It can’t always be easy to keep track of how you’re spending money on your Display Ad Campaign. No, honestly, it can be quite a task to work within a budget while trying to have your ads reach maximum people. PPC marketing is no child’s play; more often than not you may end up spending a lot more on this form of advertising than you’d have taken into account. So the question inevitably arises: when is such additional spending required or justified?
The first thing you may need to do to keep your spending within a budget is to have a budget. Sounds too simplistic? Perhaps it is, but you’d be surprised at how many people ignore this crucial piece of advice. Not being able to figure out how much you would need to spend on an ad campaign can cause a significant strain on your finances. You don’t need to have the exact figures worked out – an estimate should do, for the initial stages at least. Remember, there are several steps involved in designing and executing a display ad campaign.
You’ll need PPC experts, graphic designers, and more to help you accomplish what you mean to with an ad campaign – boosting your conversion rate and consequentially, your sales. If you have an estimate for your budget worked out and hire an individual or agency whose fees stay within this estimate, you should be fine. But what if you end up overspending? Should you start panicking? Not yet, say industry experts.
Your choice of platform can play a big role in determining how much positive engagement you receive from viewers and may just end up justifying how much you spent on your ad campaign. So, if you think you’ve stretched your budget, look for the right kind of platform to feature your display ads on to gain good returns on your investment. Recent stats have indicated that ad spending on platforms such as social media and gaming apps has increased by roughly 50% over the past year.
At times, the amount of money being spent by advertisers on certain ad platforms is also influenced by the amount of money that’s not being spent on the same. Confused? Let me explain. If some advertisers on Instagram say they’re going to reduce spending by 5% this year but others say they’re going to increase spending by 45%, this means that overall spending on Instagram ads during the year will increase by 40%.
With an increasing number of advertisers opting for mobile apps to showcase their display ads on, it comes as no surprise that spending on these apps is set to grow rapidly over the next few years. Conversely, spending on ads featured on more traditional platforms such as television and radio is on the decline. Given that many people are now choosing to pay for streaming services and enjoy their entertainment ad-free, it makes little sense for advertisers to spend the kind of money on such platforms that they did before.
Another way in which you can determine whether or not your ads are worth spending extra money on is to evaluate the type of keywords you’re using in them. If you’ve bid unreasonably high amounts on keywords that bring in low traffic, you’ve made a mistake; if not, congrats! Your ad campaign may be able to pay off how much you splurged on it. You could consider the opinion of a PPC expert on matters such as this one as they have all the expertise one would require to determine whether a keyword bid is justified.
Additionally, you’ll need to review the performance of your ads continually to see if you were right in spending all that money on them. One way to do this would be to use A/B testing (also known as split testing). You could have more or less the same display ad for the same product but feature the ad on two different platforms with one costing you more than the other. Then, you wait and see how audiences react to the ads on these platforms.
Based on the results you’ll achieve with this testing method, you can determine which platform works better for your ad and decide whether it was worth the money you spent to advertise on it. In this way, you’ll also get a clear idea of which set of audiences reacts more positively to your ads and thereby gives your click-through rate a healthy boost.
Also, keeping track of what’s trending online can help you capitalize on increased traffic within just a few days. Sure, staying on-trend doesn’t always come cheap, but more often than not it seems to pay off for advertisers willing to risk trading tried-and-tested marketing techniques for the sake of appearing up-to-date with what’s garnering attention from audiences online. This is not only useful in the context of display ads, but it’s also useful for advertisers that specialize in content marketing as well.
In these cases, it doesn’t matter if your budget is bursting at the seams, the increased traffic and high conversion rates you’ll achieve will dwarf your expenditure if you execute your campaign the right way. As always, it’s better to rely on experts such as PPC specialists if you don’t have an in-house marketing department that’s willing to tackle designing and launching your ad campaign. After all, to maximize revenue, recognizing the importance of how much you spend on your ad campaign and determining whether or not you can increase this spending is, as they say, of the essence.
Sasha is the kind of person you'll always find with a book in their hands. She believes writing is also a way of learning, and apparently there's nothing better to learn about than PPC & Advertising.