Why Digital Advertising?
As you’ve probably noticed by now, advertising has evolved beyond its humble beginnings on print publications, billboards, radios and televisions. The online world has opened up an immense range of digital-advertising possibilities that have the power to reach larger audiences than ever before. It has also allowed marketers to target and appeal to their core audience with far more precision than traditional non-targeted ads.
What's the deal with digital advertising?
Digital advertising takes many forms, from web page banners, Search Engine Optimisation, to social media posts and email campaigns. While there are a million different ways to expose your business to the world and start building your digital presence, not all digital advertising forms are created equal.
Google’s advertising web-tool Adwords is one of the best and most popular digital advertisement options available. It’s manageable, effective, and allows you to form a good idea of the kind of return on investment you receive for the amount of budget that you allocate.
Adwords is made up of a ‘search’ and a ‘display’ network that covers Google searches as well as banner advertisements all across the web. You choose certain keywords that you want to promote, such as your businesses main service offering, Google promotes that keyword with a high rank on a Google search and then you pay a fee for every click that results from your promotion. The display network allows you to re-market your business to people who have already visited your website through adds that will show up as they browse through the internet.
Beyond Adwords, paid social media advertising extends your content’s reach by boosting your posts. You can also use something like Facebooks ads manager app to have even more control over who your posts are targeting and when people are seeing them.
Why it's the bee's knee's
Here are a few of the main reasons that digital advertising has become such an essential component of today’s marketing mix;
- It’s more efficient and faster to the market than traditional media.
- It’s more easily measured for more informed strategy making in the future.
- Cost models such as the ‘pay per click’ model allow for confident prediction of return on investment.
- It drives word-of-mouth, the most effective form of marketing, because digital content is easy to share between customers.
How to get started
Initiating a Google Adwords campaign means conducting research into what keywords people are searching when looking for your businesses product or service. It also means figuring out which of these keywords will have a low level of competition so that your budget isn’t diluted by other Adword campaigns with the same keywords. This is a tricky process but Adwords provide a keyword researcher tool to help you along the way.
If you decide to tie in your digital advertising with your content marketing strategy then there is another set of steps to follow. After you’ve created valuable content for your blog or Facebook page, you can analyse the kinds of content that are receiving the most attention in the form of likes and shares. Once you’ve identified the content that’s popular with your audience you can allocate some of your advertising budget to boosting it and then managing your target audience with Facebook’s Ad manager app.
So what's the damage?
The three prevailing pricing models for digital marketing are PPC (pay-per-click), CPA (cost-per-action), and CPM (cost-per-mile). While CPA and CPM are used to varying degrees, it’s PPC that is the most common because it’s the model with the most benefit for the advertiser AND the website that hosts it.
The pay-per-click model works by charging a fee for each time that the ad is clicked on. Targeting the right keywords is extremely important in this kind of advertising because the more competitive a keyword is, the higher the price per click will be.
On average, you will be looking at $1-$2 per click on the Adword search network and under $1 per click on the display network. You can set a budget for each day and a limit to how much you want to spend for the whole campaign so you don’t have to worry about going overboard financially.
Social media costs are much more flexible and it’s up to you how much you want to invest. Just remember that a more targeted small investment will often be more successful than a broad large investment.
Setting aside a nice chunk of change for your advertising budget is essential if you want to stay competitive in today’s business world. It’s also good practice not to be complacent and just set and forget when it comes to advertising. Be active and involved with your businesses online exposure, boost successful posts with extra cash and restrategise after you analyse your results. Remember, you can have a great business in the making or the best website in the world, but if you aren’t exposing yourself then you won’t be going anywhere fast.