You need to invest in digital advertising now. Here’s why.
Online advertising is an essential and necessary tool in every business’s marketing strategy. It’s more nimble than traditional advertising, helps increase brand awareness, and drive sales.
Have you noticed advertising billboards and wallscapes in shopping malls and train stations? Known as traditional media advertising, these ads can cost a small fortune – which is why they are used mainly by established brands, such as banks, airlines and telcos. For example, you would need between S$26,000 and S$88,000 to stick your ad on the platform doors of one train station for just a month.
As a small business owner, this is probably beyond your budget. But there’s another way to get your name out there at just a fraction of these prices – online advertising.
Here are four reasons to take your advertising online.
1. Numbers you can’t get anywhere else
2.23 billion. That is the number of active Facebook users each month. The figure stands at 1 billion for Instagram. And search engine giant Google processes about 3.5 billion searches each day across the world.
These staggering numbers mean one thing – businesses cannot ignore or underestimate the reach that digital advertising gives them. Your potential customers are within this massive pool of people. And the best way to connect with them is to get them where they gather – on these platforms, where they regularly interact with and consume content.
The numbers may seem huge, but don’t get intimidated by them. There is still plenty of room for businesses to take their advertising online. Even with Facebook’s large, engaged user base, the platform has just 6 million active advertisers as of the first quarter of 2018, which works out to be 0.3% of its active users. The number of users way surpass businesses advertising on the platform – you will constantly be reaching out to people who have never heard of your brand.
2. Fast, easy and transparent results
Some marketing efforts such as search engine optimisation (SEO) might take months to produce results, but advertising on platforms such as Google Ads (formerly Google AdWords) is a sure way to quickly get your business on to the first page of Google, putting you ahead of organic search results.
And the one big advantage of online advertising via established platforms is the ability to track how well your ads are doing. You know how many people clicked on your ad, the keywords that Internet users searched for that led them to seeing your ad, and how much each click cost you.
3. Ability to target the right people
Source: Facebook Ads
Facebook pushes ads to its users based on their demographics, the ads they click on, and their online activities.
What is it that Facebook, Instagram and Google have in common? Their users share personal and intimate details of their lives through the internet giants, giving these companies a treasure trove of insights and data.
This is good news for businesses, as it means your ads can be pushed out to a specific target audience based on demographic, behaviour, lifestyle, interests or connections.
Facebook, for instance, uses user data such as gender, birthdate and location to decide which ads would be most relevant. The social networking site also tracks other sites that users visit while they are logged on to Facebook.
So if a 30-something female reads about enrichment courses for toddlers while being logged on to Facebook, the social media site will be able to deduce based on age and Internet activity that the user is most likely a young mother interested in early childhood education. And Facebook would be more likely to push relevant parenting ads to the user.
By targeting people who are already interested goods and services similar to what you offer, you are more likely to convert these users to customers.
4. A budget that works for you
On Google, business owners pay for ads only when users take action, such as clicking on an ad. Google pushes specific ads to users based on their location and internet behaviours, such as this ad for a flower vase.
Another perk of online advertising is that businesses can control upfront how much money they want to spend, and for how long.
Google, for example, charges a fee only when users click on an ad to visit the website. This means business owners pay only when the ads are working – there are no charges for displaying the ads. And businesses get to set their own budget – if you are new to the ecommerce game and don’t want to spend too much on advertising, that is completely fine. You get to set a budget you’re comfortable with, and decide how long your ads will run.
On Instagram, businesses choose how they want to pay for ads.
For Facebook and Instagram, they base their advertising costs on impressions (CPM), clicks (CPC), or actions (CPA). Businesses opting for CPM pay to have their ads displayed to a fixed number of users. Those opting for CPC pay only when someone clicks on their ads. Businesses that choose a CPA model are charged when users take specific actions after seeing the ads, such as liking a post, claiming an offer, or installing an app.
The benefits of digital advertising are clear. It allows small business owners to remain competitive, get their name out there at low cost, and even take on the big boys online. The potential for success is simply too big to ignore.
Don’t worry if you don’t know where to start. With Adtiq, an online advertising platform integrated with Google Ads, Facebook Ads and Instagram Ads, digital advertising is made quick, simple and affordable for you. Sign up here today!