Everything you need to know about the reality of Ad spend and affiliate marketing.
An important aspect of every business is the ability to get their name out online. Most businesses have a budget allotted specifically for digital marketing; however, it is important that the money isn’t squandered. Fortunately, there are some tricks to use help your businesses avoid wasteful Google Ads spend.
The Reality of Ad Spend
Most businesses are aware that a portion of their Ad spend is wasted. A survey done by Rakuten Marketing of more than 1000 marketers found that an estimated 26% of their total spend is squandered. About 2.9% of the businesses surveyed claimed that more than 80% of their digital marketing is wasted. These companies credit the amount of money spent to finding the right way to connect and appeal to consumers.
Fortunately, there are ways to avoid wasting money on Ads while remaining successful in marketing. Having someone manage your Google Ads campaigns can make the world of a difference. This person would ensure that optimisation is completed on a regular basis and adjustments are made to ensure there is no spend loss. Your Ads Manager will check on ads and change the campaigns that aren’t working to guarantee that your Ads are having the largest impact. It is also extremely important that you are constantly updating your Ads and remaining active on the platform. When marketing, you need to set-up campaigns and tailor them to your target audience. Make sure you have defined your goals for the campaign in order to stay on track.
The Popularity of Affiliate Marketing
It is important that businesses are aware of where their money is going and tracking where the ads are being shown. Businesses should also be conscious of how the channels used to show the Ad are performing. Many marketers look for sites that will deliver the desired results and work with them to share their advertisements. Affiliate marketing is a popular tool used by many companies. This method requires businesses to pay for the Ads promoted, while allowing the channels promoting the Ad to earn a percentage when a sale made is credited to them. The affiliate network is a third party that is in charge of tracking transactions through the use of a tracking link and cookie that are installed on the website. In recent years, we have seen personalised offers, focused data automation and granular segmentation added to affiliate marketing strategies. These strategies are reducing the amount of money squandered on Ads while allowing for more accurate estimates of spend and results.
You Are Not Alone!
Many businesses may doubt their ability to spend their allotted Ad budget efficiently. If you feel that your business may need some help, there are steps you can take to combat the waste. First, you need to assess the amount of money being spent on Ads. It is essential that you make sure that your budget is being used to reach your target audience. Are there different channels that will help you reach that audience? Once evaluated, connect your marketing directly to your sales outcomes. Consider using affiliate marketing strategies to further distribute your Ads to your target audience. Using channels that deliver desired results empowers marketers to make decisions for budgeting that are performance-based.