Almost a year back, the IT giant Cisco saved $ 100,000 when it decided to promote the newly launched router on digital platforms only. These days’ advertisers bet on digital advertising solutions because they help them accurately analyse the return on cost and the overall impact of an advertising campaign. A forecast made by PwC USA also claims that digital advertising is growing exponentially and American companies are going to spend $38.6bn by 2019 in this domain. In contrast, newspaper advertising is going to have a tough time and could experience a negative growth of 33% during the same period.
A major advantage of digital advertising is Pay per Click (PPC) payment mode, which means advertiser does not pay any extra amount to the partner website other than the number of clicks on the advertisement. Besides, display of an ad on both desktop and mobile screen ensure maximum outreach of a brand. Also, the mass appeal of social media and the availability of advanced analytical tools on social networks make Digital Advertising highly cost-effective and result oriented.
Strategies that Bring Results and Save Money
The cost of digital advertising is significantly cheaper than traditional advertising and businesses can save a great amount of if they carefully focus on the following things.
To ensure best returns from a digital advertising campaign, it should be targeted to the right audience. Advertisers who carefully select their target audience using the first-party data, second-party data, and third-party data as per their relevance receive impressions from the potential customers only. Data-based audience segmentation empowers advertisers with informed bidding decisions which ensure the success of an ad campaign and save money for the businesses.
Chase the Majority with Dayparting
Dayparting means dividing the scheduled week/day into multiple time slots and selecting those time slots when potential customers are expected to view and click on the ad. Various analytical tools help to study and predict the media consumption behaviour of the target audience and enable the advertiser to broadcast the ad at the right time. Dayparting ensures maximum return from a digital ad campaign because it empowers the advertiser with effective bidding strategies.
Keep the Campaign Fresh with Frequency Capping
Frequency capping decides that how many times the ad will be displayed or broadcasted to the particular audience during the total duration of the campaign. Advertisers who strategically fix the frequency capping usually get better attention of the people and they positively influence the decision of the prospective buyer. Low-frequency cap is considered beneficial for new campaigns with fresh creative while in the case of repeat/revised campaign frequency capping should be increased moderately.
Choose the Right Destination with Geotargeting
Geo targeting means more qualified leads and maximum utilisation of the ad spends because it allows the advertiser to run a campaign in selected geographical locations. The target area can be finalised within a particular state, city or even a selected region of the city which ultimately reduce advertising waste. Geotargeting is an ideal way to control advertisement investments in digital landscapes as it enables the advertiser to develop a customised campaign for niche segments. Geotargeting is also a very useful tool for advertisers in collecting the information of potential customers, their buying habits and consumption behaviour. It also helps them to study market trends, the position of the competitors and what approaches they are following to promote their products.