7 Most Popular Paid Online Advertising Strategy
As the world has grown more digital, businesses have adapted themselves. An effectual adaptation includes online advertising. Offline advertising styles were once more practical than they are now, before the advent of the Internet. To succeed now, you must use online advertising. So online advertising helps your sales increase drastically and creates brand awareness in your customer base. Paid ads also help you reach a new audience.
Businesses can now efficiently reach their target audience through online advertising. Through its success, online advertising has become more and more popular. Many companies use online advertising, including small businesses and big brands.
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Benefits of a Paid Online Advertising Strategy
There are many advantages of using an online paid advertising campaign. Here are some specific situations when a paid online advertising strategy may be beneficial:
- If you are a new business trying to generate awareness
- If you are an e-commerce business trying to drive sales
- When you need to generate leads or sales quickly
- If you are a local business trying to attract customers in your area
- When you have a specific target audience in mind
- If you are a business trying to promote a particular event or offer
Now, let’s look at seven of the most popular paid advertising strategies.
Top Paid Online Advertising Strategies
Advertising Strategy 1: PPC Advertising
Pay-per-click (PPC) advertising is one of the most popular advertising strategies. Using PPC, you can have your ad placed as one of the top search results.
PPC works using a bidding system. You select the keywords you want and bid on them, competing with other advertisers. Your ad will be placed above the organic search results when you have one of the highest bids. It is a massive benefit as you will not need to pay for uninterested people.
Unlike SEO, it is also advantageous because it generates revenue when you set it up. Search engine optimization (SEO) typically takes a few months to work. Apart from that, you can also use PPC in conjunction with SEO. PPC and SEO together will result in an overall increase in your online presence and visibility.
Advertising Strategy 2: Social Media Advertising
Social media advertising is another prevalent type of paid advertising. It works exactly as the name claims, advertising through social media. Social media here includes any platform that allows online advertising, for example, Facebook, Twitter, LinkedIn and Instagram.
Businesses can create ad campaigns to reach their target audience using tailor-made ads. You can contact your intended audience quickly with advanced targeting options such as location, interactions, and interests. Social media ads (promoted or sponsored posts) help increase your business’ engagement with your audience.
To attract your audience, you can include videos, images, or text in your social media ads. The visual appeal of your ad is essential as well.
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Advertising Strategy 3: Influencer Marketing
You have surely heard of influencers. Influencers have a loyal audience on social media (or otherwise), and using them to endorse your products can be helpful for your products or services. Influencer marketing is a trendy type of paid advertising strategy. Many businesses use this type of advertising strategy to promote their businesses.
To effectively increase your sales, you can pay influencers to make a photo or video of them using your products or services and benefitting from it. Other than this, you can also integrate influencers into your ad campaign. Thus, your ads can showcase your influencer.
Influencer marketing as an advertising strategy also offers an excellent Return on Investment (ROI).
Advertising Strategy 4: Affiliate Marketing
Affiliate marketing is a performance-based marketing strategy. The better the affiliate’s performance, the more they will be paid. There are three main parts of affiliate marketing. The parts are the business (the advertiser), the affiliate (the publisher), and the customer (the consumer).
All the components work together to ensure better profit for the business.
Affiliates promote your business’s services or products through email marketing, blog posts, articles, video content, paid advertising, social media posts, or product reviews and recommendations.
Advertising Strategy 5: Display Advertising
With display advertising, your revenue will undoubtedly be boosted. Display ads are aesthetically attractive in the form of a banner, picture, video, or text. They also include a solid call to action (CTA) so the customers know what they will get on clicking your ad. They are placed on social media, apps, or websites.
Businesses can use display advertising to promote specific content, products, or services. They can be adjusted to target specific demographics or specific locations.
Display ads are crucial in increasing brand awareness when targeted at the correct customer base and used correctly per the latest trends. You can also get new customers using this advertising strategy. Display ads also lead to an increase in your Return on Investment (ROI).
Advertising Strategy 6: Video Advertising
This is one of the most popular types of advertising used nowadays. They are used often on YouTube, other social media, apps, and websites. They are beneficial for storytelling. You can also use video advertising to showcase your products and services.
Video ads are highly effective as they capture the viewers’ attention. After watching the ad, the user may feel compelled to buy the products and services advertised. The more eye-catching your ad is, the better it is.
Video ads also have one of the highest ROI regarding online advertising strategies. You can make different types of video ads, including showcasing brand features, showing how your products are made, showing how your services work, telling your brand story, or featuring influencers.
Advertising Strategy 7: Retargeting
Retargeting is another online advertising strategy that has a very high ROI. Retargeting involves displaying ads to those users who previously visited your business’ website but still need to complete a desired action, like purchasing something. You can re-engage your potential customer’s attention and improve conversion rates.
It can often be very effective for reaching people previously interested in your products and services. If you do not use retargeting ads, those people might slip away.
Retargeting campaigns often use display ads, banner ads, and video ads. You can advertise on social media platforms like Google, Bing, or other search engines. The change in platform does not affect the usefulness of the advertising strategy- the benefits remain the same. Brand awareness will increase, along with conversion rate, engagement rate, and reduction in cart abandonment.
Other Types of Online Advertising
Some different types of advertising strategies are as follow.
- Email advertising
This type of advertising is done through sending emails to a potential customer base.
- Podcast advertising
Podcast advertising pays the podcaster to advertise your products and services.
- Banner ads
In this advertising strategy, businesses put up online banner ads to drive traffic and sales to themselves. They are one of the most common types of display advertising.
- Amazon Advertising
This is for e-commerce businesses using Amazon. They can advertise directly through Amazon as well.
- Programmatic Advertising
This type of advertising uses software to buy and put ads in real-time on different platforms. Using this method, businesses can target specific audiences.
Apart from advertising strategies, you can also increase your sales by using the WooCommerce Popup Cart plugin to display an attractive success popup when a user adds a product to their cart.
To conclude, many highly effective paid online advertising strategies and methods exist. Some are PPC advertising, affiliate marketing, social media advertising, influencer marketing, display advertising, retargeting, and video advertising.
Other methods include email advertising, podcast advertising, banner ads, Amazon advertising, and programmatic advertising.