It's a new year and that means it's time to get serious about paid marketing campaigns. It can be overwhelming when you look at all the options available. You want to make sure you are getting the most bang for your buck and that you are reaching the right audience with your message.
Even during times of economic uncertainty, many small and large businesses tend to pull back significantly on advertising. In digital marketing, it is exceptionally vital that you not put all your eggs in only one basket. By using multiple verticals of digital ad campaigns, if there arises an issue with one of them, it will not entirely cripple your revenue stream as opposed to only investing in one digital media channel.
Let’s examine why paid marketing campaigns are important for businesses this year and what you need to know to get started.
Why Paid Marketing Campaigns?
Paid marketing campaigns are an effective way to reach your target audience quickly and efficiently. This type of advertising is not only more cost effective than traditional marketing methods, but it also allows you to tailor your message and target specific demographics or geographic areas. Additionally, it helps drive traffic directly to your website so potential customers can learn more about your product or service.
With all the competition out there nowadays, paid marketing campaigns are a must if you want to make your business stand out. Whether it’s Facebook ads, Google ads, or other forms of social media marketing, you can use these tools to get your products, services, and brand in front of potential customers. Picking the right paid campaigns will help you dominate your niche and increase the visibility of your brand in the world.
All it takes is a bit of research and some cash – but no price is too high when it comes to driving more people toward what you have to offer. Get creative – don’t waste time -and use paid marketing campaigns now!
Types of Marketing Campaigns
Businesses should consider several types of paid marketing campaigns in 2023. One of the most popular is pay-per-click (PPC) advertising. This enables businesses to bid on keywords related to their product or service to appear as a sponsored link in search engine results pages (SERPs).
Other forms of paid marketing include display ads on websites, social media ads, sponsored content, email campaigns, and retargeting ads. All of these options have different benefits and can help reach different audiences depending on what type of campaign you choose.
Essentials for Paid Digital Ads
1. Informed and concrete objective
One issue that businesses small and large struggle with in the early moments of advertising is that they understand that they should advertise, but instead of taking the time to identify their core objective, money is thrown to advertising platforms with improper messaging.
Before starting any advertising campaign, you must first identify what it is you are looking to accomplish. Maybe you’re a business that has been a staple of the community for decades and you’re looking to branch into new territories/expand locations. Your goal in this situation would float more along the lines of lead generating, increasing sales, or getting people in the door.
If you are a startup or an individual with a side-gig looking to make it more permanent, then you might want to dabble in expanding your brand awareness and peoples’ knowledge of your goods/services.
Identifying these objectives ahead of starting your campaign is crucial to the success of your messaging, campaign, and overall business growth by ensuring that the right type of customer(s) are being targeted.
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2. On-time follow-up
For consumers this is one of the more frustrating aspects of succumbing to online advertising. They come across an ad that meets all of their needs and checks every box, go to their social media page or website to ask a question or fill out a form, and they’re completely ghosted for hours or days.
Nowadays, humans have a disgustingly low attention span and we seek instantaneous gratification. You can set up your website, social media pages, and email to give you on-time notifications when a customer completes a conversion related to your ad campaign - whether that be a phone call, someone messaging your Instagram, or filling out a contact form on your site.
Appropriate follow-up is essential to the success of your business and your ad campaign. By catching the customer shortly after they converted, they are still engaged and/or aware of your existence. After 30-minutes, most customers have forgotten about any action that they had taken with a brand unless it was incredibly powerful.
3. Clear call to action
One of the most frustrating parts for both marketers and consumers is when an online ad is perfectly timed, perfect messaging, clear benefit of the purchase, and then the checkout or form section is hard to navigate.
You want to use strong action words for consumers. Something that makes them want to do something with your ad. By creating a clear call-to-action from the get go, you will expedite the customer journey and allow your business a speedier closing time. Giving the user(s) a clean cut action that you want them to accomplish is the most effective way of increasing engagement and yielding a higher CTR (clickthrough rate).
Examples of solid CTA’s:
Measuring Your Success
It’s important to measure the success of each campaign to track ROI (return on investment). Tracking metrics such as clicks, conversions, impressions, and cost per click (CPC) will give you an idea if the campaign is working or if adjustments need to be made.
Additionally, using A/B testing is a great way to compare different versions of an advertisement so that you can see which one performs better with your target audience. With A/B testing, you can identify what works best for each campaign and adjust accordingly for maximum success.
Measuring marketing success is no small feat. It takes a lot of thought and effort to find target audiences, formulate effective campaigns, and set up the right paid marketing campaigns that will have the most impact. But measuring success doesn't have to be hard.
There are plenty of tools at a marketer's disposal that can help them make well-informed decisions about their efforts and mark their successes as they go along. With the ever-changing landscape of digital marketing, marketers need to stay ahead of trends to ensure they're getting the maximum return on investment from their campaigns.
Conclusion
Paid marketing campaigns offer businesses an effective way to reach their target audience quickly and efficiently while controlling costs at the same time. With all the different types available today—from PPC advertising to display ads—it’s easy to find something that works for your particular business needs.
Furthermore, measuring success with key metrics like clicks, conversions, and impressions lets you know whether or not a particular campaign is successful so you can make adjustments as needed to stay ahead in 2021!
Terms Identified
CPC (Cost-per-click): The amount that it will cost you for a potential customer that clicks on your ad.
CPA/CPL (acquisition/lead): The amount that it costs for you to generate a lead from your advertising investment.
ROI (Return on investment): The ROI in these cases would be correlated to the objective of the campaign(s). If you meet X amount of impressions by the end of the campaign, that would be your return on investment.
CTR (Clickthrough rate): The rate at which people click on the link in your ad that takes them to a landing page and/or website.
CPM (Cost-per 1,000 impressions): Total amount of money spent on the ad campaign divided by 1,000 impressions.
A/B Testing: Testing two types of content against each other to see which would have higher performance based on the campaign objective.
