Paid marketing in 2021 has become the most impactful method of marketing that provides high ROI within a specific period. Delve into our latest article to know more about paid marketing and its benefits.
One of the best, quickest, and prevalent forms of marketing is paid marketing. A paid marketing tactic isan advantageous wayto strengthen your brand identity and buildstrong connections with your customers. As a result, companies are constantly investing inpaid marketing
and experiencing ideal outcomes.
87% of retail shoppers begin their searches on digital channels. According to the Hanapin marketing survey, 79% of marketers say PPC is hugely beneficial for their business. The data clearly shows how impactful paid marketing is.
Paid marketing is a form of marketing wherethe company pays to promote its product or services. Brands pay for content promotion
to reach potential customers based on their interests and convert them into long-term customers. In addition, paid marketing helps encourage customer engagement, boost brand recognition and makethe brand capable of measuring and optimizing the campaign.
Organic Marketing vs. Paid Marketing
Both marketing strategies are practical, and result-driven to gain brand recognition, leads, and website traffic. But, the differences between both of them specify their way of working and help marketers know when to utilize one over the other.
Organic marketing is entirely based on your creativity and time. In organic marketing, once you understand buyer persona, you need to develop relevant content, including images, gifs, videos, etc., organic marketing is frequently referred to inbound marketing. It establishes companies as thought leaders in the space by educating audiences and building long-term connections with customers. In organic marketing, brands can share information at no cost; also, it looks more authentic to customers as it is not a sales pitch.
Paid marketing means you are paying for intended outcomes. It assists brands in reaching audiences more directly than organic marketing. Paid marketing can be executed in billboards, posters, or other print advertisements. Today, businesses are investing in paid marketing to enhance digital marketing
efforts. This method involves distributing ads and sponsored posts on social media
and search platforms. The focal point of the paid marketing is achieving positive ROI at a faster rate than organic marketing, converting visitors to customers, and reaching sales goals in the designated time frame.
Why is Paid Marketing Important for Businesses?
Paid marketing is one of the best options to run an efficient and customize campaign. It attracts the attention of the viewers to experience your products or services. Investing inpaid marketing will certainly utilize your content to escalate your brand by attaining specific leads. It allows you to receive high-quality traffic to your website by ranking on the first page of Google results without focusing on search engine optimizations.Ads are pretty affordable and measurable in paid marketing which helps you to reach a large audience. You can keep an eye on the moneyyou have spent on different ad platforms and set a budget for a specific campaign to avoid overspend. There are plenty of platforms to run a campaign. You can effortlessly find out which platform your target audience is using and modify your messages andcampaign accordingly.
US social media ad spends reached $43 billion in 2020. This was a 20% increase from 2019.
63% of people say they’ll willingly click on Google ads.
Google estimates that PPC helps to increase brand awareness by 80%.
Google will remain the most prominent digital ad seller globally in 2019, accounting for 31.1% of worldwide ad spending, or $103.73 billion.
Brand awareness can be increased by up to 80% through Google paid ads.
Paid advertising returns $2 for every $1 spent – a 200% ROI rate.
53% of paid clicks are made on mobile devices.
Google drives 95% of all US paid search ad clicks on mobile.
Mobile will account for 72% of US digital ad spend by 2019.
In 2020, US Facebook ad spentexceeded $31 billion.This represents a 5% increase from 2019.
The average cost-per-click (CPC) in the marketing industry is $3.33, and the most expensive marketing industry keyword CPC is $165.
Types of Paid Marketing
There is a wide variety of paid marketing you could use to heighten your business regardinglead generation, growing sales, building a solid connection with customers, etc. Here are some common paid marketing types.
Paid Search Marketing
Paid search marketing is a cost-effective and accessible method of web marketing aimed to connect your ads with searchers actively pursuing what you deliver. With the right platforms and in-depth research, you can convert your potential customer into a long-term customer.
Paid Social Media Marketing
The most popular platform is social media. Almost every social media platform offers paid options where you can pay to publish your ads for your target audience based on their interests, behavior, demographics, etc.
Influencer marketing is a kind of marketing where businesses
focus on influential people to convey their brand message to reach maximum audience and boostsales. Choosing the right influencer for your brand can help you in receiving positive ROI. For example,80% of consumers have purchased something via an influencer recommendation.
Native marketing is a form of paid media where the ad experience follows the natural form and function of the user experience in which it is placed. Owing to its soft approach, native marketing is more influential in capturingthe audience’s attention. Viewers are always ready to share, like, and comment only when they find the content informative, engaging, and appropriate.
How to Launch a Paid Marketing Campaign?
There are some procedures to make any advertising successful. Those procedures are essential to attract the customer and experience profitability. First, you need to strategize the campaign and measure it. Let’s take a look at the vital steps of launching a paid advertising campaign.
Set SMART Goal
A smart goal should be specific, measurable, achievable, realistic, and on time. Before launching a paid campaign, setting a goal is the most essential step. First, it’s important to understand the purpose of the campaign. Is it about increasing followers? Getting more likes, comments? Or is it for brand awareness? Once you have identified your goal, it’s vital to allocate the budget for your campaign.
Define Your Audience
You need to have detailed information about your target audience. Keeping thorough research about buyer personas is the second most crucial step to make your campaign successful. It includes hobbies, requirements, gender, age, etc.
Identify Platforms for Promotions
Once you have your objective and detailed information about your target audience, you need to discover appropriate platformsfor your campaign. You must know which platform can give you desired outcomes. However, it differs from business to business.
Plethoras of examples are there around us about paid marketing. Paid social media marketing
, paid search marketing, influencer marketing, native marketing, banner ads, and so on. It has become the most prominent form of advertisement that businesses are executing. More than 63% of marketers are ready to increase their paid marketing budget for the following year, owing to its quickest and optimistic results.
Frequently Asked Questions
What's the best-paid marketing channel for B2B?
Paid search marketing is the best-paid marketing channel for b2b. It helps in growing sales and reaching the maximum audience.
Does paid marketing work?
Yes, it works incredibly to build brand awareness, encourage customer engagement, and to reach a target specific audience within a time frame.
What are the top paid marketing channels?
Paid social media marketing, paid search marketing, influencer marketing are the top marketing channels that various businesses utilize.