Comparing ad conversion rates across platforms: Meta, TikTok, and LinkedIn
Social consumers have more purchasing power than they ever have before. With this in mind, it's understandable that so many marketers are looking for ways to quantify the value of social media engagement.
We mainly talk about organic social media on our blog, but with paid social media becoming increasingly important, we felt it only made sense to highlight it. Conversion rates are an integral part of paid social media marketing, so let’s take a look at the different social media platforms and compare ad conversion rates.
What is a social media conversion rate?
A conversion rate is essentially a measurement of how frequently your social media content starts the process of a conversion event. Examples of these events would be subscriptions, downloads, or even sales.
It is a critical social media marketing metric as it unveils the value of your social media campaigns, both organic and paid, as a means of feeding your funnel. When you set up a social media advertising campaign, you include a call to action with a link. People interact with this link, which affects your social media conversion rate.
What’s a good social media conversion rate?
Before we start to compare different ad conversion rates, let’s define what makes a good conversion rate. Usually, anywhere between 2 and 5 percent can be considered a successful conversion rate. This essential means that a decent portion of viewers clicked on your desired action.
Comparing ad conversion rates across platforms
Let’s discuss how ad conversion rates differ across social media platforms. According to BusinessDIT, the average conversion rates for major social media platforms usually fall between 0.54 percent and 9.21 percent.
They shared Facebook’s conversion rate to be 9.21 percent, TikTok’s to be 3.4 percent, LinkedIn’s to be 2.35 percent, and finally, Instagram’s to be 1.08 percent. With this in mind, you may think it best to run campaigns on Facebook due to its high conversion rate.
However, you shouldn’t necessarily just abandon a low benchmark social media channel. This is especially the case if it is part of your digital shelf. It all depends on your target audience and product mix.
In other words, you may have more success striving for higher conversion rates on these channels than focusing on acquiring new customers through a platform that does not fit well with your brand.
How to improve your social media conversion rate
An ad for our client, the 1933 Furniture Company
You should now have a greater understanding of social media conversion rates and how they compare across each social media platform. Your social media efforts may not be delivering the conversion rate you desire so it is always a good idea to test out different things to see if you can increase it.
So how can you improve your social media conversion rate? One way to do so is by making your call to action as clear as possible. Call to action is paramount for social media engagement. Try to play around with different formats of your call to action. Consider even using A/B testing to determine which would work best for your campaign.
If assessing your call to action doesn’t work, take a look at your hashtags too. Using high-quality hashtags will boost your SEO and lead generation. These hashtags make sure that you are targeting and reaching the right audience and therefore, increase your social media ROI. You could also consider working with influencers, whether micro or large, to get more traction on your ads.
How we ensure quality social media ad conversion rates at Social Directions Agency
At Social Directions Agency, we focus on organic social media for our clients, but we also run paid ads. We run a wide range of different ad campaigns that have various creatives, calls to action, and copy. However, one thing we always do with every ad campaign is tracking different elements depending on our client’s needs.
For instance, this could be cost per sale, cost per reaching 1000 people, or cost per lead. Generally, we split our budgets across brand awareness on a small scale, and a larger portion goes specifically on conversions. Our role is then to constantly maintain and adjust the creatives to get the best result.
We tweak between 3 and 5 creatives each day, week, and month to get the very best results for our clients. These tweaks include the actual design, the headline, the copy, or the landing page. Our ultimate goal is to get the best cost per result for the client through these tweaks. Conversion is an important metric, but we ultimately want to get our clients the results they want for the minimum price possible.
Summary
Ad conversion rates differ across the various social media platforms. However, this is not to say you should discard platforms with lower conversion rates. Ultimately, it’s all about which platforms work best for your business and help you achieve your goals.
At Social Directions Agency, we run a plethora of social media ad campaigns for our clients across different industries and constantly tweak these ads to ensure their success and increase conversions. If you are eager to dive into organic or paid social media marketing for your business, our team of skilled and enthusiastic digital creatives are here to help you.