From social media to paid keywords, digital advertising is how most companies expand their brand and attract new customers today. Unfortunately, it’s not as easy as it used to be, even with better technology and more effective targeting. The sheer number of ads that consumers see every day makes it difficult for your brand to stick out.
To make the most of your digital advertising budget, you’ll need to carefully plan out a strategy tailored to your potential customers. Here’s how:
Make Some Decisions
Will you use an agency or fly solo? One of the most difficult decisions to make is how much control and involvement you want to have. There are numerous agencies that handle digital advertising for other companies, but they can be expensive. It also makes it more difficult to make changes in real-time. But, you get the added bonus of not having to set up and monitor everything in-house. That can save your company a lot of time.
What is your budget? Next, you’ll want to consider how much you want to spend each day, month, week, and year. Digital advertising can be very expensive, depending on the types of ads and where you’re placing them. Planning out a detailed budget in advance can help you better determine your return on investment (ROI) for each campaign.
What are your goals? Not all advertising is used for the same goal. Some companies use social media to spread brand awareness and widen their sales funnel. Other companies sell products directly through social media platforms. Your advertising strategy will change depending on the end result you’re looking to achieve. Consider each form of digital advertising from paid keywords to display ads and retargeting as well as each type of publisher. Then prioritize your goals based on what is most important to your company.
Who is your audience? Where are they? The last question to ask yourself is about your audience. Knowing who you are targeting will make it far easier to reach them. Analyze any data you have on your current customers to figure out the best places to engage. For younger customers, you may want to focus more attention on Instagram and Snapchat. For older customers, you might concentrate advertising on established publishing sites like newspapers.
Develop Your Plan
Determine Your Ad Spend. Now that you have a budget and an idea of where to find your customers, it’s time to decide how much to spend on each type of ad. If you’re using an agency, they can help you assign a value for each campaign. Companies going it alone will need to research similar campaigns and examine their overall budget and goals to figure out where to allocate more money.
Define Your Campaigns. Think about what assets and resources you’ll need for each of the campaigns included in your budget. Then, create a timeline for each campaign including the length, individual goals, and auditing plans.
Get Your Content.
Seek out your current assets, resources, and content. Whether you’re using an agency or not, you’ll need to gather any assets and resources you already have that can be included in your planned campaigns. You may need graphics, content, call-to-actions, photos, or other content. Make a list of everything you already have and everything you still need.
Develop landing pages, tracking links, and any new content. To understand what’s working, you’ll need landing pages and tracking links. Determine what is still needed and how many resources will be required to get your campaigns ready.
Measure Your Accomplishments
Decide on metrics for success. This part can be more difficult depending on your goals. While measuring conversions is relatively easy, estimating rising brand awareness is not. Campaign attribution can also be confusing if your ads are engaging your customers in multiple ways. Therefore, deciding on specific metrics to determine the success of each campaign will be extremely important.
Create tests and trials. Digital advertising changes often - and those changes happen fast. Testing different campaigns, content, images, and techniques will lead to better long-term decisions. However, even with a solid plan, being ready to adapt to changes in the industry will increase your success.
Audit everything. Ad fraud is a big concern for digital advertising. One of the reasons ad fraud continues to be so profitable is because many companies fail to audit the information given to them by ad networks and agencies. Install your own analytics tools and check the reports for inconsistencies. Watch for traffic spikes without conversions, too much invalid traffic, and a rise in chargebacks related to a specific campaign. Keeping an eye out for these issues protects your ad budget and will make your digital advertising strategy more successful.
Once your plan is complete, it’s time to put it in motion. Remember, you’ll want to revisit your strategy often to make changes as needed.