Online advertising is an essential part of a business’s digital marketing strategy, helping to expand the reach to various target customers and increase sales. What are the common types of online advertising? How to set up an online advertising campaign? Let’s follow the article below by Optimal Agency to get detailed answers!
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Introduction to online advertising
It is a form of paid digital marketing that leverages Internet channels to promote products, and services, or convey specific messages to target audiences. There are many online advertising channels to choose from: Google, social media (Facebook, Instagram, Twitter, etc.), email, websites, or applications.
The purpose of online advertising is to persuade the target audience to take specific actions to help the business achieve its business goals. Some common goals of online advertising include increasing brand awareness, driving website traffic, finding potential customers, increasing sales, and remarketing.
Unlike traditional advertising media, the cost of online advertising is very low. Small businesses can deploy online advertising campaigns to generate many customers with a small monthly budget. Businesses can easily track, measure, and optimize the effectiveness of online advertising campaigns and ROI.
How does online advertising work?
By setting up online advertising campaigns, advertising platforms, and websites (Facebook Ads, Google Ads, etc.) will collect information about the target audience. This information includes the interests, behaviors, locations, and habits of users.
These advertising platforms will then use this data to create different target audience groups. Businesses will need to pay to run ads for their products, services, brands, and promotions through these platforms.
When setting up ads, businesses need to choose to display ads to specific target audiences. This ensures that your ads are seen by people who are most likely interested in the products, or services your business offers. Each advertising platform will have different pricing methods for different types of ads.
Why implement online advertising campaigns?
No matter how large your business is, online advertising is one of the best ways to build a brand, find potential customers, and increase sales. Compared to traditional advertising, online advertising brings many benefits to businesses:
Wide reach
By setting up online advertising campaigns, your business can reach millions of people every day. Facebook has nearly three billion monthly active users, while Google processes about 63,000 queries per second. No traditional advertising medium allows businesses to reach such a wide target audience.
Quick and easy deployment
Unlike traditional advertising which takes several weeks to launch a campaign, online advertising can be set up and started within an hour. Therefore, you can achieve campaign goals quickly and easily. The flexibility that digital advertising offers helps you respond quickly to market changes. So you can better exploit trends and opportunities.
Accurate Targeting
Online advertising allows businesses to reach many target audiences who are most likely interested in their products or services. At the same time, it avoids wasting resources on those who do not have needs. In addition, online advertising allows you to delve into your target market and ensure that every dollar in your budget is spent on them.
All of this is due to the targeting feature of online advertising, which allows you to focus on a specific target segment based on factors such as age, location, and interests. Then your ads can be displayed to the right target audience, helping to increase conversion rates and profits for your business.
Accurate measurement capabilities
For online advertising, it will provide advertisers with real-time performance data with high accuracy. From there, you can see how your advertising campaigns are performing.
This provides a comprehensive picture that helps you better understand the effectiveness of your advertising campaigns and how they impact business goals. Through the campaign’s performance data, you can optimize details to improve the effectiveness of the ads, including content, images, targeting, etc.
Instant results
You don’t have to wait long to see results when implementing online advertising. As soon as your ads appear in front of the target audience, sales can increase. This is completely different from traditional marketing methods or other methods.
The speed at which you receive results from online advertising will be faster, and then you will get more potential customers, increase revenue, and optimize campaigns quickly. Paid online advertising campaigns must help maximize ROI.
The most popular types of online advertising
Before diving into how to set up online advertising campaigns, let’s explore the most popular types of online advertising:
Social media advertising
Social networking sites: Facebook, Twitter, Instagram, LinkedIn, and Pinterest,… with many users. Many businesses have deployed numerous online advertising campaigns on these platforms to reach various target audiences.
Regarding different advertising formats depending on the platform, most will be a form of in-feed advertising. The cost of advertising on social media will also vary depending on the platform.
Advertising on social media platforms helps your business reach very specific target audiences with the help of targeting features. At the same time, it reaches different audiences across all social media platforms.
You can use a variety of ad formats to advertise in the right way to achieve your business goals. Invest in specific advertising efforts that drive leads and sales for your business.
Paid search advertising
This form of advertising often focuses on search. Your ad can appear in results when users search for specific keywords. To perform this advertising, advertisers need to bid on keywords related to the products and services they sell through the auction process taking place on the advertising platform they are using. Advertisers only need to pay when users click on their ads.
The reason why this type of advertising is popular is to enhance competitive positioning for businesses. Search ads appear first in search engine results above unpaid results. Through advertising, you can better understand the needs and desires of potential customers. At the same time, distribute relevant ads to the right target audience.
