With more consumers than ever flocking to the internet to find information, read reviews, share and shop, businesses are increasingly turning to paid advertising as an essential way to guide more traffic toward their website, brand, product or service.
Because it’s relatively easy for any business to set up the likes of a Google Adwords or paid social media campaign without the help of a marketing agency, many do just that — without an intimate knowledge of the systems themselves. Therefore, a fair amount of myths and misconceptions exist about paid advertising and its functionality.
Here are seven of the most common paid advertising misconceptions:
1. I should see results right away.
We all want more sales and more customers, fast. In reality, it takes time for paid campaigns to take shape. Testing different keywords, channels and deployment strategies over time, as well as analyzing the results and figuring out what works, are key steps in building the most effective campaigns.
2. Click-through rate (CTR) is the most important metric in determining the success of my campaign.
While getting users to click your ads is a good first step, campaigns should ultimately be geared toward conversions, or sales. This points to the importance of a strong customer journey, from top to bottom. Think of it this way: a high CTR is a sign of a good ad. A high conversion rate, on the other hand, is a sign of an engaging and well-constructed customer journey; and it’s the entire journey that is important in driving sales.
3. The more money I spend on a search campaign, the higher my ads will appear in Google search results.
There are many factors, other than budget, that determine where your ad shows up in search rankings. Quality Scores take into account the overall quality and relevance of your keywords & ad elements and affect where your ad will show up at the time of a search. Additional factors include account history, landing page quality and load time.
4. Ads created for Facebook will only show up on Facebook.
Don’t forget, Facebook owns Instagram; bonus channel! Moreover, there’s something called the Facebook Audience Network (FAN), and it consists of a multitude of other apps and mobile websites outside of Facebook itself (among them heavyweights like Shazam and Huffington Post). This is good news for Facebook advertisers — their ads are not only being served on the Facebook news feed and side rail, but also within the FAN. It’s also good news for Facebook — another revenue stream.
5. An exact business name is the best keyword.
Using your own business name as a keyword is only advantageous when competitors are bidding on that same name as well. Otherwise, you are spending a portion of your budget on people who are already looking for you and who can find you organically.
6. What channel my ads are deployed on doesn’t matter, as long as they reach the most amount of people possible.
A more strategic approach is wise here. After all, not every channel is effective for people at different points in the buying cycle. For example, in the shopping industry, generic paid search ads are important in the beginning and middle of the buyer journey, whereas display ads are most effective closer to the middle of the journey. Furthermore, paid social deployments are often effective at the very beginning. Businesses should determine their campaign goals and take into consideration their specific customers before choosing a mixture of deployment channels that works for them.
7. What works in traditional forms of marketing and advertising will work in digital.
The Mad Men days of advertising are long gone. Digital has taken over, and it has changed everything. Online advertisements, as compared to traditional forms like direct mail or even television, must compete with thousands of other messages just like theirs across the internet. In addition, the way people look for, engage with and buy into marketing messages has completely changed in the digital age. This creates the need for entirely different strategies than may have worked with traditional forms of marketing and advertising.
At PIN, we have some of the most knowledgable paid media experts in the industry. We create and deploy results-driven campaigns in real-time on a multitude of channels. Contact us today to learn how we can help build your paid advertising campaign.