Is Social Media Advertising Worth the Money?

Social media advertising has long been an important element of Toronto business marketing. However after steady increases in spending throughout 2011, more and more companies suddenly seem to decide that these avenues are not worth pursuing and abruptly pulling their marketing funds from the social media sites.

Does this mean that paid advertising on social media sites is suddenly not worth the money? As with nearly everything in the field of Toronto business marketing, that question is much more complicated than it initially seems and certainly can’t be answered with a simple ‘yes’ or ‘no’.

First of all, no one is arguing that social media is completely useless for business. The whole purpose behind marketing and advertising has always been to connect with the segment of the public that makes up your customer base. There has never been a better way to accomplish that than through the forum that Facebook, Twitter and other social media platforms provide. These sites have allowed the marketing process to become a two way street with full conversations occurring between corporation and customer.

However, as useful as this new two-way marketing can be, it can also be the downfall for many corporations. Several British financial services organizations were among the most recent companies to find this out the hard way during the recent libor scandal. Banks that had nothing to do with the fraud and associated fallout have been attacked through social media while simply trying to announce new products they were offering.

When it comes to our opinion of the proper usage of social media within the framework of a Toronto business marketing strategy, it still varies. We have never been the sort of business that believes a single marketing plan can be applied to every corporation that hires us. This is why we always take the time to study the market as well as the individual client before deciding what the best course of action will be.