Running paid ads online can be a great way to grow your business when done properly. It’s easy to get them up and running, but it’s also easy to lose a lot of money in a short amount of time. There are several factors that need to be considered before running any ads. If you’re already paying for ads, make sure you’ve considered these tips.
Know your target
Whether you’re targeting a demographic or certain keywords, it’s important to get specific. The quickest way to lose money is to have a target that is too broad. You might feel like you’re going to miss out on sales if your target is too narrow. This is never the case. More likely, if your target is too broad, you won’t appeal to anyone. If you’re too general, you’ll be looked over and ignored.
If you’re using a platform based on demographics, such as Facebook, form a customer avatar based on who you’re targeting. Use this avatar to make detailed decisions about your audience. With keyword-based advertising, such as Google, use long-tail keywords to help narrow your focus. For example, if your product was the iPhone, you would focus on keywords such as “buy an iPhone” or “where to buy iPhone” instead of simply “iPhone.” If you use keywords that are too broad, you will get traffic from people who aren’t ready to buy yet.
Know your strategy
As a small business owner, you need to have a concrete strategy behind your advertising. “Brand awareness” isn’t a strategy. Brand awareness only works for large corporations that can spend thousands or millions of dollars on advertising. Your strategy should be simple and specific. Make your call-to-action something that is clear and concise. For example: “download an ebook,” “schedule a consultation,” or “apply a coupon code.”
Know your metrics
The best part about advertising online is that everything is measurable. You can track everything from clicks to impressions to sales. Using this data you can refine your advertising to be even more effective. Many advertising platforms will compile this data for you. Decide ahead of time which metrics are important to you. For some, it will be direct sales of a product, or for others it will be the number of email sign-ups. Keep a close eye on these numbers throughout your advertising campaign to make sure you’re getting the results you want.
Conclusion
You might hear from colleagues that online advertising is a waste of time or money. In reality, it can be very effective. As long as you are specific with your goals and targeting, you can achieve great results.
