Paid Media Management can take your small business to the next level. Check out this post to learn about the 7 reasons to boost paid media spend in 2021. Read now to be in the know!
In 2021, it is essential for businesses to develop an online marketing strategy that does not ignore paid advertising. Social media advertising, display advertising, search engine marketing, and video advertising have opened doors for businesses to expand their online reach, generate more clicks, boost traffic and conversions. We have shortlisted the top 7 reasons to boost paid media spend in 2021. Let’s discuss them, shall we?
Discover New Audiences
Use paid media to find new audiences and grow your fanbase. We believe it’s an excellent opportunity to dominate a larger market share than your competitors. This is crucial because many potential customers might be attracted to your competitors as they haven’t discovered you as an alternative. Paid media coupled with extensive competitor analysis can quickly establish your brand in the market.
Boost Brand Awareness
Despite discovering new audiences for your brand on social media, your content might be reaching only a tiny percentage of the followers. Why?
Social media algorithms are designed to give every brand some space on people’s feeds. This can result in a significant waste of resources and marketing budget as content creation doesn’t come cheap. Just a small investment can help you generate high impressions and allow you to direct the social media traffic to your official website.
Allow Efficient Targeting
Paid advertising can also help you learn more about your audience. Through paid media, you can know your audience’s interests, demographics, preferences, and other characteristics. Once you have this information, you can narrow down the target audience and achieve efficient targeting. This results in the efficient utilization of your marketing budget as well!
Maximize Your Marketing Budget
We know that marketing budgets are taking huge hits in 2021 due to the pandemic. But, paid advertising has not lost its bite.
Paid advertising still helps to maximize the marketing budget due to its ability to produce effective and affordable results. The average CPM for the big three social media channels currently stands at $6.00. The same for traditional advertising is around $30. However, budget spend will heavily depend on your campaign objective.
Involves Zero Guesswork
Paid media management is data-driven. In other words, you can eliminate guesswork while designing and executing a digital marketing campaign.
The insights produced through paid advertising can be analyzed to optimize and create better campaigns in the future. Couple that with A/B testing, and you will establish a robust paid advertising system for your business.
At B Squared Media, we check on and make optimizations to your campaigns daily (if needed). We regularly look at your stats to see which ads are top-performing and use that information to create more high-performing ads and campaigns!
Generate Quick Results
Are you looking to generate ‘buzz’ for that upcoming seasonal sale? Use paid advertising to quickly reach thousands of people overnight and impact their purchasing decisions.
Unlike organic marketing, paid advertising produces quick results and can help you with highly qualified lead generation. Organic marketing has its advantages, but it will never match the speed at which paid media functions.
Track ROI
Paid advertising gives the ability to directly track return on investment (ROI) from your marketing campaigns. Facebook uses a built-in Ads Manager that quickly gives you key information, such as cost per website purchase, cost per lead, and return on ad spend (ROAS). This is very important for advertisers, as it makes it easy to track how your ad spend is performing and to scale the top-performing campaigns. At B Squared, we are constantly tracking ad performance and ensuring that your costs per result are as low as possible.
Keep Reading!
Indeed, these benefits of paid media seem lucrative. However, the top results will only be achieved when you approach paid media management professionally. We know that many business owners don’t have the luxury to learn how to run successful paid media campaigns.
If you are looking for a professional online marketing company to manage your paid campaigns, always know that we are just a call (or e-mail) away. Loved reading 7 Reasons to Boost Paid Media Spend in 2021? Don’t forget to check out our other informative posts on the blog!
Here are a few of our must-reads:
- Step Up Your Summer Marketing Strategy
- Marketing Shifts Resulting From Covid-19
- Top 3 Content Creation Hacks for Digital Ads
How do you plan on maximizing your ad spend in 2021? Let us know in the comment section below!
Kaitlin Wichmann
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