***This article was originally featured on SME South Africa
If you run a small businesses or a startup aimed at the B2B sector, and you have yet to experiment with performance marketing, especially social media advertising, now is a good time to start (well, a year ago was a really great time to start as more and more brands are starting to wise up to the power of social media advertising and thus it is becoming more competitive price wise).
One of our recent projects involved performance marketing for a B2B tech startup based in Europe whilst targeting the US market primarily, along with a few key European regions. Instagram advertising, surprisingly for a B2B brand, became the key revenue driver in terms of tracked conversions and eCommerce sales. Startup founders looking to target the B2B sector should consider that Instagram advertising can be a revenue driver for their businesses - it’s not just for B2C companies as we have worked with B2B brands and have seen tangible results along with a positive ROAS.
Small businesses that have not yet used Facebook/Instagram/Twitter/LinkedIn paid advertising to grow their businesses, should try explore these channels for not only generating revenue but more so bringing marketing qualified leads for their sales teams to nurture and convert.
Few points to keep in mind:
Vital to keep ads fresh to avoid ad fatigue and thus a low relevancy score and high CPC
Test different target audiences based on specific metrics - CPM, CPC, bounce rate, time spent on site, and conversion rate.
Start experimenting with custom audiences (especially LAL audiences). These can include people on your email list, those that did not complete the transaction, video engagement retargeting, and other forms of content retargeting.