The marketing regime relies heavily on advertising, which has been a crucial component for many years. However, Traditional Marketing’s effectiveness has declined in the present era, while online advertising has gained more prominence as a proven strategy to increase website visits and improve conversion rates.
It can be a wise decision to allocate some of your business’s budget towards online advertising, regardless of its size or your preferred spending approach.
When considering your overall business marketing plan, take into account how these popular online platforms can align with your objective of targeting the ideal audience and increasing the chances of potential customer conversions.
1. Google
In order to appear on Google Maps and in searches for similar local businesses, it is recommended for all businesses to establish a free Google business profile.
Google Ads is the preferred choice for companies of all sizes when it comes to paid advertising online. It is the leading company in the nation for capturing digital ad revenue, receiving approximately 28.6% in 2021, compared to Facebook’s closest rival at 23.8%.
Google operates two ad networks: search and display. We’ll examine each in turn.
Google’s search network
The advertisements you see above or below the organic search results on google.com are provided by this platform. They are labeled as “Ad.” Google utilizes a sophisticated, real-time auction process to determine which ads to display to you. This process considers the “keywords” that individuals may enter into the search bar.
Google determines the value of each keyword by considering the search frequency and level of competition. While anyone can participate in the keyword auction regardless of their budget, ads from top bidders are more likely to be displayed.
In order to optimize your ad expenditure, search for keywords that are relevant to your product, frequently searched for, and have low competition.
Google’s display network
The auction process on Google’s Display Network is similar to that of the Search Network. However, instead of competing for ad placements on google.com, you are competing for ad space on Google-owned sites other than google.com or on third-party sites partnered with Google through acquisitions, such as AdSense.
If you have ever looked for a product on google.com or been on a non-Google website, and later saw an advertisement for that product or webpage on a completely unrelated third-party site, then you have observed Google’s Display Network (or a similar platform) in operation. This employs retargeting, a marketing strategy wherein marketers try to sell you products or services by considering your previous online activities.
The Search Network is more targeted and thus more effective than the Display Network. However, even though it is relevant, the click-through rates on the Search Network are not as high as one might expect. According to Wordstream, the average CTR for the Search Network is 3.17% across all industries, while it is 0.46% for the Display Network.
In the process of advertising your business online with Google, the last step is to make a decision regarding the type of keyword bidding. The two most frequently used types are cost per click and cost per mile.
Paying only when someone clicks on your ad is the CPC model, which is beneficial for boosting website visitors. Even if your ad doesn’t receive any interaction, you won’t lose advertising funds; however, CPC can still be expensive.
The abbreviation CPM stands for “cost per one thousand” which represents the cost of reaching one thousand impressions (people who view your page). Google charges a higher fee for this choice, as they believe that the more customers who view your ad, the more favorable the business result will be.
2. Bing
Microsoft’s Bing operates on a comparable basis to Google, encompassing bidding, keywords, and a search and display network. Bing’s scope is not as extensive as Google’s; however, the prices are equivalent. This implies that there is less rivalry for popular keywords, leading to reduced expenses, allowing your advertising budget to have greater reach.
When considering your target market, think about whether Bing is appealing to them. Among individuals aged 35 to 54 who are more affluent, Bing holds a significant market share in the United States. Similar to Google, Bing provides a free listing service called Bing Places for local businesses. Even if Bing is not the ideal option for you, it is advisable to make use of this feature.
3. Facebook
When it comes to targeted advertising, Facebook is a dominant force. If you have a particular audience in mind, you can refine your Facebook ads with great accuracy. This can be done by focusing on a specific range of unique interests or recent behaviors, such as their current vacation planning status.
Facebook provides multiple options for placing your advertisements, including on the homepage, in the newsfeed of consumers’ desktop or mobile devices (accessible through the Facebook app or web browser), via brief videos displayed during Facebook Live sessions or within Facebook Watch programs, in Facebook Stories, and on the Facebook Marketplace.
Just like Google’s Display Network, the Facebook Audience Network also exists. Facebook also employs a bidding system, but in this case, your entire ad is up for auction rather than just the keywords or phrases. Similar to Google, your bids on Facebook are determined by the daily budget you have set.