Native advertising
This type of advertising is like no advertising when brands collaborate with publishers to create sponsored content that provides value to readers while promoting the products, services, and brands of businesses. Content is published on the partner’s page and distributed as usual. Users read content and receive value from it without feeling like they are viewing ads.
Display advertising
Among the most popular forms of online advertising include various forms: banner ads, in-content ads, sidebar ads, and pop-up windows. There are many advertising platforms that brands can collaborate with to run these ads. Specifically, Google’s display network, Facebook Network Ads, etc.
Display image advertising is one of the most cost-effective forms of online advertising. However, the CTR of this type of advertising is usually lower than other types of online advertising.
Video advertising
Video-based advertising is becoming increasingly popular, with YouTube advertising being the most prominent example. The potential reach of video ads is very large. On YouTube alone, users watch over a billion hours of video every day. This platform has a user base second only to social media platforms in terms of monthly users. Video advertising is very affordable, with the average cost per view ranging from 0.01 USD to 0.03 USD
Retargeting Ads
This type of advertising is much more effective than standard display advertising. Because most users typically make purchases after 2-3 views of ads or visits to your website. Therefore, deploying retargeting ads to people who have visited the website but haven’t made a purchase increases the likelihood of reconnecting with potential customers and increasing conversion rates.
Retargeting ads can appear on any website displaying display image ads, as well as Facebook and Google. The cost of retargeting ads will depend on where they are displayed.
Instructions on how to set up an online advertising campaign
Define campaign objectives
Before launching a campaign, businesses need to clearly define the objectives of their online advertising campaign. Come up with ideas about what your business wants to achieve and how to measure those goals to increase the chances of success. Advertising objectives you can choose from include generating leads, increasing website traffic, raising brand awareness, boosting sales, etc. You need to identify clear goals to create a suitable campaign.
Research target audience
After determining clear campaign objectives, you need to decide on the target audience for your online advertising campaign. They are people with certain characteristics, behaviors, interests, and lifestyles. You can analyze the target audience through targeting criteria such as interests, age, behavior, gender, etc. Understanding the target audience will help you create appropriate advertising messages and attract customers.
Determine advertising budget
Allocating an appropriate budget is important when implementing online advertising campaigns. It determines the amount you can spend and the channels you can advertise on. You should not focus your budget on a single advertising campaign. Instead, you should perform testing to find the best-performing campaign or ad group to increase your budget to improve efficiency.
Choose suitable advertising channels
There are several online advertising channels you can use to reach your target audience, including search engines, social media platforms, email, and display advertising. However, you need to consider where your target audience spends the most time and uses the most to advertise on those channels to reach more people and convey desired messages.
Create compelling ads and launch campaigns
Once you have identified the appropriate advertising channel and the intended budget for the advertising campaign, create ads. Your ad content needs to be attention-grabbing and relevant to the target audience. Additionally, include a call to action in the ad to encourage customers to visit the website or make a purchase…
Depending on the advertising channels you choose, the campaign deployment methods will differ. You should spend time improving ad copies to increase click-through rates, conversions, and sales.
Track, measure, and optimize campaigns
An important aspect of deploying online advertising campaigns is to regularly track, and measure the effectiveness of the campaigns, and make necessary adjustments. You should test different ad versions and track, and evaluate to determine which ad version works best to increase the budget.
Moreover, review the advertising overview report to find optimization solutions for the campaign. Or rotate campaigns to select another paid channel and run a new campaign.
You know how to set up an effective online advertising campaign. Hopefully, the content we have shared above will help you when implementing effective advertising campaigns and maximizing sales.
See more articles:
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- How to optimize CPC when running Google ads
- 5 important Google ads trends 2024 you should know
Frequently Asked Questions
For small and medium businesses, online advertising costs can be up to 2,500 USD to 12,000 USD per month. Depending on the level of competition in the industry, advertising goals, and financial resources of the business, the amount of money the business needs to spend on online advertising campaigns each month will be different.
There are many ways to measure the success of an online advertising campaign. Detail:
Click-through rate (CTR) is the number of people who click on your ad divided by the number of people who see it. A high CTR means people are interested in your ad and are more likely to buy what you’re selling.
You can also measure advertising effectiveness through conversion rate, which is the number of people who took the desired action out of the total number of people who viewed the ad. A high CR means your ad is effective in getting people to take the action you want them to take.
In addition, the effectiveness of online advertising campaigns is evaluated through cost per conversion. It’s the amount you spend on your ads divided by the number of conversions. A low cost per conversion means your advertising is effective.
