So, your business is beginning to experience a growth spurt, and you want to take advantage of that and ride the wave. But the thought of switching from organic advertising to paid advertising leaves you with a massive headache.
Considering the options for paid advertising – will you go for traditional channels such as television, print, and radio? Or will you opt-in for newer media such as digital billboards, Facebook, TikTok, or even digital TV?
It’s okay to feel torn between the tried-and-true and the innovative and new.
While there’s no right or wrong answer with paid advertising, let’s explore four paid advertising options that get the best out of your scarce marketing dollars.
1. Facebook Ads
Despite the negative publicity Facebook has received in recent times – data scandals, the boycott by some big advertisers –few channels can match the awareness-raising and price-performance ratio Facebook can give your business.
The algorithm can be quite ruthless, but it’s targeting abilities are second to none. The platform’s targeting function means you can tailor your ads to a specific audience – customers who need your product and are ready to buy.
Its broad base of users also guarantees enhanced awareness if that’s your marketing goal. Very few paid ad platforms can give you that potent mix of conversions and awareness simultaneously. On Facebook, your only limit is your budget.
2. Digital outdoor advertising
If you are looking to achieve brand awareness within a short period on a limited budget, out-of-home advertising is your best bet. With the right digital billboard, you can turn your business into an easily recognizable brand within your local area. It also acts as a catalyst for online discovery.
With the rise of digital-out-of-home (DOOH) signage in the last few years, outdoor advertising has become more engaging and adaptable to the times. If you are looking to get on a DOOH billboard, make sure your DOOH marketing supplier can give you real-time data to adjust on the fly.
3. Content marketing/guest posting
You probably already knew this, but your blog is a great paid ads channel if you approach it the right way. Everyone wants to read inspiring or educational content, including your prospects and current customers.
Invest in creating good content, and budget an amount depending on your appetite for distribution and promoting the content you created. Always use a clear call-to-action at the end of each piece.
Lastly, explore guest post partnerships with popular blogs your prospects frequent. Combining this tactic with a well-oiled content promotion strategy can do wonders for your brand awareness and conversions.
4. Podcast sponsorships
Around 7.1 million UK residents now tune into podcasts each week. That’s one in eight people and is an increase of 24% from last year – and more than double over the past five years.
These podcast listeners are loyal and tune in once a new episode releases. The beauty of podcasts is that pre-cording ensures the listener can listen to it at their convenience. Usually, new episodes start with information about the sponsor(s).
This paid channel is fantastic because you have your prospect’s full attention once they decide to listen to the new episode. Best of all, it isn’t as cluttered as most radio shows – most podcasts have not more than two-three sponsors.
Ready, set, go!
It’s now time to execute. A useful heuristic to keep in mind when switching from organic advertising to paid is – test the waters first.
Start small and optimize and scale your budget as you receive the data and results.