Is it time to diversify where you are spending your Ad budget?
Most businesses I speak to and work with who advertise online tend to choose Google Ads as a preferred platform, and rightly so. With a massive chunk of the world's population using the tech giant's search tool every minute of every day, it would be the best place to focus.
However, there is an old saying, "don't put all your eggs in one basket," and I would apply that saying to any digital marketing strategy.
Here are three reasons why you should start thinking about diversifying your online ad budget.
Your customers don't live on one platform, and neither should you
Although customers have become reliant on Google for research and shopping, you don't want to limit yourself to one ad network. Businesses need to look at where else their target market is spending their time and shift some of their focus there. Social media platforms such as Facebook, Instagram, and YouTube are very popular among customers with 2.85 billion, 2.29 billion, and 1.38 billion active users, respectively.
If you don't have a presence on these platforms, you'll miss out on the opportunity to reach these targeted audiences.
To reduce dependency on marketing channels
Marketers and business owners depend on what advertising channels make available for their use. When using Google ads, you will be subject to the rules and regulations they set regardless of how they might affect your company.
For example, on September 1, 2020, Google announced that they would stop reporting on low-volume search terms in their Google Ads Platforms. Since then, this change has affected advertisers' marketing efforts because some of their online ad spend is unaccounted for.
Diversifying your online ad budget will allow you to explore other options where costs are low, but growth is steadily rising.
To prepare your business for future market changes
Change is the only constant, and this applies especially in the digital marketing world.
With continuous advancements in online technologies, what works today might not work later. You would be selling yourself short by advertising using Google ads only and not utilising social media ads.
If Google ads have been effective thus far, that's great, but try taking a part of your advertising budget and explore other platforms. The 80/20 is a great strategy to help you diversify your marketing efforts. 80% of your budget will continue going towards Google Ads, and 20% will be used to expand your brand on other channels.
Cross marketing can be a little bit challenging, so if you need help diversifying your marketing channels, contact me today. I help businesses create effective pay per click campaigns that can be used across multiple channels.
