When it comes to marketing, it’s easy to go overboard and overspend. There are extensive options and platforms for marketing efforts; social media posts or ads, blogs, Google ads, etc. These types of efforts are called paid ads and are effective actions. Paid advertising is a great way to stick to a budget and track results of your marketing efforts This blog will cover the benefits of paid ads and tips to stay on budget. Here are some ways to hit your marketing goals without compromising cost.
Benefits of Paid Ads
Paid advertising is simply online advertising. Some examples of the most popular paid ads are pay-per-click, social media ads, and Google ads (search ads, Gmail ads, & display ads). All of these paid ads can be utilized within the set budget. Not every business will profit from these examples of paid ads. Understanding what is effective for each business can be trial and error.
The benefits of paid ads are:
- Affordable and cost-effective marketing
- Measurable results
- Easy to reach audience
- Able to target specific customers
One of the best benefits of paid advertising is being able to track results and data, which makes it easier to adjust strategies and determine what is or isn’t working.
Aspects of Paid Advertising You Need To Know
Diving into the realm of paid ads without prior knowledge can be overwhelming. Thankfully, we’re here to help guide you. Here are some of the terms, strategies, and tools for paid advertising.
- Pay-per-click (ppc) – You only pay for each click that your ad receives. This puts you in control of how much you’re willing to spend.
- Keywords – Keywords are a major buzzword for marketing. Keywords are words or phrases that users type into search engines (primarily Google) to find relevant content. Incorporating keywords into your content and ads helps raise your rank on the search engine results page.
- Display ads – These are ads displayed on articles, blogs, videos, or websites through Google.
Tips For Getting The Most Out Of Your Budget
Exhaust Google’s Resources
Google is an excellent source that offers free support and resources. Google Ads is one of the most popular paid advertising strategies. There are several tools and campaigns Google Ads offers; search campaigns, display ads, and the major ones being their keyword planner and data analytics. A significant facet of analytics is it shows when visitors immediately leave your website after clicking on the ad. Usually, this means your website wasn’t relevant to their query, and you’re using the wrong keywords. The keyword planner tool can help ensure you’re utilizing the right keywords. The most effective keywords are high in volume and low in competition.
Set Attainable Goals
One of the first steps is to establish what you want your marketing efforts to accomplish. Creating brand awareness? Gain more website traffic? The goals should be clearly set with an outcome in mind, it will be easier to build a strategy and relevant ad campaigns. These marketing goals will help align campaigns with your values and objectives. The top goals for advertising strategies are sales, leads, website traffic, and brand awareness & reach.
Create A Realistic Budget
Once goals have been established, creating a realistic and attainable budget is essential. There isn’t an exact set amount companies need to spend on advertising and marketing, but according to the Small Business Administration(SBA), the average business spends 1.08% of its revenue on advertising. Although, the percentage varies based on industry and size of company.
Some examples of factors to include in your budget are paid advertising, sponsored content, marketing staff, software, production expenses, and marketing agency expenditures. If using Google Ads, you have the option of setting an average daily budget or a shared budget for campaigns. The daily budget is the amount you’re willing to spend each day in that campaign. With a shared budget, you set the amount for the month across multiple campaigns.
Take Advantage Of Free Tools
Utilizing visual tools for budgeting can help you stick to it and understand where the funds are being spent. There are several free or affordable budgeting tools available. As mentioned above, Google is a great tool to utilize frequently. There are also websites like HubSpot, Monday, and SBA.
Stick To Your Plan With Digital Mules
There are so many options and choices to make regarding digital marketing. It can be exhausting to navigate without any help. Digital Mules is a full-service online marketing agency that offers a range of services to reach your marketing goals. Contact us today to learn more about our services and help you master paid ads.