There are two main channels used for raising awareness to your business or product. I previously covered social media advertising and in this post we’ll have a look at Display Advertising.
Here we’ll focus on some basic concepts such as benefits, bidding, and what you can achieve through display advertising as a whole. If you are keen to create your own Google ads, check out my quick guide for creating Google ads campaigns.
What is Display Advertising
Display advertising has evolved over time. It used to be limited to showing ads on all websites to all audiences. Today, however, this dynamic channel combines the science and precision of audience targeting with the creative potential behind the ad itself.
Compared to paid search advertising (PPC) wherein your ad is displayed to users that are actively searching for a solution to their problem, display advertising is about pushing the message out to an audience unaware of their problem or your product.
From a buyer’s journey perspective display ads are most relevant at the first stages of raising awareness and interest in your brand/product/service.
Benefits of Display Advertising
- Increases Brand Awareness to your target audience.
- Drives consideration for your brand or product.
- Stimulates purchase intent with highly targeted ads.
- Increases the reach of your content by going either narrow or broad.
- Re-engage with existing customers to promote new products.
- Encouraging non-converting website visitors to complete purchases.
Buying Mechanisms for Display Ads
Compared to PPC ads wherein you only have the pay-per-click mechanism, in display advertising you have three buying mechanisms.
- CPM – using the Cost per Mille buying mechanism means that you pay for every 1000 impressions – your ad is displayed 1000 times.
- CPC – similar to PPC, the Cost per Click mechanism lets you choose how much are you willing to pay for a click – if your competitors pay more your ad will be shown sparingly or not at all.
- vCPM – the Viewable Cost per 1000 impressions is like a merging of the other two; you set how much are you willing to pay not for a click, but for every 1000 impressions.
Key Objectives for Display Advertising
Display Advertising is mainly an outbound marketing channel for driving awareness about your brand or products. However, the remarketing capabilities offer the possibility to go beyond just raising awareness.
1. Build Brand Awareness
When your business is fresh or you have a new product your objective is always focused on awareness. The KPI metrics for brand awareness are impressions, engagement, reach, and frequency.
2. Drive Consideration
To drive more interest in your offering you can use display ads retargeting to further educate the users who are already aware of what you have to offer. You can showcase what is different about your product compared to similar products. Or add an extra layer of any information that might be appealing to users to learn more. The challenge is that you have limited screen space and time-limit to do that.
3. Driving Action
You can also use your ads to stimulate your audience to perform an action such as buying a product, completing a form, or downloading a file. For example, if a user adds an item into their shopping basket you can use retargeting to display a 10% limited time offer.
Although as a consumer I have a low view of display ads, I believe the current targeting methods and retargeting capabilities are a great perk for marketers but for consumers too.
Like any other marketing channel it requires trial and error. Similarly to social media ads, your display ad campaign success is highly influenced by the creative behind the ad.