In most industries there is fierce competition. If you want to stand stronger than your competitors, you have to stand out and preferably be one step ahead, so consumer preferences go in your favour.
One area where there is a chance to stand out is through display ads, or banner ads if that is your preferred naming. We’re taking a closer look at why you should put energy and work into display advertising and what advantages it provides, hang tight.
Does display advertising work?
The short and simple answer is: Yes. If you think about it, can you remember the last time you visited a web site where there were no display ads? When there is a mass of things, a quick rule of thumb – because it works! Display ads work very well which is part of the reason why 84% of marketers invest in display ads.
Increase your market accuracy
With display ads there is a better chance of reaching your target groups where it makes sense and is appropriate to reach them. Let’s pretend your selling fishing equipment. Then, for starters you can reach them accurately if your display ads are present at a site that naturally attract fishing enthusiasts. These are targets that have actively chosen to search for websites with information about fishing, thus being more receptive for ad exposure about e.g., fishing rods. In other words, you control both channel, interest, and target segment.
This is where display ads outrank traditional TV commercials. If you had run a commercial about fishing equipment on TV, you could for instance have decided to run it during a break in a program about fishing, but it would not have been as accurate as display ads.
Also read: How do you measure your brand value?
Improve marketing cost efficiency
Let’s stay in the TV world example. Justifying the expenses related to running TV commercials can be challenging. It is difficult to collect data and even if you did get a calculation on x number of people who watched the show where your ad was running, it is impossible to know how relevant your ad was to the audience, or how attentive they were during the commercial break.
With display advertising on the other hand, you can be more certain to target the relevant audience. Paying for display ads is usually done by Cost Per Click (CPC). This is value for money as you know that those who click, are interested. Of course, you are not guaranteed that everyone that clicks ends up buying. Nonetheless, raised brand awareness is achieved amongst those who did click.
This does not mean that you should only focus on display ads. Studies shows that there is a combination of platforms that provides the best results. One survey shows that your ROI’s can increase with as much as 35% if you use a wide range of platforms, including TV. Another survey shows that there is more than 25% probability that you recognize a TV commercial if you have seen it in a digital platform first.
Also read: Build a home for your brand with Papirfly
Invest in technology that strengthen your display advertising management
Creating display ads and administrating them is time consuming. It also requires expertise and knowledge to secure optimal results, skills that are often in shortage internally. As a result, many will maybe avoid display advertising all together, it is simply demanding too much resources, both internally and externally.
Proper display advertising should lead to instant recognition by potential prospects. By creating ad templates and automate the creation and publishing workflows using the right technology, achieving brand consistency across every digital channel and platform is within reach, thus a higher cause for brand recognition.
With technology that supports your display ad template administration and creation you make sure that anyone in your marketing team can create ads aligned with the brand guidelines, simple and efficient. The battle to win market share is on. And there is no need for any display advertising know-how or getting external support.