Why You Should Not Underestimate the Power of Paid Media
Today’s immensely competitive market has definitely put obstacles in front of big and small businesses alike. One of the keys to keeping up is investing in digital transformation, which inevitably means being visible everywhere and really owning the online space.
Paid ads can be an efficient tool in achieving those digital goals, no matter the size of your business. In this blog, we want to shed light on why brands are increasingly choosing to embark upon a paid media journey.
What is paid media?
Paid media represents an online advertising technique by which businesses promote their products and services through sponsored content, normally on a PPC (pay-per-click) basis. Paid ads are usually divided into display ads, which come in various formats (banners, videos, rich media, interstitials, etc.), and text ads.
There are a number of channels on which paid ads can appear. Businesses can choose to advertise on social media, applications, search engines (so-called paid search ads), or anywhere in the Google Display Network, which has over 2 million websites, including mobile apps and video content, and reaches over 90% of Internet users.
What’s in it for your business?
Paid media is very different from earned and owned media, both of which drive results based purely on your business’s efforts. Earned media refers to recognition and (organic) traffic that great content, a quality SEO strategy and customer recommendations bring you. Owned media refers to your own sources and resources, such as the content on your blog, website and social media accounts.
On the other hand, paid media is just that – exposure that you pay for. It’s not something you earn, so businesses often refuse to even consider it, thinking that it will be frowned upon by customers and damage their reputation rather than positively influence it.
However, sponsored content is no longer a last resort, but a valuable marketing tool for staying ahead in a fiercely competitive market. In order to succeed, businesses need a comprehensive digital strategy – and that means no technique gets left behind.
There are numerous reasons to integrate PPC marketing into your (digital) marketing efforts. Here are the top 6 we chose to emphasise in this blog.
1. Your budget can cover it
PPC marketing can be dubbed a low-budget marketing strategy, and it’s generally an effective one at that. Simply put, you invest (relatively) little, but can gain a lot. For instance, the average ROI on Google Ads is a whopping 200%.
How does this work? Well, firstly, you are only required to pay per click, and the cost per click is usually pretty affordable. In fact, it can be as little as 0.01$!
Secondly, PPC ads are considered to be one of the top 3 generators of on-page conversions – and it’s needless to say how significant that is for any business. After all, conversions mean that specific marketing goals you’ve set are being fulfilled.
Therefore, PPC ads ultimately prove to be an excellent solution for businesses of any size and budget, and an especially efficient strategy if you’re looking for a good bang for your buck.
It’s important to keep in mind, however, that the CPC and ultimate profit vary based on the type of business you’re running, as not every industry benefits from paid media in the same way. So, before jumping into a paid media project, you should carefully consider it and discuss with your digital agency the best course of action for your business nature and goals.
2. You gain exposure across platforms
One big advantage of paid media is that it allows you to expose your brand to users across almost any channel. Considering the ever-increasing number of devices and platforms, this is vital for brands that don’t want to fall into the background.
Paid social ads are especially fruitful in this regard, as almost half of the world’s population uses social media. Moreover, more than half of social media users use these platforms to browse products.
Exposure on social media and other platforms that support PPC allows you to reach your target audience and beyond. That way, your overall visibility is enhanced, which brings more user engagement, new followers, conversions and qualified leads. Plus, it contributes to the process of making a name for your brand, a goal every business strives for.
3. You increase online and foot traffic
65% people click on ads when making purchases, and 75% claim that paid ads actually make it easier to find what they’re looking for. So, no matter which channel you use, clearly paid media is bound to bring more traffic to your website.
Naturally, quantity does not automatically mean quality. However, since PPC platforms allow you to target internet users based on a number of carefully analysed factors, the chances of that traffic being valuable to your business are rather high.
Aside from driving online traffic, solid PPC ads directed at the right people may prompt potential customers to pay your physical store a visit (of course, with proper measures in place during COVID). Many people still prefer to see your products or discuss services in person before making a final decision, which warrants an increase in foot traffic.
In-store traffic is a great asset not just because of the purchases, but also because it opens up the opportunity to make a lasting impression on your customers in person. That way, you give them a good customer experience and positively influence customer retention rates and loyalty.
4. You can easily collect data & analyse it
Ad performance is measurable in all paid media channels. In other words, you can track important stats like clicks, impressions, conversion rates and ROI, and you’re in full control of your ad campaign.
Namely, you choose your target keywords and audience, you determine your budget, and you have the option of pausing the campaign whenever you want. You can also run tests and make modifications quite easily. This means that you can continuously improve the ads, as well as keep an eye on your spending to make sure you never go overboard.
In sum, you are in charge of almost everything about your paid media project, which is an incredibly powerful asset to have as part of your marketing strategy.
Furthermore, all the insight you gain during your paid ad campaign can be used for your future marketing efforts, especially remarketing, your SEO strategy, or content marketing. This pertains not only to ad data, but also all the info you collect about your potential customers, which brings us to the next point.
5. You can reach your target audience directly
Most paid media channels offer granular targeting options. Therefore, you can ensure that your brand will be showcased exactly to those people that fit your customer persona.
Essentially, you can craft ads based specifically on factors such as:
- job titles
- and more.
Highly specific targeting means that you are able to promote your brand to those most likely to be interested in it and purchase from you. Not only can you reach completely new people, thereby expanding your audience, but also your previous buyers, improving customer retention and loyalty.
6. You build a stronger online presence & brand awareness
Considering the tremendous importance of digital transformation nowadays, a powerful online presence really is a must-have. Through enhancing the visibility of your business across platforms, paid media efforts make it possible to achieve that.
Building and maintaining a digital presence typically goes hand in hand with an increase in brand awareness as well. In fact, it’s been proven that paid search ads on Google can improve brand awareness by up to 80%.
Basically, a good paid media campaign allows you to gain a larger base of followers, who will be engaging with your content and potentially sharing it to others. In that way, they are virtually promoting and recommending you to their connections.
Also, you have the opportunity to position your brand as reliable, recognisable and authoritative, which means that you’ll be among the first businesses potential customers think of when they want to make a purchase pertinent to your industry.
Considering how tough it is to gain a competitive edge nowadays, it’s crucial for businesses to have an effective and sustainable marketing strategy in place. Paid media has become an invaluable part of that for many brands. Investing in paid ads, businesses can expect to see both short- and long-term effects, all within their budget and in little time. It’s definitely a technique worth looking into if you want to boost your business visibility and achieve a powerful market position.
If you have any questions or you’re looking to start a PPC campaign, feel free to reach out to us. Digital agency GRM Digital provide paid media services that’ll help you highlight your brand and increase quality traffic to your business.