Benefits of Digital Advertising & Marketing
The Future of Marketing
In 2017, digital ad spend surpassed TV for the first time, capturing 41% of the market. By 2021, this figure soared to over 72%. This rapid growth highlights a significant shift towards digital channels, a trend that shows no signs of slowing. If your business isn't already online, it's time to make the move. The internet offers access to 4.66 billion potential customers, and with the right strategies, you can tap into this vast market.
Why Digital Advertising?
Digital advertising serves various purposes, with campaigns typically aiming to:
- Spread Awareness
- Drive Traffic
- Increase Conversions
But beyond these goals, digital advertising offers additional benefits:
Establish Multiple Brand Touchpoints
It can take up to 13 interactions for a user to convert into a lead. Digital advertising allows you to create touchpoints across multiple channels, gradually familiarizing users with your brand. They might see an ad on Facebook, spot a display ad on another website, and then find a paid search ad when they look up related terms on Google. This repetition is crucial in a market filled with options.
Test Brand Messaging
Digital advertising lets you experiment with different brand messages. By running multiple campaigns with varied messaging, you can gather data to determine which strategies work best for your business.
Target the Right Audience
One of the biggest advantages of digital advertising is precise targeting. Unlike traditional ads that broadcast to a broad audience, digital ads can be tailored based on location, age, gender, job title, hobbies, and more. This ensures your message reaches users who are actually interested in your product or service.
Types of Digital Advertising
Display Advertising
Main Purpose: Generate early brand awareness and set up customers for deeper engagement later.
Cost per 1,000 Impressions: $2.80
Click-Through Rate: 0.46%
Conversion Rate: 0.59%
Display ads appear on third-party websites featuring videos, images, or text. Think of the banner ads you see on web pages. They are cost-effective for generating impressions and building early touchpoints with potential customers.
Native Advertising
Main Purpose: Blend ads with regular content on websites, creating high click-through and conversion rates.
Cost per 1,000 Impressions: $10-20
Click-Through Rate: 0.8%
Conversion Rate: 0.96%
Native ads integrate seamlessly with website content, including articles, infographics, and videos. They often generate higher engagement but can be controversial if users feel deceived. Despite this, their effectiveness keeps them popular among advertisers.
Paid Search Advertising
Main Purpose: Place ads in search engine results pages alongside organic results.
Cost per 1,000 Impressions: $35.09
Click-Through Rate: 3.17%
Conversion Rate: 3.48%
Paid search ads appear on search engine results pages. As a form of pay-per-click (PPC) advertising, they can be costly but highly effective if managed well. Keywords are crucial, and careful ROI monitoring is essential to ensure campaign success.
Re-marketing
Main Purpose: Reinforce brand messaging to visitors who have already shown interest.
Cost per 1,000 Impressions: $2.28
Click-Through Rate: 0.7%
Conversion Rate: 1.0%
Also known as retargeting, re-marketing involves showing ads to users who have previously visited your website. This technique boosts brand recall and recognition, as users are already somewhat familiar with your brand.
Social Media Advertising
Main Purpose: Create visual campaigns with concise messaging.
Cost per 1,000 Impressions: Usually $7-8, varies by platform.
Click-Through Rate: 1.3%
Conversion Rate: 2.4%
Social media ads are versatile, offering various design options. They include photo and video ads, carousel ads, and collection ads. Social media ads are especially effective for campaigns centered on visuals and quick, engaging content.
Ready to Get Started?
If this overview has piqued your interest but you lack the in-house expertise to execute digital advertising, MINDSCAPE is here to help. Click below to learn more about our digital advertising services.
