Understanding Performance Marketing and Paid Ads
Performance marketing is a comprehensive approach that focuses on achieving measurable results through a variety of digital marketing channels. Paid advertising is a key component of this equation, where businesses pay to display their ads to a specific audience. These ads can come in various forms, such as Social Media ads (Facebook and Instagram) or Search Engine Ads (Google).
The Paid Ads Ecosystem
Before going further, here’s a quick rundown of the main tools that we can access in today’s digital landscape.
Google Ads: Google Ads allows businesses to bid on keywords and display their ads on the Google search results pages. This allows for a wide reach and targeting options to connect with potential customers that are actively searching for a product or service.
Meta Ads (Facebook and Instagram): Meta, formerly known as Facebook, offers two platforms for advertising: Facebook and Instagram. Both platforms offer precise audience targeting, enabling reach to users based on their interests, demographics, and behavior.
Display Advertising: Display ads appear on websites and apps within Google’s Display Network, or other ad networks such as YouTube. These ads are visually appealing, and are a great tool to build brand awareness.
Common Mistakes
- Insufficient Budget Allocation
Where bidding is king in getting your content in front of your audience’s eyes, it’s important to remember that a limited budget can result in being overshadowed by bigger spenders.
But don’t be disheartened- there are ways around this. Carefully assess your business goals, industry competitors, and CPC (cost-per-click) for your target keywords. Doing your due diligence will help you create a realistic budget that is supportive of your goals, and ensures that you can still remain competitive in your chosen platform and niche.
- Inefficient Ad Assets
Low-quality creative assets can also have an impact on how your ads perform. Are your ads visually appealing?
OUR TOP TIP: We always like to include some form of a CTA (call-to-action) in all our assets; this means giving audiences a clear direction as the next step in their consumer journey. This could be a link to a resource, a product page, or a custom landing page to add value to their experience. - Inaccurate Targeting
Broadcasting your ads to a wide audience can result in wasted ad spend. Tighten your scope so that you are speaking to your ideal customer. This will help ensure that every dollar you spend works as hard as it should.
Powerful targeting options on Google and Meta help define audiences based on demographics, interests, location and overall online behavior. Conduct thorough keyword research to ensure your ads appear in front of the users who are already actively seeking what you offer.
There are numerous other ways for you to get the most out of your next paid ad campaign. From A/B Testing to see which variations work best for your audience, to Conversion Tracking to determine how effective your ads are.
Paid advertising can be a game-changer for small businesses looking to expand their online presence and drive revenue. By avoiding these common mistakes and implementing smart budgeting strategies, you too can maximise the effectiveness of your campaigns. Remember to constantly re-evaluate and lean on reporting to make improvements, so that you get the results you desire in the long-term.
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