Digital?ad?best?practices:?Learn how to optimize your?advertising campaigns?when money is tight.??
As?businesses are impacted by?the pandemic, many have had to?drop?advertising budgets?and re-examine their digital strategy.?With?tightened?purse-strings?and higher stakes, efficient advertising has never been more important.?
Here are?five?effective low budget ad tactics,?businesses?should?consider?to?make?the most of their ad dollars:?
Focus Budget on Low Funnel Tactics?
Tap into your existing member database through remarketing?campaigns.?Existing member email lists can be loaded into?Google and all social platforms, enabling you to?reach?web visitors?over a set period?with?digital?ads?that relay?promotional?offers,?product information?and?important?updates.??
Using Google Analytics,?URL based audiences can be created to reach people who have visited key pages on your website,?spent?a set amount of time?on your website, triggered an event (i.e.?clicked a?call-to-action?button) or?visited?a set number of pages before leaving. These?high intent audiences are?already?invested?in your services or product, and?they?need to be reminded?why they should buy from you now.??
Across?different?platforms, remarketing audiences can?also?be created for?these low funnel audiences:?
- People who have liked your page?or engaged with your?content?recently?(Facebook/ Instagram)?
- People who have swiped up on ads?or shared/saved a lens/filter?(Snapchat)?
- People who?have seen?or engaged with your campaign?tweets (Twitter)??
- People who have?viewed or?added items to cart, but?didn’t?check out (Google Shopping)
Make sure to max out your budget on remarketing?campaigns?across all platforms?before investing in?higher funnel?tactics.??
Use Lookalike Audiences?Before Going Broad???
Targeting lookalike audiences allows?you to?reach people who?have?similar characteristics?to your current audiences.?Lookalike audiences work best when the audience source is compiled of?at least 1000?high value?past?purchasers?or customers.??
Across Google, Similar Audiences are automatically created?under Tools & Settings > Audience Lists?once lists are synced from Google Analytics.?These audiences can be layered into your Search campaigns and targeted in Display, Gmail, and YouTube campaigns.??
When creating a Facebook lookalike audience, a 1% or 2% audience is recommended (this will find 1% or 2% of the population who most closely matches your selected audience source).?Across Snapchat, lookalike audiences can be created to optimize towards reach?(large and broad), balance?(mid-size)?or similarity?(smaller and?closest resemblance).?Lookalike?creation is?available across?other?social platforms?as well,?including?LinkedIn and Pinterest.??
Across all?advertising?campaigns, make sure you?load a?seed?(original)?audience of your best customers?to get the best results.?
Make it Easy for Customers?to Pick You?
Optimize your?advertising?campaigns?to make?it easy for customers?to buy from you.?Can you run lead generation ads across Facebook and?LinkedIn,?so customers don’t have to leave social media to get a quote? Can you run call extensions or?Call?Only Search ads?for?service-based?products??Can you showcase?your offering?virtually in a?YouTube video????
Call out any?Unique Selling Propositions (USPs)?in your ad copy,?headlines,?images,?and?ad?extensions?–?anything from?“Free Shipping” to “Save 10%” to?“Over 1000?Five?Star Ratings”?to “One Click Check-Out”.?Be sure to review all ad?copy in market, to ensure content is relevant and fresh.???
When?in?Doubt, Switch to Manual Bidding?
Manual bidding offers more control over?budget?during uncertain times. With fluctuating Cost Per Clicks (CPCs),?week over week?Cost Per Acquisition (CPA)?data can see-saw?aggressively.?Across SEP accounts,?CPCs are changing weekly across industries, as competitors adjust their advertising budgets and the auctions change.?Manual bidding?ensures you?don’t?bid too high when budgets are constrained.?
Across Display, experiment with setting CPC bids as low as $0.30 –?monitoring?placements and bounce rate to ensure you are getting high-quality?traffic.?Across Search, decrease bids for keywords that have a low “Search?Lost Due to Impression Share (Rank)”.?Across?social media, set bid caps to ensure your CPAs are kept in line. On YouTube, CPA bidding?can be changed to Cost Per View (CPV) bidding, with a CPV cap of 5-10 cents.???
Experiment?with?New Targeting,?Keywords,?Betas and Tactics?
The best way to?optimize?advertising?campaigns?is?to?set aside budget to?continuously?test new targeting?and tactics, even when budgets are constrained.?Across Google, targeting is constantly evolving, with new topics, in-market segments, detailed demographics,?and?live events?launching?each quarter.??
Experiment with new?Custom?Intent audiences –?audiences that target people actively searching for specific keywords.?Create new?Custom?Affinity audiences, using URLs for newly published blogs your audience is visiting that pertain to your business.??
Across Search, look for new competitors to target.?Trending keywords?can?be added to your?advertising?campaigns, as in some cases these?new?relevant keywords will outperform historical keywords.??
Across many?platforms, experiments or A/B tests can be set up to determine?winning?creative, placements, audiences, and bidding strategies.?Challenge yourself to answer the following questions:?
- Does an image with a CTA outperform an image without??
- Which CTA works best for my?digital?ads??
- Do headlines with?my?brand name?outperform headlines without??
- Do Dynamic Search Ads work for?my?business??
- Does implementing super low bids?on general keywords?drive conversions?for me???
As the times shift and so do advertising budgets, what can?you?do to?maximize your media spend and make every dollar count??
Get in touch with our team to discover how you get the most out of your marketing dollars.?