The way entrepreneurs Advertise their business and attract attention has changed dramatically over the last decade.
By far the biggest change has been in digital advertising. According to a Zenith research report, US spending on online advertising will grow by 12.4% to more than $135 billion by 2020, accounting for 53% of advertising spending. This means that more than half of all advertising spending has now shifted to online media.
And as COVID-19 changes the way we live and work, the world will become much more online centric. As a result, the opportunity to get your business more attention online has increased.
With 2022 on the horizon, now is a great time to take advantage of these growing trends and promote your business. Content marketing, video marketing and social media marketing can all be used as part of your business marketing efforts.
In this article, we look at the fifteen most popular advertising platforms and how you can promote your business in 2022 and beyond.
How to market your business in 2022
On average, businesses earn $2 for every $1 spent on Google ads.
#1 Pay Per Click (search ads)
Google is an advertising machine. It may seem like Google is providing you with useful information and tools (Google Docs, Gmail, Calendars, etc.), but Google is providing all this great stuff to make sure you see Google ads. 85% of Google’s revenue comes from the Google Ads platform.
The popularity of Google Ads has grown enormously over the last ten years. In 2019, there were more than 160 billion Google searches per month. On average, businesses earn $2 for every $1 spent on Google Ads.
One of the big advantages of pay-per-click advertising is that you only pay for what consumers click on. Whether you’re a large or small business, you can harness the power of search at a low cost. The ability to target and test specific markets and run narrowly targeted campaigns means that buyer interest is high. It’s an excellent, low-cost marketing strategy and an effective way to attract potential customers.
The only drawback may be competition from other companies in the same sector. Because of the ease of use of Google Ads, there are many advertisers in the most popular markets competing for the top spot.
Most of us are used to seeing ads on our social media feeds. This presents a huge opportunity for businesses.
#2 Social media ads
Advertising is the economic engine that drives all social media. LinkedIn started offering paid ads in 2005, Facebook started offering ads in 2007, Twitter added ads in 2010 and Instagram introduced ads in 2013….. Even TikTok has started adding advertising to the hugely popular social platform.
The world is used to seeing ads on social media. Many people ignore them, but see them anyway, which leads to familiarity. With the invention of tools like Facebook’s lead forms, the social media platform has increased the ability of advertisers to reach their market. Social media is a great tool for both brand awareness and business promotion. There are currently 8 ways to promote your business on Facebook that you should try.
For those looking to advertise on Facebook, the average cost per acquisition (CPA) on Facebook is reasonable. According to a 2018 study by Wordstream, the average CPA across all industries was $18.68 on Facebook (compared to $48.96 for Google advertising).
Email campaigns can help keep your products and services in front of consumers.
#3 Email marketing
Fifteen years ago, you opened an email when you got it. Today, the chances of you opening all your emails have declined. While email open rates have dropped significantly over the past decade, the average open rate in 2019 remains steady at 22%.
Depending on your market, sending emails to consumers can still be a good option. Especially as part of a broader strategy, email campaigns can help keep your products and services in front of consumers.
#4 Press Releases
When your company does something new, it’s very easy to send a press release to local and regional news agencies. PR is an effective media tool that can help you generate publicity. Free distribution through trusted news outlets means more people will see it and be more likely to use it in a smart way. For press releases, you can use a number of websites such as PRLog and 24/7 Press Release.
Influencer marketing can both help increase your brand’s reach and provide sales incentives.
#5 Influencer marketing
The growing popularity of micro-publicists and influencers has grown into a relatively new and untested advertising model. Popular “influencers” on both Instagram and YouTube are individuals with a large following (over 10,000 followers is a typical metric).
Influencer marketing can both help increase your brand’s reach and provide sales incentives. According to a study by SproutSocial, it costs an average of $271 per post to use an influencer to promote your brand. For influencers with over 100,000 followers, the average cost was $763 per post.
The benefit of promoting on podcasts is that the audience trusts the podcaster.
#6 Podcast Ads
As podcasts have become more popular over the past decade, there are many opportunities for advertisers to gain access to an interested audience.
Podcast advertisers are often called “sponsors” because they enable podcasts to continue. In return for the sponsorship, the podcast host usually reads an advertisement (as in radio) in each episode.
A major benefit of advertising in podcasts is that the audience has a high level of trust in the person reading the ad. Most listeners know that the podcaster will not advertise products or services that do not suit his or her target audience.
If you want to advertise on a podcast, it typically costs $18-25 CPM (cost per thousand downloads). Some of the most popular podcasts can charge $40-80 CPM, and they often only advertise products that they themselves use.
One of the easiest ways to increase leads for your business is to ask for help from people you know. Contact friends, acquaintances, former employers, nonprofits, schools and colleges, and even other businesses that have customers who may need your services. Explain to them that you know you’re in business, and ask if they can use your services or if they can suggest people who need what you sell.
This may seem like an overly simple approach, but many of the best deals come about as a result of someone knowing someone who needs your services.
An online coupon with an attractive offer may be enough to get new customers to visit your local business.
#8 Video content and advertising
Since its launch in 2005, YouTube has grown to become the most popular video platform in the world. In an average month, 80% of people aged 18-49 watch YouTube.
Not only does Youtube offer the opportunity to advertise on the platform, but the video format is also an excellent way to build trust with audiences. Companies that use video as part of their advertising and content achieve greater engagement with their customers. If you own a YouTube channel and add video marketing to your business, it can also help with search engine optimization.
Video can be used to advertise, educate and connect with existing customers. You can also use video as an add-on to every blog post you write.
Best of all, the cost of video production has dropped significantly. For less than a few thousand dollars, a business can set up its own studio and start producing high-quality videos.