8 Paid Advertising
Paid advertising is a way for businesses to reach the people they want to reach.
Paid advertising can also mean radio or TV ads, but most people use it to talk about ads on the internet.
A lot of the time, paid ads work like a sale.
People who want to put ads on sites like Google Ads and Meta ads have to bid against each other. The sites use algorithms to choose which ads to show and when to show them.
Each ad site has its own way of bidding. But most of them choose ads based on things like the price amount, the quality of the ad, and how engaged users are with it.
This means that if two advertisers have the same amount of money, the ads from the more relevant and interesting marketer will be shown more.
Business can tell people what they offer with paid ads. They are an important part of a complete business plan.
8.1 Types of Paid Advertising
Paid advertising comes in many forms, and each one is used to reach a different group and meet different marketing goals. These are some popular types of paid ads:
a. Pay Per Click (PPC) Advertising
In pay-per-click (PPC) campaigns, marketers bid against each other for certain keywords. When people look for those terms, their ads show up on search engine results pages (SERPs). The name “pay-per-click” comes from the fact that the seller only pays when someone clicks on their ad link. Google AdWords and Bing Ads are two popular places to put PPC ads.
PPC ads help businesses reach people who might be interested in their products or services. The goal is to get people to visit their websites and, hopefully, make sales.
b. Social Media Advertising
Social media is a great place to advertise because over 3.6 billion people use it every day.
No matter what kind of people you want to reach, they can probably be found on one of the many social media sites.
You can spread the word about your brand without spending a lot of money by running paid ads on social media.
Paid posts that show up on social networks are called social media ads. These ads help spread the word about a brand while also targeting users based on information gathered from past encounters.
c. Video Advertising
Most video ads are 30-second clips that show off a product or service.
Video ads let businesses make visually appealing ads that get people’s attention and get their ideas across quickly and clearly.
d. Native Advertising
Paid content promotion called “native advertising” fits in perfectly with the other content on a site that isn’t advertising.
It’s basically like a chameleon for ads; it changes its look and feel to match the site it’s on, making it look like normal content instead of an obvious ad.
Traditional display ads stand out with big colors and banners. Native ads, on the other hand, fit in with the design, format, and content of the site where they are shown. This level of detail makes them less annoying to the user and raises the chance that they will be interested.
e. Display Advertising
Display ads are banner pictures that are placed around web pages that have information that is related to what the advertiser wants to sell. People are often shown these ads based on their hobbies or demographics. They come in many sizes and forms, but the most common ones are rectangles that are placed at the top, bottom, or sides of a page.
f. Retargeting/Remarketing
There are banner ads called display ads that are put around web pages that have content that is connected to what the advertiser wants to sell. These ads are often shown to people based on their interests or where they live. Most of the time, they are squares that are put at the top, bottom, or sides of a page. They come in many sizes and shapes.
g. Google Shopping Ads
There are banner ads called display ads that are put around web pages that have content that is connected to what the advertiser wants to sell. These ads are often shown to people based on their interests or where they live. Most of the time, they are squares that are put at the top, bottom, or sides of a page. They come in many sizes and shapes.
h. Influencer Marketing
Influencer marketing is all about working with people who have a lot of fans on social media to get their followers to buy something.
Brands can now reach their ideal customers in a whole new way thanks to influencer programs.
It’s possible for these influencers to build a big following and get to know their audience well, which makes them ideal for brands that want to push their goods or services through sponsored content.
To begin, pick leaders whose followers are a good fit for your brand.
Make sure everyone knows what is expected of them from the start to avoid problems in the future.
Keep a close eye on performance metrics after each promotion to make sure your work is paying off.
Influencer marketing can have a big effect on your social media approach if you do it right.
A good partnership can raise awareness of a company, get people involved, and increase sales.
i. Email Marketing
Email marketing campaigns are a common type of digital marketing in which companies pay to send ads or promotional emails straight to the inboxes of people they want to reach. The goal of these campaigns is to get present customers involved, bring in new customers, and promote goods, services, or special deals.
j. Paid Content Promotion
Businesses pay to get their useful content seen and read by more people. This is called strategically marketing with paid content promotion.
Paid promotion can be done for any type of content, like a blog post, video, infographic, or anything else. It includes using online advertising platforms to reach specific groups of people and show the content to a larger audience than it would normally reach naturally.
