EXPLODE YOUR ADVERTISING REVENUE IN 2021 - WHERE TO INVEST YOUR ADVERTISING SPEND IN 2021 - Webflow
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
EXPLODE YOUR
ADVERTISING
REVENUE IN 2021
THE ULTIMATE GUIDE
WHERE TO INVEST YOUR
ADVERTISING SPEND IN 2021
SO IT DELIVERS CONSISTENT, HIGH QUALITY, PROFITABLE LEADS & SALES
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
WHAT’S INSIDE
The Hard Truth About Advertising in 2021 1
Australia’s Top 14 Digital Advertising Channels 2
The 6 Key Focus Areas For Your 2021 Digital Advertising Plan 3
What To Do Next 4
THERE IS NO DIGITAL STRATEGY ANYMORE. JUST STRATEGY IN A DIGITAL WORLD.
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
1. THE HARD TRUTH ABOUT
ADVERTISING IN 2021
Last year was the final nail in the coffin for traditional advertising. People want
to advertise where their customers are – and, well, everyone’s online. Then
there’s the ‘small’ problem of tracking return. Budgets are tight these days. So
do you really want to waste money on campaigns you can’t track?
Make no mistake. Advertising now means digital. And we’re not the only ones
to think so. Just follow the money. Digital is forecast to take up the lion’s
share (61%) of global ad spend in 2021, topping US$339 billion. To put that in
perspective, that’s around a quarter of Australia’s GDP last year.
Digital is no longer a choice. It’s a non-negotiable. And you need to start
thinking that way if you want to keep your doors open in 2021.
Scary, but true.
Don’t know where to start? No need to panic. We’ve got your back. That’s why
we wrote this guide. And, as industry leaders for 21 years, we know a thing or
two.
Read it. Learn new things that will make you money (and keep you in business).
Then, go out and slay 2021.
H OWA R D G O SSAG E “NOBODY READS ADS. PEOPLE READ WHAT INTERESTS THEM. SOMETIMES IT’S AN AD. “
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
2. AUSTRALIA’S TOP 14 DIGITAL
ADVERTISING CHANNELS
FACEBOOK
Users: 3bn Globally, 17m in Australia.
Summary: Largest Audience, Best Targeting Options, Accessed frequently by users
Creative: Video, Slideshow, Static Image, Dynamic Product
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Definitely use in every campaign whenever possible
INSTAGRAM
Users: 1bn Globally, 10m in Australia
Summary: High Quality Audience, Engaged & Active, FB Targeting Options
Creative: Video, Slideshow, Static Image, Dynamic Product
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Extension of FB Ads but with a younger avg audience
MESSENGER
Users: 1.3bn Globally, 1.5m in Australia
Summary: Link to automated bots that collect leads, sell products
Creative: Video, Slideshow, Static Image, Dynamic Product
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Avoid unless you have exhausted all other FB placements
AUDIENCE NETWORK
Users: 3bn Globally, 17m in Australia.
Summary: Displays ads on websites outside of FB. Low quality.
Creative: Video, Slideshow, Static Image, Dynamic Product
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Avoid unless you have exhausted all other FB placements
LINKEDIN
Users: 760m Globally, 11.21m in Australia
Summary: High quality B2B networking site with strong business focus
Creative: Video, Slideshow, Static Image, Dynamic Product
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Expensive. Users are in business mindset. Worth testing for sure
PINTEREST
Users: 322m Globally, 4.61m in Australia
Summary: Promoted pins & video pins can be placed in the organic feed
Creative: Image, Video
Objectives: Awareness, Traffic, Purchases, Offline sales
Our Thoughts: Low audience size but an effective ecommerce channel
TWITTER
Users: 317m Globally, 4.6m in Australia.
Summary: Sponsored tweets run in the organic twitter feed.
