28/12/2015 by Kristine

4 ways to maximize your business goals with minimal investment for ads

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Most small to medium sized companies often wonder how much they should be allocating for advertising in order to obtain maximum returns. Others who have already invested in advertising tend to discontinue after a period of not seeing significant returns.

Most small to medium sized companies often wonder how much they should be allocating for advertising in order to obtain maximum returns. Others who have already invested in advertising tend to discontinue after a period of not seeing significant returns.

Here are tips on how boost your business through ads costing minimal investment:

1. Be Patient and Collect Data

It is too early to expect spectacular results within your first month of advertising. The first few months should be treated as a period for data collection to boost your business in next phase. Start small with minimal investments and try to figure out what works and doesn’t. Findings from this early stage will tell you a lot of things you would not realize. Tweak your strategies and get ready to brush up on your targeting and creatives. Weather or not you can get informative insights for your products will make a difference in future campaigns.

2. Don’t Just Go With Your Favorite Channel

“I want to try only Instagram ads because it’s new and many people use Instagram!”
Sometimes we encounter this kind of request from clients. Don’t jump the gun. Try to choose advertising platforms according to your target audience and business objectives. Each platform is different and demographics vary. Moreover, different ad menu and creatives affect advertising performance differently, even on the same platform—we recommend that you try out several creatives and menu on the same channel.

3.Combine Your Data to Get New Insights

When you run your ad on Facebook, for example. Don’t conclude your analysis with just the ad performance data, try to look beyond that metric and check other data like CTR, CVs and video views.

When BRP, the world’s leading quad company and one of our clients, launched its website, it needed more time to see SEO results. Facebook ads was one of the important channels that sent traffic to the website. Facebook traffic data on Google Analytics gave us an idea where the users were located and helped us decide whether to run our ads in English or Arabic.

Demographics Data from Google Analytics

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This real data helps you build your target audience

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Take a look at BRP again for another example—we found out that Arabic speakers converted more than English speakers on Facebook ads. Based on this data, we decided to create separate ads each for English and Arabic and built different target audiences by language. This enabled us to allocate budget on the most effective targets and maximize leads.

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Mobile is also a hot issue in the industry. Again from Google Analytics, we found out that 70% of users are on mobile. With the mobile superior situation, we tried out Facebook lead generation. This menu focused on increasing leads by giving seamless experiences for mobile users. The results were surprising—CVR increased 481% over general conversion campaign.

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4. Ads Help Market Research for your Products

Ads are not only be useful in promoting your products, they also help know your real audiences. Sometimes, it gives you new perspective on your products. The Beauty Floor, an e-commerce beauty shop, launched new products on their shop. We initially assumed the audience to be Muslim women since the products are Halal certified. The clients also wanted to highlight that the products are Halal certified.

Since the products are also organic and handmade, we suggested to target organic product lovers as well. To confirm our assumption on what the products’ main audience is, we created an ad for each audience group and ran both on Facebook. This resulted to 90% more orders from the organic-lover audience.

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In summary

Budget is not necessarily the only determining factor of success in ad campaign. Although the impact will definitely be greater the more budget you pour into the campaign but what’s more important is how this budget is spent—utilize the data gathered from earlier campaigns. This is one of key things for small and medium-sized enterprises. Lastly, be curious and keep an experimental mind, these are powerful ingredients for success.

Kristine

About Kristine

Apparently good things come in small packages and Kristine certainly proves this to be true. She has more than 10 years of experience in integrated marketing, building and managing global brands, and has worked across a broad spectrum of sectors – including automotive, FMCG, hospitality, healthcare and everything in between spanning MENA and Europe. She is also a veritable foodie, fitness enthusiast and a sought after author (not only for her recipes!) and voice for the digital and performance marketing verticals in the region.

 

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