The Importance of Diversifying Your Social Media Advertising in 2024

by | Feb 16, 2024

Beyond Meta for Social Media Advertising in 2024

People’s habits are ever-changing. 

Digital marketing is constantly changing. 

Social media usage is changing even more. 

Diversifying Your Social Media Advertising - illustrated graphic of a woman sitting under a social media tree with her laptop open

As we step into 2024, a year poised to be marked by significant political events, the realm of social media advertising is set to face unprecedented challenges and opportunities. Stepping back from just the political elections happening in the US, this year is set to be the single largest voting turnout globally in history with more than 64 countries holding elections

And, in case you haven’t stepped outside – the political race in the US this year is going to be one with significant coverage! 

What’s more, is that the increase in social media platforms is leading to a shift in social media consumption. The world is no longer a “One-Size Meta-business manager fits all”. 

With all of this, let’s dive into the importance of expanding your advertising efforts beyond traditional social media platforms like Facebook and Instagram to include a broader spectrum of social media channels such as TikTok, LinkedIn, Snapchat, Twitter/X, Pinterest, and others.

 

 

Navigating the Political Advertising Surge on Social Media

 

The Social Media Impact on Advertising Prices and Attention

2024 is a significant year for political advertising, bringing with it a surge in advertising costs and a battle for audience attention. Political campaigns are known for their hefty advertising budgets, which can significantly drive up the cost of ad space across platforms:

  • Increased Competition: As political entities vie for ad space, businesses will face steeper prices and increased competition for visibility.
  • Audience Distraction: The influx of political content may lead to audience fatigue, making it harder for commercial ads to cut through the noise.
  • Enhanced Scrutiny: Platforms will be under the microscope for how they handle political ads, potentially leading to stricter regulations and changes in advertising policies.

Strategic Diversification of Social Media

To mitigate these challenges, diversifying your advertising channels is key. Exploring less saturated platforms can offer more cost-effective opportunities and a chance to capture attention away from the political fray.

 

 

The Shift in Social Media Preferences

 

Beyond Meta: Exploring New Horizons

While Meta platforms (Facebook and Instagram) have long dominated the social media landscape, there’s a noticeable shift in user behavior. Audiences are branching out, seeking fresh content and experiences on platforms like TikTok, Snapchat, and LinkedIn. 

Historically, LinkedIn has always stood out for dominating the business and professional social media audience, and conversation. Then platforms like Pinterest came in and broke through for specific audiences, as did Snapchat and TikTok. Even now, with the Twitter takeover of Musk, clear audiences are going, and leaving, Twitter/X over their policies. 

This diversification in social media usage underscores the need for advertisers to broaden their reach and adapt to changing consumer habits.

 

Embracing Social Platform Diversity

  • TikTok: With its explosive growth, TikTok offers a unique blend of creativity and engagement, making it an essential platform for reaching younger demographics.
  • LinkedIn: For B2B marketing, LinkedIn remains unparalleled, offering targeted opportunities to reach professionals and decision-makers.
  • Snapchat and Twitter/X: These platforms cater to specific user behaviors and preferences, providing niche opportunities for targeted advertising.

 

The Rise of New Social Media Channels

Diversifying Your Social Media Advertising - illustration of a man carrying a "like" button weight up a large mountain

Meeting Audiences Where They Are Consuming Social Media

As traditional social media channels, like Facebook, become more crowded, the importance of identifying and leveraging new platforms cannot be overstated. Emerging platforms often offer untapped potential for engagement and can be particularly effective for reaching specific demographics or interest groups.

 

Benefits of Early Adoption on Social Platforms

Everyone looks back fondly on a time when you could go to the movies for a quarter, and when a “buck” on Facebook could get your ad in front of thousands of people. Now, these scenarios may never happen again in quite the same way, but there are some benefits behind getting in early on Social Media platforms! 

  • First-Mover Advantage: Early adopters can establish a strong presence and build brand loyalty before the competition intensifies.
  • Innovative Formats: New platforms frequently introduce innovative content formats, offering fresh ways to connect with audiences.

 

Demographic and Behavioral Segmentation

 

Understanding Platform-Specific Audiences

One of the most compelling reasons to diversify your social media advertising strategy is the increasing overlap of “same” users across different platforms. However, each platform also hosts unique demographic segments and user behaviors:

  • TikTok: Dominated by Gen Z and younger millennials, ideal for trends and viral content.
  • LinkedIn: Attracts professionals and B2B audiences, suitable for thought leadership and industry-specific content.
  • Pinterest: Favored by those seeking inspiration for lifestyle, decor, and DIY projects, making it perfect for visual storytelling.

Tailoring Your Social Media Strategy

To effectively reach and engage these diverse audiences, it’s crucial to tailor your advertising strategies to the specific characteristics and preferences of users on each platform. This might involve:

  • Customizing Content: Develop platform-specific content that resonates with the unique audience of each channel.
  • Segmenting Campaigns: Use demographic and behavioral data to segment your campaigns, ensuring that the right messages reach the right audiences.

 

Which social platforms should small businesses advertise on in 2024?

It’s nearly impossible to say exactly which platforms every small business should be on, but with certainty, we can say that you should be looking outside of just the standard social media platforms of Facebook and Instagram. The best way to start is to look around, use the platform directly yourself, ask your customers where they are, and even contact a social media professional for more information. 

 

Recommendations for Diversifying Your Social Media Advertising Strategy

You have to walk a delicate line between diversifying your social media strategy and exhausting all of your resources internally. Don’t take on more social media work than your team is ready to handle, or make sure that your increased allocation of resources to managing social platforms is in line with your expected outcomes. 

1. Conduct Social Media Platform Research

Understand the demographics, user behaviors, and content preferences of each platform to inform your strategy.

Stay updated on emerging platforms and trends that could offer new advertising opportunities.

2. Optimize for Each Social Channel

Tailor your content and messaging to fit the unique format and audience of each platform.

Experiment with different content types (e.g., video, images, text) to see what performs best where.

3. Monitor Social Media Performance and Adapt

Use analytics tools to monitor the performance of your campaigns across different platforms.

Be prepared to adapt your strategy based on what the data tells you about where and how your audience engages with your content.

4. Leverage Influencer Partnerships

Collaborate with influencers across different platforms to extend your reach and credibility with diverse audience segments.

5. Prioritize Social Engagement

Focus on creating interactive and engaging content that encourages user participation and sharing.

 

 

Finalizing Your 2024 Social Media Strategy

The 2024 social media advertising landscape demands a strategic approach that is mindful of the political and competitive environment and embraces diversity and flexibility. By expanding your organization’s presence across a variety of platforms, you can navigate the challenges of political advertising, connect with broader and more diverse audiences, and capitalize on the unique opportunities each platform offers. 

Remember, the key to success in this dynamic environment is not just to be present on multiple platforms, but to truly understand and engage with the distinct communities that inhabit them.

Contact Corkboard Concepts Today!

Author:

Jordan is the dedicated CMO for Corkboard Concepts. His career in marketing and media has gone through various twists. Spending the first couple years as a digital nomad, Jordan took his “marketing wits” on a tour of the globe starting online businesses in the US, United Kingdom and Asia. From eCommerce to digital publications, freelance marketing to local media, variety and change have been constants in Jordan’s marketing world.

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