Article | July 13, 2021
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.
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Article | October 16, 2020
Since Hubspot coined the term “inbound marketing,” every kind of business has been trying to get the coveted inbound lead. And why not? Inbound leads usually buy things more quickly, complain less about price, and renew more often.
As a freelancer, inbound leads are especially valuable. You don’t have a sales team and scaled up marketing efforts - it’s just you and your time. I know this firsthand, because I’ve had a nearly 100% inbound freelance business since day one. My business has been profitable since I started it and increased in revenue each year, all without needing to send cold pitches. In this blog post, I’m detailing the four factors that helped me build my inbound funnel, each one corresponding to a timeless law of freelancing from my book, The 50 Laws of Freelancing.
Step 1: Have a good enough one-liner
I’m a freelance writer for startups and venture capitalists. If you asked me what else I do, I’d tell you that I edit, do content strategy, occasionally work with big corporations and governments, and more. But my “one-liner” when I introduce myself is simply that I am a freelance writer for startups and venture capitalists.
This is the essence of the “good enough” one-liner.
When you introduce yourself, you want to make sure what you say meets two criteria:
1. It’s easy to understand.
2. It’s easy to repeat.
If you want to build an inbound funnel, criterion number two is the most important. If I started all of my introductions with everything I do, people would get confused and understand less. But more importantly, they would repeat it less - or repeat it incorrectly.
The point of a “good enough” one-liner is so that other people talk about you the way you want to be talked about. When you focus on making it easy to understand and easy to repeat, you give people the language you want them to use. This alone has generated lots of clients for me, who reach out and say they heard I did freelance writing, and wonder if I could help them.
Step 2: Try everything and stick with what you like
Freelancers often work remotely, and unfortunately that comes with many pitfalls, particularly around freelancer mental health. Obviously, selling more is a critical element of mental health - making money can not only address anxiety about money but also pay for resources and help if necessary.
The way that I tackle both the pitfalls of remote freelance work and selling more is to try everything but stick with what you like. You try everything because you never know what might work or what you might like. When you only stick with what you like, you’re more likely to engage on a genuine level and more likely to enjoy yourself. Win-win.
In my case, I’ve tried every social media platform I can find, gone to hundreds of events and conferences, and even did a cultural exchange vacation to France to help a family restore their old chateau. If the platforms or experiences didn’t give me clients directly, they provided stories that rounded me out as a human and freelancer, resulting in more sales.
Step 3: Ask for referrals the right way
Asking someone if they will refer business to you is asking for a favor. Even if you pay them a commission, you’re still asking for them to use mental energy to remember your sales pitch then leverage their social capital to send clients your way.
Instead, make them the hero.
Here’s how it works:
Step 1: Instead of asking for referrals, remind them of your easy to repeat one-liner and tell them that if they know anyone facing the challenges you solve, you’d be happy to help.
Step 2: When that person interacts with someone facing a challenge, they can bring you up as a solution to the problem.
Step 3: Introductions you get from that person will be way higher quality because now you’re presented as the solution to a problem, and the person who referred you is the hero who made the introduction. The third person gets their problem solved, you get an inbound client, and your friend gets more social capital for being a problem-solver.
Step 4: Build partnerships
If you are trying to increase your client base without direct sales, then partnerships are a huge way to go. In making them, though, you have to be clear on the value you provide both to the end user (your potential client) and to the partner. In short, you have to make your partner the hero so they open up their network to you.
Here’s an example of what I did: I was working with a venture capitalist on their content, then we talked about a partnership. We agreed on a few pieces of content that I would offer at a discount to any portfolio company that the VC had. In turn, the VC would market me as the solution to any portfolio company needing content.
It was a triple win:
Startups have limited time and resources, but need good content. The partnership meant discounted rates and a high quality writer.
VCs want to solve problems for their portfolio companies. The partnership meant they got an “exclusive” deal for their startups that no one else could get them.
I didn’t want to chase clients. The partnership meant a discounted rate, but I still profited because I didn’t have to invest any time selling those clients.
Remember: freelancing is a business
Too many people assume freelancing is this in-between zone. You’re not an employee, but you’re not a corporation either. The reality is that freelancing is firmly in business territory. That means you have additional administration to work through, but you also have the ability to leverage business frameworks to make you more successful - particularly around building inbound funnels.
Article | August 17, 2020
For many in the B2B marketing world, original research provides an effective way to build thought leadership and drive content for owned and earned media. Unfortunately, many research reports from B2B companies are dry, uninspired and focus solely on pontifications from the brand point of view. Such unremarkable content isn’t helping customers, especially if they never see it due to information overload or they don’t trust it.
Article | March 18, 2020
Almost everybody on social media uses hashtags, likely including your brand. But even though hashtags are ubiquitous, that doesn't mean they are always used most optimally when it comes to garnering the most attention. Your goals: make the most out of your wording; cover the right consumer communities; don't over- or undertag; and check your progress consistently to see how your efforts are playing. Here are the freshest, most creative, and most effective ways you should use hashtags to boost your marketing power right now. New data from Sprout Social suggests turning to your customers to see how they are specifically using your hashtags in their posts and reviews about your brand and following suit. While it's good not to overuse hashtags in a single specific post (more in that a bit later), you definitely want to tap into every existing hashtag you see that is garnering attention and traffic for your brand. You can do this by using these hashtags in a spread-out fashion in a series of posts over a number of hashtags.