Such competition in the market leads to a fragmented market share for businesses. The best way for a business to bring its products and services closer to its target customers is to build effective and optimized advertising strategies. So what is advertising strategy and how can businesses implement successful marketing strategies? Follow the article below from Optimal Agency!
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What is advertising strategy?
It is the overall targeted solutions that businesses implement to introduce product and service information to as many people as possible. This is a carefully planned long-term strategy to achieve broader marketing goals.
It involves efforts, ways to leverage user behavior, purchasing habits into messages to persuade customers. Advertising strategy is determined by 4 factors: objectives, scope of strategy, competitive advantage, and marketing strategy activities.
It outlines tasks, steps, and advertising channels that businesses need to use to reach target customers and persuade them to purchase products. At the same time, it creates brand awareness, attracts new customers, retains current customers, and increases sales.
Any advertising strategy needs to align with the brand and objectives of the business. A successful advertising strategy will align with brand identity, drive customer action, and help you achieve business goals.
An advertising strategy typically consists of two parts: information and persuasion. The information part helps customers understand the brand, products, and services of the business. The persuasion part relates to influencing purchasing decisions and making customers choose your business’s products over competitors.
Why is advertising strategy important?
Advertising strategy is crucial for any business because it supports effective advertising budget management. By outlining a clear strategy to ensure that every dollar is optimally used to get the maximum return on investment.
Moreover, adjusted advertising campaigns will help businesses achieve specific goals: attracting new potential customers, increasing brand awareness, enhancing customer loyalty.
An important role of advertising strategy is to attract and connect with target customers. An effective advertising strategy will help you identify potential customers and create targeted ads to attract and reach large amounts of customers.
When advertising is displayed to the right target audience at the right time. If you convey valuable advertising messages about promoting products and services, it will encourage customers to take desired actions.
Furthermore, advertising strategy also helps brands enhance brand awareness for customers. Through the use of engaging content, consistent messaging across different platforms.
If you have a comprehensive advertising strategy directly related to achieving sales growth goals. Then, it will outline a clear path to convert potential customers into loyal customers to maximize profits.
In summary, advertising strategy is the key to helping businesses expand sustainable business scales and maximize profit growth.
Besides, you can learn more about what is the impact of display advertising to equip yourself with a lot of useful knowledge that will help you in the future.
How to build an effective advertising strategy?
Once you understand what an advertising strategy is, let’s explore the steps to building an effective advertising strategy. To do that, you need to understand your business and target audience to create the best advertising strategy to maximize sales. You can follow these following steps to build your advertising strategy:
Identify the target market
A good advertising strategy should start with identifying the correct target market. At this stage, marketers need to conduct market research to understand the target audience better. Then, classify and categorize the target customers into groups based on criteria such as age, behavior, interests, gender, income,… Understanding the target audience will help you create an appropriate advertising strategy to achieve desired results.
Choose advertising objectives
For each advertising strategy, the objectives that businesses want to achieve may vary depending on the timing and market. Clearly defining objectives helps businesses understand the desired results to deploy effective advertising strategies, focusing maximum resources on that strategy. The results that businesses want to achieve include: increasing sales, promoting brand awareness, reminders, etc.
Set advertising budget
After determining the advertising objectives and target audience, you need to decide on the budget for the advertising campaign. This needs to be done before deciding on the advertising strategy. Because your strategy will not be successful if it does not align with the budget.
Choose advertising media and schedule
Once you have determined the advertising budget, you need to choose the type of media you want to use to reach your target audience. Some types of advertising media you can choose from include newspapers, social media, email, YouTube, websites, television,… All these advertising media have their pros and cons. You can choose one or a group of advertising media to implement your strategy.
Depending on the characteristics and behavior of the target audience, choose the appropriate advertising media. Choosing the right advertising media will help increase the return on investment for your advertising strategy.
Deploy advertising strategy
Now, you can deploy the advertising strategy according to the plan. Everything in your advertising campaign, such as audio, video, images, or text, must be decided within the advertising strategy. It is important to achieve consistency in advertising through multiple advertising media. Make sure to use a slogan, image, or sound that creates coherence for advertising across platforms.
Monitor and measure the effectiveness of the advertising strategy
During the deployment process, you need to regularly monitor, evaluate, and measure the effectiveness of the advertising strategy. Whether your advertising strategy is successful or not depends on the return on investment you receive when implementing the advertising strategy. Check whether the goals of the advertising strategy set initially have been achieved or not.
The best advertising strategies
Social media advertising
This is one of the most popular social media advertising strategies used by many businesses to advertise products and services, increase connections with customers. Businesses use social media platforms such as Facebook, Instagram,.., to reach and attract target customers, increase interaction and conversions.
Compared to traditional advertising channels, social media has become the top choice for advertising at many businesses due to its low cost and high effectiveness.
Paid search advertising
One of the most popular forms of digital advertising. With paid search advertising, you can target users based on the keywords they search for. Businesses can connect with target audiences based on keywords. This is a highly effective way to attract the right people at the right stage in their journey. Targeted advertising to the right audience at the right time helps improve conversion rates to sales.
Email advertising
This advertising strategy involves attracting your target audience through email. This form of advertising has a low budget and high ROI, making it one of the best advertising strategies. Email marketing is also easy to create and track its performance.
Content advertising
It is an excellent advertising strategy to attract audiences, build brand awareness, and generate free traffic. An important part of content advertising is providing information on relevant topics or solving problems that customers are facing. Content can come in various forms such as blog posts, videos, e-books, podcasts,… The purpose of this type of advertising is to attract customers to marketing channels until they become actual customers.
Now that you understand what is advertising strategy and how to build it effectively. We hope this knowledge can aid in launching successful campaigns, developing business, and boosting advertising profits.
See more articles:
- How to reduce advertising costs on Google Ads effectively?
- What is the impact of display advertising?
- How does Google AdSense work? How to set up a Google Adsense account
Frequently Asked Questions
No. While an advertising plan outlines various marketing techniques a business uses to achieve its goals, it’s a detailed document on advertising campaigns including factors such as target market, budget, goals,… Advertising strategy is a high-level plan encompassing all marketing efforts, whereas an advertising plan is detailed on how you will execute a specific campaign.
One of the most effective advertising strategies is pay-per-click advertising due to its wide reach, low cost, and high ROAS. However, the most effective advertising strategy varies for each business depending on competition levels in their respective industries and their target audience.
If you want to find the best online advertising strategy for your business, you need to consider factors such as monthly advertising budget, target audience, ability to create ad content, etc. Besides evaluating digital advertising strategies, you also need to consider and optimize marketing strategies.
