Building your brand online takes a lot of effort because online advertising is very competitive, and every business wants to be on top. Online advertising or Internet marketing involves using the Internet in promoting products and services to consumers, wherein the ad messages are seen on smartphones, tablets, laptops, and other Internet-capable devices.
However, consumers hate online ads and tend to block them for different reasons. So, how do you take advantage of the benefits of online advertising, such as broader consumer reach and increased brand visibility? Check out the helpful tips below to find out more.
Consider Important Factors
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You can’t just choose any online advertising that you think will work just because your competitors also use it. It’s important to deep dive into your advertising needs as a business and take important factors into consideration before creating an online marketing plan. Working with a trusted and experienced digital marketing agency can help you create an effective online advertising plan in order for you to reach your sales and marketing goals. Click here to find out more.
The factors that come into play when it comes to proper advertising can vary, so here are the important factors you have to consider in online advertising:
- Target Audience: Targeted advertising is highly recommended than general online marketing because you want to ensure that you only spend money on consumers that your brand will benefit from. For instance, in Facebook advertising, you can use Facebook Pixel to help you set your target audience so you’ll only pay ads that were delivered successfully to your target audience.
- Cost: One of the benefits of online advertising is electronic communication, which is far cheaper than traditional campaign ads, like newspapers, radio broadcasting, and TV. However, you should set an appropriate budget to reach your marketing goals efficiently and avoid wasting money (will be discussed further below).
- Measurability: With metric-tracking software and apps, it’s easy to know how your online marketing ads are doing even in real-time. But it’s important to choose a tracking system that is reliable, such as Google Analytics, to ensure that you can collect relevant data you can use to make important business decisions.
- Format: You have a wide array of options when delivering your promotional messages to your target audiences, such as images, videos, audio (like podcasts), infographics, and links. Choosing the best ones that will work for your niche and target audience will help you create the best online marketing plan. It’s a good thing that online marketing publishers are offering advertisers the ability to reach narrow market segments that can be customized for targeted advertising.
- Coverage: Do you want to market your brand locally or globally? Determining the coverage of your online advertising strategy is crucial because it greatly influences your offline sales.
- Speed: You can choose an ad delivery method that is deployed immediately or a scheduled ad deployment, whatever is more beneficial for your business.
Set an Appropriate Online Advertising Budget
In any form of advertisement or marketing strategy, there’s always money involved. So how much are you willing to spend on promoting your brand? Whether you’re planning to market your business through pay-per-click or PPC marketing, email marketing, social media marketing, or any type of online advertising, prices increase.
It’s important to set the right budget for your online advertising so you won’t run of risking all your revenue on ads and focus on implementing ads that really work. It helps you properly budget your money and create effective online advertising strategies that won’t go to waste.
Here are the top methods for setting an appropriate advertising budget that’s usually used by successful independent businesses:
- Fixed Sales Percentage: This budgeting method is safe and easy to understand. Allocation of a specific percentage with your average sales (past few years) or total gross sales (last year). The recommended percentage of allotted for advertising is between 2 and 5 percent of your advertising’s annual revenue. For example, if your annual sales are $400,000, then spend $8,000 to $20,000 on advertising.
- Comparable to the Competition: If you have predictable sales patterns, this budget method is applicable for you, wherein the ad budget is obtained from the recommended industry average supplied by industry publications and trade associations.
- Objective Budgeting or Task-Based: This method is more accurate than other budgeting techniques because the use of funds is directly associated with the tasks or objectives you want to achieve. It involves estimating the cost of each task to spend whatever amount of money it needs to become successful.
- Maximum Amount: It is an aggressive method of setting your online advertising budget that offers rapid growth and promotes fast-growing businesses. This budgeting technique is recommended only to those with a solid reserve and experience in online advertising to avoid wasting money on unnecessary ads.
Choose the Best Place to Advertise Online
It’s crucial to choose the best place where you can advertise your brand online. In that way, all your online marketing efforts will not go to waste because you’re confident that your promotional messages will be read and appreciated by your target audience.
Here are some of the best places to advertise a business online:
- Google: The top choice for businesses today when it comes to online advertising is Google through Google Ads or formerly known as Google AdWords via search and display found in organic search results when an online user enters a query in Google.com and ad placements on sites owned by or are partnered with Google.
- Facebook: When it comes to effective target advertising, this social media platform is a powerhouse. You can target your audience depending on their demographics, interests, and behaviors through the Facebook Audience Network.
- Instagram: This social media platform is applicable for branded content and marketing to millennials and post-millennials, who usually distrust traditional advertising. However, they tend to listen whenever their favorite celebrities endorse products or services via social media, like Instagram.
- LinkedIn: For businesses that are business-to-business or B2B enterprises, LinkedIn is the best choice. It is the best platform to advertise your B2B company where well-educated, high-level, and affluent professionals spend a lot of online hours.
Online advertising is an excellent way to build your brand online, which also extends offline when planned and implemented correctly. Because a lot of consumers shop online, e-Commerce is a hit, and various online marketing strategies are being used to attract more customers. Online advertisers, publishers, and digital marketing agencies can work together to attain marketing objectives through proper budget allocation and considering important factors that can significantly influence the choice of effective online marketing strategy.