8 Smart Paid Advertising Strategies To Growth Hacking

Introduction

It’s no secret that to be successful, businesses need to find ways to get their products and services in front of more consumers. One way to do this is through paid advertising-spending money on ads to generate more traffic and leads. But which one of the paid advertising strategies should you choose? There are many different options available, from search engine marketing to social media advertising. In this article, we’ll give you an overview of the most popular paid advertising strategies, so you can make an informed decision about which one is right for your business.

What Is Paid Advertising?

Paid advertising is a form of marketing in which businesses pay to have their products or services promoted to more consumers.  There are many different types of paid advertising strategies that businesses can use, from search engine marketing to social media advertising. When deciding which type of paid advertising strategies to use for a business, it is important to consider the target audience, the products or services being offered, and other factors.

Why Do Businesses Use Paid Advertising?

There are many reasons why businesses use paid advertising, more importantly compete to use the right paid advertising strategies. One of the main reasons is that it is a great way to get their products and services in front of more consumers. Paid advertising can also be a very effective way to increase brand awareness and generate more leads and sales. Additionally, paid advertising can help businesses achieve their marketing and sales goals faster and more efficiently. Another reason businesses use paid advertising is that it can be an effective way to reach specific target audiences and demographics, and these types of ads often have a much higher conversion rate than other advertising strategies.

However, not all paid advertising strategies are created equal-there are many different options available to businesses today.

8 Different Types of Paid Advertising Strategies

To make the most of paid advertising, businesses need to carefully consider which paid advertising strategies will work best for their unique needs.

Paid Advertising Strategies #1. Search Engine Marketing or SEM

With this strategy, businesses pay to have their ads appear at the top of the search results when certain keywords are searched on platforms like Google or Bing. This can be a great way to get your products and services in front of more potential customers who are already looking for what you offer. However, it is important to choose the right keywords and create compelling ads if you want your campaign to be successful.

Paid Advertising Strategies #2. Social Media Advertising

This allows businesses to pay to have their content appear in users’ news feeds on platforms like Facebook or Instagram. This can be a great way to reach a large, targeted audience for your products or services. However, it is important to carefully target your ads to ensure that you are reaching the right audience and not wasting money on clicks from users who aren’t interested in what you have to offer.

Paid Advertising Strategies #3. Display Advertising

Which involves paying to have your ads appear on websites or apps that are related to your industry or target audience. This can be a great way to reach users who are already interested in what you offer, but it is important to carefully choose the right sites or apps and make sure that your ads don’t appear too often.

Paid Advertising Strategies #4. Native Advertising

Which is a form of paid advertising that appears to be part of the content on a site or app, rather than as an ad. This can be a great way to reach users who are more likely to pay attention to what you have to offer and convert into customers, but it is important to ensure that the ads are relevant to the site or app and do not appear too intrusive.

Paid Advertising Strategies #5. Video Advertising

This allows businesses to pay to have their ads appear before or during videos on platforms like YouTube or Facebook. This can be a great way to reach users who are more likely to watch videos and pay attention to your ad, but it is important to ensure that the videos are relevant to your products or services.

Paid Advertising Strategies #6. Paid Search

This allows businesses to pay to have their ads appear at the top of the search results on platforms like Google or Bing. This can be a great way to get your products and services in front of more potential customers who are already looking for what you offer, but it is important to choose the right keywords and create compelling ads if you want your campaign to be successful.

Paid Advertising Strategies #7. Mobile Advertising

This allows businesses to pay to have their ads appear on mobile platforms like apps or as banner ads when users are browsing other sites. This can be a great way to reach users who are more likely to shop on the go or convert into customers, but it is important to ensure that the ads are relevant and not too intrusive.

Paid Advertising Strategies #8. Dynamic Advertising

This allows businesses to target specific users with ads that are relevant to their interests or needs. This can be a great way to reach potential customers who are more likely to be interested in what you have to offer, but it is important to ensure that the ads are relevant and not too intrusive.

Which of the paid advertising strategies should you choose for your business

Paid advertising is a great way for businesses to get their products and services in front of more potential customers. However, it is important to carefully consider which paid advertising strategies will work best for your unique needs to be successful.

1. If you are selling a product or service that is searched for often, SEM may be the best strategy for you.

2. If you want to target a large, specific audience on social media platforms like Facebook or Instagram, social media advertising may be the right choice for you.

