It becomes quite a job to compete with so many businesses that have recently sprouted up in the virtual universe. Without the requirement of a job location and workspace, it is comparatively easy to conduct a job online.
You have to continually make sure that you are ahead of the rest of your competitors. Failing to do so will put you so far behind, that it will be difficult to get the company back on its feet again.
There are many different ways by which you can ensure that your business remains in the running. This article discusses how you can increase the quality and quantity of traffic on your website with the help of paid media.
You must have noticed how advertisements pop up or remain on the screen while you are reading an article that is completely unrelated to the distracting ad.
This is known as paid media. It works when a business pays another so that the former’s services and products are advertised on the latter’s page. These are hard to miss and catch the eye of the reader, causing them to click on the ad link and visit their website.
What are the different types of paid media?
There are different types of paid media to choose from. You can choose a type that will benefit your business and reach the kind of crowd that you are aiming for.
Paid social media
An ad must have interrupted you while you were aimlessly scrolling through Facebook. Any advertisement that appears on a social media platform is known as paid media.
The younger generations crowd around most social media platforms. Hence, if your goal is to reach out to this audience, then buying a space on a social platform will give you a rise in profit.
If you swipe through Instagram stories, you will find sponsored ads in between. You can also pay social media influencers to advertise your brand and its products. An influencer with many followers will have an enormous effect on the crowd.
Search engine ads
Ads that appear on your screen when you look for something on the internet with the help of search engines are known as search engine ads. They are charged a bit differently from other paid media.
Pay per click or PPC is one way of charging for advertisements. As the name implies, you are only charged for it when a user clicks on the ad that will direct them to your website. If not, the ad is simply displayed on the page without any additional cost that you have to pay.
In retrospect, it is a great advantage for your business considering how you have to pay for the media only when you have gained traffic. But, make sure that the cost does not overpower your profit.
Search engines keep tabs on your searches. You may have noticed that sometimes an ad pops up on your browser page with information about something that you were recently searching for.
Your business will be charged every time an ad related to your website appears on a user’s webpage. This method is known as pay per impression or PPI.
You can book a permanent spot for your advertisement on a well-known website’s page, so that every time someone surfs through that page, they will be greeted with an ad of your business.
Banner ads are visual and sometimes consist of GIFs. They are charged differently. The number of times a user clicks on the ad to visit the website they are directed to, divided by the number of ad impressions gives the click-through ratio.
The main purpose of an advertisement is to stand out to grab the attention of the reader. But, native ads completely beat that purpose because they do the exact opposite of getting highlighted.
The ads that you will find completely blended in with their background are known as native ads. When you pay a popular site to advertise your brand, they design your ad pictures or videos in such a way that they completely match the look of the website you will be paying for.
Native ads have proven to be more profitable than other types of paid media. They have the advantage of not coming off as annoying or spam. They have more chances of catching someone’s eye because of not looking as if they are out of place.
OOH and DOOH
OOH are traditional methods of advertising which are still in use. OOH, or out-of-home advertising is when you are met with huge billboards and posters as soon as you step out of the house.
OOH can also be used on a small scale in the form of pamphlets and booklets. They were immensely popular in the past and still are to some extent. There was a time when OOH was the only way you could come to terms with different products and services.
As the world has gone digital, so has OOH and has given rise to DOOH, which expands to digital out-of-home advertising. It follows the traditional rule of advertising with a simple catch.
The advertisements are no longer restricted to paper and still pictures. Instead, they are perceived to be moving in the form of videos which are sometimes accompanied by sound.
DOOH is also made attractive by decorating the posters and billboards with different colored lights. They are bound to make you notice them. Digitized advertising can also be found in shops and other places.
What is the difference between paid, earned, and owned media?
We have already discussed what paid media is all about. But to understand what is best for your business, you need to have a brief idea about other forms of media as well.
If your brand has made quite a name of its own in the virtual world, then you do not need to pay for its advertisement. Instead, other websites or influencers may do it of their own accord.
These are spaces that are owned by your company. Therefore, you do not need to pay to advertise your products on such pages or websites.