Attracting new customers to your business is a critical component to any successful company, whether you’re a local restaurant or a nation-wide service provider. Relying on word of mouth typically isn’t enough, as it’s become increasingly difficult to stand out from the competition with so many platforms pulling people in different directions with ads. Any growth strategist will tell you that advertising is a must for a business that wants to grow it’s client base. But how you go about implementing your marketing initiatives and managing your advertising budget is really the crucial piece to the puzzle.
Good Advertising vs Bad Advertising
We all know that advertising works. But it’s very easy to overspend on bad advertising that doesn’t show much ROI – in the short-term or long-term. Good advertising is all about using strategies and analytics to drive GOOD traffic to your website at a reasonable price. Whereas Bad Advertising brings BAD traffic that doesn’t convert, costs too much or simply doesn’t bring any traffic to your website. At Celador Media, we utilize proven strategies to identify your target demographic, then create marketing campaigns that are guided by analytics and real-time metrics.
Looking to advertise online quickly and easily? Then Ad Networks are the best route. They allow businesses to create advertising campaigns within minutes and can publish your ads to all users within their network, which can be HUGE. Since most Ad Networks charge by the CPM model (cost per impression), it’s imperative that you check your CTR (click through rate) to ensure your ads are actually being clicked on. Otherwise, you’re literally throwing money out the window. And just as important is analyzing the performance of each ad you create to learn which are performing and resonating with your target demographics.
By far, the largest Ad Network in the world is Google Ads. They maintain an approx. 90% of the current market share for all online advertising. And what does that mean for Google? It means over $180 billion dollars each year in revenue for the tech giant. They offer a variety of advertising options, which include traditional text search ads, display ads, remarketing, Google Shopping and they also offer different cost models besides the popular CPM, like CPC (cost per click) and CPA (cost per acquisition). If you’re familiar with the Google Ads platform and know how to optimize your campaigns and ad groups, it can be a VERY powerful and cost-effective platform for marketing your business.
Facebook and Instagram Marketing
Facebook and Instagram, along with other social media networks, have emerged as legitimate platforms to market and promote your product or service. That’s especially true if your target demographic is younger or active on mobile devices. Both Facebook and Instagram (owner by Facebook) offer a robust advertising system that provides lots of options and valuable data to measure ROI and reach. Creating posts or ads that promote engagement is the key to unlocking success when it comes to social media marketing, as more engagement = larger reach/audience.
Social Media Influencers
Arguably the most popular term in digital marketing over the last 5 years is “Influencer”. Simply put, these are individuals or groups that have gained a large amount of followers (an audience typically over 100k) and can thereby leverage that reach to market various products or services. Many companies have experienced incredible success as a result of this popular trend. For instance, if a celebrity with over 20 million followers publishes a post about a particular product they tried and loved, that product can explode overnight.
Are you a local business looking to attract customers in your neighborhood? Many advertising networks, including Google Ads and Facebook Ads, offer the ability to show your advertisements only in the area of your choosing. You can target a certain zip code, city name, or even a x-mile radius around your business. Additionally, many local cable networks offer affordable plans to showcase your business locally via commercials.
Are Print Ads still Relevant?
Although most advertising has shifted towards the online realm over the last two decades, print advertising can still be a effective method of marketing. This includes advertisements in local or regional newspapers, mail pamphlet distribution or magazines. In the case of magazines, many are focused on a target demographic and maintain a loyal subscription base that can be very powerful to marketing your business.