The 3 Major Advtanges of Online Paid Marketing
In the good ol’ days, advertising your business meant purchasing ads in a local newspaper, magazine or trade publication. For a budget of $500, you could probably get a quarter page ad, in one edition of your paper of choice. By spending that same budget on an online advertising campaign, you have the opportunity to actually make a sale! In this post, I will outline 3 specific reasons that an online paid marketing campaign is a more effective strategy for your business.
1. It’s Cheaper and Effective
Paid online campaigns are by far more cost effective than traditional print and tv marketing (tv commercial, newspaper ads, billboards). Here’s why: Your average cost per impression or click ranges from $0.25 to $8, depending on the type, where as tv ads are more than 5 times that cost (and that is a cost per impression only). And there is the key; the opportunity for CPM advertising-a cost per click is virtually a cost per potential sale. You have the opportunity to grab a search user, while they are interested to visit your site. As opposed to tv or print advertising, where you have to hope they take down your information, and when they have the time, they either visit your store (or office) or call you.
In turn, you have a much higher return on investment (ROI), as potential customers have the opportunity to instantly connect with you (purchase the item you are advertising). Online ads are attached with a call to action, which will lead the individual directly to your business site, where you will have the opportunity to make a sale. That’s a potential, immediate return on investment.
It is an infinitely easier customer acquisition tool. In fact, by the time someone decides to contact you (for a service) or reaches your online store checkout process (for a product), chances are they are already committed to making the purchase. A lot of the initial leg work has already been done for you. Cost of investment is lower, and the return on investment (ROI) is higher than traditional marketing.
2. Laser Sharp Customer Targeting
Online advertising gives you the opportunity to reach the the exact customer that is looking for your product. Unlike with TV ads, with online paid campaigns, you can tailor your ads for a specific audience, with specific keywords that the user is typing, a specific service or a specific product they are looking for. You can also target your audience by gender, age, interests, spending habits and many more elements. In essence, there is no waste -only laser sharp customer targeting.
3. Specific Tracking and Analytics
The $500 spent on an SEO package or on a Google advertising campaign, can give you an engaged audience and trackable results in real time. $500 spent on Facebook can provide you potentially with a 3 month ad campaign, resulting in a new audience, at roughly $0.20-0.40 a like. Facebook will offer you a report on how many people viewed your site, how many clicked,their age ranges and other information. For other online marketing campaigns, like Google ads, your Analytics tool will provide you with specific information about the clients behavior on your site, where they came from, whether they purchased an item and more. Twitter also offers reports. That way you, you can actually create a cost analysis report.
In short, with a $500 advertising online marketing budget, you have the possibility to triple your ROI, grab online users while they are hot, target the exact audience you want and track the results in real time.
Be it on Google Adwords, Facebook, or LinkedIn, invest in your business future with a strategy that is potent. Online paid campaigns are an effective and strong advertising strategy for every business.