Are you looking to start running paid ads in 2021? Paid advertising through Facebook Ads or Google ads is an outstanding way to grow your business and increase revenue. However, it can be overwhelming and difficult to know where to start. We’ve put together this guide to help you navigate the big picture of paid advertising. Understanding these 3 advertising principles will give you the foundation you need in order to feel comfortable entering the ad world. We want to help you understand the big picture of advertising.
Wear-in and Wear-out:
Advertising wear-in is the concept when the advertisement is increasing in viewership and consumers are gaining awareness of your brand/company. Wear-out is where the viewer begins to develop a dislike for the advertisement. You want to prevent this from happening as long as possible. This is a vital part of your ad’s journey. How can this be done?
First things first, create relevant content. It is crucial to your potential customers and clients to understand exactly what it is that you can provide for them. Whether your specialty is better pricing, higher quality customer service, etc. Your message needs to stick. Without being able to interest your audience, you won’t convert leads. Wear-in is your introduction. Your opportunity to catch that initial attention and use your creativity. Paid ads are an important part of advertising, so it’s important to take time to make them great. Through these paid ads your business will reach more people in your market.
The big picture of advertising continues with Derek D. Rucker, Professor of Marketing at Northwestern University. He states “substantial levels of repetition can foster wear-out; people become less favorable toward a product as repetitions mount”. With an increased number of exposures to your advertising, comes a decrease in likeness. What does this mean exactly? For you, this means more advertising and more reach. While important to sustain the same theme, your message can then be altered. Vary your message by displaying different services or products offered. Other examples of how to create new advertising is being interactive. Posting questions or asking for responses engages your audience.
Picking your advertising vehicle:
An advertising vehicle is the platform in which you choose to do your advertising. This could but is not limited to: social media, television, digital, etc. Each of these vehicles has different benefits and downfalls. The important thing is to do your research and see what is available and beneficial for your business. One key factor is to remember your target audience. If your target market is men and women between the ages of 70-90, it’s probably not in your best interest to do all your advertising on social media. Knowing your audience is a huge part of the big picture of advertising.
The next step is to schedule and research your advertising medium. For example, for television, your medium would be what specific channel and air time you choose. For social media, it would be what platform you choose to advertise on. Whether that be Instagram, Facebook, LinkedIn, etc. Additionally, Lift Local provides Google ads. Google ads leads convert 50% better than purchased leads.
The Purchasing Funnel:
Last but not least, in the big picture of advertising, it’s important to understand the purchasing funnel. This is an important concept to always keep at the forefront of your mind when thinking of advertising. The purchasing funnel has four key elements to remember.
1. Awareness: Awareness is being aware of your clients/customers and asking the big questions. Such as “Are people familiar with my brand/business?”. This includes the topics covered earlier, such as vehicles and mediums and brand awareness.
2. Attitudes: Attitude refers to how people feel about your brand. Whether we like it or not, emotion is a huge part of marketing and advertising.
3. Action: Are people actually purchasing what I am offering? This includes aspects such as pricing and distribution.
4. Action Repeated: Going along with number three, here we aren’t just asking if they’re purchasing, but rather are they repeat customers? If you have an agency, are these clients that will stay for a long period of time? These are important building blocks to go through during your marketing plan and always when talking of advertising.
Although this can seem like a lot of information, the important phrase to remember is the big picture. Within this big picture can come different ideas of what is most important for you and your business. Asking the big questions can take more analysis than anticipated, but without asking those big questions you sometimes don’t see big problems. Taking the time to properly draw out your big picture and understand paid ads as a whole will amplify your advertising and help you get where you need to be. Paid ads will pave the way for your business’s growth.