Which marketing strategy will you be inclined to use in 2020? Branding? Paid Ads? Inbound marketing? Social media? Or a carefully crafted combo of all four?
Here, we will dig deeper into the realm of paid advertising and answer some questions, such as:
- What are the advantages of paid advertising,
- How forecasting comes into the equation and why you should forget faith-based marketing,
- Which type of business paid ads will work and which won’t,
- B2B and B2C paid advertising, and
- Where the future of the industry is going, in our expert opinion.
Advantages of Paid Advertising
1: Organic reach on social media is down. Paid ads can generate fast results.
According to HubSpot (2019), studies indicate that Facebook users are now only seeing 2% of organic pages they follow on their feed. Typically, organic content on social media is used for branding or creating brand awareness.
With paid advertising, you are guaranteed reach and can utilise your content to elevate your brand with specific targeting strategies and obtain more qualified leads. In the case whereby your website is not ranking on the first page of Google results for a search query, paid advertising may be an option. Paid advertising can enable you to place ads for keywords and bring in high quality traffic to your website without the work and time investment on SEO.
2: Ads are very affordable and measurable
When you are running paid advertising campaigns, you are able to reach a very broad and large audience. Costs related to paid advertising are dependent on the objective or the type of ad you are running. For example, if your objective is to boost website traffic then you will incur a cost-per-click (CPC), or if your aim is brand awareness you will incur a CPM (Cost Per 1,000 Impressions).
Ads can be created in mere minutes and there are many tools that help you to create the necessary images at a very little or no cost at all. You can also keep track of the money you have spent on all paid ad platforms from Google, Twitter, Facebook and LinkedIn advertising. You can set daily budgets and total budgets for campaigns so that you never over-spend.
3: Specific and granular targeting are available
Paid targeting can be very specific and allows you to reach relevant visitors who are interested in your brand and fit the demographics of your sales personas. Take a look at your analytics across all your digital platforms and analyse your audience to identify common factors such as keywords, locations, demographics, job titles, interests and common topics. You can use all of this information to refine your paid campaign targeting and net in more qualified leads, and thus increase conversions.
Once a visitor has browsed your website or clicked through an ad, you can run a retargeting campaign to continuously engage prospects who have shown interest in your product or service. By doing so, you are constantly in the back of the mind of your potential customers.
4: Broadcast your message across multiple platforms
There is a plethora of platforms to broadcast your brand and unique messaging across. You can make use of display banners on the Google Display Network or simply have text ads appear above people’s searches on Google. Today, nearly all the social media platforms have paid advertising available, especially the most popular ones, such as:
There are so many options for you to choose from and a variety of different campaigns to suit your every need when considering paid advertising. When conducting audience research, find out what digital platforms your primary target audience is using. Identify the platforms that have paid advertising available, and then you are on your way to paid advertising glory.
This is why paid advertising is the next natural step for your sales and marketing funnel. There are many possibilities, platforms, and types of campaigns to choose from. You can tailor your brand and message in any way you see fit and consistently test to see what works and does not. Eventually, you will strike gold and find yourself with more quality leads and conversions.
Forecasting and Faith-Based Marketing
Faith-Based Marketing has become less favourable over the years and forecasting is the current and future trend as new innovations are on the rise providing more accuracy and monitoring of a company’s growth.
Social media sites like Facebook and Twitter now provide pixels (basically a snippet of code) that companies can put on their sites to ensure they are tracking exactly who is converting and the resulting ROI.
With this new tracking feature, marketers can now work on optimizing their ads to increase conversions, or even end a campaign if they are not getting a good enough ROI from it.
Type of Ads That Work
Here’s a quick summary from the Pew Research Center showing who’s using which social networks in 2019.
Statistically, short videos tend to have higher completion rates. However, if you’ve got a compelling message you can go a little longer.
By having interesting and compelling content, you will gain more social followers and brand loyalty. Engaging content is one of the top 3 reasons people follow brands on social media.The main advantage is that your website conversion rates will increase.
The Content Marketing Institute research shows that website conversion rates are nearly six times higher for companies who have adopted content marketing. The future is LCD-bright and if social media sites continue on the road of adtech innovation, the limit stretches far and beyond the clouds.
Future of Paid Advertising
Marketing is a very dynamic industry and keeps changing. Some of the expected marketing trends in 2020 (i.e. content marketing and chatbots) have already been popular in the past, while others such as PPC (Pay Per Click) are on their way to dominate the industry.
Some of our predictions for 2020:
- Digital marketing will continue its unpredictable evolution and marketers have to keep up or risk alienating their customers.
- Peer reviews will dominate the industry more than ever before.
- Soliciting online reviews will become even more important.
- Amazon will hit its stride.
- CPC and CTR will continue to evolve at a faster rate.
- Meteoric rise in e-commerce advertising.
- Virtual and voice search will take off.
- Growing increase in the use of AI, machine learning and digital advertising targeting predominantly Generation Z and Millennials use and interactions online.
- Privacy regulations will provide better security as well as offer stricter terms and conditions.
- CMOs will tackle Ad Fraud and “Fake Reviews/Views”.
- Mobile user-friendly systems that will go hand in hand with digital advertising.
- Video and PPC are going to be more popular and new marketing strategies will be tackled as a result.
- Demand for Content Marketing will rise as traditional TV advertising will gradually dim down.
- Advertising will shift more so than ever to famous platforms such as Facebook, YouTube and Google.
- Multichannel campaigns will be most popular with sellers and improve the chat marketing on omni-channel experience.
- Companies such as Palapa, WordPress, BuddyBass and Mighty Networks are going to see a lot of growth.
- Marketers will be focusing more on client needs instead of “marketing needs”.
- Continued rise of Podcasting.
What are your predictions for 2020 marketing trends?