3. If you want to reach users who are already interested in your products or services and convert them into customers, display advertising may be the best option for you.

4. If you want to reach users who are more likely to see and pay attention to your ads, native advertising may be the best strategy for you.

5. If you want to reach users who are more likely to watch videos and be interested in what you have to offer, video advertising may be an effective approach.

6. If you want to get your ads in front of more potential customers who are already looking for what you offer, paid search may be the right strategy for you.

7. If you are targeting users who are more likely to shop on the go or convert into customers, mobile advertising may be a good choice.

8. Overall, there are many different types of paid advertising strategies that businesses can take advantage of, depending on their unique needs and goals. By carefully choosing the right approach and creating compelling ads, businesses can successfully reach more potential customers and grow their business.

Tips for implementing a successful paid advertising campaign

Here are a few tips for implementing a successful paid advertising campaign:

1. Define your goals

What do you want to achieve with your paid advertising campaign? Do you want to increase brand awareness, generate leads, or drive sales? Once you know what your goals are, you can choose the right strategy and platform to help you achieve them.

2. Consider your target audience

Who are you trying to reach with your ads? What are their needs and interests? When you know who your target audience is, you can create ads that are more likely to resonate with them.

3. Choose the right platform

There are a lot of different paid advertising platforms out there, from search engines to social media sites. Choose the one that will give you the most exposure to your target audience.

4. Create compelling ads

Your ads should be attention-grabbing and relevant to your target audience. If they are not, you won’t be able to achieve your goals.

5. Monitor your results

Pay attention to how your paid advertising campaign is performing. If you’re not seeing the results you want, make changes to your paid advertising strategies.

By following these tips, you can create a successful paid advertising campaign that will help you reach your goals.

Benefits of paid advertising

1. Paid advertising can help businesses reach more potential customers.

2. Paid advertising can help businesses target their audience more effectively.

3. Paid advertising can help businesses create compelling ads that resonate with their target audience.

4. Paid advertising can help businesses track the results of their campaigns and make changes as needed.

5. Paid advertising can help businesses reach users across different platforms, including search engines, social media sites, and more.

6. Paid advertising can be an effective way for businesses to compete in a crowded marketplace and stand out from the competition.

7. Overall, paid advertising offers many benefits for businesses looking to grow their customer base and increase sales. Whether you are looking to increase brand awareness, generate leads, or drive sales, paid advertising can help you achieve your goals.

When done correctly, paid advertising can be an effective way to reach more potential customers and grow your business.

Drawbacks of paid advertising

While paid advertising can be an effective way to reach more potential customers, it also has its drawbacks. Here are some of the most common ones:

1. Paid advertising can be expensive.

2. Paid advertising can be time-consuming.

3. Paid advertising can be difficult to track and measure the results.

4. Paid advertising can be disruptive and intrusive.

5. Paid advertising can be competitive.

Overall, paid advertising has its advantages and disadvantages. Businesses need to carefully consider whether it is the right choice for them, based on their goals and budget.

5 small businesses that used paid advertising strategies

1. Mad Paws is a pet sitting company that uses paid advertising to reach more customers. They have a targeted ad campaign that helps them reach more pet owners in their local area.

2. Golden Eagle Coins is a coin dealer that uses paid advertising to reach more potential customers. They have a targeted ad campaign that helps them reach more collectors and investors online.

3. The Law Offices of John Smith is a legal firm that uses paid advertising to reach more potential clients. They have a targeted ad campaign on social media sites like Facebook and Instagram, as well as search engines like Google and Bing.

4. Star Beauty is a cosmetics company that uses paid advertising to reach more customers. They have a targeted ad campaign on social media sites like Facebook and Instagram, as well as search engines like Google and Bing.

5. The Gourmet Kitchen is a cooking supplies company that uses paid advertising to reach more customers. They have a targeted ad campaign on social media sites like Facebook and Instagram, as well as search engines like Google and Bing.

5 Failed Companies to Learn From: Once a lesson, twice a mistake.

Juicero

Juicero is a juice company that used paid advertising to reach more customers. However, their ads were widely mocked and their product was eventually discontinued.

Story Behind Juicero Paid Advertising Failure

There are a few reasons why Juicero failed in paid advertising.

#1 Their target audience was not interested in their product

Juicero was a high-end juicer that cost over $400, and most people do not want to spend that much money on a juicer.

