Are you using online ads to help grow your small business?
Consider the following trends when developing your strategy:
- One third of small and mid-sized businesses buy online advertising (paid search and display ads), spending an average of $6,800 annually.
- 3% of small business owners think that pay-per-click ads are effective, but 77% of ads are never seen!
- A typical person sees 1,700 banner ads per month, but clicks just .1% of the time.
Many businesses are shifting their money to social media advertising.
Investment in social media ads has increased from $3.8 billion in 2011 to $5.9 billion in 2013. This amount is projected to increase to $9.8 billion in 2016.
There’s a lot to “like” about social media:
- Facebook delivers 25% of the ads on the internet. Clicks on Facebook ads are up 29% and revenue per click is up a whopping 176% (from 2012 to 2013).
- Twitter ads build awareness and greater brand favorability. They also generate 55% greater purchase intent than non-engagers.
- 60% of LinkedIn users have clicked an ad. LinkedIn offers a visitor-to-lead conversion 3 times higher than Facebook or Twitter.