It’s important to understand what stage your business is in during its life cycle to help you decide on the metrics that matter most to see your growth.
Introducing a digital ad strategy is an important step in your marketing efforts for all businesses. Depending on what stage your business is in will direct how you use ads and what results you should be looking to achieve.
So how do different business stages impact your digital ads strategy? Let’s look at some different business stages, to understand how ads can help and what you should be more importantly what you should expect them to do.
I’m a newbie and ready to launch
Congratulations! You’ve taken that huge leap into business ownership land. You’ve probably spent a lot of time and money getting to the point where you’re ‘open for business’ so.. how can you best use digital ads in your overall marketing strategy?
For a business that’s in its infancy stage you’re in the building phase of getting your brand and products out there and connecting with potential customers. If you haven’t made a start, this is the perfect time to introduce yourself, start building a relationship with them and gain their trust. Amongst your organic tactics, ads can help accelerate this stage, speeding up some of that building process to help close the gap between your offer and your customers.
Using digital ads will benefit you in mostly the awareness and the consideration objectives. This means looking to get eyeballs on your brand and traffic to your website will be incredibly important. You’ll also gain insights from data on your target market a lot quicker, helping you refine and develop your business further. Sales may be lower in this stage but setting yourself up for long term success should be a priority rather than booming only to find you bust.
I’ve been around the block a few times and ready to grow
If you’ve been running your business for a while now, developed your community organically and want to take the next step in growth, your ads will be ready to sing the praises of your hard work. There’s no doubt that clients that come to us with strong website traffic and a community built up on social media have fantastic opportunities presented to them in the form of ads.
A campaign that covers consideration and conversions would be a great place to start. You may even find taking a few steps back and running some awareness campaigns also suitable in getting your brand out there and reaching new people who may not have heard of you. You should see sales coming through pretty steadily now, they may not be turning a profit but as you continue to learn how to interact with your customers a steady increase in your ROAS will happen. Getting ready to grow!
Ads, shmads.. Just call me Don Draper
Ads have become part of the furniture in your marketing strategy, you may have a really good understanding of how they play an integral part of the overall customer journey and know when to push and pull those budgets. Your business is probably considered mature in that it has been through the trenches, learnt the lessons and refined your overall business.
Depending on your business goals, you can take your pick but an always on conversion based campaign would benefit you.
It’s not unusual for us to see mature brands come to us that are starting to see those high profits start to decline or just plateau. On most occasions there is likely to be competitors lurking around your customers. It’s nice to keep the blinkers on and focus on your own game but just remember your customers are being advertised to by your competitors. It could be time for a shake up of your ads and a deeper look at your strategy.
Ads can be used by all businesses at all stages of their business life but it is important that ads work hard for you, using the right ads at the right time and to keep in consideration other variables that can impact your results. A’hem Locky D 6.0 & iOS.14..I am looking directly at you!
The natural life of a business will see ebbs and flows, the line of growth is not a straight line that trends up every month and this so normal.
The great thing about digital ads and implementing them into your marketing strategy is there are many options on channels to connect with your customer. We here at TDP love an ad and seeing our clients set themselves up for long term growth, using ads to nurture and further support their business at every stage.
Want to learn more about digital tactics to implement in your business? Join us for a lunch n’ learn here
Or if you would like to develop your social media strategy check out our 1:1 strategy sessions
Want to keep up to date with our weekly blogs plus everything that’s shiny & new in TDP land? Subscribe here, good soul