#2 Their paid advertising strategies was not very effective

They relied primarily on online advertising and did not promote their product on other channels such as television or billboard ads. Overall, Juicero’s paid advertising strategies were not well-executed and led to the company shutting down soon after it launched.

#3 They were competing with a lot of other similar products

There are many different juicers and juice subscription services on the market, which makes it difficult for any company to stand out and be successful.

Ultimately, Juicero failed because they did not have a great product that met the needs of their target audience, and their paid advertising strategies were not effective at reaching potential customers.

Toys “R” Us

Toys “R” Us is a toy company that used paid advertising to reach more customers. However, they went bankrupt in 2018 and filed for Chapter 11 bankruptcy protection.

Story Behind Toys “R” Us Paid Advertising Failure

There are a few reasons why Toys “R” Us failed in paid advertising.

#1 Target audience was not interested in their product

Toys “R” Us was a store that primarily sold toys, and the audience was not interested in the products because they felt it was too expensive and that toys should be cheaper.

#2 Their paid advertising strategies was not very effective

They relied heavily on television ads, but as more and more people started to use streaming services like Netflix, their ads became less and less effective.

FabFurnish

FabFurnish is an online furniture company that used paid advertising to reach more customers. However, they eventually had to shut down due to stiff competition from larger companies like Amazon and Ikea.

Story Behind FabFurnish Paid Advertising Failure

There are several reasons why FabFurnish, an online store that sells furniture and home decor, failed in its paid advertising strategies.

#1 The company did not accurately target its audience

FabFurnish’s ads appeared on websites that were not frequented by its target consumers-young, urbanites who are looking for stylish but affordable furniture and home decor.

#2 The company’s ads were not creative or eye-catching

#3 FabFurnish did not offer any discounts or promotions in its paid advertising

which likely deterred potential customers from clicking on the ads.

Overall, FabFurnish’s paid advertising strategies were not effective, and the company would have been better off focusing on other advertising methods, such as search engine optimization or social media marketing.

Casper

Casper is a mattress company that uses paid advertising to reach more customers, including through targeted ads on social media platforms like Facebook and Instagram. However, they have faced criticism over their ads that feature only slim models.

Story Behind Casper Paid Advertising Failure

There are a few reasons why Casper may have failed in its paid advertising efforts.

#1 Like all others did above, Casper too had trouble targeting the right audience

Casper’s products are geared towards young, urban professionals, but its paid advertising strategies may have been more focused on reaching a general audience.

#2 Unable to engage audience

Casper’s ads may not have been engaging or compelling enough to attract and keep the attention of consumers.

#3 Casper may have not allocated enough resources

It has not been alloted resource towards its paid advertising efforts, which is ultimately what led to its downfall in this area.

Regardless of the reasons why Casper failed in paid advertising, it’s crucial that businesses learn from this mistake and develops more successful paid advertising strategies.

Prenda

Prenda is an online clothing company that uses paid advertising to reach more customers, including through targeted ads on social media platforms like Facebook and Instagram. However, some critics have accused them of using sleazy marketing tactics to drive sales.

Story Behind Prenda Paid Advertising Failure

There are a few reasons why Prenda failed in paid advertising.

#1 They didn’t target the right audience (Phew, yes again!)

Though this might be the top reason, there are many ways you can mess this up!

Their ads were aimed at people who were already interested in their product, rather than at people who might not have heard of them yet.

#2 Their ads were not very effective at getting people to take an action

For example, many people saw their ads but didn’t click through to learn more about the product.

#3 They weren’t using any advanced techniques

Techniques like retargeting or A/B testing could have helped them improve the effectiveness of their paid advertising campaigns over time.

Ultimately, these factors led to a lack of success in paid advertising for Prenda.

Conclusion

Paid advertising can be a tricky business, but if you’re looking for an answer then there isn’t any other than “it depends.”

Businesses need to carefully consider which paid advertising strategies will work best for them, based on the type of product or service being offered, the target audience, and other factors. However, some general tips for success include targeting the right audience, using engaging and compelling ads, and employing advanced techniques like retargeting or A/B testing. By following these tips, businesses can reap the benefits of successful paid advertising campaigns that help them reach more customers and grow their bottom line.

And if you need help getting started, our team at 12 channels is happy to assist. So what are you waiting for? Contact us today and let us show you how paid advertising can benefit your business! You may be surprised at how well it works!