Online advertising is essential in 2021, no matter your industry, brand, or products. But don’t just take our word for it. If you’re still not convinced, here are ten benefits of advertising online to demonstrate just how vital this concept is:
Benefit #1: Advertising Online Is Cost-Effective
Contrary to popular belief, advertising online can be extremely affordable, depending on your approach. Of course, costs vary based on where you’re advertising, the type of advertisement, and the keywords you’re bidding on.
Still, overall, advertising online is more cost-effective compared to other types of advertising, including print, television, direct mail, radio, etc.
On Facebook, the average cost per click (CPC) is about $0.97 across all industries, whereas 1,000 impressions (CPM) will cost you about $7.19. On Instagram, the CPC and CPM costs are slightly lower at about $0.70 and $6.70, respectively.
On Google, the average CPC across all industries is $2.69 for search and $0.63 for display.
Benefit #2: Advertising Online Is Efficient and User-Friendly
Another benefit of advertising online is you don’t need to have a marketing degree or be particularly tech-savvy to be successful.
Many online advertising platforms have made it incredibly easy for you to build and launch campaigns all on your own.
If you can’t figure it out on your own, these platforms also offer tons of resources to help guide you through the process.
And if you still need help, you can always reach out for support from a dedicated team of experts.
Benefit #3: Advertising Online Is Measurable and Trackable
Even though advertising online is relatively cost-effective, it still costs money, so you need to make sure that you’re getting the best bang for your buck.
After all, you don’t want to be wasting money on ineffective campaigns.
When you advertise online, your campaign results are tracked with key performance indicators (KPIs) that you can use to measure the effectiveness of your campaign. For example, your click-through rate (CTR) indicates how many users are clicking on your ad.
Return on ad spend (ROAS) is another KPI that measures how much revenue you’re earning compared to what you’re spending.
Benefit #4: Advertising Online Offers Advanced Targeting Mechanisms
Most businesses have a target group of people to which they’re trying to appeal with products and promotional content. Online advertising makes it easier than ever to reach this target group of people through advanced targeting mechanisms.
Many online platforms gather tons of data about their users that you can then tap into as an advertiser. For instance, you can target people based on demographic information like age or gender, geographic location, interests, or even past actions.
This allows you to reach people who are more likely to be interested in your business and buy your products.
Benefit #5: Advertising Online Offers a Global Reach
Even though online advertising allows you to target people based on geographic location, this doesn’t necessarily mean that you have to. In fact, another benefit of online advertising is that you’re not limited by geography, and you can effectively reach potential customers all over the world. This global reach is particularly beneficial to ecommerce companies that aren’t limited by geography, in contrast to other types of advertising that are limited based on location.
Take television advertising, for example, as networks are usually either national, regional, or even local. The same goes for print advertising as these ads can only be viewed by people in the specific areas where they’re placed rather than worldwide.
Benefit #6: Advertising Online Works With Different Marketing Objectives
Advertising online can work for you if you’re a new company just starting out that’s solely focused on building brand awareness. You can easily create brand awareness campaigns online to get your name out there and share consumers relevant information about your brand.
On the other hand, advertising online also works for generating leads, developing brand loyalty, converting new customers, retaining existing customers, and more — it all just depends on your goal and approach.
Benefit #7: Advertising Online Works With Different Steps in the Sales Funnel
Advertising online can also work with different steps in the sales funnel. For instance, it can help generate leads at the top of the funnel by establishing awareness. From there, it can establish interest by advertising specific products or services.
It can then drive potential customers to make a purchasing decision by offering special discounts or advertising sales events. Finally, it can be used post-conversion to keep up with your customers and drive repeat customers — boosting brand loyalty in the process.
Benefit #8: Advertising Online Offers Split Testing
Another way that you can get the most bang for your buck when it comes to online advertising is to utilize split testing. Split testing can be used to test your online advertising campaigns before you do a wider launch to make sure that they are actually effective.
Split testing involves comparing two different versions of an ad by changing a single variable, whether it be color, image, or text. To do this, you launch a number of different ad campaigns on a smaller scale and see which one achieves the best results. Since you’re only changing a single variable in each version of the ad, it’s easy for you to determine why one version is performing better than another so that you can combine all of the best-performing components into a single successful ad.
Benefit #9: Advertising Online Comes With Optimization and Automation
One huge benefit of advertising online is that it comes with tons of options for optimization and automation. For instance, many online advertising platforms allow you to automate your bidding — making it more likely that you win bids for your chosen keywords at the lowest possible cost.
Many online advertising platforms also utilize artificial technology (AI) to optimize your advertising campaign during its run. So if your campaign isn’t doing so well, you can just let technology do all the work to get it back on track.
Benefit #10: Advertising Online Is Adjustable and Responsive
At the same time, you don’t have to leave everything up to technology — you can be in complete control of your online advertising campaign since this advertising method is extremely adjustable and responsive.
If you’re not getting the results you hoped for, you can quickly make changes to your campaign that will go into effect immediately — ensuring that you’re no longer wasting money on ineffective ads.
It can be challenging, time-consuming, and even impossible to make changes to other types of advertising campaigns. Take television commercials, for example.
You would have to go in, make the necessary changes, contact the network about the change, and wait for the new version to air — all the while; you’re still being charged for the old and ineffective ad.
This is definitely not the case with online advertising, where you can make changes at the click of a button.
Wrap Up on Benefits of Advertising Online
While you don’t technically need a marketing degree or experience to advertise online, working with experts like Greg Gillman still doesn’t hurt.
Greg Gillman can also help you go beyond your basic online advertising campaigns to achieve a full omnichannel approach to marketing.
He has helped brands like Theragun, Petco, Ring, Adidas, and more generate $4 billion in annual revenue thanks to his efforts and expertise — and he can do the same for you. Reach out to him here to get started with online advertising.
Sources:
Measuring Success: Six Digital Marketing Metrics and KPIs for 2021 | Forbes
Connecting to Your Target Customers | Business News Daily
Why Split Testing Is the Best Way to Prevent Wasting Marketing Money | Entrepreneur
