Are you struggling to get your brand recognized and would like to see a good return on investment? Paid media may be the solution you need! Paid media involves promoting your company online to the right audience at the right time. If you have a team that can help you with this, you may be able to do it in-house, but for small businesses with fewer staff and tighter deadlines, a social media agency can be a valuable partner to work with.
Here are five paid media strategies that could bring in higher returns:
1. Social Media Ads – Social media is getting more powerful year after year. With Facebook, Instagram, and TikTok offering more paid marketing tactics than ever before, it’s now easier to promote your company. Over 50% of millennials say that social media ads are now more relevant than ever before.
2. Influencer Marketing – Influencers can significantly impact their followers’ purchasing decisions. They create content efficiently and to a high standard, making them an excellent choice for promoting your products. Micro-influencers are often happy to receive gifts in exchange for promotional content, but with more established influencers, you’ll need to budget for their services. Before reaching out, ensure their values align with your brand and that their engagement rate is high to get the best return on investment.
3. PPC (Pay-Per-Click) – This is another online advertising strategy that can be used to drive traffic to your website. Pay-per-click means you pay the ad publisher when your ad is clicked. Investing a larger budget into PPC campaigns can be highly effective as PPC website visitors are 50% more likely to purchase from your site than organic visitors. This strategy can be complex, and hiring a social media agency experienced in building effective campaigns can positively influence the outcomes.
4. Ad Retargeting – This paid media strategy uses website cookies to track a user’s activity on your site, which can be used to show targeted ads. Retargeting ads allow you to promote your products to users who have previously visited your website but did not convert. Using retargeting is one of the most effective ways to get new conversions on your site. Showing this audience an ad that provides them value can be a great way to convince them to buy your product or service.
5. Display Ads – These include banners, animations, and square images, all of which resemble ads you would see in a magazine or newspaper, but they can also appear online. These ads can help promote your business to people browsing online, watching YouTube videos, or online shopping. Display ads can reach a targeted demographic, making them a great paid media route for building brand awareness.
Paid media may not always require spending thousands of pounds, but it can be a valuable approach for businesses looking to boost their brand and drive conversions. Researching the advertising strategies used by competitors in your industry and the behaviors of your followers can help you decide what paid media strategy would work best for your business. Focusing on the chosen strategy will bring in the best possible results.