Does your business have an online presence? If not, it is time to build a paid media marketing strategy for 2022!
Paid media is important if your goals are to boost brand awareness, generate leads, or increase sales. After all, paid media marketing ensures that your audience knows you exist. It gets you in front of your audience on platforms like Facebook, Instagram, YouTube, Amazon, Google, LinkedIn, Twitter, Snapchat, and Pinterest through data-driven campaigns. In other words, you have complete control over your paid media campaigns.
Sound interesting? Let’s learn more about building a paid media marketing strategy in 2022.
What is Paid Media Marketing?
Paid media is a paid marketing strategy that involves paid search ads, shopping ads, display ads, social media ads, and more. Paid media ensures that your brand reaches the right audience at the right time and on the right channel. The strategy involves segmenting and placing the ads strategically to ensure your ideal audience interacts with them.
Indeed, it is a complex marketing strategy. But, it has a huge potential to generate exceptional results for your brand. With a well-built paid media strategy, you can expand brand reach, drive exposure, generate more engagement and get qualified leads.
Seven Steps to Building a Successful Paid Media Strategy
Let’s learn more about building a successful paid media strategy with the seven steps below.
1. Determine Your Paid Marketing Budget
Unlike organic marketing strategies, you will have to figure out the budget for your paid media campaigns. This might be one of the biggest hurdles, especially if it’s your first time building a paid media strategy. If you are worried about the budget, use HubSpot’s ad spend calculator.
2. Choose S.M.A.R.T. Marketing Goals
What is your campaign objective? What do you intend to achieve through your paid media strategy? It is important to clearly define the purpose of your campaign. Are you looking for more engagement (likes, comments, shares), brand awareness, or more leads? Or, maybe you are looking for all of the above objectives.
Well, your paid media strategy will work best if you find one overarching goal. Write down your objective and plan the entire campaign around it. We recommend using the S.M.A.R.T goal framework as it helps focus on Specific, Measurable, Attainable, Relevant, and Time-based goals. The framework creates a clear roadmap of the steps and resources required to launch a paid media campaign.
3. Define Your Target Audience
How well do you know your target audience? Is your existing buyer persona trustworthy? We suggest you conduct thorough target audience research as it will help you find and target the right people in your campaign.
Figure out the age, gender, location, interests, preferences, hobbies, and other aspects of the buyer persona. In other words, a clear idea of the target audience will even help you choose the right advertising platform for the paid media campaign.
4. Set Your Key Performance Indicators (KPIs)
Most paid media advertising channels have their set of unique performance metrics. But, you must also shortlist the KPIs that help move your paid campaign in the right direction. Here are a few popular key performance indicators you can use for your campaign:
- Impressions and Reach. The number of impressions on your ads shows how many times an ad was displayed to your target audience. Reach shows how many people saw your ad.
- Clicks. Clicks happen when a user finds your ad interesting. This KPI shows how many times the target audience clicked your ad.
- Click-Through Rate. Click-through rate (CTR) is the percentage calculated by dividing the number of clicks by the number of impressions for a particular period. It is an informative KPI that shows how relevant the ad is to your target audience.
- Conversions And Conversion Rate. Conversions show the number of people that took the desired action when they interacted with the ad unit. The conversion rate shows the percentage of people that converted after clicking on an ad.
- Customer Acquisition Cost. Customer acquisition cost is a critical paid media KPI that helps determine the overall ROI of the paid media campaign. It shows how much it costs to convert a customer.
5. Determine The Best Channels to Campaign
There are several paid media marketing channels you can choose for your campaign. However, you will want to select channels where your target audience exists. You can choose from Google ads, Microsoft ads, Facebook ads, Instagram, LinkedIn, TikTok, Pinterest, YouTube, Snapchat, ABM platforms, affiliate marketing, and more. We suggest you also go for Display and Remarketing ads as the extensive resources Google provides help target a precise audience.
6. Ad Creation And Execution
‘Content is king’ is probably the most overused statement in the history of online marketing. Regardless, it is the one that makes the most sense. Advertisements that don’t grab users’ attention or imagination will not make noise. We suggest you hire expert copywriters and graphic designers to create ads that are bold, catchy, and, most importantly, converting.
Focus on creating scroll-stopping ads that engage, entertain, and educate – all at the same time. You are all set to launch the campaign!
7. Track, Analyze, And Amend The Strategy
But, the job isn’t finished yet. A successful paid media strategy is one that keeps evolving with time. You will have to consistently manage and optimize the ad campaigns to ensure you generate a positive return on advertising spend (ROAS). You can use a variety of tools to get in the nitty-gritty of the data collected through the campaigns. Use the tool to generate in-depth reports to adjust the existing campaigns and boost campaigns’ ROI.
Now that you know the basics of building a paid media strategy, it is time you look for an established paid media marketing professional or firm that can get you the best bang for your buck. Of course, you can run a paid media campaign yourself. But, you will have to spend countless hours and dollars to come up with a functional paid media marketing strategy. Hiring marketing professionals will not only help you save a lot of money, but it will also guarantee the best results.
Have you started building your paid media strategy for 2022? Let us know in the comments below!
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