One of the ways you can increase your ad investments is to lower its costs. However, this is easier said than done. Lowering ad costs can affect your campaign performance which could be bad for your business in the long run.
Pricing models
You can avoid this problem by learning about the different pricing models and costs among advertising platforms. Since each platform has a different audience and use, your strategies shouldn’t be a replica of one another.
There are different ways Ad Manager platforms charge for digital ads. A few of them include:
- Cost Per Click – you pay whenever someone clicks on your ad
- Cost Per Thousand Impressions – you pay for a thousand ad impressions
- Cost Per Acquisition – you pay whenever there’s a conversion you set
For a more in-depth discussion on this, check out this guide on ad metrics.
Maximizing your ad cost
Understand both the fundamental and specific differences between platforms
Digital ads are shortcuts for your customers so you can take them from one stage of the marketing funnel to another. You can only do this if they’re willing to be led on to the next stage. To make that happen, it’s important to understand your audience’s psyche and where they are in the customer journey.
Audiences have different needs and desires, especially among ad platforms. You can adjust your budget, strategies, and copies according to their needs and streamline conversion.
There are also specific differences in setting up your ads on each platform. Having an ads specialist instead of a generalist is key to setting up campaigns that generate the best results for your business.
Utilize your best performing platform
The best thing about digital advertising is that you pay for results. Google Ads Manager, for example, only charges whenever a potential customer clicks on your ad or visits your website. You get your allocated budget’s worth because these are the leads who are more likely to convert.
So utilizing your best converting ad platform to garner as many of these customers as possible is a no-brainer. Allocating a higher budget for these top platforms can be worthwhile since this constant growth in new business can help scale your company.
Adjust your budget according to need
There are times when you need to lower or increase your budget to get the most out of your campaigns. For example, holiday sales and back-to-school seasons are prime events where learners are more receptive to subscribing to courses and programs.
Having higher visibility during these times can increase your sales. You miss growth opportunities if you don’t take advantage of this, especially since it doesn’t take tremendous effort to adjust your ad setup to suit the occasion.
Lowering your ad spend during low seasons can also help save your marketing dollars which can be better off spent in other areas depending on your vision. Remember that the most beneficial thing you can do is to have proper strategies in place for when there’s a need to increase your budget, switch keywords, or do other money-making marketing solutions.
Create ads that generate profits and double your enrollments today. Grow Enrollments specializes in SEM, Display, Youtube, CRO, and Facebook advertising in the education and eLearning space.
