As the owner of a business, you know that continual growth is crucial to your company’s success. Paid media advertising is one of the tried-and-true ways to expand your customer base and increase revenue. In today’s crowded media market, the stakes are too high to leave these decisions to chance. But how do you know which types of paid media buying are going to improve your ROI and result in high conversion rates?
A trusted, effective marketing partner won’t simply assist you with paid media buying. It will perform data analysis of ROI and conversion rates and measure brand awareness to show you which channels and strategies are performing.
Once upon a time, paid media buying was primarily TV and radio. Today, it centers around ad placement on search engines, social media, websites, other digital properties, and OTT buying.
“Over the Top” Paid Media Buying
OTT, which stands for “Over the Top,” refers to media that consumers access through connected TVs and other devices used to stream their favorite shows and movies. Platforms include Hulu, ESPN+, Peacock, and more.
Subscription and OTT video ad spending is expected to reach almost $10 billion and account for 34% of all digital ad spending by the end of 2023. And with good reason! OTT allows you to target your ads so they play only in front of the right audience at the right time, making them more likely to recognize and engage with your brand.
To measure OTT ads’ success, you can evaluate website traffic and click-through rates (CTR), which refers to the average rate at which people click through links to your website. Google Analytics can tell you when there is increased traffic compared to when you ran your OTT ads. A boost in website traffic following the launch of your OTT ads is a sign that your OTT ads are working for you!
Staying Connected with Social Media Advertising
There’s no doubt that social media advertising is a crucial part of any business’s digital ad strategy. In 2021, worldwide social media advertising revenue was $153 billion and is expected to grow to over $252 billion in 2026. Marketers report that social media accounts for 15 percent of their marketing budgets.
Judging by the fact that 54% of internet users turn to social media to research products, investing in social media advertising is money well spent.
But as always, you must get the most “bang for your buck.” An experienced digital ad agency like Lincoln Digital will help you research to get to know your audience and create content, such as videos, that boost engagement to maximize your ROI and conversion rates.
Data Analysis with SEM
SEM, also referred to as paid-per-click (PPC) marketing, is a powerful tool to reach new customers and gain traction in a crowded marketplace. SEM includes paid and organic efforts to increase your visibility in search results. This marketing tool helps drive more consumers to your website and is especially effective for local businesses.
More and more consumers are researching and shopping for products online, so SEM has become an essential tool to increase your reach. Impactful SEM marketing campaigns start with collaborating with your marketing partner to identify your goals, key performance indicators, and a reporting process.
Improve Your Conversion Rates with Help from West Palm Beach Digital Marketing Experts
Lincoln Digital was founded in 2013 to provide high-quality digital marketing agency services and proven approaches to growth for West Palm Beach businesses.
Our services include:
- Consumer marketing
- Attribution and analytics
- Media buying
- Creative services
- Web development