The Biggest Risks of Paid Marketing in 2022
Paid Marketing in 2022: Understanding the Landscape
While pay-per-click (PPC) and other paid marketing campaigns continue to be a lucrative source of revenue for businesses around the world, algorithm changes and other developments have certainly altered the digital advertising landscape in recent years. With these changes have come new risk factors that savvy business owners find themselves needing to pay more and more attention to. Developing a sound plan to mitigate these risks will be crucial to growing market share in the years to come. Here are the biggest factors to pay attention to for the remainder of 2022.
1. Automation Makes Overspending Easy
Marketing automation platforms have become much easier to use. Without a detailed plan in place to manage your advertising budget, however, the streamlined user experience that these automation platforms provide can help you burn through your advertising dollars fast with little to show in the way of results. Fortunately, most large-scale digital advertising platforms make it possible to start with very small test budgets before scaling up.
Running test campaigns before a larger rollout can help dial in everything from the proper target keywords to an effective messaging strategy. Even if you are working with a sizable budget, it’s wise to start near the minimum accepted ad spend until you get positive results from a platform. Once you’re sure that you have a winning campaign, then increasing the budget is easy.
2. An Effective Campaign Requires An Entire Sales Funnel
Most business owners know that digital marketing platforms reward ads that have a higher click-through rate with a lower cost per click. However, click-through rate is only one of several factors that determine how much you’ll pay for your SEM and PPC campaigns. Here’s a little-known fact: Google, Facebook, and other platforms pay just as much attention to how users interact with the landing page for your advertisement after clicking through.
If you are sending users to a page with a contact form, for example, then the platform you are running the advertisement on will be keeping track of how many users fill in the contact form. The job of an effective paid advertisement is simply to send prospects into the next stage of your sales funnel. Without a landing page that drives engagement, your campaigns will quickly fizzle out.
3. An Algorithm Change Can Quickly Derail Your Campaign
Many people think of Google’s algorithm changes as only being a threat to search engine optimization (SEO) campaigns, but this couldn’t be further from the truth. In 2017, for example, Google completely suspended PPC campaigns for addiction treatment services. Google has also banned advertisements related to other industries in the past. Unfortunately, these changes almost always occur with very little advanced notice. However, mitigating this risk by diversifying your advertising spend across multiple platforms is certainly a viable strategy.
As a certified Google Partner, Steerpoint has the expertise to help your business navigate the confusing world of paid digital marketing. We offer a full stack of high-performance services, including PPC, search engine marketing (SEM), social media marketing, SEO, and much more. To consult one of our experienced professionals on how we can help, reach out to us today.