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.
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:
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.
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.
Before diving into the tactics, it's crucial to lay the proper foundation for your paid advertising efforts. Tanner emphasizes several key elements:
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:
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."
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:
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."
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:
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.
Even with a solid strategy in place, you may encounter challenges. Here are some common roadblocks and how to overcome them:
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.
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:
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.
As you develop or refine your paid advertising strategy, keep these key points in mind:
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.
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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