In recent years, we have seen traditional advertising take the backseat for modern technology. Traditional media companies are now switching their direction and adopting digital, but why? Because there is an extremely large market interested in digital advertising.
Digital advertising spend is set to grow from $83 billion this year to $129+ billion by 2021.
WOW! That’s a lot of money. Statistics like this show us just how high the demand is for digital advertising solutions; and just how successful digital advertising can be in terms of acquiring new customers for local businesses. Digital advertising is becoming a necessary addition to every local businesses toolkit!
So how can local businesses leverage digital advertising to acquire new customers, revenue and generate massive online engagement?
We have the foundation that every local business needs to succeed in the realm of digital advertising.
How Does Digital Advertising Help a Local Business?
Digital advertising increases awareness—it’s that simple. Digital advertising consists of a range of services, all of which work to promote a business online.
More and more businesses are increasing the amount that they spend on digital advertising, and experts like Jamie Turner suggest digital advertising on social platforms is well worth the spend.
“If I were to provide one tip to people who are using social media, it would be this — don’t be afraid of paying for social media reach and clicks.” – Jamie Turner, 60secondmarketer.com
The best part about digital advertising is that results can be easily monitored and ROI can be easily tracked. You probably don’t want to be spending lotsa money without some proof of performance right?
With traditional media channels, there is sometimes no way of tracking the effectiveness of an advertisement in terms of advanced data analytics. With digital advertising, companies like Google and Facebook allow users to access advanced analytics. This way local businesses know that their money is being well spent and that the digital advertisements are positively impacting their storefront.
When determining the success of an ad, the important factors will differ case by case. For the most part, the success of an ad lies in the indicators listed below.
ROI indicators/measures of a successful campaign:
- Impressions: the actual # of views on an advertisement
- Clicks: the actual # of direct clicks on the advertisement
- Engagements: Social & landing page clicks
- Results: In most cases, results come in the form of a phone call or a store visit.
The Best Places to Advertise
Through our team’s extensive work in the digital advertising space, we have come to the same conclusion as pretty much every digital advertising company. The best places to spend money on digital advertising are:
Google & Facebook
With digital advertising, not only is a local business visible online, but they are visible to the right people online. Platforms like Facebook and Google allow for advanced targeting, which puts a local business in front of consumers who are more likely to convert into a sale.
Plus, Google and Facebook accounted for roughly 60 percent of ad spend in 2017!
Reach: Google is the largest search network in the world, and consumers are using Google every single day to search for local businesses. Utilizing Google’s massive network capabilities, digital advertisers are able to find ideal prospects and get in front of users looking for their products/services.
In the age of digital, people are not looking at TV commercials or listening to radio ads to find a local business, they are searching for a service and then locating your business online.
With 3.5 Billion Google searches conducted every single day, customers are looking for local businesses and businesses should want to be on Google.
Flexibility: Google allows the local advertiser to spend whatever they want, whenever they want. With flexible options for ad spend, advertisers are able to test what works and what doesn’t work for a business. Spend a bit, wait to see how the campaign performs, and then reinvest in larger budgets for greater prospect reach.
Audience: The audience on Facebook includes 1.32 billion daily active users (DAUs) on average, at an increase of 17% year-over-year. As a local business, you simply cannot ignore the fact that Facebook is likely an intersection in which you can find prospective customers. If the daily average users stat doesn’t have you convinced then let’s talk about how often social media is being used. The average person spends nearly 35 minutes everyday JUST on Facebook, according to a recent study by Mediakix.
If there is one thing to take away it is that the audience on Facebook is MASSIVE, and they are on Facebook a LOT.
Targeting: Facebook Ad targeting is a marketer’s dream. Facebook allows the ability to focus on users so microscopically that you can basically become a bit of a digital stalker (in a good way?). Target users by their interests, behaviours, age, gender, location, and really anything that their Facebook profile may reveal about them including job title.
The Facebook algorithm has brought about changes to the local advertising landscape, but it remains one of the best environments for local businesses to get the word out about themselves!
By leveraging these 2 platforms, every local business can easily take their advertising game to the next level, and begin to rake in new revenue—with the data to back their investment.