January 30, 2017
“We need to stop interrupting what people are interested in and be what people are interested in.”
– Craig Davis, co-founder and CMO of Sendle
Despite the fact that television is still the most expensive ad modality for a brand to pursue, digital media is currently pulling in $0.72 for every ad dollar spent. In 2017, this figure is expected to rise to $0.77.
As online destinations continue to skyrocket in popularity, become increasingly sophisticated, and regularly capture the attention of consumers for longer periods of time, marketers will consistently turn toward digital marketing avenues to reach audiences with their messages.
The problem for some brands, however, is that they do not know where to start in the infinite sea of advertising real estate.
If you fall into this category, prepare to receive a serious acumen boost. Here are three of the hottest and most effective ways to spend your ad budget in 2017.
1. Mobile Advertising
Many advertising pushes are invasive and unwanted; which is why 74 percent of consumers leverage ad-blocking technology.
This transition in consumer patterns has directly lead to brands increasing their mobile ad expenditure, topping out at 63 percent for 2016 with a 38 percent growth.
Mobile is one of the wisest places to invest in ad real estate because people have become more attached to their mobile products than any other device. Today, roughly two billion people are in a committed relationship with their Smartphone.
One of the most effective aspects of mobile advertising is the level of personalization that can be attained. More than that, increased targeting capabilities are implemented with mobile ads as location data pin-points users in nearby areas.
In terms of advertising on social media apps, Instagram is poised to grow in penetration (up to 47 percent by 2020), making this an appealing option.
Additionally, while Snapchat’s penetration rate will continue to remain minimal, its newly launched ad platform still has a light amount of competition so this may be a great time for brands to get a leg up on the social channel.
If neither of these platforms are ideal for your target audience, YouTube is also a fantastic place to run mobile ads. More more than half of all YouTube views come from mobile devices.
2. Social Giveaways
Giveaways, contests and sweepstakes are hugely popular on social media. The reason behind their acclaim is obvious: People love free things. This, however, is not the sole reason why these events are so favored.
More and more, audiences are seeking out interactive experiences over passive ones; and this is exactly what giveaways and other social challenges provide.
By actually engaging an audience in a fun way as opposed to force-feeding them static content, you pull followers into a deeper level of brand loyalty and enthusiasm; both of which help to further a contest’s share-ability.
As far as your ad budget is concerned, the majority will be allocated to three areas:
- A relevant prize
- A social contest platform like Rafflecopter or influencer partnerships
- Social ads to help promote the event
The prize you select is particularly important as you are after highly qualified leads. It is vital to select an offering that is only beneficial to your target audience; gifts like an iPad will draw too broad of a user base.
If you elect to partner with social influencers, bloggers, or similar personalities, this is likely where the bulk of your budget will go. On the upside, these folks will be able to get the knowledge of your contest to spread further and faster than any other means.
Options like Rafflecopter are much cheaper but are still quite effective, so they are not to be discounted as second-rate services.
And if you really want to engage your audience, consider holding a contest that incorporates user-generated content like a photo contest. Not only will this provide your company with marketing materials for future campaigns, but it will add another level of engagement to the event.
3. Influencer Marketing
Influencer marketing has made an abundance of headlines in recent years, and made many more when Google entered the fold with its acquisition of Famebit.
Google’s purchase aside, influencer marketing is truly one of the single most effective advertising modalities in the digital arena today.
Influencer platform Tapinfluence recently released a study showing that influencer marketing produces 11 times the ROI of traditional advertising methods. Moreover, a 2015 Tomoson study uncovered that influencer campaigns generate $6.50 for every $1 spent, on average.
No matter how you cut the data, influencer marketing is remarkably powerful. A large reason for that massive potential is that consumers trust influencer to far greater lengths than standard advertising practices. In fact, Twitter has revealed that people trust influencers as much as they trust their friends. The study, ran in conjunction with Annalect, which also found that 40 percent of respondents had purchased a product online after they had seen it presented by an influencer.
The bottom line here is that influencer marketing is quite possibly the best place to spend your ad budget in 2017 as the trust factor is through the roof, the ROI is phenomenal, and the modality helps brands to build long term engagement.
Digital advertising continues to soak up more and more of marketer’s budgets. As this trend continues to progress, traditional avenues like television will become all but extinct while methods such as online video content, social and mobile advertising, influencer marketing, and other popular disciplines flourish. Moreover, as digital advertising consumes ad budgets, increasingly compelling ad experiences and practices will begin to surface. 2017 might bring some of those to life.
Where do you plan on sinking your ad budget in 2017? Is influencer marketing a compelling option for your brand?
Conscious online marketer, web executive, and multi-faceted writer Tina Courtney has been creating and fostering online innovations since 1996. Tina has assisted many clients in maximizing online production and marketing efforts, and is a staff writer for SiteProNews, one of the Web’s foremost webmaster and tech news blogs. She’s produced and marketed innovative content for major players like Disney and JDate, as well as boutique startups galore, with fortes including social media, SEO, influencer marketing, community management, lead generation, and project management. Tina is also a certified Reiki practitioner, herbalist, and accomplished life coach. Learn more on LinkedIn, Facebook and Google+. Visit My Google+ Profile