The Importance of Paid Advertising: How can Businesses Effectively Measure their Campaign Success using Real-Time Data
It is no secret that digital has drastically changed the advertising industry, in which more and more marketers are making the switch to paid advertising due to its ability to track performance & spend in real-time compared to traditional channels.
With the increase in access to different social media channels, people are being consumed with high amounts of content every day, so it may take something special to grab their attention.
So, what actually is paid advertising?
Paid advertising on digital is typically used by companies to attract prospects through paying for advertising space on search, social media or displayed on other websites.
Some different types of paid advertising methods:
Paid Search: Allows websites to appear at the top of search, it naturally places a website above organic results for certain keywords.
Social media advertising: Allows companies to place ads on social media platforms to reach their target audience.
Banner advertisements: Similar to a header or footer, they allow a company to insert their banner at the top, bottom or sides of webpages.
Native advertisements: Empowers businesses to run ads on other websites that have a similar look and feel to the content on their own site.
Thanks to the targeting capabilities of paid advertising, you will be able to reach your target audience more efficiently, thus increasing your awareness and desired conversion.
According to Statista, ad spending in the Social Media Advertising segment is projected to reach US$226.00bn in 2022. Companies thought well, as over 4.26 billion people were using social media worldwide in 2021, a number projected to increase to almost six billion in 2027.
Moreover, government agencies are also big spenders; if you look closely you will see that some of them spent more than McDonald’s or even Toyota. The budget towards media placement expenditure in 2018-2019 for the Commonwealth, Victorian, NSW, and Queensland Governments was massive according to the Financial Review.
Therefore, you are missing out on an opportunity against your competitors if you are not already using paid advertising.
Then what's the roadblock?
When generating paid advertisement reports, many companies find they are having to wait an extended amount of time to receive their data from their agency partner. Not to mention without receiving the direct API links, the access to all of the data and metrics is unavailable.
At KINSHIP digital, we provide customised advertising setups to allow customers to create, manage and report on the performance of their brand’s paid social media advertising.
By using a customised advertising Sprinklr instance, organisations are able to gain real-time insights into the performance of their advertising campaigns to shift or pivot throughout the campaign's lifetime. This is also available with notifications of alerts and reporting, allowing businesses to respond to citizens and mitigate risks by squashing misinformation ad disinformation in a timely manner.
Through understanding how the target audience engages with the digital campaign, learnings such as the best performing creative and copy can be applied to traditional channels such as print.
Sprinklr's built-in Artificial intelligence also allows to assist with the creation and management of a brands active campaign to ensure the highest return on investment for every ad posted through the platform.
To learn more about paid advertising and other digital solutions contact us today!