Digital ads allow you to work smarter, compete at a larger scale, control your ad costs more efficiently, and create a greater return on investment of your marketing budget.
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Digital Ad Stats To Know
- The total amount of money spent on digital ads has been rising over the years, even though the rate of increase has fallen slightly. Experts predict that over the next two years, this spending will increase by a staggering $75 billion. Source
- Statistics about small and medium businesses show that the most competitive PPC keywords relate to the financial and legal industries, as well as insurance services. These types of businesses spend more than $1.2 billion per year in PPC advertising on Google. Source
- Google and Facebook still hold the largest share of total U.S. digital ad spending, with 37.2% and 19.6% respectively. Source
- Average advertising costs for small business operations that use Google Ads as part of their online advertising strategy are between $9,000 and $10,000 per month.
- Social media advertising budgets doubled worldwide, from $16 billion in 2014 to $31 billion in 2016.
How Digital Advertising Has Changed
Digital advertising budgets have increased year over year for the last decade. It was calculated that the total advertising expenditure in North America in 2019 amounted to 253.6 billion U.S. dollars.If you follow the money the largest advertisers have steadily moved their advertising spending away from print, radio, and television over the last few years. As digital ads campaigns prove to be easier to track the value of ads and new strategies evolve allowing for the ad campaigns to improve over time, they have seen their budgets increase.
The Top 5 Goals of Digital Advertising
Promote Your Brand
Create Larger ROI
Control Ad Costs
Have you ever looked at a pair of shoes on an eCommerce site? Did you notice an image or advertisement of those shoes following you around as you went to other websites? If you have consider yourself re-targeted. Why are re-targeting ads so popular? A certain percentage of your website visitors leave without buying. Customers may be distracted while browsing, they may need some time to think, or they are researching several options before getting a price. The goal of a re-targeting ad is to place your product, message, or brand in front of potential customers to keep your business “top of mind”.
Advice From The Professionals
" There was a time that for most small businesses their number 1 source of acquiring new business was to place an advertisement in the local phone book. Think about this, they would pay a ton of money for an ad in a book that they hoped someone would open and select them. There was no data to track, you couldn’t edit the ad to make it better at converting into calls, and the book went out to everyone so your ad cost included all the people that had zero chance of ever buying the advertisers product or service. Even worse over time the larger companies were able to acquire the largest spaces and price out the competition. With digital ads you can track your data to improve your campaigns and you can make sure your ad is only in front of real potential customers."