When pulling together your business, you will certainly want to know which set of advertising strategies work best to recruit your target clientele and won’t break your budget.
Thankfully, digital ad campaigns can be run easily through the use of digital ad platforms and far more cheaply than traditional forms of advertising. In addition to saving tons on your budget, digital advertising allows businesses to easily edit their ads, adjust their budget up or down, and even instantly pause ads with a single click.
Benefit of Digital Advertising
The benefits of digital ads are endless, especially if some of your business goals include increasing sales, growing your brand organically, attracting a unique and new customer base, or you are simply interested in re-engaging your previous and/or customers.
Some of the additional ways digital advertising can be a benefit include:
- Providing businesses with insights into the demographics and behaviors of their customer base
- Getting in touch with a larger target audience
- Being able to tap into customers at various stages of the marketing funnel
- Using multiple devices to advertise, such as desktops, mobile phones, and tablets
- Use multiple formats (for example, text, image, and/or video) to reach your audience
- Enabling a flexible budget and set of advertising campaign costs
While strategic SEO is incredibly important for those businesses interested and in need of rising to the top of any search engine page, a targeted digital advertising campaign can give that much more of a boost to a company’s brand visibility.
Companies can opt to use online advertising (in the form of paid searches and social media) and search engines and social networking websites (such as Google, Facebook, Instagram, LinkedIn, YouTube).
If you are hoping to build brand awareness, you might consider using Google Display ads and Facebook ads which use engaging images to showcase the uniqueness of a company’s products and services.
If, however, you are hoping to expand your customer base, you might alternatively use Google Search ads.
The most important point to note here is that not every digital ad platform is right for your business. So instead of using what is popular or suggested, consider your business needs and which option will help you best meet your company goals.
Now that we have covered what digital advertising is, let us consider whether or not hiring a digital advertising agency is the right thing to do for your business.
Bidding Models in Digital Advertising
So what exactly are bidding models, and which are most prevalent in digital advertising? Here are the top four that we suggest:
Cost-per-action (CPA): Through this option, your company pays when a user completes a desired action – this can include signing up for an email newsletter or purchasing a specific product.
Companies that use this option tend to use search engines and social media platforms such as Facebook and Instagram to make the best use of this strategy.
Cost-per-click (CPC): Unlike CPA, this option requires that your business pays every time someone interacts by clicking (rather than simply viewing) on your ad – which brings users to your site (or another dedicated landing page).
Platforms that best suit this option include Facebook, Google Ads, Instagram, and Twitter, to name but a few.
Cost-per-lead (CPL): This option enables your business to pay each time your ad generates a new lead. This option works perfectly if you have a business-to-business (B2B) company. If you choose to go with CPL, remember to develop an ad that recruits high-quality users.
Cost-per-thousand-impressions (CPM): This option requires that your company pay each time your ad earns 1000 views.
That said, this option is better suited for larger and well-known brands and can be especially ineffective in terms of costs for small-to-midsize businesses.
Reasons to Use Digital Advertising
If you are looking for reasons to use digital advertising, we’ve got plenty! First, it tends to increase and improve your brand awareness with clientele while already reaching and directing your ad spending toward your target audience.
This measurable and cost-effective advertising strategy also helps to improve product sales and provides each business with measurable initiatives results.
Another great reason to opt for digital advertising is that it gives your business an easy way to track and monitor your online digital advertising efforts.
Whether you are using Google Ads or any other social media and social networking platform, digital advertising allows you to log into your account and view and review your data with a few quick clicks.
This is a wonderful option because it allows your team to instantly see your results and determine if this kind of advertising is working – and most especially if it is the best advertising strategy to use.
And if it isn’t working well, having access to your data will also give your team the opportunity to brainstorm new business and advertising strategies to increase your company’s performance.
Finallyusing digital advertising will allow your company to create a reasonable budget – rather than exacerbate your costs through the use of an expensive billboard or television commercial.