With the current state of the economy, many companies are becoming increasingly hesitant to spend their budgets on new marketing channels. However, there is one channel that companies can try that tends to offer a strong return on investment. Digital advertising is a great opportunity for many businesses to reach more leads and for an affordable price. Let’s take a look at how employing a digital advertising strategy can help you to bring in more business without breaking the bank.

What is Digital Advertising and Is It Affordable?

Digital ads are placed on websites, blogs, social media sites and mobile applications. They may be used to promote products or services, or they may be used to generate leads for sales teams.

It’s easy to get started with digital advertising. You just choose a platform (such as Google Ads or Bing Ads) and enter some basic information about your business. The platform will then generate ads for you based on your criteria, or you can create your own. Digital ads are usually less expensive than traditional forms of advertising because they’re more efficient — it costs less to place an ad online than on television or in print magazines. However, the cost varies depending on what type of platform you use and how much traffic the site gets. 

Which Platforms Offer The Best ROI?

Digital advertising is the most effective way to reach your audience. It’s a direct connection between your business and your customers, and it has the power to help you meet your goals. But with so many options available, how do you decide which ones are going to give you the best ROI?

The answer lies in understanding what kind of return you’re looking for and what platforms will deliver that for you. The following are some of the most popular digital platforms and why they make sense for small businesses:

Google Ads

Google Ads offers advertisers the ability to target specific audiences based on location, search history, demographics and more. It also allows businesses to use keywords that are relevant to their products or services and enables them to set daily budgets based on how much they’re willing to spend. Advertisers can also choose whether they want their ads to appear on mobile devices or desktop computers, which can help them target users more effectively at different points in their buying cycle.

Facebook Ads

Facebook ads allow advertisers to reach specific audiences based on demographics (age range), interests (activities), behaviors (purchases) and more by combining these targeting options through an ad creation tool called Power Editor. These ads are also cost effective ranging from $0.50 – $3.00 in most cases depending on your targeting.

How Expensive Is It To Do Digital Advertising?

The cost of Google ads depends on the type of ad you want to run and how many people you want to reach. For example, if you want to run an image-based text ad on Google, it will cost you $2.50 per click on average. But, if you want to run video ads on YouTube, it will cost you $5 per view or $15 for 30 seconds of video time. So the different types of ads are important to keep in mind when trying to measure your potential ROI.

Facebook ads are also very affordable when compared to other marketing channels such as print and TV ads where costs can easily get into five figures. Facebook ads typically cost around $0.50 – $1.50 every thousand impressions. This is very affordable and allows for plenty of people to see your ad. 

The Takeaway

The main point is that digital advertising, when done correctly, can provide you with a great ROI for your marketing efforts. By picking out the campaign types that cost the least but give you the best targeting options, you’ll be in a great position to reach more qualified leads and for a fraction of the cost of a TV or print ad.