Google AdWords is the most common form of online advertising
When it comes to the world of online advertising, many business owners in Australia are overwhelmed by the array of options – where to advertise, how much will it cost, what’s the likely return? There are plenty of questions and inevitable concerns.
The primary concern should be return on investment – any forward thinking business owner is willing to make an investment where a genuine opportunity exists to make a healthy return. “You have to spend money to make money,” as they saying goes – but where to spend? Advertising on Google is the most favourable, but tends to be more expensive than other search engines in most instances.
Your advertising budget will determine the extent of your online ad campaign
Whether advertising online or offline, the aim is the same – to expose your brand to the greatest percentage of your target market at a cost you can afford and ultimately at a cost that delivers a positive return on investment.
Depending on your industry, the cost of AdWords will vary considerably but a common theme is that the keywords delivering the highest keywords are the most expensive. If you have a low budget but have a deep understanding of the behaviour of your target audience, you could opt to advertise on AdWords at what you consider peak periods but unless you know something your competitors don’t then everyone will be competing for the same advertising space.
What about Facebook, Yahoo and Bing Advertising?
Google commands a reported 90+% of the online advertising market in Australia so if you opt not to advertise on Google and choose Yahoo or Bing instead, you are only advertising to less than 10% of your target audience, even if your budget lasts longer. If you do choose to advertise on Yahoo and Bing instead of Google it tends to be considerably cheaper to advertise. A more aggressive strategy is recommended for such an ad campaign so that you get as much of that 10% share as possible.
Facebook advertising is the other option for online advertisers but it has its limitations. Unlike search engines, where users are actively looking for a product or service, Facebook users are not – they are socialising so less likely to click on ads. Adverts on Facebook tend to be cheaper and while the audience is predominantly young adults, up to 25% fit into an older demographic up to 54 years old. Facebook advertisers can opt for pay-per-click or cost-per-thousand-impressions pricing models.
With Google there are also forthcoming initiatives which should form part of your consideration including Google Offers and Google Wallet, which will essentially streamline the customer transaction process and reduce the need for cash and queues in busy retail and dining outlets. This has not been launched in Australia as of yet but it is likely to be on the horizon for Australian companies.
Is there another way to advertise online?
The most cost-effective form of online advertising is a well-managed Google optimisation or SEO campaign which is geared towards ensuring you regularly appear at the top of Google search results for terms relevant to your line of business.
A more comprehensive and far reaching online campaign would make the most of all forms of online advertising especially SEO, AdWords and social media optimisation to ensure your brand reaches more of your target market on a consistent basis. When advertising online it’s important to choose your battle grounds carefully – what is your objective in the short, medium and long term? There is more to consider than the amount of money you are willing to spend.
For advice on what form of online advertising will suit your business best, call roi.com.au today on 1300 650 274!