Paid marketing is one of the quickest ways to help potential customers discover your brand and offerings. With paid marketing, you purchase advertising that allows you to specifically target audiences, instead of waiting for them to find you organically.
Paid campaigns can utilize one or more digital channels, including search engine results pages (SERPs), social media platforms and websites. In addition to the display advertisements you’ve likely seen in SERPs and web pages, paid marketing can also take the shape of sponsored social posts and guest blogs.
How does paid digital advertising work?
Paid digital advertising is a marketing method where companies pay a publisher (like a search engine or website owner) each time someone clicks or views their ads in a search result, on a website, on social media, or on a miscellaneous digital platform.
With this approach, you can essentially buy attention, rather than the (often long-term) approach of earning it organically.
Benefits of Paid Marketing
Today, it’s highly likely that new customers will first encounter your brand online. In fact, 87% of retail shoppers begin their searches on digital channels, regardless of whether they ultimately make a purchase online or in a brick-and-mortar store.
Meanwhile, research from Google indicates that 67% of B2B purchases are influenced by digital content and advertisements.
Without a digital presence, your potential customers may never find your brand. Paid marketing can benefit your growth strategy by
- Building brand awareness.
- Encouraging customer engagement.
- Allowing you to target specific audience segments.
- Giving you the ability to measure and optimize your campaigns.
Compared with organic marketing, paid marketing offers faster results and more granular targeting capabilities. For example, you can target a blog to a specific audience through a keyword strategy, but you may still reach people who aren’t interested in your offerings. Meanwhile, paid strategies empower you to target your messages based on user signals like search queries and previous interactions with your brand.
Major Types of Paid Marketing
There are four basic forms of paid marketing, each with its own benefits
1. Paid Search Marketing
Also known as search engine marketing (SEM), this strategy serves text and image ads to users searching on platforms like Google and Bing.
Use location-based bidding to target people in your business’s area.
2. Paid Social Media Marketing
This strategy allows brands to target social media users with ads based on their interests and interactions. Posting and promoting content on social media consistently is a secret to pushing your message to the right audience.
3. Display Marketing
Similar to SEM, display networks serve ads to site visitors. Retargeting technology can hyper-target users based on their browsing history.
Make sure your display ads have a clear call to action to encourage the viewer to click.
4. Influencer Marketing
B2B and B2C marketers can work with influencers – people with large social followings – to strategically promote their offerings in a more personal manner.
Be sure to do plenty of research to find a legitimate influencer who you can trust with your company’s valuable marketing dollars – there are plenty of wannabe influencers and fake social media stars.
Each type of paid marketing strategy serves a unique purpose at various stages of the buyer’s journey. Not every brand uses every form of paid marketing, but it’s considered a best practice to use more than one type. Doing so ensures users in various channels see your messages.
How to reach your goals with paid marketing? :
The goal for your paid marketing drives many of the decisions you make throughout the campaign. By having a specific goal, you can increase the effectiveness of your campaign. Here are four common goals and how to use paid marketing to achieve each one.
Sell products directly from the ad
While the goal of all companies is to increase sales, some campaigns’ goal is to sell products directly from the ad. Combine this with other goals so that you can fully leverage the power of paid marketing.
- Create shoppable social media posts. By using Instagram shoppable posts, you can make it as easy as possible for customers to purchase from your post.
- Use high-quality images to show off the product as favorably as possible. Make the product the centerpiece, and when possible, showcase the most popular features. If you are selling garden tools, you may use an image with the garden tools next to a beautiful garden. Consider hiring a professional photographer for images or investing in a high-quality camera.
- Find top influencers in your industry, and offer payment for them to share your content. This increases your reach and credibility because influencers share your product with their network. Paid influencer programs work well when moving into a new target audience or adding new products. Look for influencers whose values align with your brand and whose followers would be interested in your product. While you want an influencer with a sizable following, a smaller, more engaged following that is more targeted to your customer type may result in higher ROI.
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