05 Dec TOP 5 WAYS DIGITAL ADVERTISING CAN BENEFIT YOUR BRAND
Brand owners have two choices when they are faced with the problem of making their brands known: Digital advertising or traditional advertising. Although traditional advertising is famous for targeting local audiences, it cannot match digital advertising. It remains no surprise that the marketplace has grown to be more digital as technology evolves.
The importance of using digital advertising is becoming more prevalent. Consumers are researching and purchasing products online. In fact, statistics from Forbes show that 80% of consumers conduct online researches. Tech Crunch revealed that 79% of people prefer to shop online.
Therefore, to reach these consumers effectively and engage them, you need to employ digital advertisement. Check out the top six reasons why you need to use digital advertising in making your brand known:
1. Cost Effectiveness
Traditional advertising stands as an expensive means of making your brand known. Averagely, companies like Nike or Coke don’t have problems using this method due to their popularity. For a 30-second commercial, local televisions charge between $200 and $1500. Print advertising costs between $500 and $20,000. With these methods, it becomes much more difficult to spread your brand’s awareness intentionally.
Digital advertising on the contrary is cost-effective. Small businesses, start-ups and not-too-large brands can afford digital advertising. On the average, Facebook’s cost per click is $0.27. considerably, Google charges between $1 and $2 for their CPC. Although Google ads is on the high compared to Facebook’s, it is significantly cheaper than traditional advertising.
2. Target Audiences
If you see a millennial with her eyes trained on a glowing phone screen, chances are she’s on social media. Ipos conducted a survey from Think With Google, 51% of teen spend three hours or more on social media. Since, social media has become an inseparable part of their lives, you can make your ads too through digital advertising.
Social media platforms can target ads to almost anyone. This it can do with information collected from users and third party data brokers such as Experian, Epsilon, and Axiom. People can be targeted depending on their demographics, behaviors, interests, connections, and lifestyles.
SEO allows you to reach those people who are actually searching for web contents and topics relating to your brand. Contrary to Pay-per-click and social media advertising that targets people who are most likely to have interests. Whether SEO or others, digital advertising surely helps you reach your target audience.
3. Data and Insights
When you place ads on the internet, whether on Google, Facebook, or Snapchat, you get real time insights and data. You have access to detailed information on who interacted with your ad (their habits, lifestyles, demographics, interests etc.). Also, you know how much you spend and how much stands as profit.
In traditional advertising, you have to wait for weeks for the results before you can proceed with your campaigns. Digital advertising gives you real time updates which you can use to improve your campaigns unlike in traditional advertising.
It is the most measurable form of marketing. Digital advertising analytics allows you to use your resources effectively and allocate your advertisement budget. This remains a success since you are no longer guessing whether your ad is working or not as you have real time data.
4. Ad Formats Are Constantly Improving and Competitive
Facebook updates its ad products to improve the buying process for consumers. For instance, shopping photo tags introduced by Facebook into Instagram allows users to shop from a brand without leaving the app. Also, collections is a video ad that adds web link to your advertised product. So, your advertising experience will definitely improve constantly.
Usually, it’s difficult for small businesses to compete with their bigger counterparts. Due to limited budgets and resources, they cannot make use of traditional advertising. Digital advertising on the hand levels the playing ground by ensuring smaller brands can compete online and gain exposure too.
5. Your Brand Can Go Viral
You can only go viral on internet. The ease of sharing can make memes, news, videos and even brands viral. A famous rags-to-riches, going viral story is the founder and CEO of Nasty Gal Sophia Amoruso’s. she started her small business on eBay after spreading awareness on MySpace and Facebook. In short, her campaigns led to partnerships with major footwear and fashion investors and brands. That small business now has a retail store in Los Angeles and many more online stores internationally. Although conceived in a small room in San Francisco, she made effective use of digital advertising.
As you can see, digital advertising has many benefits that will transform the way your business can engage and reach your target market. The best way to reach your customers during moments when they are most likely to be searching for brands like yours is through digital advertising.