Just like Google, you have the option to choose between manual or automatic bidding. By selecting automatic bidding, your campaign will be optimized according to your desired goals, such as conversions or impressions. With manual bidding, you can have more control over additional settings, such as setting a maximum price per ad for individual bids or accepting an average price per bid.
By having an average price per bid, Facebook gains a slight edge by being able to slightly raise your bids in specific auctions, ensuring your victory. However, it is worth noting that maximum bids remain fixed and will not be surpassed by Facebook unless instructed otherwise.
4. Pinterest
Pinterest is a popular platform, especially among the younger generation, that provides its users with millions of carefully selected ideas. The Pinterest board is visually appealing, featuring photos and videos, and includes promoted pins as advertisements.
The ads on Pinterest are effectively integrated with the natural content, creating a strong sense of trustworthiness for users. Instead of perceiving it as spam, they actively engage with the ads by clicking on the links. Despite using the PPC model, Pinterest’s approach is effortless, engaging, and produces profitable results.
5. Amazon
Amazon is a highly successful e-commerce company that provides the convenience of shopping from the comfort of one’s own home. Additionally, it allows individuals to promote their businesses from the comfort of their homes.
Amazon is a great platform for advertising due to its users. This is because there is a considerable number of Amazon and Amazon Prime users, estimated to be around 600 million. Advertising on Amazon provides an excellent opportunity for promoting your business. Particularly for product-based companies, it is highly beneficial as Amazon users are primarily focused on shopping, aligning with their intent.
One more advantage of Amazon is that the Amazon Ads are shown on the primary Amazon site, other sites which are owned by Amazon, and the Amazon devices. Additionally, it is not required to be an Amazon seller.
a. Amazon ads for sellers
The ways in which the sellers can advertise on Amazon are as follows.
- Sponsored Products
- Sponsored Brans
- Sponsored Display
- Amazon Stores
b. Amazon ads for Non-sellers
There are several ways in which individuals who do not sell products can advertise on Amazon.
- Video Ads
- Display Ads
- Custom Ads
6. YouTube
YouTube is a consistently popular platform that remains in trend indefinitely. It has proven to be reliable in retaining users of all ages, as billions of hours of videos are watched by users on a daily basis.
YouTube is an excellent platform for video ads, as it allows you to generate and upload engaging videos to promote your business. Additionally, YouTube offers a handy tool for creating captivating videos that can successfully attract viewers.
7. LinkedIn
If your company operates in the business-to-business sector, it would be beneficial to consider utilizing LinkedIn, which is currently under the ownership of Microsoft.
LinkedIn offers several popular advertising options, including sponsored posts or videos that are displayed alongside user-generated content in user feeds, text ads with a small photo that appear on the right-hand side of any page on the platform, and sponsored in-mail that delivers personalized emails to a user’s inbox.
LinkedIn ads can be targeted based on the company’s size, the individual’s title, their industry, and their location. The ads are set to run with a predetermined daily maximum budget and can be paid for on a CPC, CPM, or CPV basis.
8. Twitter
Despite the surging popularity of social media platforms like Instagram and Facebook, they may not necessarily be the ideal online platforms for advertising. Other platforms, such as Twitter, offer better opportunities and a more refined user base.
Twitter is a social media platform renowned for its professional users, making it an ideal platform for B2B advertisements. However, it is not exclusively limited to this demographic; Twitter also attracts the younger generation, including intellectuals, who actively engage on the platform.
By utilizing the appropriate hashtags, tweets, and trends on Twitter, you have the ability to generate substantial engagement simply through promotion. Additionally, Twitter provides a keyword bidding system for their advertising platform.
Twitter stands out from other competitors due to its advertising model featuring a negligible Cost Per Click. Rather than being charged per click, advertisers are only required to make payments upon successfully achieving their advertising goals. For instance, if the goal is to boost follower count, advertisers are billed each time they gain a new follower.
By utilizing digital marketing services, your business can experience a sudden boost in demand. Implementing digital marketing services brings in customers to your physical locations or motivates them to access your website, enabling you to allocate more time towards excelling in providing exceptional services or products.