Creative: Video, Image, Text
Objectives: Awareness, Engagement, Traffic, Lead Generation, Purchases
Our Thoughts: Huge potential but small audience in Australia restricts outcomes
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
AUSTRALIA’S TOP 14 DIGITAL
ADVERTISING CHANNELS
GOOGLE DISPLAY
Users: 4.14bn Globally, 18.28m in Australia
Summary: Reaches 90% of internet users via banners placed on websites everywhere
Creative: Banner, Dynamic Ads, Product Ads
Objectives: Awareness, Traffic, Purchases
Our Thoughts: Great for retargeting and awareness, very cheap, poor converting
YOUTUBE
Users: 2bn Globally, 15m in Australia
Summary: Massive adoption, cheap inventory, extremely popular
Creative: Video, Banner, Text
Objectives: Video Plays, Traffic, Lead Gen and Purchases
Our Thoughts: The TV of the modern era. Complete no brainer
SNAPCHAT
Users: 101m Globally, 6.3m in Australia
Summary: Promotes Snaaps in organic feed allowing users to swipe for action
Creative: Video
Objectives: Lead Gen, eCommerce, Awareness
Our Thoughts: Has a loyal audience, cost effective,, great targeting, results vary
TIK TOK
Users: 800m Globally, 2.5m in Australia
Summary: Promotes Videos in organic feed that users can take action from
Creative: Video
Objectives: Video Views, Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Very affordable and uncrowded still with loyal users of all ages
GOOGLE ADWORDS
Users: 4bn Globally, 20.22m in Australia
Summary: The #1 search engine on the planet. Displays ads based on user searches
Creative: Text Ad, Dynamic Text Ad
Objectives: Traffic, Purchases, Lead Generation, Phone Calls, Location Visits
Our Thoughts: SEO takes time. AdWords is instant, intent driven traffic. Use it!
BING
Users: 923.5m Globally, 748k in Australia
Summary: Search Engine with 3.74% of Australian Marketshare
Creative: Text Ad, Dynamic Text Ad
Objectives: Many. Lead Gen, eCommerce, Awareness most common uses
Our Thoughts: Avoid unless you have exhausted all other FB placements
SPOTIFY
Users: 286m Globally, 8m in Australia.
Summary: The most widely adopted streaming audio platform in Australia
Creative: Audio, Image
Objectives: Reach and awareness via listens
Our Thoughts: Spotify is the new radio. Worth considering for low cost awareness
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
AUSTRALIA’S TOP 14 DIGITAL
ADVERTISING CHANNELS
Channel Creative Avg CPM Avg CPC Avg CPV CTR
Image &
$9.33 $1.26 $0.04 1.33%
Facebook Video
Instagram Image & $10.26 $4.26 $0.17 0.22%
Video
Image & $9.09 $0.70 $0.05 0.72%
Audience
Video
Network
Image & $8.17 $1.06 $0.05 0.78%
Messenger Video
Image &
$43.78 $6.82 $0.15 0.60%
LinkedIn Video
Twitter Image & $8.38 $0.49 $0.05 2.21%
Video
Image & $4.54 $0.97 $0.07 0.30%
Pinterest
Video
Banner $3.84 $0.69 - 0.30%
Google
Image
Display
Video, $12.56 $4.16 $0.03 0.51%
YouTube Banner &
Text
$3.88 $0.58 $0.03 0.51%
SnapChat Video
$2.37 $0.26 $0.002 0.93%
Tik Tok Video
Google Text $112.47 $2.48 - 6.38%
AdWords
Bing Text $69.32 $2.02 - 3.31%
Audio $5-$30 - - --
Spotify
W H AT A R E T H E A B OV E M E T R I C S?
• Avg CPM - GlobalL Average Cost Per Thousand Impressions • Avg CPV - Globl Average Cost Per Video View
• Avg CPC - Globl Average Cost per Click • Avg CTR - Global Average Click Through Rate.
