As the way we interact with the world changes, so too do the ways companies advertise their products.
Online advertising is more powerful, and more complicated, than ever before. It takes a specialized approach to run a successful digital advertising campaign today, hence the need for specialized advertising agencies that focus on delivering the best results for online platforms.
Finding Your Target Audience
The first thing you must do when crafting an ad strategy is to research your target market. Research is crucial because it gives you the insight you need into prospective customers' spending and purchasing habits.
By understanding where your market is, you can tailor your strategies to meet its needs.
Once you figure out where you are targeting your advertising and what the behaviors are of the people in that market, you must narrow your focus to a particular audience. The most effective online marketing campaigns are specific and tailored to match the needs of the people a company is directly serving.
Being too generic, especially in the beginning stages of a campaign, makes online advertising difficult and often unsuccessful. If you decide to go with a generalized ad campaign, it will cost you much more to have the same results that a more targeted campaign would have. We can serve ads to a million people, but if they don't identify with the brand or its mission they won't take action.
It costs more to get your ad in front of a million sets of eyes than it does a few thousand targeted consumers, and the difference in conversions you get with that bigger budget is negligible.
Still, identifying your target audience is easier said than done. You need to identify the people whose needs or wants your product or service caters to. You then have to find what platforms your target audience is most active on and focus on targeting those.
Consulting a Digital Advertising Agency
In-house marketers should consult experts when devising their digital advertising campaigns. Digital advertising is different from other forms of advertising, and it requires different skills to capitalize on its potential. If you want to conduct a successful digital advertising campaign, you should seriously consider employing an agency that focuses exclusively on digital advertising.
One of the most common mistakes marketers make when developing an advertising strategy is trying to spread their ad spend too broadly, which can get messy. Getting an advertisement to rank on Google is different from the process of branding and creativity that make up traditional marketing. Instead, focus specifically on the proper channels. Although branding can't be ignored entirely, it is crucial you dedicate adequate funding to specialized digital advertising.
Believe it or not, employing an advertising agency is often cheaper than the cost of in-house advertising. You have to pay the salary of an in-house digital marketing specialist, which averages around $65,000 per year, and that can increase if you deal with highly experienced people, especially over an extended period of time.
On the other hand, using a digital advertising agency allows you to work with highly talented people on a price-per-campaign basis. You can achieve success with a digital marketing agency for as little as $20,000 a year.
To get the most bang for your advertising buck, your business must deliver a targeted digital campaign tailored to a specific target audience that best fits the needs of your business and service. Employing a qualified digital advertising agency is an easy, cost-effective way to boost your company's profile, branding, and success.
Sometimes, allocating a large budget for advertising is not yet feasible. Nevertheless, advertising is still important to business success. Sometimes low-cost advertising options work best, especially for local and small businesses. Those options include tradeshows, networking events, business cards, customer referrals, community events, customer loyalty programs, and social media engagement.
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Overall, advertising takes time to perfect for your business and its customers. Find what works best for your business and stick with it.
You can always change it up and see whether different paths work better for different campaigns. Keep experimenting, learn from your mistakes, and keep up to date with your customers' feedback and industry trends to achieve ultimate business success.
More Resources on Digital Advertising Strategy
You may like these other MarketingProfs articles related to Advertising & Promotions:
- Out-of-Home Advertising for B2B Marketing Success: Matthew O'Connor on Marketing Smarts [Podcast]
- The Impact of Reddit Ads [Infographic]
- How to Identify What Advertising Strategy Is Best for Your Business: Rebecca Bugger on Marketing Smarts [Podcast]
- How to Use Interactive Ad Campaigns to Generate Leads
- Five Ways Digital Attribution Can Improve ROAS for CTV/OTT Advertising
- Seven Results-Driven Paid Strategies for B2B Marketing