Paid advertising is a goldmine many small businesses are yet to explore and even the companies engaging in online advertising are not doing it the right way. Paid advertising helps to drive traffic to your website and increase sales, however, many have had their hands burnt and lost large amounts of money because they did not really understand what they were doing. To maximize the benefits of paid advertising, it is important to know the most popular platforms for online advertising and whether or not they are worth investing in.
Google Ads is the most obvious because customers tend to always ‘google’ whatever they want to buy first. In November 2016, Google was ranked first among the most visited multi-platform web properties in the United States with 246 million U.S. unique visitors and a market share of 63.4% among the leading U.S. search engine providers, according to Statista. Google has tracked 4 billion store visits from ad clicks and the click-through rate for mobile search ads on Google’s first place is 27.7 percent. Google gives you the option of two types of paid ads through Google Adwords, which are Display ads, and Text ads. Display ads will pop up while you are browsing on different websites and it is targeted through past searches.
Meanwhile, Text ads pop up at the top or the side of every Google search page. Companies pay for these ads so that people will take note of their business whenever they’re searching Google. The company will only pay, whenever someone clicks on the ad, this is also known as pay-per-click advertising (PPC). Google paid ads is a great marketing tool, but it does not work for everyone. The success of Google paid advertising relies on the type of your business and SEO value. The profitability of your banner ads depends on your target audience. For example – if you are promoting a real estate package or pension scheme, people who fall within the elderly age bracket will most likely click on it compared to the younger, more tech-savvy adults who already know, it’s an ad.
The success rate of Pay-Per-Click Ads varies and it depends on the specific keywords, you are trying to rank for. The competition is stiff and if you can’t invest a lot of money per click, you may get stuck on Google 5th page. Google Ads no doubt have a wider reach and influence, but it is imperative to still consider if Google Ad is indeed beneficial to your business. Because it is an expensive online advertising channel for small businesses, this option may not be feasible for acquiring new customers through paid ads.
But not to worry, if your pockets are not deep enough, Facebook and Instagram offer cheaper options for online advertising. Do your Facebook Ads fail for many small businesses?
Stay tuned for the concluding part of the post to find out how to change this.
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