Since the arrival of the internet and a more digital world, paid advertising has changed the marketing industry drastically. No longer are adverts restricted to static images on billboards or scattered in printed newspapers. Your services can be broadcast to a much wider range of your target audience no matter their device or location.
Paid advertising comes in many different forms, with some being much more effective than others. The most common method is pay per click. PPC allows businesses to pay per click they receive on their advert, rather than a hefty up front cost. PPC includes Google AdWords and Facebook advertising among a multitude of other social and digital platforms. It can be a great advertising solution for businesses of any size, but you must be aware of your return on investment – if you are spending £500 a month on advertising efforts but are only making £20 then it is probably not worth your time and digital marketing efforts.
A Defined Target Audience
It is impossible to sell your products or services if you aren’t aware of who you are selling to! By taking the time to confidently define your target audience, you know exactly who your target demographic are for your advertising efforts.
Targeted marketing allows you to focus your message on the right market and drive the right people to your site. With a target audience definition to work with, you can spend less, and earn more. This is down to reaching the most valuable leads in your network, rather than everybody and anybody. For example, if you have an established shopify store selling dog food your target audience will obviously be dog owners. There is no need to target as many groups as possible as cat owners will have no need to click through to your site and convert – so you have wasted your time and your money.
Confidently Priced Services
The time you spend on your business is valuable, yet pricing can be a difficult aspect for some businesses. If you are not confident with your skill set or product value, you may not have your rates solidified. This makes it virtually impossible to move forward with your marketing strategy.
Your pricing is a key reflection of everything you do as a business, from your product development all the way down to a link to your website. Because we exist in a world driven by value. The right pricing approach is essential to remain competitive and prove that you are confident in your business. It brings you the value you deserve for your products and services offered – and secures the profits you need to invest in change and growth.
A Detailed Marketing Funnel
A sales funnel is a visual representation of the steps a visitor takes from first finding out about your services up until they convert. Online, this is usually executed via a series of strategically placed landing pages. They are usually placed one after another to form a solid conversion path, with CTA’s linking between one another.
By thoroughly understanding your customers journey, you can optimise the pages they come in contact with leading up to a purchase in order to increase conversions. The easiest way to optimise your marketing funnels without being an expert is to simply have your current audience go through it first. There is already a level of trust formed with your current audience (which is called a warm audience in the digital marketing world) and they are more likely to sign up for whatever you present in front of them.
Run the advert to your warm audience. Monitor how it performs. Then make the necessary modifications. This will ensure it performs well for your current audience before amplifying it by running paid ads. This can certify that you are not going to waste your money.
An Adequately Assigned Budget
Your assigned budget is entirely down to the size of your business and the amount you can afford to invest. A solid paid ad budget will help ensure you don’t hugely over (or under) estimate your likely cost per conversion. If you don’t take the time to assign a budget for paid ads, you can either end up spending too little or too much. You may end up throwing £5 or £10 on a few social posts and expect a huge result. Yet, on the other end, you may get very excited and start spending £50 here and £100 there. It all adds up quickly.
What you should be doing is deciding upon a monthly number and being disciplined in not going over that amount until you have solid results. If it is your first time running paid ads and are unsure of the number to work with, it is important to carry out research on the platform you are advertising on and what the current competition in your industry are doing.
Optimised Landing Pages
Landing pages assist you in tracking who comes to the page and exactly how effective your ads are. Before you spend your hard earned money on paid advertising, it is crucial to audit your website. Especially your landing pages that your ads will be navigating to. Heat mapping software is a great way to analyse visitor behaviour and make informed decisions regarding your page optimisation.
Your desired landing pages should be fully optimised for user experience and equipped with strong CTA’s. This will guide your audience through the desired conversion path you constructed in our third point.
Organic reach is getting harder to come by and industry competition continues to grow in the online space. Paid ads are often the best way to ensure that you are reaching your target audience.
Yet paid advertising is not a quick fix, it takes vast amounts of planning and ongoing revisions. Don’t expect to be finished in a week or two, you must give your ads time to do their job. The more you approach paid advertising strategically and set realistic expectations, the sooner you gather a positive ROI.