Paid advertising is when a marketer purchases advertising space from another company or individual.
It is the opposite of organic advertising, which relies on people to discover your business through online search engines and social media word-of-mouth.
Since organic advertising can take months or years to attract enough attention to your company, a new business owner could use paid advertising to attract immediate attention.
Of course, paid advertising requires an upfront investment, but it can quickly pay off if executed properly.
Let’s explore why.
Search Engine Marketing
Search engine marketing is how you get your website advertisement seen on popular search engines like Google and Bing.
For example, when someone types in a particular keyword phrase related to your promotional material, you’ll want your website listing or advertising to get placed at the very top of their search engine results pages (SERPs).
There are two ways to perform search engine marketing.
First, you can try the traditional approach and rely on search engine optimization (SEO) to drive organic traffic. But there is no telling how long it will take for SEO to deliver results.
That is why you should use pay-per-click (PPC) search engine marketing instead.
What is PPC?
PPC is a paid advertising model that requires the advertiser to pay a small amount of money for every click made on their advertisement. The advertiser bids on specific keywords that their target audience will use in search engines.
The publisher will display the advertisements at the top of the SERPs for free. But when someone clicks on an ad, the advertiser has to pay whatever amount they bid on for the keyword used to generate the advertisement.
PPC can be a powerful paid advertising tool for new business owners.
It offers the opportunity to attract targeted customers based on their demographics. So not only can you attract more people to your business, but you can also attract viewers who can likely get converted into leads and customers.
Here are the most popular PPC platforms:
You’ll notice that two of these platforms are social media networks. PPC works very similar on Facebook and Instagram as it does on the Google and Bing search engines. However, the specific tools and filters available vary on each platform. Some advertisers have better luck with Facebook than Google and vice versa.
The Top 4 Benefits of Paid Advertising in 2021
Paid advertising is the key market tactic in 2021.
There is no time to rely on free advertising and SEO strategizing any longer. The marketplace is changing every day, and you need to stay one step ahead of everyone else.
This can be done with paid advertising.
Here are the top 4 reasons why paid advertising is the ideal solution for growing your business in 2021.
1) Better Audience Management
Audiences are much more diverse than they were a decade ago.
As more people use the internet to look for products and services, you need to appeal to the specific groups of people who are most likely interested in your content.
One of the great things about paid advertising platforms is the analytical tools and audience management technology available. They let you see the kinds of people clicking on your advertisements and avoiding your advertisements. That way, you can better identify your target audience.
Audience management is a great way to identify your ideal audience from the diverse crowd that uses search engines and social media networks.
If a paid advertisement platform doesn’t have adequate audience management tools, you wouldn’t know who to keep targeting with your paid advertisements. Then it could result in no leads and lots of wasted money.
2) Beat the Competition Faster
In 2021, the competition in the marketplace has skyrocketed for businesses of all industries. Their biggest challenge is gaining attention and building name-brand recognition to stand out from the competition.
This is not always easy to do with free and organic advertising methods. A convenient way to bypass the competition in a crowded marketplace is to implement paid advertising techniques.
Many businesses still use traditional paid advertising methods, such as classified ads in the newspaper and print mail flyers. But these methods are too weak to use in 2021. Nowadays, the most successful businesses use online paid advertising methods, such as PPC, pay-per-impression (PPI), and influencer marketing.
3) Paid Influencer Recommendations
Thanks to social media, paid influencer recommendations are the latest trend in paid advertising. Influencers are popular social media users who have at least 10,000 followers or more. If the influencer produces content in a particular niche, an advertiser will pay that influencer to recommend relevant products or services to their followers.
Numerous brands are hiring social media influencers on Instagram and Facebook to recommend their products and services.
If you want your business to succeed in 2021, you must allocate some of your marketing dollars toward paid influencer marketing. Then your brand can gain a more substantial presence on social media.
4) Budget Friendly
The current economic times have been hard on a lot of individuals and small businesses.
You might think that paid advertising requires you to spend several hundreds of dollars per day. The good news is that it doesn’t cost any more than you want it to cost.
If you have a small advertising budget, you can pay whatever amount you can afford for advertising. PPC platforms give you the power to choose the maximum amount of money you’re willing to spend on advertising per day.
Keep the limit within your budget, and you’ll never overspend on advertising ever again.
Paid advertising will always be an effective way to boost your brand name recognition, gain more leads, and sell more products or services.
But in 2021, paid advertising is even more essential for the success of a new business.
So try it for a few weeks and see how well it works for you. Based on the results of your efforts, you can increase your paid advertising investment until you achieve the end goal you have set out for yourself.