Not all small businesses are created equal. Marketing strategies that work for a business with 20+ employees, may not be feasible for your small business with 5 or less employees. Paid advertisements are one of those strategies that may or may not be right for you.
As with any marketing strategy, trial and error is sometimes the only way to really know what will work for you. It’s all about making constant small adjustments until you find the sweet spot. And then tweaking again when the opinions of your target audience shift (and it will shift). Paid ads are the same, except unlike the free strategies that I suggest, this one could cost you big time if you aren’t careful.
Here are my keys to success when it comes to paid ads:
- Start Small: Don’t spend a lot of money right away. Start with a small amount and track the results. If you don’t see an increase in business, then adjust something before you spend again.
- Target the Ads: Most of the available paid ads (Google, Meta, LinkedIn, etc.) have ways to choose who they are showing your ads to. It doesn’t matter how perfect your ad is. If the wrong people are seeing it, then it will never convert. Be sure to pick the options that your target audience falls into, so that your ads are shown to the right people.
- Analyze, Analyze, Analyze: If you aren’t keeping track of the ROI, then you might be wasting your money. Always look at the numbers to make sure that your strategies are actually making a profit. The general rule in the marketing world is that you should expect to pay 10% of what you want to make (so spend $30 to make $300). If things aren’t adding up, then it’s time to move on.
- Pay Attention to AI: AI is changing the way people search for things. This will likely affect Google first, but the other ad options may follow soon after. Keep this in mind as you look into where you want to spend on advertising. Continue to assess this every month in case you need to adjust your strategy.
These companies selling ads like to make flashy promises about increased reach. Don’t let yourself get distracted by the numbers they give you. They’re trying to make money too after all. Instead, slow down and proceed cautiously by following the suggestions I’ve given.
Paid ads may not be a right fit for your business just yet and that’s ok. There are still plenty of organic, free routes you can take with your marketing.
All the best,
Ryanne Zender
Disclaimer: While marketing is based in part on statistics and psychology, it is not an exact science. Every business and market are unique. What may work for one business, will not necessarily work for another. There are no guarantees in marketing, and this post is for informational and educational purposes only and does not replace professional advice. You can check out the full list of disclaimers and disclosures here.
