Advertising is a key part of any successful business. With a plethora of marketing strategies available, it is important to consider aspects of each one to find the most effective strategy for your business needs. If you aren’t familiar with the term, Paid advertising is a method of acquiring ad space to promote a brand or business. Marketers pay for advertising space from an owner or platform for a predetermined amount of time.
Paid advertising marketing can be very beneficial to any business, big or small. Here are 4 benefits of paid advertising.
1.Increased Reach
To make any sales, the consumer needs to be aware of your business. Although social media is a great place to promote, there is heavy competition for views. Additionally, platforms such as Facebook are prioritizing posts from friends and family over brand posts. Paid ads are placed right in your audience’s feed, increasing your opportunity to be seen.
2. Budget-Friendly
Paid advertisements can increase your reach and if done right can be highly cost-effective. The costs are typically dependent on your goals and ad type. If your goal is to increase website traffic, then you may get charged cost-per-click (CPC). If your goal is brand awareness you may be charged a Cost Per 1000 Impressions (CPM). Ads can be produced quickly and there are tools that can aid for pretty cheap. Ad platforms such as Google, Twitter, Facebook, and LinkedIn allow you to keep track of the money you have spent on advertising with options to set daily and total budgets to prevent over-spending. Be sure to try and present a proper advertisement to optimize your sales potential.
3. Granular or Specific Targeting
Paid advertising allows you to target specific groups/demographics. Viewing your platform analytics can inform you of pertinent information about your audience including keywords, locations, demographics, job titles, interests, and common topics. Knowing who views your site allows you to prepare a retargeting campaign to stay relevant to your customers.
4. Multiple Platforms
There is pretty much a social media platform to fit every advertising need. Common social media platforms include Facebook, Instagram, Snapchat, Twitter, LinkedIn, YouTube, and Reddit. These platforms already generate a ton of traffic, so using them to promote your brand can be highly beneficial. Do your research and determine which platform your audience primarily uses.
Final Thoughts
Paid advertising is a common, effective marketing strategy to increase reach and drive sales. It allows for even small businesses to be able to compete and reach their desired audience. Could paid advertising help you and your business?
If you would like more information about paid advertising or need assistance, don’t hesitate to contact us – our team would be more than happy to help you!
