Why are Online Ads Important to Grow Your Business?
The Internet has completely revolutionized how one does business. There is no iota of doubt that Online Advertising has now emerged as one of the most significant types of advertising; courtesy, it’s easy draws great traffic and provides easy monitoring and analyses. Each platform- Google Ads, Facebook Ads, Instagram Ads, YouTube Ads, LinkedIn Ads, etc. has proven in providing exposure when done correctly, leading to effective conversions.
Talking statistically, it’s expected that the digital ad spend will increase 6% over the coming year resulting in a fall of 30% ad budget in traditional media. Social media ad impressions are up 20%, year over year. It won’t surprise that 52% of brands are now discovered on social media due to their ad campaigns. Facebook ads reach 1.95 billion of the platform’s 2.5 billion monthly users. Likewise, Instagram ads get 928.5 million and counting. In the fiscal year 2020, Google India’s revenue stood at nearly 56 billion Indian rupees. The company’s overall profits in the country rose by almost 24 percent compared to the previous year. The numbers convey how online advertisements have great potential to grow a business.
Here are some other benefits of online advertising in growing the business:
- It offers a large audience
Online advertising gives you access to a global audience. This is a huge business opportunity. Large-scale audience reach can help create brand awareness, drive a large number of traffic to your website, and invite new prospective customers/clients.
- Generates Brand Awareness and leads
Online advertising helps in generating better brand awareness due to its diverse and targeted reach. It can be used to create awareness about your product, service, offer, etc., which can be later converted to lead generation.
- High return on investment
This is by far the best benefit of online advertising. Online advertisements are dominantly focused on performance-based payment, and the ROI is far better compared to traditional modes of advertising. The ROI can also be easily tracked and adjusted.
- Helps identify the target audience
Targeting audiences in offline mode of advertising is highly limited. Online advertising offers targeting audiences based upon different factors- geographic, demographics, behaviour, etc. An effective targeting strategy hence helps reach the desired audience. The audience can also be retargeted. Targeting audiences online also gives the flexibility to update/ change targeting strategy.
- Costs less than traditional forms of advertising
Online advertisements cost way less than traditional forms of advertising, which makes it an affordable option to go for. Online advertisements can reach a wider audience at a lower price than conventional forms of advertising. There are no long-term contractual commitments, and the money can be spent based upon the nature of the outcome (sales, awareness, etc.).
- Can be monitored and analyzed
Another advantage of online advertisements is their capability to be monitored and analyzed. The monitoring can help in changing or updating the advertisement strategy. Analyses prove beneficial to ascertain the value the advertisement has provided or can provide after specific changes. This helps in coming up with a better approach and catering to the right audience for the business.
These are some of the benefits of online advertisements. When done correctly, online advertisements can prove to be of great benefit to boost any business that can help adapt and evolve in a dynamic environment.
