Digital marketing has evolved into one of the most beneficial tools for businesses. Digital marketing technologies improve corporate performance while also assisting in developing brands. Paid advertising tools are constantly changing to meet the needs of reaching target customers on social interaction platforms. So, how can businesses use low-cost advertising to boost their bottom line?
The Primary Purpose Of Running Advertisements
First, businesses must understand why they need to run advertisements. As previously stated, the goal of running ads will typically fall into one of two categories: business performance and/or branding.
- Running performance-based ads will include promotional activities directly aimed at increasing revenue. These marketing activities will have a direct impact on the sales team.
- Brand advertising will include activities that increase brand awareness, brand identity, or brand sentiment on social media channels. These activities are often planned and are linked to the business’s branding strategy.
What exactly is low-cost advertising?
Running cheap ads is defined as running ads so that the cost per result from the ad is as low as possible.
There are various ways to measure an advertising campaign depending on its goal. When it comes to business performance advertising, the metrics to keep in mind are typically CPL (cost per lead), CPI (cost per installation), CPC (cost per customer), and CIR. (cost to income ratio).
Meanwhile, brand development ads will be measured by CPR (cost per reach), CPE (cost per engagement),… or other interaction metrics.
Tips to help business owners run low-cost advertisements
Investigate and select the most cost-effective advertising channel
Currently, all advertising providers allow for multi-platform and multi-channel campaigns. Every company should take the time to learn about the benefits of advertising providers and the advantages and disadvantages of the tools they provide. Businesses can then plan to select appropriate advertising channels. In running advertisements, companies will save a lot of money if they do their research ahead of time.
Advertising content optimization
Each type of advertising will allow you to create unique content. Here are some examples of what might appear on your ad:
- Text: Include all editable text, such as titles, headers, and paragraphs
- Icons: Include signs that demonstrate nuance and draw attention to your article.
- Image: Consists of purposefully designed static and animated images consistent with advertising objectives.
- Videos: These are short videos.
Optimizing advertising content requires businesses to see their target customers and what message they want to convey to them and build content accordingly. Companies must harmoniously combine the elements above to form a complete advertisement to achieve this.
Sort and optimize the target customer database
Customers’ consumption habits will differ depending on their demographic characteristics. As a result, businesses must tailor their advertisements to each distinct audience segment. Categorizing and continuously optimizing customer files will assist companies in recognizing differences in their purchasing behavior and developing a plan to build content accordingly. Here are some common demographic factors that advertising tools frequently allow businesses to optimize:
Avoid technical blunders
You might not realize it, but advertising tools always require time to optimize ads, even if you are the creator and directly run them.
Typically, your ads will be delivered to the most targeted customers within half a day of going live. So, you’ll have to spend time and money editing and rerunning another ad for every technical error.
Analyze and improve ad campaigns regularly
As previously stated, the ad running process is complicated by numerous factors. As a result, businesses must constantly monitor and analyze their advertising campaigns’ effectiveness to maximize the cost per dollar spent.
Platforms That Allow For The Running Of Low-Cost Advertisements
There are currently many social platforms that allow paid advertisements to be placed. The most well-known are Facebook Ads, Google Ads, Zalo Ads, Coc Coc Ads, and the newcomer Tiktok Ads. As a result, each platform offers a unique set of advertising options.
Facebook Ads is an advertising service offered by the social networking platform Facebook, which has over 1.9 billion daily visitors. Facebook allows advertisers to reach users through a variety of channels, including the News Feed, Messenger, Videos, Stories, and cost per impression (CPM). Furthermore, Facebook owns the social network Instagram and allows advertising on both platforms.
Google Ads: This is an advertising service available to all users of the Google.com search page, which is an effective advertising channel because the users have some demand for the product/service. Unlike Facebook, Google Ads uses a cost-per-click (CPC) billing model, which means businesses only pay when someone clicks on their ad. Furthermore, Google Ads allows display advertising on other Google social platforms such as YouTube or affiliated websites.
Zalo Ads: Like Google Ads, Zalo Ads is a cost-per-click (CPC). Currently, Zalo Ads is not an effective advertising tool compared to the two giants mentioned above. Still, in the future, Zalo Ads may be able to capitalize on the potential of some new channels because Zalo has the advantage of owning a phone number.
Tiktok Ads: As a rising star in the advertising industry, the Tiktok social network is rapidly expanding. Tiktok, launched in 2016, now has over 1 billion visitors per day and is still growing, making it a fertile ground for advertisers. Tiktok Ads currently charges for cost per 1000 impressions (CPM).
Ads are now almost an essential part of any business. With the numerous advantages that online advertising provides, every company should devise a strategy for making the best use of advertising. However, this is still a cost-effective method of increasing efficiency, so businesses must focus on the appropriate use of financial resources and continuous improvement to achieve advertising effectiveness. Remember that running cheap ads means the lowest cost per result from the ad, not the least amount of money.