Online paid ads don’t have to be scary. In recent years, online platforms have made advertising more accessible and affordable for SMBs. The results we’ve seen our clients have online have been encouraging and inspirational.
But, spending money on online ads without a strategy can still be a waste of money. We’ve tested many different ad strategies to learn what works best for businesses like yours.
Keep reading to learn about the benefits of paid online ads for SMBs, and get our top six strategies your business can try.
4 Ways paid ads are good for small business
Here are the top four benefits of using paid ads:
- Targeted reach: With paid ads, you can precisely target user demographics. Precise targeting means those who see your ads are more likely to be interested. You can target based on demographics like gender, age, location, interests, and more (depending on the ad platform you choose).
- Budget flexible: Many online ad platforms allow you to customize your budget and spend. This flexibility, and low-cost barrier to entry, makes it easy for SMBs to start advertising with a small budget, try different strategies, and reallocate budget to successful strategies.
- Fast visibility and results: Unlike organic content that often takes time to be indexed by Google and show up in search results, paid ads are up near-instantly (usually within several hours). This speed is a competitive advantage for SMBs, helping them compete with larger companies that appear at the top of organic search results.
- Measurable results: Ad platforms provide detailed analytics on your ad performance. You can easily see impressions (how many times your ad appeared), clicks, conversions, and more. This provides a great opportunity for A/B testing different creatives to find the digital marketing strategies that meet your goals.
6 Strategies to maximize paid ads success
While online ads can be an affordable way to market your business online, have a strategy to maximize your success and increase conversions. Here are our top 6 strategies we find work best for SMBs.
Strategy #1: Targeting and audience segmentation
You can choose who views your ads. This allows you to align your customer profiles to your ads. You can design ads that speak to a small segment of your ideal customers. Here are some examples of targeting you can hone in:
- Demographic segments: You can show your ad to specific age groups, genders, income levels, and other attributes that align with your ideal customer.
- Geographic segments: For local businesses, you can target your customers by where they live or where they frequent. You can specify their country, region, city, or postal/zip code.
- Behavioural segments: Sites track user behaviour, such as Google searches, browsing history, and purchase history. As an advertiser, you can use these behavioural analytics to target your ad to users who have specific interests, have purchased from you before, or have engaged with your website or online content (or your competitors) in the past.
Strategy #2: Use retargeting campaigns
It’s easier to sell to someone who already knows you (compared to attracting net new customers). That’s why retargeting ad campaigns can be highly effective.
Retargeting ad campaigns show your ads to visitors who have already engaged with your website or online content. Installing a pixel (a small line of tracking code) on your website lets you track who visits your website and doesn’t make a purchase. You can then use ads to “remind” them of your business.
Try these strategies in your retargeting campaign:
- Cross- or up-sells: Offer a complementary product or inclusion that matches their past or recent purchases.
- Bundle or deal: Offer valuable, bundled deals for customers who browsed but didn’t make a purchase.
- Abandoned cart reminders: For those who add items to their online shopping cart but don’t complete their purchase, target ads that remind them they have items left to buy. You could offer an incentive or discount if they “buy now.”
Strategy #3: Benefit from lookalike audiences
Ad platforms, powered by advanced algorithms, can expand target audiences based on your existing customer base. You input the characteristics and demographics of your target audience, and the algorithm does the rest, expanding your audience to include people who likely share similar interests.
For example, if you own a chiropractic practice, a lookalike audience may include members interested in healthy lifestyles (like hiking, biking, and nutrition).
Strategy #4: A/B testing
No matter what strategy you choose, be sure to include A/B testing. An A/B test involves running two (or more) ads for a limited time, reviewing the analytics, and rerunning the best ad. It’s a great way to learn which ad images, text, and messaging convert the most visitors.
You can A/B test anything, including:
- graphics
- text
- offers
- demographics
- ad platforms
Strategy #5: Focus on intent-based keywords
If your ad platform includes bidding on keywords (like Google Ads), you can increase conversions by focusing on high-intent keywords. This means including keywords like “buy,” “best,” and “near me” in your keyword phrases. Internet users who use these words in their search often search with the intent to make a buying decision, making these great words for higher-converting campaigns.
Bonus tip: Be sure to use excluded keywords, too. This will help you optimize your budget by not showing your ads to less interested users.
Strategy #6. Monitor and tweak
Most ad platforms will update your analytics in real-time, allowing you to make changes as you learn what’s working and what’s not. Based on what you learn, you can increase or decrease bids based on real-time performance. You can also upload new creative and remove ads that are not performing well.
How to manage day-to-day paid ad campaigns
We understand the struggles you face trying to manage your ads alone. We also recognize how busy you are with your business operations. That’s why picnic social provides full-service support to help you plan, execute, and analyze successful digital marketing campaigns.
We can help you create a comprehensive campaign, including strategy, creative, and day-to-day management. This ensures your ads perform at their best for your budget and goals.
Learn more about our marketing management services today.