G A RY VAY N E R C H U K
“WHOEVER’S BEST AT
SPENDING THE LEAST
AMOUNT OF MONEY
RUNNING ADS, AND
MAKING PICTURES AND
VIDEOS TO GET PEOPLE TO
CONSIDER THEIR BUSINESS.
WILL WIN.
THAT’S IT. “
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
3. THE 6 KEY FOCUS AREAS
FOR YOUR 2021 DIGITAL
ADVERTISING PLAN
1. CLEARLY DEFINE YOUR GOALS
Work out what you want to achieve with your campaigns and what results you
need to deliver each month to make running them profitable.
Assign minimum monthly targets so you know what you’re aiming for.
2. DETERMINE YOUR MINIMUM MONTHLY BUDGET
Start with a test budget initially to get an idea of what a single result costs
(leads, sales, enquiries, phone calls, app downloads etc). We recommend no
less than $1,000 per channel per month as a minimum.
When you have some runs on the board, multiply the average cost of your
results by your monthly target defined in Step 1 to determine what your
starting monthly budget needs to be.
NOTE: Your monthly budget does not have to be limited to the minimum you
have calculated above. The bigger your budget, the more channels you can
run at once (and the more money you will make).
3. CHOOSE WHICH CHANNELS YOUR CAMPAIGN WILL RUN ON
Use the comparison table on p8 and other information in this guide to pick
your channels. Don’t worry if you select more channels than your budget
allows. Once your initial campaigns take off, you’ll have more money to spend.
Open up the additional channels and BOOM! You’re now scaling horizontally
(more channels) as well as vertically (deeper within each channell). Happy days.W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1 PRO TIP: Google AdWords and Facebook (Newsfeed Ads on mobile) are must-haves 99% of the time for campaigns we build and run at Convertd. Facebook Ads raise awareness (like TV) and follow customers who’ve visited your website or landing page. Google Ads put your message directly in front of your potential customers at the exact time they are interested in buying – even if your website’s SEO is [polite cough] lacking. In our expert opinion, you can’t do digital without either as they’re consistently the top performers. 4. PREPARE TO BE IN MARKET ALL DAY EVERDAY Digital advertising is not like traditional advertising. Yes, both are used to attract attention, but that’s where the similarity ends. In digital, your campaigns are usually evergreen and always-on. 24 hours a day, 7 days a week, 365 days a year. This amplifies the reach, frequency and impact of your messaging and gives you the best possible chance of being seen by your target customers. One-off campaigns such as event promotions are exceptions to this rule and are run more traditionally in bursts NOTE: If possible, allow enough budget for you to keep your ads live across each channel throughout the entire day. This maximises your chances of being seen by your target customers. As you gain data you will know the most profitable times to run your ads and can specify more granularly when they appear (times and days) to maximise your spend. 5. DON’T SPREAD YOUR BUDGET TOO THIN As a general rule, you’ll need a minimum of $1,000/month ($33/day) for each channel. Any less and you won’t get enough exposure to have any meaningful impact. So, be strategic. Test and learn your market. Over time, you’ll see which channels deliver the most bang for your buck. NOTE: One well-executed channel with ample budget is better than five underfunded channels that aren’t effective. As your budget increases, so can the number of channels you run. 6. MAKE TIME DAILY TO MANAGE YOUR CAMPAIGNS Digital campaigns need constant attention. No plan is complete without considering what to do post launch. Constantly tweak, test and optimise your campaigns. Keep your target KPIs as the focus of every decision you make. This will give you consistent benchmarks to measure against moving forwards and tangible outcomes to report on every month. NOTE: The possibilities of digital are endless so be creative. Don’t always just go for the hard sale. For example, build brand awareness and authority by promoting organic content to your target audience.
W H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
4. WHAT TO DO NEXT
You should now be confidently armed with enough
information to make educated decisions with your advertising
spend for 2021. If not, please get in touch. So where to next?
