19 October 2011
King Street industrial estate's guide to online advertising
Promotion is a cornerstone of your marketing mix. Advertising is a part of this and with the digital age upon us, it can be confusing knowing where to start. That's why King Street Industrial Estate is providing some helpful tips and ideas for starting out with advertising online.
Advertising budget established, it's time to think about spending is wisely. Advertising digitally needs constant attention and input, stopping the spend for online ads will simply stop the traffic.
A difficulty with ad generated traffic is a conversion rate of 1-2% which means you're paying for 98-99% of people to come onto your site and navigate from it without taking action. When a prospect lands on your page, there needs to be something to encourage them to give up their details, a tip is to offer them something for free in exchange for their details. You can offer a free trial, report or eBook. Gaining their permission to contact them again will increase your conversion rate over time.
It is important with start up advertising to use it for testing. Using software such as Clicktale or Google Analytics will help you to see how traffic is converting and how users are engaging with your website. Tracking these prospects combined with, for example a Facebook ad will allow you to determine the conversion rate of a chosen sex and age group, letting you compare them and determine the ideal market for your advertising.
Another way you can use advertising as a means of testing is through Adwords. Setting up a campaign will allow you to see which words convert most successfully for you meaning you can cull the ones you only thought would be successful.
With these strategies in mind, it's time to think about your advertiser of choice. There are numerous out there all with different advantages and disadvantages, the trick is finding what is best for you by testing them.
You can opt for using niche advertisers in which ads will appear on sites your target demographic will be using, these click throughs and more likely to convert. The most common choice and easiest to use is Google Adwords, which we use here at King Street Industrial Estate. Increased competition for keywords means ever increasing prices when using Adwords. Facebook ads are also becoming more expensive but can be targeted at specific profile metrics such as age, gender, location and relationship status. Stumbleupon is quite a new channel for advertising; it displays content based on preferences users give when registering. It does have high bounce rates but there's always a chance some content could go viral. The final recommendation is Reddit, it has the potential to provide some very cheap clicks with all advertisers paying into one pot for adverts and a share of impressions being received based contribution.
A good online advertising strategy can help you to maximise trade, unit sales and profit. You might be so successful with it that you'll need to take on an additional industrial workspace to help you cope with increased business. If you need any advice or help with online advertising, King Street Industrial Estate is always happy to give advice based on our experiences.