How Online Advertising Can Help Build Your Audience
Many businesses in various industries rely heavily on social media to build, maintain and strengthen their online communities. In social media campaigns, platforms such as Facebook and Twitter are utilized to engage a brand’s core audience, often with very positive results.
There is, however, a prevailing notion that social media represents the totality of one’s efforts in marketing one’s brand and business online. People with this misconception often do not realize that despite its tremendous capacity, social media marketing too has its limitations in terms of market reach.
It is important to realize that social media marketing is but a component of a successful digital marketing mix. To maximize the leverage offered by social media sites such as Facebook, Twitter, Flickr and YouTube, they must be integrated into other marketing systems that aim to establish a healthy online presence.
One of these systems is online advertising. In this article, we will take a closer look into banner ads, and how this method of advertising can help drive traffic and leads to your company or business website.
What is a Banner Ad?
Simply put, a banner ad is a special type of hypertext link that displays the link as a block that contains graphics and at times, animation. They are usually found at the top, side and bottom part of a web page or a blog post. When visitors click on these banner ads, they are redirected to the website of the advertiser where they can find learn more about the product or service offered and/or register for a promo or mailing list.
Advertising space for banner ads is a source of revenue for publishers – brands that attract a lot of visitors to their websites. On a monthly basis, publishers monetize their sites by putting up ad spaces on their site for sale to other businesses.
How much will I spend for Banner Ads?
In most cases, publishers price their banner ads on a cost-per-impression (or CPM) basis. In this type of online advertising, the advertiser pays a fixed fee every time the ad is displayed. To come up with a sample size big enough to compute the number of site visitors clicking on the ads, the rates are computed per 1,000 Milles or impressions.
CPM rates can go as low as $.50 to as high as $5.00+ per 1,000 Milles. The average cost, however, is about $1.50. So, for example, your ad is displayed on a website 10,000 times and the agreed upon CPM rate is $1.50, your expenses will amount to $15.00. This fee is fixed and does not depend on whether the site’s visitors actually clicked on your ad or not. Take note that ads with very good click-through-rates and ads that are mostly ignored will cost you the same amount of money.
How can Banner Ads help promote my business?
Before, distributing banner ads was a task left up to individual websites. In today’s digital marketing arena, however, there are networks such as BuySellAds.com that enable businesses to find blogs and websites relevant to their niche. Moreover, these networks allow businesses to implement their own ad campaigns and utilize their own content such as artwork from one account. If you wish to know what kinds of websites currently have inventory, you can sign up for a free account. You can also try out campaign budgets that cost as low as $5 monthly to get started.
Why should I pay for advertising?
If you own a business, it is imperative that you utilize online advertising to build your brand and generate leads. Here are some benefits afforded by online advertising that other traditional mediums do not offer:
- Highly Targeted Ads – platforms such as Facebook ads and Google AdWords can generate highly targeted ads that are beneficial to your business. Google AdWords can relay your brand message to people who are specifically looking for the product or service that you offer. On the other hand, Facebook collates information from each user in your target demographic and utilizes it to come up with ads based on age, location, range, interests and other factors.
- High Volume – marketing is a numbers game, and online advertising allows you to reach a significantly large number of your target customers in the least amount of time. Most importantly, you can find out the exact number of people online who search for your service or product without having to spend any money.
- Effective Brand Message Delivery – compared to other mediums, online ad placements are the most actionable. When your target customer sees your ad, he or she can immediately click on it to learn about the product or service you are offering or even make the purchase immediately.
- Data from Online Advertising is Testable – one of the main reasons online advertising is very popular among businesses is that it yields testable data. Such data can be used to modify ads to increase the efficiency of a campaign. This data also makes monitoring results and making necessary adjustments easier and quicker.
In summation, online advertising bridges the gap between your business and your target audience in the shortest time possible. Finding and engaging your desired core audience can be done much easier and faster than in the past with the use of tools such as Google AdWords and Facebook. If you have the needed budget, putting up online ads for your business is a great way to build up your client base.