1. FORM A PLAN
Go through the process of puttting together your digital
advertising campaign strategy using the advice provided in
our ‘6 key focus areas for your digital advertising plan’.
2. MAKE IT A HAPPEN
When your strategy is complete, build your campaigns. Do
you have the necessary skills in house already? Do you need to
outsource the work to an agency to manage on your behalf?
Are your current staff savvy enough that undergoing some
training might be all you need to get your ads live and running.
Work out what you need to do to bring your strategy to life
in the way that makes most sense for you and take action to
make it happen.
3. KEEP YOUR EYE ON THE PRIZE
Once your campaigns and ads are live, you must manage them
daily. Track their performance closely. Tweak, optimise and
always be testing so that you get the most return from your
spend.
Make sure your focus remains fixed on the end result, with the
only 3 KPI’s you measure for success being:
- Volume (of leads or sales)
- Quality (of leads) or Revenue (from sales)
- Cost (per lead or sale)
All other metrics are ultimately just a means to an end. Use
them to guide your decision making, but focus on your end
result. Likes don’t pay the bills. Keep your eye on the prize.
Test and experiment. Continue this process until you are
hitting your target KPI’s.
Then and only then, it’s time to scale!WE HELP YOU SCALE WHERE OTHER ‘EXPERTS’ FAIL
You want to grow. That means more leads, more customers, more sales.
And digital’s your best shot of getting those in 2021.
But digital constantly evolves. Just when you think you’ve got the hang of it,
something changes.
So you’ve got two options. You can waste money trying to master the neverending list of new
rules and algorithm tweaks. Or you can get an expert to run your advertising for you.
Our advice? Book a strategy session with Convertd and dump your problem on us.
You’ll learn everything you need to know about the new advertising reality. More importantly,
you’ll know where to invest your advertising budget in 2021 so it gets you more leads, customers
and more sales.
GET YOUR FREE 30 MINUTE
STRATEGY SESSION
GET A FREE 30 MINUTE STRATEGY SESSIONW H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
BRAND EXPERIENCE
At the turn of the century, traditional advertising reigned supreme. So why did we jump in way back in 2000?
Because we knew the future belonged to digital. Since then, we’ve been at the forefront of the digital marketing
and advertising industry.
In that time, we’ve managed over $25 million in ad spend and worked with over 500 businesses large and small,
domestic and international. And the roll call is pretty impressive (even if we do say so ourselves).
Check out some of our recent clients below.
GET A FREE 30 MINUTE STRATEGY SESSIONW H E R E TO I N V E ST YO U R A DV E R T I S I N G S P E N D I N 2 02 1
WE’RE HERE TO HELP
WE USE PROVEN TACTICS TO HELP CLIENTS GET
CONSISTENT, PREDICTABLE REVENUE GROWTH
You’re probably sick of running ads that don’t deliver results. That’s called;
spending money on ads. Instead, you want to run ads that deliver consistent,
predictable revenue growth.
That’s called; investing in your future profits. We can help you with that.
Give Converted $1 and we’ll ensure it turns into at least $2 of revenue. For
example, just before Christmas, one of our wine industry clients invested
$4,500 … and got back almost $100,000.
How’s that possible? Because we’ve been in the game for more than 20 years
and run more than $25 million in ads for more than 500 businesses. So we
kind of know what we’re doing.
Speak to us if you’re serious about growing your business. We’ll give you
honest, expert advice free of charge (not a scripted sales pitch).
GET A FREE 30 MINUTE STRATEGY SESSION
CONTACT US FOLLOW US
PHONE: +61 1300 111 478
WEBSITE: HTTPS://CONVERTD.COM.AU
EMAIL: ENQUIRIES@CONVERTD.COM.AU
JOIN OUR FACEBOOK GROUP
We invite you to join our Facebook Community for Digital Advertising where
we share tips, insights, updates, answer questions and give advice.
JOIN DIGITAL ADVERTISING INSIDERS FB GROUPYou can also read
