Are you interested in a paid advertisement to take your business to the next level, but don’t know yet if the pros outweigh the cons? In business, taking risk is something you will have to encounter, and if you don’t take the right steps, you might end up failing. There is no such thing as “free” advertisement, whether you are paying money or not you are always paying, and with something more precious, time!
Your time is the most valuable thing when it comes to business and knowing the most efficient way to use it can be a game changer. Instead of finding “free” ways to get traffic to your sites you might want to consider paying, since this way you can focus on other aspects of your business.
If you want to learn what the biggest pros and cons of paid advertisement, then consider reading till the end.
Cons of Paid Advertising
Hit and miss
When you pay for an advertisement, you might get a lot of traffic, thus a lot of sales. However, you may purchase the same advertisement again only to find out it got you no leads. This can waste you a lot of money, and you would have done the correct thing by investing more money into that ad. On the other hand, you might invest more money into the ad and generate a ton of cash, but you can never know exactly what is going to happen with paid ads. Also, you may use a small budget to test out an ad, which could fail completely, but if you had spent a big budget, it would have converted very well.
Lots of scammers
There are many scammers online when it comes to paid advertisement, which are hard to spot at first. However, to avoid scammers only buy ads from venues that have a lot of reviews, because that way you can be certain that they will not take your money and run. Another problem people encounter is that they get a lot of subscribers from ads only to find out nobody is buying their products, why? Well, it’s because they send out spam bots to your site, which is why you must buy ads from people who have a lot of reviews.
Very expensive to use
Buying ads is not cheap, but if you are making money from them then they are in a way “free”. For example, if you make $5 for every $1 you spend then you are making $4 for “free”, as all you had to do was setup an ad and wait for the results. However, to find an ad that will generate you sales will take time and money, but when you find one that converts it will all be worth it. In order to have faster success purchase multiple ads at once, since this way you will be able to spot out the ad that converts better.
Budget goes, list goes
When you run out of budget for your ads, your list will grow much slower, which is terrible for business. However, keeping the budget alive is a must. Otherwise, your success will be limited.
You need to build an email list of subscribers to get sales, but without a budget that’s going to take you a long time to do so. Even if your budget is not very big, it is still important to have one. Consider using Facebook ads, since they can have to ask prices as little as $1.
Pros of Paid Advertising
Can give you great results
Buying ads can pretty much change your whole business because it can generate you a massive amount of sales. If you were to look at any successful business today, you would see that they all use paid advertisements to attract customers. There are many options to choose from when it comes to purchasing adverts, but most entrepreneurs say that Facebook ads are the best. The reason why is that they convert the best because you can target specific people, regions, interests, age and many other demographic factors.
To get sales, you need to attract people who are willing to spend money, which is why paid traffic is more efficient. Services that sell traffic often have subscribers that have already bought their products in the past. However, the problem with them is that will not always convert, because they might have had many other offers in the past from the same seller.
Paid ads have better conversions for a reason, the level of targeting is a lot higher. As mentioned previously with Facebook ads targeting specific people has higher success rates. For example offering a diet book to someone who is looking to lose weight is going to convert better than offering the same person something like a woodworks program.
With ads, you are going to pay one way or another whether its time or money. Going the free route is going to get you slow results since it will take you weeks to generate a fan base that will get you leads. However, by paying for advertisements, you will reach a bigger audience, thus adding people to your email list much quicker.
Paying for solo ads is a great option because most people have lists of hundreds of thousands of people ready to subscribe to the next offer they get.
Exposes your business globally
Getting exposure to your business is what every marketer wants, but doing that is very difficult unless you use ads. Getting people to see what you have to offer from all around the world is a step in the right direction since if you offer good value in your products, people are more likely to share it with friends and family. Just from having a global ad you can gain an unlimited amount of subscribers without doing too much work. Simply find the right service, and you will see the cash flow in.
You can test many markets
With PPC ads you can test on a wide variety of different niches without too much damage to your budget. Many business owners use small budgets to test out if the market is hot or not, which you can do if you have many products in a wide range of niches. However, if you don’t, then you can still use the same approach and test out different ads in different sectors of your niche. A great example would be if you are in a healthy cookbook niche, then don’t advertise just to people looking to lose weight, target people who are into sports or cooking.
Never waste time again
There is no point in making high-quality content for your customers if you don’t get a lot of views, hence why you won’t make that much money as there is no exposure. This biggest mistake you can do is invest in content and not in advertisement, because no matter how good your offer is if nobody can see it you will make zero dollars. One big plus of paid advertisement is even if you don’t have a big budget to start off with you can still generate leads and as you progress and you can always increase your budget until you meet your goals.
There are many pros and cons when it comes to paid advertisement. However, it is up to you to decide if the pros outweigh the cons. Paying for ads is not such a negative when you start making sales, but many business owners fail to acknowledge this.
They believe their product is perfect and that the ads are an unnecessary cost, which is often the complete opposite. Consider using multiple ads at a low cost to test the market, and if you like the results, you can always increase your budget.
This is a guest contribution from Sarah Loise. She is a member of the mymathdone.com team, which is in charge of content creation and website maintenance. Also, she uses her in-depth knowledge of the commercial legal matter, commercial off-the-shelf systems, marketing and engineering in business consulting for young entrepreneurs.