In today’s highly competitive business landscape, advertising has become an indispensable tool for companies of all sizes. Whether you’re trying to boost brand awareness, drive traffic to your website, or increase sales, a well-executed advertising campaign can help you achieve your business objectives.
However, with so many options available, knowing where to invest your ad spend can be overwhelming to get the best return on investment (ROI).
Ad spend refers to the amount of money a business or organization spends on advertising in a given period. This can include various forms of advertising, such as online ads, print ads, billboards, and more. Ad spend must be carefully managed to ensure it is allocated effectively and efficiently.
The following sections will delve into the details of how to maximize your ad spend and achieve your business goals.
1. Personalize your ads
Ad personalization, formerly interest-based advertising, improves ad relevancy to a specific user through customer insights. Marketers take advantage of data points like geolocation, customers’ wants and needs, interests, behavior patterns, demographics, and buyer intent to assess what ads cater best to a particular user.
If you want to implement ad personalization, two steps that you can take are:
- Generate unique landing pages
In creating a great landing page, adding an element of personalization is crucial. Instead of generating a landing page that fits all approaches, creating a page relevant to the ad that meets a target audience’s wants and needs is better.
- Use geotargeting
This personalized advertising method enables you to target an audience in a specific area or those that visit your town or city. You can also deploy this to target users near your competitor’s location.
By sending targeted ads through this practice, it’s easier to attain audience engagement and sales. This differs from static advertisements that don’t allow you to manage who sees the ad or what ad variants are sent.
In the end, personalizing ads is a cost-effective way to advertise because it allows advertisers to deliver the message to a highly targeted audience, which increases the likelihood that the ad will be seen by someone interested in the product or service being advertised.
This means advertisers can achieve a higher return on investment (ROI) with personalized ads than with non-personalized ads.
2. Deliver mobile video advertisements
Online video outperforms other content types in terms of engagement. It provides a significant interactive user experience. Maintaining viewers’ attention for an extended period is also possible through this content. Pair this with the abundance of users watching video content on mobile, and it makes sense why many businesses try to send mobile video advertisements.
Mobile video ads are sent to a target audience’s mobile devices like smartphones or tablets. Mobile ads have various types (e.g., text-based ads, banner ads, minigames), yet, the most well-known are videos.
Likewise, mobile video ads also have various types, such as:
- Interactive video ads
These video ads encourage users to interact, enabling them to decide on their preferred in-ad adventure. You can do this while providing personalization as they continue the journey.
- Rewarded video ads
Advertisers extensively use these ads for mobile devices. These ads reward people who finish the video ad. It’s more known in the mobile video gaming world as it doesn’t disrupt gaming activity and has a notable engagement rate.
- Interstitial video ads
Interstitial video ad provides users with rich, attractive, and customizable pop-up videos that come as short video clips taking over the user’s screen. Advertisers usually use this video ad type in multiple mobile apps in-between menu transitions.
Ultimately, mobile video ads cost less than traditional or desktop advertising campaigns. Thus, you can effectively spend less on your ad spend without forgoing desired outcomes.
3. Conduct connected television advertising
Another way to maximize your ad spend is to conduct connected television (CTV) advertising. This type of advertising involves delivering video ads on a smart or connected TV through various streaming services whenever the viewer watches a movie, TV show, or other video content.
Today, CTV advertising is taking over traditional TV advertising. For one, it’s easier to use. Traditional TV ad campaigns require meeting broadcasters, agencies, and managers before the actual broadcast. However, CTV advertising must only be uploaded and personalized before being delivered to viewers.
Eventually, you can maximize your ad spend through this advertising technique as it’s more cost-efficient and flexible. CTV advertising has different price plans when reaching premium networks. Advertisers can also set multiple pricing strategies, such as cost per completed view (CPCV) and cost per metric (CPM).
4. Implement native advertising
4. Implement native advertisingNative advertising is the paid process of delivering ads that fit the feel, look, and purpose of the media format they’re shown in. They match natively and smoothly on the web page. There are various types of native ads, such as:
- In-feed units
These paid ads pop up along with other posts, articles, and editorial content. For instance, you may notice them as sponsored ads on your social media feeds or a popular site.
- Content recommendation engine widgets
Online readers usually notice widgets with a heading saying ‘You May Also Like’ or ‘Recommended for You’ at the last part of various articles. These widgets are called content recommendation engines. They enable businesses to take advantage of a site’s audience to increase traffic on their sites.
Posting native ads requires proper knowledge of the right steps to take. Examples of these steps are:
- Personalize your message based on your audience
- Employ visuals
- Create short native ads copy
- Create urgent call-to-actions that offer benefits
- Use humor in your native ads
- Promote the most effective native ads
- Measure results
- Test, optimize, repeat
- Retarget
Over time, native ads prevent ad fatigue. Thus, you can continuously engage your target audience. This increases the chance of having more leads and customers.
5. Conduct influencer marketing
Working with influencers to promote your business is one of the most effective and popular advertising strategies. Through such a step, you’ll build a connection with a trusted figure with enough followers and a niche community. They can have the experience and knowledge about your product or service that you want them to advertise.
There are various reasons why influencer marketing will become more popular in the coming years. Some of these reasons are:
- More influencer marketing agencies are popping up
- More people decide to become influencers
- Influencers today are more authentic, generating more trust from various audience
- There are more content types that influencers can leverage from
If you’re an online business that decided to work with influencers, you can consider the following steps:
- Identify your objectives (e.g., reach new target customers, improve brand recognition, increase product consideration)
- Post testimonials from influencers on your site
- Work with micro and nano influencers
- Offer discount whenever your influencer advertises your product or service
- Understand the rules
- Determine the people you’re trying to influence
- Start to list the top influencers you want to team up with
- Contact the influencer personally and privately
- Measure the outcomes
Ultimately, more brands will work with influencers as time goes by. Thus, you must not be afraid to spend more money following this trend.
6. Consider paid social advertising
Paid social advertising involves promoting your business by paying for a specific social media platform. These platforms have various placements and formats. They also offer different creatives, from videos and images to immersive experiences.
There are many benefits to paying platforms for social media advertising offers. For one, it enables you to target an audience effectively and increase sales, similar to organic social media. Moreover, it’s ideal for improving message frequency, sustaining ad campaigns, and speeding up time to market.
Some examples of paid social advertising are influencer-generated content, pay-per-click advertising, and display ads. You’ll identify if it’s a paid social media ad once you notice the ‘promoted’ or ‘sponsored’ tag close to the post. Likewise, there are various paid social ad types from different platforms that you can consider, such as:
- Images
- Carousel
- Stories
- Videos
- Slideshows
- Playables
- In-stream ads
- Reels
- Text ads
- Collection
Before deciding which paid social ad types to use, you must consider which platform is best for your business. You must choose the ones in which you can find most of your target audience.
In Summary
You need an effective ad campaign to maximize your ad budget. This is a surefire way to generate sales and take over the competition. This also helps in meeting your return on ad spend (ROAS) metric.
There are various ways to create effective ads. You can start to show ads based on your target audience’s wants and needs. Second, you can work with people with a significant following and niche community.
Likewise, you can also post ads that fit a particular media format. Lastly, you can use paid social media ads for this matter. Just ensure that when you do these strategies, your aim is to engage the target audience and hook them to buy from you.
Eventually, by applying the tips stated above, you’re more armed to use your ad budget effectively. This ensures you won’t waste your money on ineffective ad techniques.
