Video has become increasingly important to the social networks. According to a recent study by SocialFlow, over the last year their platform has seen a 164% increase in the number of video posts on Facebook and Twitter. And even though video only made up 2.3% of the posts in 2016 it represented 20% of the engagements on those platforms. While you might be tempted to think that social video ads are only for big companies, this format may actually be one of the most cost-effective tools you can invest in if you're a local business. Here's what you need to know to get started:
1. Use Tools to Help
One of the big barriers small and medium-sized businesses face when it comes to social video ads is the actual videos themselves. Many business owners lack the equipment or skills to actually create a video ad. However, in the past few years, Facebook and Instagram have rolled out a number of video creation tools that empower businesses to create professional-looking videos leveraging assets they already have, along with transitions, animations, effects and music that are provided free of charge by Facebook. The latest of these include Facebook and Instagram slideshow ads that give business owners access to easy-to-follow templates.
2. Reach The Right People
One of the great strengths of social platforms is scalability, and the same applies to Facebook and Instagram video ads. After completing market research and identifying customers in your area who might be interested in your services, you can create a video for your local business and then serve it directly to these customers. Whether it is moms with infants or grandparents who just moved, you can target the most relevant people for your business and not waste money on people outside your target location or demographic.
3. Get Potential Customers Involved
According to statistics published in Business 2 Community, Facebook video ads produce an engagement rate that's 60 times higher than image ads. This is a critical metric when you're building your local business. When potential customers are leaving comments, asking questions and even liking and sharing your video, your reach will expand organically, giving you even more bang for your buck.
While local businesses may think that social video ads aren't for them, nothing could be further from the truth. Not only does Facebook and Instragram provide plenty of tools for businesses interested in trying out video, but it provides platforms for customers to get involved and achieve their business goals even with a small budget.