Paid advertising is any kind of (digital) advertising that you have to pay for, versus owned or earned advertising. With paid advertising, marketers pay the owner of adspace in exchange for use of that space… There are several categories, including pay-per-click (PPC), pay-per-impression (PPI), and display ads. (TrackMaven)
Paid advertising helps you standout from the competition which:
- Builds Awareness of your products or services
- Educates your audience
- Channels Traffic to a sales page
- Promotes discounts, specials, and hot deals
How does it work?
There are different ways to strategize paid advertising, and it’s all determined by the goals you have setup before hand. When advertising to specific demographics, you’ll want to research what’s the best way for you to advertise. Also thick about which platforms such as Instagram, Facebook, Youtube, Google, and niche based communities that attract your audience. Advertise in networks and platforms with highly engaged users in your subject.
Why is Paid Advertising important?
- Compliments your SEO. This proves you’re active when you engage with paid advertising. It also increases the probability someone will engage with you.
- Determines broad or targeted reach. You can get very specific about what markets you want to target. This is great to test which demographic is best for you.
- It’s cost effective. Start small, measure, and grow big — it’s a big misconception that you have to allocate thousands of dollars for an ad budget, but the best way to scale is to start small and invest more in what you see is working.
- Easiest way to test a product or service. Directly test with targeted traffic if your website is converting leads. It’s a good investment for companies thinking long term.
Who uses Paid Advertising & Pay Per Click?
Most businesses regardless of age and size stumble upon paid advertising. Whether Whether they continue to advertise will entirely depend on ROI. Businesses promoting a new service or product use paid advertising to get a boost. The businesses that really need to focus on paid advertising are those that are competing in a very saturated market.
Paid advertising is also a great way to test the waters before investing heavily into a market. You can see if you get traction in another location or demographic and test to see what works best before you invest.
When should you start paid advertising?
Do you have a new service that you’re introducing to the community? What about a new hot product that you want the world know more about? Is competition pretty stiff in your geographical area? If you answered yes to any of these questions, it’s time to figure out a budget to get started with paid advertising.
How do I get started?
First, we need to complete a digital evaluation for your business. Let’s determine where you stand amongst your competition and the rest of the world. Then, let’s evaluate what your goals really are, and what they mean in terms of local marketing. We’ll setup a concrete battle plan to achieve said goals and track its performance to better report your ROI.