Paid Ads - Some businesses spend THOUSANDS per month. Why? Technically ads are supposed to make you more money than you spend on them. Does that usually happen? I feel safe in saying "no".
I also feel safe to say that online ads have become somewhat of a trend. I’ve worked with a few businesses that are running ads for the hell of it. No goals, tracking or ROI. It’s awkward to say, but I usually tell them to stop. If you’re not seeing any return on the ad its a very expensive waste.
Rachel, I hear you say, why are you hating on online ads? They wouldn’t be trending if they weren’t useful.
Yeah, sure whatever. Online ads can be useful for some things. Like brand awareness or search-specific targeting. I personally am a fan of boosting an Instagram or Facebook post to get more eyeballs on my content (cost per view).
Search based ads (cost per click) have been very useful for my clients. Keeping the schedule full sometimes relies on ad-spend. Just make sure that ad-spend is lower than revenue. Tricky bit of business that is.
My advice to do a paid ad is limit yourself to 2 weeks at a time. Set a firm budget for how much you want to spend in that time and let it run. Keep an eye on who is using the ad and make changes if needed. Make the ad work for you - Don’t let it run rampant with your credit card.
Online ads are not a set-it-and-forget-it strategy. (Set-and-forget mindsets are a dangerous game for business). You need to keep a close on your ad to make sure its working as hard as you are.
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