About this Episode
As a business owner or marketing leader, you’ve likely thought about trying paid advertising, or have tried it and gotten disappointing results. You know it can be useful for growth, but the “how” can feel overwhelming. How much should you spend? Which platforms should you use? And most importantly, how can you ensure your investment pays off?
At IMPACT, we understand these challenges. That’s why we sat down with Tanner Holman, our Swell Team’s Paid Social Strategist, to demystify the world of paid advertising and share insights that can help your business thrive. Whether you’re a seasoned advertiser or just dipping your toes into the paid media pool, this article will provide valuable insights to guide your strategy.
The Paid Advertising Dilemma
If you’re like most business owners, you’ve probably experienced the frustration of throwing money at paid ads without seeing the results you hoped for. Maybe you’ve even wondered if it’s worth the investment at all. You’re not alone. Many businesses struggle to navigate the complexities of paid advertising, often falling into common pitfalls:
Expecting instant results
Focusing on the wrong metrics
Neglecting the customer journey
Failing to align paid efforts with overall marketing strategy
These challenges can leave you feeling like you’re shouting into the void, wasting precious resources without moving the needle for your business. But it doesn’t have to be this way.
Shifting Your Paid Advertising Mindset
The first step to success in paid advertising is shifting your mindset. As Tanner explains, “Ads aren’t a business-only result. The thing that people miss most in this equation is the customer, the potential customer.”
This perspective aligns perfectly with IMPACT’s philosophy of building trust and providing value. Paid advertising isn’t about bombarding potential customers with sales pitches; it’s about meeting them where they are in their journey and providing the information they need to make informed decisions.
The Foundation of Effective Paid Advertising
Before diving into the tactics, it’s crucial to lay the proper foundation for your paid advertising efforts. Tanner emphasizes several key elements:
Know Your Customer: Understanding your audience is paramount. What motivates them? What problems are they trying to solve? Where are they in their buying journey?
Align Your Teams: Ensure your marketing and sales teams are on the same page. The messaging in your ads should align with what customers experience when they interact with your sales team.
Set Clear Goals: Are you looking to increase brand awareness, generate leads, or drive direct sales? Your goals will dictate your strategy and metrics.
Prepare Your Infrastructure: Make sure your website, landing pages, and conversion paths are optimized before driving traffic to them.
The Customer Journey and Paid Advertising
One of the biggest mistakes businesses make is trying to take their audience from zero to 100 in a single ad. As Tanner humorously puts it, “You’re asking them to marry you on the first date.”
Instead, think of paid advertising as a tool to nurture relationships over time. Here’s how you can align your paid efforts with the customer journey:
Awareness Stage: Use platforms like Facebook and Instagram to introduce your brand and provide valuable content. Focus on reach and frequency rather than immediate conversions.
Consideration Stage: Leverage platforms like Google Ads to capture users actively searching for solutions. Provide more detailed information and comparisons.
Decision Stage: Use retargeting to re-engage users who have shown interest. This is where you can be more direct with your offers and calls-to-action.
Remember, as Tanner notes, “Very rarely is there going to be a circumstance where I run an ad to an audience, it’s the first time they’re seeing it, and we’re asking them to buy in that moment.”
Choosing the Right Platforms and Budget
When it comes to selecting platforms and setting budgets, there’s no one-size-fits-all approach. Tanner advises, “What are you trying to make happen? Are you trying to make a profit on a specific product? Are you trying to get more lead volume? Are you trying to become a thought leader in your industry?”
Your goals, target audience, and budget will determine the best platforms for your business. Here are some general guidelines:
Google Ads: Ideal for capturing high-intent users actively searching for your products or services.
Facebook/Instagram: Great for brand awareness and engaging users earlier in the buying journey.
LinkedIn: Excellent for B2B companies and thought leadership content.
As for budget, Tanner emphasizes that it’s less about a specific dollar amount and more about consistency and patience. “If you only have the budget or the patience to run ads for one month, don’t run ads,” he advises. “Save the money, save your time, save your headaches until you can come back and have that follow-through on consistency.”
