Setting up an effective advertising strategy for your ecommerce business is no cakewalk. The major concern is that despite millions of online shoppers in the world, there’s raging competition in the ecommerce market.
Ecommerce Advertising or Ecommerce Marketing is the practice of prompting top-of-funnel web traffic in order to convert them into sales and add more consumers. In other words, it is an act of setting paid content on an online platform or an offline source. Online platforms may include a website, social media handles, search engines, newsletters, podcasts, etc. On the other hand, offline sources may be inclusive of the traditional types of advertising such as direct mail campaigns, TV channels, radio commercials, billboards, etc.
Paid advertisements let you reach those set of potential customers who might not have heard or known about your products and business. The aim behind advertising campaigns can be anything from developing brand awareness to getting direct responses via sign up, sales, or subscription.
If you have not been long in the ecommerce industry, it could be challenging for you to choose the best way to advertise your ecommerce business as there are so many options for you to choose from. Even we would get confused if we were at your place. Therefore, in this blog, we will be discussing the types of advertising that are best suitable for your ecommerce business. By the end of this blog, you will be able to decide upon which type(s) would be a perfect match for your business requirements.
Types of Advertising for your Ecommerce Business
Although we said that there are many ways to advertise your ecommerce business, it is often believed that there is no incorrect way to advertise your business, which we must admit, is a complete lie. However, we are taking you a step ahead by making things easy for you. Below are some of the most effective types of advertising that you can employ in your ecommerce business:
1. Instagram Advertisements
Facebook had spent heftily for acquiring Instagram back in 2012. Back then, it seemed as they bought just another social competitor. However, recently, it has been clear what they saw as then. Instagram is yet another stream for generating revenue that appeals to a different set of audiences unlike the one from standard ads on Facebook. Indeed, Instagram is all about visuals. And, that works perfectly for ecommerce businesses.
If you have a sellable product, you can add a beautiful product photo on Instagram, place an elegant CTA (Call-To-Action), and target the post towards your demographics using the built-in programmatic social media platform. Reports have shown that advertisers are really benefitting from marketing on Instagram. All you need to do is add a high definition product image that can potentially stand out on your feed, putting the sellable product on the front.
One of the best advantages of advertising using Instagram is that it syncs amazingly with smartphones, and as it is not a hidden fact – shopping online using mobile devices is increasing every day.
2. Facebook Advertisements
Facebook had above 2 billion active users every month as of April 2019. Additionally, the average conversion rate of Facebook ads accounts for 9.21%, which is quite higher than most Google advertisements. If you wish to reach a wide range of potential audiences and earn the highest band for your advertising efforts, Facebook is the right choice for you.
You must determine your objective behind creating a Facebook advertisement and choose the type of ad you wish to create. Some common goals of creating Facebook ads include creating awareness, considerations, as well as conversions. Videos, photos, lead forms, carousels, slideshow, dynamic product ads, are the different types of Facebook advertisements.
The retargeting feature offered by Facebook lets you retarget the people who have already viewed your website, liked your posts, or taken any action on the dynamic ads created by you. One thing to remember is that in order to create Facebook Ad, you must install Pixel.
3. Display Advertisements
It is also implied as Banner Ads, and it was used since the earliest forms of web-based advertisements. However, it has become much more sophisticated over time with the emergence of ad networks such as Google that lets it dynamically target people based on their shopping interests, demographics, shopping patterns, location, etc.
Looking for direct responses from display advertisements would be a drastic failure. In fact, as per SmartInsights, the majority of the ads receive as low as 0.05% CTR. This implies that if 1000 people see your ad, you can expect only up to 2 or 3 clicks. And, hey, not all clicks are to bring you sales. Despite all this, display ads can potentially be more effective for growing your ecommerce business’ brand awareness.
Usually, display advertisements are billed in a CPM or Cost-Per-Thousand impressions format. Moreover, this charge has significantly increased within the last few years. Based on the location of your ad’s placement and your targeting strategy, the CPMs can vary from $0.30 to $10 or even higher by over $3 to $5. You must know that low CTR and high CPM implies that the costs are bearable for ecommerce businesses.
Although any ecommerce advertisers depend on display ads for enhancing brand awareness, some businesses have strategically adopted another marketing strategy that relies on their personal marketing channels in order to gain more authority over the consumer experience, reduce costs, and communicate effectively with their consumers.
You would find many types of ecommerce advertising strategies out there. However, these were the three major ones we found could be helpful for you. You can rely on these highly effective types of advertising for your ecommerce business. However, the results you reap would take your time, patience, and efforts. Whatever be the advertising strategies, the ultimate goal is to find the one that perfectly fits your businesses’ shoes! Try the types of advertising we mentioned here and grab your chance to attract more consumers to grow better in your business niche.