Paid advertising refers to the purchase of ad spots that will attract internet traffic. These ad spots can be purchased on different designated websites and in a variety of ways. The amount of money that is spent on advertising is referred to as ad spend, and the area of a website that is dedicated to online advertisements is referred to as ad space. The ad spend can be dependent on the ad space. There are many options available for ad spend, with the most common being pay per click. The PPC ad spend is simply an online advertising model that directs traffic to websites where the business pays a publisher, or the network where the ad is displayed, each time the ad is clicked. The ad spend for the pay per click model is dependent on a range of factors such as keyword popularity. While PPC is the most popular, there are other options such as pay per install, pay per view, pay per download, pay per acquisition, display ads and video ads.
The pay per click ad spend was originally made popular by Google Ads. Google Ads is one of the most popular ways to advertise and something that most people who utilize the google search engine are familiar with. Advertisers will bid on certain keywords in order for the clickable ads to appear within the search results. This system of advertisements is incredibly effective as long as the correct keywords are utilized. Google Ads also has multiple platforms that run ads within it, such as youtube ads and the ability to geofence. Similar to Google Ads, but more advanced is a type of marketing advertisement known as programmatic marketing. This allows a business to target specific customers on pages they are visiting. This type of marketing uses automated, real-time bidding processes that will purchase ad space, which will allow a business to advertise to a specific user in a specific context. These ads are hyper-targeted which makes them incredibly effective. Another effective ad space is the use of Facebook paid ads. These ads are targeted to users based on code that pulls a consumers location, demographics, and profile information. This type of advertising allows businesses to select objectives that will then bring awareness and interest to your ads based on the targeted code detailed above.
Paid ads do not need to be complicated. The beauty of paid is that when done correctly it can be implemented immediately and a business can see almost automatic results. These immediate results contribute to a return of investment that is beneficial to every business. PSP Compass has experts that can handle your paid advertising effectively and efficiently. With over 50 years of combined experience, we know how to accurately advertise for your business. A traditional paid advertising conversion rate is .9% (If you don’t believe us, just google it), however at PSP Compass our average conversion rate is 3.7%. These statistics show how dedicated PSP Compass is to assisting you with your paid ads. A common question we get is: how do you know if an agency can help you with your paid advertising? A good starting point is if your ad spend budget is over $500, and you have struggled to develop the paid advertising that works for you, then don't hesitate to let PSP Compass develop a paid advertising strategy specifically tailored to your business.