The goal of paying for sponsored posts, display ads, and other types of online advertising is to get more people who might not have seen the content otherwise to watch it, read it, or buy something. This extra exposure can lead to more participation, more shares, and a better return on investment for the business or person who made the content.
Paid content promotion works well with organic marketing and helps content makers reach new audiences. This spreads their message further and increases the likelihood that their content will have a real impact. It works well to make sure that good content doesn’t get lost in the huge amount of information on the internet and gets to the people who will enjoy and learn from it
8.2 How to create a paid advertising campaign
With paid advertising, businesses can get their ads in front of very specific groups of people right away. Ad platforms also give you a lot of information and data. All of these things help brands get new customers and make more money.
Following the steps below will also help you start with paid ads.
a. Set Clear Advertising Goals
What ads you should use will depend on your goals. They also affect the data you’ll track and improve your ads for.
Let’s say your goal is to get more people to know about a new product. You will want a lot of people to see your ads. You can figure out how many people saw and clicked on your social media ads.
But if you want to sell things, you should make sure your ads are set up to generate leads or sales online. Someone who clicked on a search ad and went to your site to download an article and then gave you their email address could be a lead. They are now a part of your email marketing process.
b. Identify and Understand Your Target Audience
To meet the wants of your potential customers, you need to know what those needs are. In a language they can understand.
Do study on the market to find out more about your audience. To do this, you need to gather and analyze information about your target market.
Find out how your customers decide what to buy and what problems they are having. Learn about their area, age, and other demographics. Find out how you can best get in touch with them and what they think about your business.
After getting this information, you can make a buyer persona, which is a made-up description of your dream customer.
c. Select the Right Advertising Platforms
When picking an advertising site, whether it’s for video or display ads, think about a number of things.
Each tool is better in its own way. You can use these questions to help you pick:
- Does your audience use the platform for a long time?
- Are your rivals putting up ads there?
- Can it help you reach your advertising goals?
- Does the platform give you info that you can use to figure out how well your ads are doing?
- Do you have the knowledge or help you need to use the platform well?
One way to find out where your audience spends time is to look at online groups. Check to see if your audience follows any well-known social media pages, niche groups, or influential people. You might put paid ads on sites that host these kinds of groups.
d. Create Compelling ad Copy and Creative
To make ads that work, you have to improve different parts of the ads. It has text, images, calls to action, and more.
Here are some suggestions for writing good ad copy:
- Short and easy wording is best.
- Talk in a way that your viewers can understand.
- Feelings are a great way to connect with your audience.
- Use strong calls to action to get people to take action.
Also, make sure that the text on your ads and landing pages is the same. This reinforces important selling points and guides people toward an action that you want them to take. Like when you buy something or sign up for a service.
e. Set a Budget and Bid Strategy
It’s possible to choose how much money you want to spend on ads.
It’s possible that your spending is set. For instance, a business might have set aside $5,000 a month for paid ads. You can only use this much for online ads.
One more way is to make a budget based on your goals and the return on investment (ROI) you want.
For instance, your goal could be to get 50 people to try your goods. You know that 10 out of every 50 leads turn into paid customers because of how well the ads have done in the past. And each customer brings in $1,000 for you.
If you turn 50 leads into 10 buyers and make $1,000 per customer, you’ll make $10,000.
This means that you shouldn’t spend more than $10,000 on ads to get 50 leads. You make more money when you can push it lower.
f. Monitor and Optimize Your Campaigns
Most advertising sites have analytics tools that you can use to see how well your ads are doing.
They help you keep an eye on how your paid campaign is doing so you can find ads that are making you money and change or get rid of ones that aren’t.
The Ads Manager in Meta lets you see how well your ads on Facebook and Instagram are doing. You can see how many people looked at or clicked on your ad. Or how well it did with people from different groups.
You can keep an eye on ads with other tools. Position Tracking from Semrush, for example, lets you see where you stand in search results for the terms you bid on.
g. Measure ROI and Performance
To figure out your ROI, you need to keep track of how well your ads are doing. You can do this with the help of some measures:
Click-through rate (CTR): how many people click on your ad after seeing it
Conversion rate: the number of people who click on your ad and then do what you want them to do, like buy something or sign up for your email.
Cost per click (CPC): that amount of money you pay each time someone clicks on your ad
Cost per conversion (or cost per acquisition, CPA): how much it costs on average to convert or acquire someone.
Lifetime value (LTV): is the amount of money you expect to make from a customer over the course of your relationship with them.