THE DEFINITION - MIC DROP.
Digital Advertising, Online Ads, or however you may call it, we do it and we do it well.
Basically we prefer the term of Performance Advertising, or performance-based advertising.
Unlike offline advertising (billboards, etc.) where no sufficient data, can be gathered, leading to unsafe insights it’s a form of advertising where the advertiser can receive measurable results, like clicks on ads, ad impressions, leads, and sales on the website, with the ability of great breakdowns such as demographics (age, gender, location), devices, and time. This helps you get data-informed, and better optimise your communication towards each step of your purchase funnel.
The two leading online advertising platforms are, of course, Google AdWords (with both GDN or Google Display Network, GSN or Google Search Network, some also call it SEM, or Search Engine Marketing) and Social Media ads with prime examples like Facebook Ads, or Instagram Ads, which are very popular with many advertisers globally. Each platform has its own advantages: while Google is the best place to advertise your product/service in the search results, reaching people that are actively looking for relative terms to your business. On the contrary, social media advertising is a great way to find new audiences proactively, with a great audience precision, allowing you to track people as close as possible to your buyer persona, or to those that part each step of your purchase funnel.
Marketers use brand-based ads to build a connection between a user and the advertised brand, product or service over time,
increasing recognition and top-of-mindness when it comes to relative terms, or problems.
The goal of these ads is to build up the brand image and importance among users, but there is no way to directly monitor how successful they are. Neither is there any direct tracking.
But performance-based campaigns require lots of A/B testing and tweaking. But they can offer a much better ROI to the advertiser.
ROI is great because it can quickly determine if the campaign is successful or not. Therefore, many advertisers choose this type of advertising.
OUR 3-STEP APPROACH
At this stage, the more data about its clients and products are provided by the company, the more detailed and precise will be the overall strategy. Each and every piece of information is carefully collected and analysed: The current state of business - its strong and weak points and overall performance, SWOT-analysis; Previous marketing efforts - which campaigns worked the best and what didn't work at all; Products and services provided by the company - pros and cons and how they respond to clients needs and problems, what can be done to improve them;
Customers - what are the target audiences and buyer personas, what they are looking for, where and when they are searching for it;
Online visibility - SEO delivery, traffic sources, and their performance, as well as the semantic core;
Market and competitor analysis.
Having this information will make it much convenient to build up realistic goals and precise strategies to reach them, so this step should be performed especially carefully. The more conclusions are drawn from this process, the easier it will be to proceed.
At this stage, the company should already have a realistic view of the current situation and compare it to the desired state of their business. From this comparison then the goals can be set.Goal setting is the starting point for campaign development - apart from the desirable achievements, they should also depend on available resources, such as budget, timing, and advertising tools. The goals themselves should be specific, measurable, and achievable. To track progress, set deadlines for reaching these goals, as well as checkpoints to make timely adjustments, if necessary.Based on the available information and resources, it is then possible to build a comprehensive strategy. The most effective case-specific advertising tools and channels should be selected at this stage. Afterward, marketers choose a unique approach for every channel based on their performance and target audiences. Marketers should determine how to allocate the budget between these methods and targets.To avoid mistakes and misunderstandings, it is also important to define clear responsibilities and set direct communication channels inside the company. As a result, the business should have clear goals, measurable KPIs, and a precise step-by-step strategy to reach them.
Once the goals and strategies are defined, it is time to act:Based on the chosen channels and available resources, marketers are launching campaigns in accordance with the strategy.
The strategy is closely monitored and the budget is analysed to view how much profit is generated from each point of the campaign.
During the campaign, chosen techniques are constantly adjusted, and the weak tools are replaced by new ones.
A nice practice is to track the interactions between brand and customers throughout the whole buyer's journey. This will help to make conclusions which channels and creatives work best. Every touchpoint from first impressions to an actual sale should be analysed and optimised to create an integral customer journey. Such an adjustment would help build up a solid brand image and promote the company's values.To further manage the campaign marketers closely monitor every channel's performance and promptly decide on adjustments to the budget based on these observations. This employs a basic principle behind performance based advertising - each spent dollar should bring a result.While performance-based advertising seems to be one of the most effective promotion techniques, it is important to note that this strategy should go along with other forms of marketing in order to open up your company's full potential. However, even if this form of advertising doesn't exactly fit all of your business needs, it is certainly beneficial to employ at least some of its basic principles. For instance, you can sign up at a demand-side platform and experiment with multiple ad channels to track their effectiveness in relation to the budget. This way your campaigns can become much more reasonable and, thus, profitable.