social media

Understanding Paid Media and How It Can Benefit Your Business

by Josh Biggs in Business on 30th September 2021

Digital marketing is prompting companies to reach deep in their pockets every year for paid media campaigns in the hope of increasing sales, engaging with customers, and building brand awareness. Companies want to boost their presence in a high-traffic market to gain a competitive edge over their competitors. In addition, they want to capture the attention of their target audience before their competitors to enhance conversion opportunities.

According to digital marketers, nearly 80% of social media marketing involves paid media. Still, companies should think out of the box when it comes to their marketing campaigns to impact their paid media campaigns. 

What is paid media?

As the name suggests, paid media means occupying space on your target audience’s social media feed or online search results through paid advertisements. A digital marketing agency can help you set up ads on different platforms to ensure that your target audience recognizes your brand and visits your website to check out your products and services. As a result, it increases your chances of reaching a larger audience and engaging with prospective customers.

Why is paid media beneficial?

While earned media and owned media are two more strategies a business can implement to improve its reach, paid media offers a unique set of benefits. It allows a company to reach a broader audience through paid social media posts, ad placements, and partnering with influencers. Here are a few reasons why you should consider launching a paid media campaign for your business:

  1. Increase engagement rate with your target audience

Paid media gives you total control over who can see your ads. It allows you to optimize the ads through enhanced targeting. You can ensure that potential customers see your ads by targeting individuals who have shown interest in similar products. You can even target individuals who had engaged with similar ads in the past, thus creating a ripple effect that can benefit your business by enticing customers to try out your products.

Social media sites also use algorithms to create “for you pages” that provide product recommendations based on your preferences. You can place your brand’s ads according to these preferences and entice your audience to check out what you have in store for them.

  1. Gain more exposure

Paid media allows you to boost brand awareness by creating online brand exposure through dynamic and informative advertisements. Once you become a recognized brand, potential customers will become familiar with your company, which may be the start of a virtual relationship. The more you spend on paid media, the more relationships your company develops with potential customers, thus building a solid customer base.

  1. Boost customer retention rate

Retaining customers can boost your company’s profits in the long run. To make that happen, you need to ensure that your customers don’t forget about your brand after purchasing once from your website. The best way to ensure that is through paid media. You can set up ads that specifically target previous customers to remind them to revisit your website.

Paid media makes its way into your target audience’s online search results, and social media feeds quicker than other forms of digital marketing. This makes it an ideal option if you want to get in front of your audience as fast as possible.

Categories: Business