Why do companies need digital advertising?
In the past, businesses relied on newspapers, magazines, radio, cable TV, and billboard ads to grab attention and sell their products. Today, digital advertising surpasses traditional forms and is vital to a company’s success. As consumers stayed at home during the Covid-19 pandemic related lockdown and spent more time online, spending on digital advertising grew 24.7 percent.
Customers spend more time on social media now than a website. Gaining ground in social media has become one of the most necessary factors to increase business appeal and revenues. We have witnessed just how important digital mediums have been throughout the pandemic, and how they will continue to play a leading role in the path to economic recovery.
The best part is, running advertisement campaigns on social media platforms costs little when compared to traditional marketing techniques.
A properly planned and well-targeted digital marketing campaign can reach the right customers, is cost-effective, and also tells you how an ad is performing in real-time.
With the flexibility for ads not delivering as expected, they can be tweaked accordingly or stopped completely with ease.
What is digital advertising?
Unlike traditional advertising, digital advertising invites users to click on the ad and go directly to a preset landing page. This may be our social media channel, website, or a custom page designed for that ad campaign. With digital ad spending expected to reach nearly $400 billion in 2021, some of the core components of a great digital advertising campaign to keep in mind are:
- Educate consumers about your product or service
- Convince customers that your product or service is better than what your competitors offer
- Improve your brand’s image
- Promote a new product
- Create a need or desire for your product or services
- Attract or retain customers
Why do companies need digital advertising?
It’s better to be over prepared than under prepared and having the right knowledge makes that possible. It’s devastating when your digital advertising campaign doesn’t perform well, which is why in this post, we’ll take a look at some of the major advantages and strategies of advertising online:
1. More Affordable
The cost of online advertising is generally more efficient and less wasteful. With something like PPC (pay per click), you are only ever paying for each time someone actually clicks on your advertisement, rather than paying an upfront large sum regardless of results.
2. Better results with retargeting
This is known to be an extremely effective way of bringing more customers in, and it’s not something you can easily do with many offline methods of advertising. Through the use of the tools available on social media platforms and your own website, ensuring brand new visitors are approached differently than returning customers results in effective display ads.
Using social media networking and other resources, you can build up a near-perfect picture of your target demographic. As a result, you will be able to target your ideal consumers much more profoundly and effectively towards the right path.
3. Great product & demographic testing
If you are thinking about trying out a new demographic, you will also need to test for that.
Advertising online makes this easier, with positive and negative reviews collated effortlessly as part of this process.
4. Effectively track your results
With online advertising, you can easily track and record all results from campaigns completed or in-progress. This gives you essential information on whether or not your campaigns are working and where they may need improvement.
5. 24/7 work time
Even with television advertising, you are unlikely to attract much attention in the middle of the night. But with the online world, everything you do is out there all the time, whenever someone might happen to log in.
6. Personalized campaign
With online advertising, it is easier to personalize your campaigns, primarily because of the increased opportunity you have for data collection of your customers’ data. You can even use this to segment customers, so that you can set up various campaigns to approach different groups.
Diversification is always going to be an important part of this, so you can use a variety of strategies to reach people in the most effective way.
8. Developing relationships
With online advertising, engagement is simplified, as you can easily harvest email addresses and set up a campaign to build that lasting relationship. By regularly replying to comments and listening to feedback, it’s possible to build better and more effective digital advertisements.
9. Free traffic
Through the power of blogging, videos, and creative content, you can use the power of search engines to bring people back to your site again and again without having to pay each time. This requires consistency, but has long-lasting results. Find out how to optimize your website for search engines.
Who’s ready to increase their business?
2020 forced everyone to think digital first. In 2021, digital advertising will play an even bigger role in your marketing mix. Digital advertising has many advantages, one of them being connecting with your target audience easily.
If you’re ready to design an impactful digital advertising campaign, we’re ready to help at NANOS AI.