17 years helping British businesses
choose better software
Paid Social
Paid social is a practice used in marketing and advertising where paid ads or sponsored content are displayed on social media platforms. The goal is to reach a specific audience to promote a product or service, or to raise brand awareness. Typically, paid social uses a cost-per-click (CPC) payment method where those who create the ads are charged for the advertisement based on how many clicks it generates.
What Small and Midsize Businesses Need to Know About Paid Social
Increasing brand awareness, customer engagement, and conversion rates through organic social media takes time. SMBs can use strategic paid social campaigns to reach these goals faster. One of the most popular approaches in recent years is the use of social media influencers. These influences have large followings and are paid by SMBs to promote their product or services on social media. In turn, the SMB receives much more exposure than they would through basic promotions on their social media accounts.
Related terms
- Tokenization
- ROIT (Return on Information Technology)
- SAC (Subscriber Acquisition Cost)
- Energy Trading and Risk Management (ETRM)
- Chief Revenue Officer (CRO)
- Core Banking System
- Record to Report (R2R)
- Fintech
- Financial Management System (FMS)
- Business Capability Modeling
- Capital Allocation
- Compound Annual Growth Rate (CAGR)
- Net Present Value
- Hedge Fund
- Gateway
- Selling General and Administrative (SG&A) Expenses
- ROE (Return on Equity)
- Financial Planning and Analysis (FP&A)
- Dollar-Cost Averaging (DCA)
- Procure-to-pay Solution
