New to setting up paid ad campaigns online? Here are 5 essential things you should consider before you get started.
1. What is your goal?
Whether you are running adwords, facebook ads, or something else, the most important part of any paid ad plan is your goal. What do you want to achieve? What are your targets? If you have a definite goal you can create a battle plan of how you will achieve it.
Paid advertising from the term itself, “paid”, means you will spend money to advertise; and when you spend your hard earned money, planning well will save you from wasting it.
Without a specific goal in mind, creating and executing an effective paid ad strategy is almost impossible.
2. How much budget are you willing to spend?
There are a lot of things dependent on your budget, and it basically dictates everything you can do in your advertising campaign. This includes what platform you can use, the keywords, your bidding strategy and even your goal setting.
Budget affects overall performance of an account. A higher budget can help you make better adjustments on your advertising account (add more keywords, expand location, etc.) whilst a lower budget will give you some limitations when you launch your paid advertising campaign. It’s important to keep in mind that too high a budget can also have an adverse affect on your campaign, leading to higher CPCs and acquisition costs if not managed correctly.
3. Your competitors
The best benchmark you can use in creating your paid advertising account is your competitors. If you know what your competitors offer and what they are doing, you can set better goals and create better plans for your advertising campaign.
Having an idea of what others are doing, especially what your competitors (companies or people who offers the same service/product in the same location) will help you develop a better way of advertising your own product/services.
4. Core services and/or products
This is for companies who have a lot of products or services. It is a wise move to choose the core or most important service/product to advertise, instead of advertising everything. Putting everything online can cost you. Unlike if you take one product/one service at a time, focusing on the core ones, you can test and see if it will work. Then expand or add more once you have seen the results of the 1st product or service you launched.
5. Target Audience
Just like goal setting, the target audience is an important aspect when setting up a paid advertising campaign.
No matter how good your plan is, even if you have the best landing page or even the highest budget, if your target audience is wrong, your campaign will not work.
The target audience is the set of potential people who might buy your product or get your service/s. If you do not have the correct target audience, you will not be able to get a conversion, simply because you are offering your service/product to the wrong set of people.
To avoid waste of ad spend and money, make sure that your target audience is correct from the very beginning.
Not sure where to start with setting up your paid ad campaign? Worried about wasting ad dollars?
Book an obligation free consultation with Digital Deluxe, we’ll give you some actionable advice for setting up your paid ads and maximising your chances of success.