Online Paid Ads – Are They Worth It?

online paid advertisingYou’ve probably heard the horror stories of businesses that lost hundreds on poorly managed online ad campaigns, but paid advertising doesn’t have to end this way. When run with care, online paid ads can be a cost-effective source of leads.

Get the Channel Right

As with any type of advertising, the success of your ad depends on where you publish it. You’ll get the best results by placing your ads where you know your prospects spend time. Finding a targeted, engaged audience is more important than gaining wide exposure. Ads on a website or email list focused on your specialty, such as home renovation or commercial property investment, can be well worth it.

Where niche businesses often go wrong is by taking out ads on sites with huge, but broad readerships. Ads like these cost a bundle, yet they reach few people who are interested in what’s being offered. On sites that require bidding on keywords, choosing general terms such as “construction contractor” can also blow through your budget fast with little result. Google Adsense, Facebook Ads, and similar options work best with specific targeting of keywords, demographics, interests, and other factors the channel allows you to define.

Set Realistic Goals

Another way businesses lose money on online paid ads is by failing to set a specific, realistic goal for each ad. Anything from a short ad to a full-length paid blog post can bring in warm leads, but can’t instantly convert someone who’s never heard of you into a client. Just displaying your company’s name and logo is unlikely to bring you any leads at all.

Think from your prospects’ perspective and offer them an incentive to take a small step towards getting to know your firm. That might be signing up for your email list, downloading one of your lead magnets or contacting you to schedule a strategy session. Once you have their contact information, you can nurture these leads until they trust you and are ready to do business.

For more guidance on running profitable online paid ads, contact us at Construction Monitor.

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