The world of paid Ads is a changing landscape with many subtle techniques to improve performance. The overall goal is to engage as many individuals as possible with the least amount spent on advertising to produce the most return on investment for the business. Since algorithms and user preference change constantly, it’s important to stay up to date on trends and best practices in the industry. Here are 3 keys to follow when trying to reduce your spend on paid advertising.
- Target specific audiences!
All too often, not enough research is done from an internal and external perspective on an advertising platform to better target and reduce waste. Not only do you need to do the research when it comes to your user preferences but you also need to understand the advertising platform and the targeting capabilities available to you. It’s better to have more audiences and targeting segments to choose from at a very granular level than to have broad stroke targeting since you will be able to measure and understand behavior more effectively and reduce spend in areas that you may not really want to target. Instead of worrying about “missing” some available eyeballs, focus on capturing the users who you know are your highest probability engagement and work your way backwards. This will ensure you’re reaching your best possible customer first, spend the money effectively to reach them and then you broaden your approach as you learn more about your audience.
- Focus on location targeting!
In the same way you’ve made adjustments and targeting specific verticals instead of every man, woman and child on planet earth, make sure you consider location targeting in your approach as well, this could be as simple as limiting your campaigns to North America or getting as granular as entering zip codes on a platform like Facebook. Consider who your buyers or consumers are and what is important to them. From there, you can focus on what regions they are most likely to engage a social platform and what is your high traffic regions. Location targeting is critical in A/B testing and you may want to cut up different regions of the country or location you’re looking to target to get even more data about your audience.
- Reach customers at the right time!
Another critical method to employ to reduce wasted ad spend is to target your customers when it is most likely that they will engage with your content and your message. Many advertising platforms let you target by time as well as location and you should consider that not all times are equal for your customers when running Ads. If your audience tends to engage with your message in a preferred time slot, make sure you’re only running your ads in that block. This is one of the most effective ways to reduce unnecessary spend. Sure you may lose out on a few users over time, but the likelihood that they will also engage in that preferred time slot is high and allows you to manage your spend to attract customers in the best time slot possible.
If you’re ready to create Ads and drive ROI, we can help! Reach out to me at email@example.com. I look forward to helping you reach your target customers more effectively in the digital space!