Paid media, also known as PPC (pay-per-click), is a marketing strategy that focuses on promoting content externally. It involves paid placements of advertisements (generally pay-per-click advertising) or display adverts. The aim is to attract those who are looking for the solutions you are providing. For an overview, a paid media strategy contains five components:
- Choosing your Platform:
Different channels have differing demographics and are better suited for some types of content than others. Think about how your media will fit into the platform.
- Budget Determination:
Setting up a budget will help you define your ROI as well as save you from overspending.
- Setting up Objectives:
Goals will help in faster achievement of success. Define your objectives and determine the KPIs you will use.
- Defining your Target Audience:
Understanding your audience is as important as understanding your content. It will equally contribute to your success.
- Setting Dates and Launching:
Pick a starting and end point for your campaign and thereafter launch it. After completion, gather data and use that information for future paid media strategies.
There is a clear difference between paid, earned and owned media. Paid media is the content that is externally placed for a fee. Earned media is the content that is about your business or related to it, that you haven’t paid for. Owned media is the content that is owned by an organization.
While planning for your 2023 paid media strategy, consider the following strategies:
Increase in your Paid Search Budget:
Paid search has emerged as a growing trend following a growth in mobile and voice search. Allocate a larger budget to take its advantage in 2023. Whatever the reason, promotion of a new product or targeting a different audience. An increase in your budget can help you achieve it.
Use Retargeting Advertisements:
By using these ads you will reach people who have already shown an interest. Targeting ads can help you increase your conversion rate and can cause a significant increase in lead generation.
Investing in Social media Advertising:
Social media will expand your reach to your target audience. Social media advertising will also help you increase the brand awareness for your business.
New Ad Formats:
New ad formats are getting introduced all the time. So, it is important that you experiment with them and find out what works. You can also stay ahead of your competitors and reach out to your target audience in a unique way.
Use Video Ads:
Video content is currently the king. Video ads are best to grab attention and create an engaging experience for your target audience. Keep them short and to the point because most of the people have a short attention span.
A paid media marketing holds so much importance because it is a great opportunity to create exposure for your content and increase their brand awareness. And all this is achievable in a short period of time. A PPC strategy for your content is the best way to present it to the right audience at the right time.
Do also check out another article on Guide to Social Media Strategy Creation for your Business