Surprisingly, most people still think of advertising as mostly television commercials, radio ads, direct mail, and flyers. Today, marketing and advertising join forces, morphing into a digital model that has taken on many different forms, including:<\/p>\n
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- Digital display ads<\/li>\n
- Social media ads<\/li>\n
- Paid search marketing<\/li>\n
- Native ads<\/li>\n
- Retargeting<\/li>\n
- Video ads<\/li>\n<\/ul>\n
Read on to learn about the different advertising options available to companies today, the pros and cons of each option, and a general explanation of costs (if it can be generalized). This article can serve as a guide for companies that want to advertise but aren\u2019t sure of how to allocate their budget.<\/p>\n
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<\/img><\/p>\nThe Current State of Affairs<\/h2>\n
Before we dissect every type of digital ad, let\u2019s take a step back and see what\u2019s going on in the industry.<\/p>\n
Digital ad spending was projected to hit $333.25 billion<\/a> by the end of 2019. It will likely surpass 50 per cent of the global ad market for the very first time in its history. Experts predict that by 2023, digital ads will be dominating traditional advertising by owning 60 per cent of the global ad market. Google will keep its crown as the world\u2019s largest digital ad seller in 2019 with 31.1 per cent of worldwide ad spending, which translates to $103.73 billion. Facebook is breathing down the search engine\u2019s neck, boasting $67.37 billion in net ad revenues \u2014 which is impressive, considering its billion-dollar acquisition of Instagram<\/a> in 2012.<\/p>\n
Let\u2019s take a look at more thought-provoking numbers.<\/p>\n
As video content is becoming more influential, the big trinity \u2014 Google, YouTube, and Facebook \u2014 seem to control the digital advertising cosmos by gripping 66 per cent of digital ad spend<\/a>. The expansion of these channels is impressive, as they represent 63 per cent of total ad spend in North America. <\/p>\n
Another number that indicates the popularity of video content is that 65 per cent of companies boosted their video advertising in the last year. As new tech adoption penetrates consumers\u2019 lives, advertisers are trying their hand at reaching audiences in new and unique ways. In fact, 44 per cent of advertisers<\/a> are currently using smart TV technology to connect with their consumers, and 39 per cent make use of virtual assistants<\/a> to get closer to their audience.<\/p>\n
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<\/img><\/p>\nDigital Marketing Ad Types<\/h2>\n
Advertising works best when your brand can meet your customers anywhere they are. A modern consumer, regardless of whether they represent a business, interacts with your brand across various channels and devices. Those interactions need to be personalized and to appear at the right place and at the right time.<\/p>\n
Digital ads come in all shapes and sizes and allow you to instantly reach your audience and expand your brand presence.<\/p>\n
Display Ads<\/h3>\n
Display ads are shown to users on sites that are part of the same advertising network. One of the most prominent display networks is, unsurprisingly, run by Google. These ads come in an array of formats, including text, images, video, and Flash, and can be used in two primary ways:<\/p>\n
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- To attract new leads<\/li>\n
- For remarketing and retargeting<\/li>\n<\/ul>\n
With the rise of the banner blindness<\/a> phenomenon, in which \u201cusers have learned to ignore content that resembles ads, is close to ads, or appears in locations traditionally dedicated to ads,\u201d display ads are giving way to other digital advertising formats. <\/p>\n
Pros<\/b><\/p>\n
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- One of the cheapest means of digital advertising, as it\u2019s based on cost per impression<\/li>\n
- You can hand-pick the sites where you want your ads to be displayed. You can even reach out to site owners and ask to place your banners on pages that feature content that is relevant to your product or service.<\/li>\n<\/ul>\n
Cons<\/b><\/p>\n
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- Banner blindness and ad blockers are very hard to combat. <\/li>\n
- To get the best spots, you need to be very proactive with your bidding. You can be outbid at any moment and your rivals\u2019 ads will be shown instead of yours.<\/li>\n<\/ul>\n
Social Media Ads<\/h3>\n
You are likely familiar with the most popular social media platforms<\/a>.<\/p>\n
Facebook<\/h4>\n
Facebook is a powerful social network, regardless of its recent security snafu<\/a>. The key is to find a balance between offering content that will strengthen your brand with content that\u2019s fun or interesting enough for your audience to share with their friends. <\/p>\n
YouTube<\/h4>\n
As attention spans toward advertising shorten, videos are gaining in popularity. YouTube has a few ad types on its menu. In-stream ads are shown to a viewer before the actual video starts. In-search and in-display ads come up directly in the platform\u2019s search results as recommended videos. In-video overlay ads are banners that show up at the bottom of the streaming video. <\/p>\n
Instagram<\/h4>\n
A picture is worth a thousand words \u2014 or impressions. To run a successful Instagram ad, you need to make it look organic and do your audience research to make sure it fits seamlessly into the user\u2019s feed. <\/p>\n
Twitter<\/h4>\n
Similar to Facebook, Twitter offers highly customizable and targeted advertising options. For example, promoted tweets are a form of paid ads that will show up in feeds of users who fit your criteria. <\/p>\n
In Canada, Facebook is the most popular social media platform<\/a>, so using social media ads on that site may be your best bet. However, you\u2019ll only know what works after trial and error. After all, your ads on Instagram may have better conversions, even though it\u2019s not as popular as some of the other platforms.<\/p>\n
Pros<\/b><\/p>\n
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- It\u2019s easy to set up a campaign. No in-depth knowledge is required.<\/li>\n
- Your users spend a lot of their time on social media. Social media penetration is at record levels. <\/li>\n
- For brands that have already established communities on their target social platforms, the cost of running ads is lower.<\/li>\n
- Some social networks allow you to target a particular group of users. For instance, on Facebook, you can build a lookalike audience based on the profiles of your current customers. <\/li>\n<\/ul>\n
Cons<\/b><\/p>\n
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- Despite such a relatively easy ad creation process, some platforms are incredibly particular about ad formatting. Facebook asks for a featured image that must be a certain size. There\u2019s also a limited amount of text you can display<\/a> \u2013 no more than 125 characters. Repeated failure to comply with these rules may permanently end your advertising endeavors on Facebook.<\/li>\n
- Even though you can target a very specific audience, doing so won\u2019t necessarily earn you new leads. Advertising either supports your brand awareness or helps you find those users who have already visited your site. <\/li>\n<\/ul>\n
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<\/img><\/p>\nPaid Search Marketing<\/h3>\n
- Even though you can target a very specific audience, doing so won\u2019t necessarily earn you new leads. Advertising either supports your brand awareness or helps you find those users who have already visited your site. <\/li>\n<\/ul>\n
- Despite such a relatively easy ad creation process, some platforms are incredibly particular about ad formatting. Facebook asks for a featured image that must be a certain size. There\u2019s also a limited amount of text you can display<\/a> \u2013 no more than 125 characters. Repeated failure to comply with these rules may permanently end your advertising endeavors on Facebook.<\/li>\n