When is Paid Advertising Right for You?
Paid advertising is often seen as the be all and end all of business success – and it’s true, to a degree. Paid advertising is one of those things that is the right move at the right time and not a moment sooner.
If you dive in too early, you likely won’t get the results you desire – or you’ll break the bank doing so… Instead, take a fine look at your business and ask yourself these three questions:
1. Are you marketing yourself using free methods already? And more importantly – and is it working? Now, I know you might ask why this is important if paid methods will drive that traffic for you, and the truth is if free marketing isn’t working then you likely need to re-evaluate who your market is, what they are looking for, and where you are marketing to them.
Paid marketing is solely based on knowing your target market to a “T”. You have to know where they hang out, what their interests are, and focus your ad copy and imagery to these key points. Without some serious targeting, your ads will fall flat and this happens WAY too often.
Instead of seeing free marketing as a pain in the a**, think of it as an opportunity to really get to know your target market and makes notes on what makes them tick. Do market research, track the metrics of likes, shares, etc. and get to know them on a personal level. Once you have this data at your fingertips, your paid advertising will soar, but without you are going to be fighting a steep, upward battle.
2. Successful paid advertising is a massive traffic builder, but don’t forget it also means an influx in inquiries and ultimately new clients. Are you able to manage the increase in demand for your services? Do you have systems and processes in place to simplify your business and allow you more time to focus on your beloved clients?
So often people see paid advertising as the next step in their business without evaluating if it is the right step for THEM. Make sure you are ready to take on the increased workload, beyond seeing the dollar signs. When you are ready you be able to enjoy the newfound traffic without the stress and overwhelm.
3. Do you have the budget and time to maintain consistent paid advertising? Paid advertising is often seen as the automated client machine, but it’s far from that. Paid advertising takes time to put together, even more time to maintain and the budget is nothing to bat an eye at! Some big name online businesses spend THOUSANDS of dollars on paid advertising each month, and that doesn’t include their costs to maintain their campaigns.
Did you know that campaigns have to be strategically tested, tweaked, and scaled in order to produce the desired results? Depending on the scale of the campaign, this can takes anywhere from days to weeks to months to complete. It is a whole new world of marketing and it takes some strategy and financial backing to successfully get off the ground without wasting your precious time and money.
Did you say, “Yes!” to all 3 of these key points? Then congratulations! You are ready to take the first step into paid advertising.
Not quite ready? That’s nothing to be ashamed of! Take a step back and evaluate the steps you need to take to fully prepare yourself. Once you make it a to-do list rather than making this an unknown adventure, you will more be more confident in your approach. In doing so, you will make the whole journey WAY more enjoyable and, ultimately, more profitable.
Have you dipped your toes into the world of paid advertising? How did it work for you and were there any lessons you learned along the way?