Though some people believe it’s an exact science, digital marketing is more of an art form. Knowing where, how, and why to pursue certain avenues of advertising in the digital space takes years of experience and research, but we want to help break it down so you understand how the strategy works.
First, let’s simplify! Understanding all of the technical ins and outs of advertising is an arduous process, and simplifying our example helps us lay the groundwork for a deeper understanding of how we run your campaigns.
AN EXAMPLE – YOUR LEMONADE STAND
Let’s say you have a lemonade stand and you’ve budgeted $10 per week to spend on marketing and advertising. How you spend that $10 is entirely up to you, but where you spend is going to be limited. This is your advertising budget.
You can put signs up yourself, but you want to make sure you’re being “seen” in exactly where people who may want lemonade will be. You’ve decided to budget $8 for advertising and $2 for marketing with friends. That $8 is your advertising spend limit.
Nearby there’s a popular corner with a large sign you can advertise for. You can rent space on the sign for $10 per week, but the price may change from week to week. It could be $8 this week, $10 next week, or even $15 the week after, all based on the number of people who may want space on the sign. The owner of that space is determining the value from week to week.
So you tell the owner that you’ll be happy to rent the sign whenever the cost is less than $8. This is what we would call your bid. You’re happy to spend less, but you’re willing to spend up to $8 per week.
Say you are advertising for 3 weeks within your budget. Suddenly, more lemonade stands pop up and the demand for advertising space goes up. There may be another stand that’s willing to pay more and bids higher for that space. The owner decides that they’re going to raise the rate to $12 a week, meaning you can no longer afford to advertise until prices drop again or you determine that you’re willing to spend more.
Though we wish things could be this simple, there’s still so much more that goes into digital marketing than just bids and clicks. We want to ensure you’re well equipped to handle some general questions but as always, please reach out to us if you or your team have any questions.
As we move forward, keep in mind that this is the tip of the iceberg. This is one scenario in a case where things change daily. But rest assured that your T/G team has it covered and will keep you in the loop on recommendations or changes.
GLOSSARY – FOR REFERENCE
- Campaigns are how we promote you using Facebook, LinkedIn, Google Paid Search, and Digital Display
- Target audience are the specific group of consumers most likely to be attracted to the services that Alpine offers
- Impressions are the number of people who have seen your ad
- Clicks are the number of people who have clicked on the ad
- Conversions are the number of people who have interacted with the ad’s landing page by filling out the form
- Keywords are search terms that would trigger your ad to appear
For help with your digital marketing, contact The Experts in Awesome at Tayloe/Gray.