Thinking of Running Social Media Ads? First, Read ThisJul 30, 2021 in Business
Advertising is a tricky business and before you dive in, there are some things that might help. Since advertising has been around for so long it’s become an art form few grasp fully but many take on without the necessary experience. One of these mistakes may be the temptation to use clickbait phrases or hyperbole (i.e.”I’ll never eat at this restaurant again!”). But while these tactics sound good initially, they can backfire if not carefully crafted into your overall campaign strategy with considerations to who you are, how people see you, what you are selling, and who you are selling to. Let’s not forget any associated costs and such as how often different campaigns should run vs one another depending on their intended audience-building purpose etcetera.
I know you’re all excited to jump into your first advertising campaign, but before you do that there are 4 little things I want to make sure you are aware of.
1. Are you a non-profit or a social enterprise? Well, you may have a tough time!
Anything related to social causes, opinion pieces, politics, and the related are prohibited on most digital platforms for fear of what we all witnessed prior to the 2016 election of voter tampering and the misinformation on critical issues that followed. With this mandate, the umbrella covers a lot of civic organizations, mission-driven advertising, etc., and only limits to those with a “thing” to sell, or an event to promote, not falling into the very strict criteria. Each platform requires different things, so do your research.
2. If using different images for Facebook and Twitter, make sure they are appropriate.
It may be helpful to vary the message in each ad type depending on the audience or desired outcome. For example: if looking for engagement (likes), include an image with text; whereas if promotion is your goal (driving traffic) then utilize video content with captions and links back to website pages of interest. As always, don’t forget about hashtags!
3. For best results, more is more.
If engaging new clientele or markets, consider a more dynamic funnel that has 3 or more various campaigns running simultaneously, and where those viewers that interacted with the first campaign can then be retargeted at various stages, and with different or similar offers, in the same funnel. Use only singular campaign messages when boosting to existing audiences.
4. Count the cost.
Advertising can offer great benefits but also comes at significant costs when deciding how much time one needs to invest while making money from their own business ventures (i.e., freelance services). Start slow and low. Contract a gig worker to set up your campaign using copy and graphics you already have and then use the remainder of your budget to test out your targeting and reach.
Carefully crafted tactics can help you find success in your advertising campaigns. Whether it’s a clickbait phrase or hyperbole, the difference is how well they are crafted into your overall campaign strategy to make sure that people see them for what they are and don’t take offense. Let us know if we can help!
The Future of Black Owned BusinessMar 24, 2021 in Business
Black-owned businesses in the United States have obviously faced many historical obstacles through practices such as redlining and discriminatory lending practices; however, Black-owned businesses play an incredibly pivotal role in the current economy.
In fact, research from the Brookings Institute noted that investing in Black-owned businesses is key to expanding the overall economy. Although Black people comprise 14% of the nation’s population, Black-owned businesses represent only 2% of businesses. This underrepresentation is preventing the development of millions of jobs and billions in potential revenues.
Addressing these issues means addressing systemic barriers that prevent Black-owned businesses from coming to fruition. An inclusive economic model is essential for the future of the nation’s economy. It also means that it is a necessity to improve funding and support for Black-owned businesses while also promoting programs targeted at encouraging innovation, entrepreneurship, and professional development programs for persons of color.
Business experts have noted that the internet will be key to growing Black-owned businesses. Specifically, social media can help entrepreneurs better promote their businesses and access a greater customer base. Furthermore, local campaigns to encourage community buying from Black-owned businesses can help increase enthusiasm. Even companies like Google are increasing support as the search giant recently added a feature on its shopping tab that allows consumers to easily find Black-owned businesses.
However, one of the key aspects for the future of Black-owned businesses will be improving access to funding. In fact, there is an increasing number of grants available for Black-owned businesses, an important trend as members of the Black community are denied loans at a disproportionate rate. Meanwhile, grant funding carries the additional benefit of not creating debt. Here are three programs that Black entrepreneurs can take advantage of.
Minority Business Development Agency
The MBDA is committed to helping minority business owners throughout the United States through a number of programs including grant funding. In addition to this, local MBDA centers provide free business consulting, procurement matching, and other types of assistance.
National Minority Supplier Development Council
This organization has a mission of increasing business opportunities for minority-owned businesses. It oversees the Business Consortium Fund, a nonprofit business development program that provides grants and other types of financing. It also provides business advisory services free of charge.
Small Business Administration 8(a) Business Development Program
This program aims to assist business owners who fall into either the socially or economically disadvantaged categories. To qualify, a majority of the business must be owned by someone who has faced bias or prejudice due to their race or ethnicity. While the program does not give traditional grants, it assists businesses in obtaining contracts set aside specifically for them and also provides access to advise, training, executive development, and a mentorship program.