Here’s How to Get More Out of Paid Advertising
Updated: Mar 19, 2020
The following is an article “Here’s How to Get More Out of Paid Advertising” by Marc Primo.
Every startup wants to make a difference in the lives of their customers and getting the message across the information superhighway relies on heavy digital marketing. For most, this means coming up with strategies that will ensure how paid advertisements can be more effective and give a business more bang for its buck.
Agencies offering paid advertising campaigns help startups and full-fledged businesses increase gains and profits, and in the rules of supply and demand, the cost of such services is on the rise globally these days. So how do you know if you’re getting a good deal?
Whichever business you’re in, paid advertising can help you push your campaigns towards success. All it takes are a few fundamental know-hows and good foresight that will give you more mileage out of your paid advertisements.
Spend time on the drawing board. This year, www.eMarketer.com reported that international digital ad spending rose to over $300 billion or almost 18%. This means that the global ad market is experiencing a major digital transformation that dictates how consumers make purchases, review products, or post feedback on social media. When you’re trying to come up with a paid advertisement strategy, allot ample time in researching current market trends. You can do this by reviewing Google Ads and social media results for your ad campaigns. After you get the numbers, let your ad agency help you review the factors that can further engage online users in terms of design, copy, photos, or the whole strategy itself. While you’re at it, review how the competition is faring online so you can have an idea of what your target market is really looking for. Through research and testing, you can build on what could work better, eliminate what doesn’t, or come up with new strategies that can be more ideal to your audience.
Create urgency techniques. For new startups, resorting to strategies that convey urgency in promotional campaigns works best with a good deal. Using blurbs in your art and copy including call-to-action phrases like “Hurry! Buy now for a 20% discount!” or “Get one free on your next purchase while supplies last!” are proven to be appealing to online consumers and gain a wider reach. This is also a good way to build your brand awareness online and manifest positive return on advertising spend or ROAS. ROAS is a marketing tool used by ad agencies to measure the effectiveness of their digital ad strategies. Digital agencies usually apply the urgency technique in recurring promotional campaigns which also gives brands market recall and only entails minor adjustments according to current trends. What you need to ensure though is a good system that delivers what you promise on your advertisements. It may even take some time to come up with an effective buyer-to-seller process if you utilize flash sales that directly drive user clicks to order and purchase pages on your website. If you are able to do this, you can definitely expect higher lead generation.
Zero-in on your target. Finding a target market at scale can be difficult and may require some trials and errors along the way. Defining who your potential consumers are and having an overview of their likes, behaviors, and lifestyles can give you an edge in how you plan for new advertising strategies. Try to identify your specific target market by studying their demographics including age, location, profession, and purchasing habits then narrow them down to those who can give you the most profit. You can also gain insight on who your best audiences are by algorithmically determining target groups via social media and your websites. These could be labeled as lookalike audiences or the closest group of people that might resemble your best customers who you should focus on in terms of advertising strategies.