Online Advertising is a term which refers to the way people make their target audience aware of their offerings via the world’s most used advertising medium – The Internet.
Advertising Before & Online Advertising Today
From the beginning of time, man has employed various methods to make people aware of what there was to offer. Something as simple as paying a person to tell others about your business was a form of advertising, similarly to paying someone to place posters of what you had to offer. Over time radios, televisions and newspapers came into being and the way in which people began to acquire their information began to change. In the 21st century the main medium is now the internet mainly because of its popularity, offering diversity, interactivity and remote accessibility. Businesses are now more pre-occupied in leveraging this medium to increase their sales and yearly revenues.
Online advertising is achieved by using various platforms which are currently available on the internet. It would be good to note that similarly to traditional forms of advertising (television, radio, newspaper etc.) the business must ensure they are choosing the correct form of online advertising if they are to achieve optimum results. Using an online advertising platform for example say “Google” is as easy as creating an account on the Google website and agreeing to pay for their services via a credit card. The business then uploads their advertisement, selects the audience they wish to receive the information and the platform automatically disseminates the information to the business’s selected audience.
What Makes Online Advertising Different
In this form of advertising more importantly than “what” it is would be “how” it is done. Each platform usually presents a high learning curve, and the business must know exactly how to tweak their campaigns to attain the desired results. Should a novice attempt to create an online advertising campaign via the available platform, there’s a strong possibility their costs will exponentially exceed that of if it was done by a professional.
Online advertising is different mainly because the business is able to monitor their results in real time. For example, let’s say your business created three (3) different ads designed to sell your computers. You realise putting all three of these ads in the first few pages of the newspaper would be costly, so via a process of elimination your team chooses the one they believe will achieve the best results. You pay the newspaper for the advertisement and you wait…at the end of a few days you begin to realise the phones aren’t ringing, and no new business was generated as a result of the newspaper ad. You don’t even know the reason why the advertisement wasn’t effective, but what you do know is that you have paid in advance for every day it was in the newspaper whether effective or not!
The above scenario is a problem which has been with businesses since the whole concept of advertising began. Business have been subject to paying advertising companies a substantial amount of money for advertising with little or no results to show in return. With Online Advertising you can change your advertisement in just a few minutes which allows you greater control over what your audience sees in real-time.
If the scenario with the newspaper was an Online Advertising platform you could easily monitor how many people saw your ad, how many clicked on it, the level of engagement and then easily determine if to keep it or replace the advertisement with one of the other options. This way you not only save money, but you also gain important feedback on how your audience perceives your business.
The Most Important Thing a Business Should Know About Advertising
In the defence of other traditional means of advertising let me just say that they too can also be very effective. I am merely giving a comparison of how Online Advertising gives you more control over your advertising dollars. If you are in a market where the majority of the people don’t use the internet (maybe a market for senior citizens or those who have been in retirement for a number of years) then the traditional means of advertising may be for you.
Now that we have gotten that out of the way I’m going to let you in on the most important element every business should know about advertising, and that is their “cost per lead”. Basically it works like this:
Advertisement in newspaper: $100.00
Amount of buyers (leads) as a result of the Advertisement: 10
Cost per lead: $100 (cost of ad) /10 (amount of leads) = $10
It is the business’s job to make the lead as profitable as possible, and to pay “less” for “good” leads. Take a look at another scenario with the same business this time using Online Advertising:
Online Advertising on Google: $50.00
Amount of buyers (leads) as a result of the Online Advertising: 10
Cost per lead: $50 (cost of ad) / 10 (amount of leads) = $5
The above scenario shows how you can achieve the same results by spending less. There is a big difference (a 100% difference) between paying $5 per lead than $10 per lead. This alone can greatly affect your business by allowing you to do twice the amount of advertising while using your current budget.
Two Popular & Effective Online Platforms
We have all heard about these two (2) platforms, but yet the majority of businesses seem to take them for granted. No need to worry, because I have seen in the last few months more local businesses popping up on my laptop, tablet & mobile. What does this mean? It means the businesses that are using the online platforms are getting it at a very good price. In other words due to a lack of competition for the advertising spots, they can advertise to all internet users on the island at an extremely reduced rate. No worries…Take your time hopping on the bandwagon and wait for it to become more expensive. 😐
Tell me…which is more important to you:
a) The medium which you use to disseminate your advertisement?
b) The amount of people who see your advertisement?
I’m not sure about you, but the latter is looking pretty good to me especially when it is also the more affordable option.
Here are two great Online Advertising Platforms and I hope you leverage them to help attain your marketing goals. Not into all the technical stuff or inexperienced in online advertising? No problem. Contact us today and we will do all the work for you. We’ll also give you a free assessment of your business to devise which Online Advertising medium would be more suited to help you attain your goals.
That’s all for now, so take care and remember to Click Here to get instant help with your Online Advertising.
To your success