Paid advertising has been around since newspapers started. It was the first commercial media and still is one of the most prominent. Newspaper, magazine, radio, television and internet advertising all work off of the same principles. They offer an information product that can be purchased and then rented by an individual for an amount of time. The advertisements are placed or posted by advertisers on these publications, and viewers look at them through the published pages. Ads that do not fit with the publication are often run in smaller publications.
Paid advertising entails purchasing ad space or time in print, radio and the web, which allow advertisers to create multiple payment models. For instance, in the pay per click model, an advertiser pays just when viewers click on a particular advertisement. Advantages of this format include higher placement potential, and lower cost. Disadvantages include lost revenue for the publisher, higher costs for the click through to the advertiser, and not being as targeted as more targeted advertising methods.
Social Media Marketing: The use of social media in paid advertising has increased dramatically in recent years. Social networking sites such as Facebook and Twitter have made it possible for businesses to market directly to millions of people within seconds and at little cost. By adding news coverage to their existing website and mobile apps, businesses can reach customers through the news. While social media marketing may not necessarily translate into increased sales, it does provide an avenue for businesses that would otherwise not have the opportunity to advertise to the masses.
Advantages: Despite its many disadvantages, advertising remains one of the best ways to attract customers to a product or service. Disadvantages include lower turnover rates, limited demographic choices and difficulty in tracking results. In addition, the advantages include the ability to directly influence customer behavior and increase sales. These direct measures often result in greater profits than indirect methods.
Although digital platforms such as social media provide a unique opportunity for businesses to connect with consumers, they may not always deliver results. This is because users can easily ignore messages or posts or delete them without reading them. However, paid advertising campaigns that utilize digital platforms such as Facebook can be monitored and are often seen by target audiences. This monitoring ability makes it easier for businesses to make changes when needed or to simply respond to customer reviews.
As new and innovative digital platforms emerge, it is important to consider the current benefits and drawbacks of online paid advertising. Paid advertising allows businesses to reach specific demographics and can be more targeted than traditional forms of marketing. However, it may not be able to reach certain demographics or be as effective. The use of social media can increase brand awareness and overall engagement, but it can also result in a loss of revenue if the brand is not able to attract enough customers. Regardless of the benefits, it is clear that digital platforms can quickly and easily impact a business’ bottom line.