Bad Credit Business Tips: Be Careful How you Allocate Digital Ad Dollars
A marketing budget is a truly delicate thing. Handled roughly, it will evaporate without yielding any ROI, while if it is finessed, it can create a huge amount of return on investment. Small business owners, in particular those with bad credit, can’t afford to invest in marketing strategies that don’t bring them a return, but at the same time, many small business owners are early adopters of new marketing techniques and make them work for them with reach comparable to what corporations are able to achieve with much larger budgets. Starting out your digital marketing, many business owners first choose social media, using the fact that basic services are almost always free as a license to experiment and fine tune their message. Business owners who are looking to create leads through digital marketing will often gravitate towards PPC, or pay per click advertising through services like Google Adwords and Bing Ads. Since these ads have the potential to be highly targeted based off of locations and keywords, many small business owners feel overwhelmed by the range of options presented and therefore will outsource this task to a marketing agency. While this sounds like the “safe bet”, recently the effectiveness of this strategy has been called into question.
Ads that are not targeted are a waste of money. The biggest problem that can arise from PPC mismanagement is ads being served on search queries that have nothing to do with what the advertised product actually is. While this sounds innocent enough, if people still click through your advertisements then they will wind up costing you money, and you will be essentially paying for bounced visits. If your ads show up on enough irrelevant search terms, then you run the risk of having your PPC budget drained away in return for junk site traffic that doesn’t create business for you.
Some professional agencies have seen small businesses complain lately. As business owners become increasingly interested in claiming their share of online customers, many have turned to large corporate style marketing agencies as custodians of their advertising budgets. According to an article that recently appeared on the Wall Street Journal, this isn’t always the best idea. If an ad campaign isn’t carefully looked after, with bids adjusted, poor or overly expensive keywords removed, and attention paid to the quality of leads produced, tons of money can be spent with little to no result.
If you are wary of PPC, there are plenty of techniques you can still use. Business owners who are wary of PPC, but still want to get into digital marketing can use any number of cost effective methods for reaching their clients. Email marketing, social media promotion, and investing in SEO are all ways that you can put your brand out there and create results, and depending on your affinity for technology might be easier to manage personally as well. Digital marketing is an increasingly important piece of the marketing puzzle, but needs to be carefully managed lest costs exceed returns.
Photo Credit to Chris Potter on Flickr