Measuring Success: Beyond Clicks and Impressions
While metrics like clicks and impressions have their place, they don’t tell the whole story. Tanner recommends focusing on metrics that align with your specific goals:
Reach and Frequency: For brand awareness campaigns, focus on how many unique users you’re reaching and how often they’re seeing your message.
Engagement Rate: Look at how users are interacting with your content beyond just clicking.
Conversion Rate: Track how many users are taking desired actions on your site after clicking an ad.
Customer Lifetime Value: Consider the long-term value of customers acquired through paid advertising, not just the initial purchase.
Remember, as Tanner points out, “Data is king. Data doesn’t lie.” Regularly analyze your results and be prepared to adjust your strategy based on what the data tells you.
Overcoming Common Roadblocks
Even with a solid strategy in place, you may encounter challenges. Here are some common roadblocks and how to overcome them:
Lack of Immediate Results: Remember that building trust takes time. Focus on providing value and nurturing relationships rather than pushing for immediate sales.
Ad Fatigue: Regularly refresh your ad creative and messaging to prevent audience burnout.
Platform Changes: Stay informed about updates to advertising platforms and be prepared to adapt your strategy accordingly.
Misalignment with Sales: Ensure your sales team is prepared to handle leads generated through paid advertising and that their messaging aligns with your ad content.
The Role of AI in Paid Advertising
As artificial intelligence continues to evolve, you might wonder about its impact on paid advertising. While AI can be a powerful tool for data analysis and creative ideation, Tanner emphasizes that human strategy remains crucial:
“I leverage AI almost daily in the ad space… But I don’t think that we’re in a situation right now where AI is going to replace paid ads because there’s so many nuances that are unique to business.”
AI can help streamline processes and provide insights, but it’s the human touch that translates those insights into effective strategies aligned with your unique business goals.
Case Study: Transforming a Fragmented Approach
Tanner shared a compelling example of how a strategic approach to paid advertising can transform results:
“We started with a client probably about a year ago, a very well-established business, arguably one of the top businesses in their industry. However their marketing was very fragmented.”
Tanner’s team took the following approach:
Conducted a thorough audit of existing campaigns
Identified the target audience and their motivations
Developed a cohesive messaging strategy across all products
Created campaigns tailored to different stages of the customer journey
Continuously analyzed data and optimized for performance
The result? Increased opportunities through both paid and organic channels, improved feedback from sales and operations teams, and ultimately, a boost in revenue that could be directly attributed to their refined paid advertising strategy.
Key Takeaways for Your Paid Advertising Strategy
As you develop or refine your paid advertising strategy, keep these key points in mind:
Focus on Building Relationships: Approach paid advertising as a tool for nurturing relationships, not just driving immediate sales.
Align with the Customer Journey: Create campaigns that speak to customers at different stages, from awareness to decision.
Prioritize Consistency: Be prepared to invest time and resources consistently, rather than expecting overnight success.
Leverage Data: Regularly analyze your results and be willing to adjust your strategy based on what the data tells you.
Keep the Human Element: While AI and automation have their place, remember that effective paid advertising requires human insight and strategy.
Stay Patient and Persistent: As Tanner emphasizes, “It’s very rarely the first go that you’re going to find success. It’s constant optimization and iteration.”
By embracing these principles, you can create a paid advertising strategy that not only drives results but also builds lasting relationships with your customers. Remember, at its core, paid advertising is about connecting with real people and providing value. As Tanner wisely notes, “You’re not going to ask someone to marry you on the first date. You’re going to start to build that trust, build that relationship.”
Ready to take your paid advertising to the next level? Let’s continue the conversation and explore how Swell by IMPACT can help you achieve your business goals through strategic, trust-building paid advertising campaigns.
Connect with Tanner
Tanner Holman is a Paid Social Strategist at Swell by IMPACT. He’s a master of everything Google and Meta, and has a passion for locally owned businesses.
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