Despite the popularity and growth of display advertising, it remains one of the most misunderstood and mistrusted advertising mediums. When companies misuse display campaigns, brands become confused and disappointed and end up ignoring a vital part of their digital marketing strategy. However when employed correctly, display advertising not only drives targeted brand awareness, but offers vast opportunities for targeted web traffic and conversions.
Here are three ways display advertising can be an important part of your digital strategy.
1) To drive brand awareness
When we think of mass-media advertising, we often think of radio or TV commercials, while digital ads are relegated to the world of clicks and conversions. Although impressions are often an overlooked metric in display advertising, the reality is that ad impressions can play a valuable role in building brand awareness.
In a recent study, brand recall was higher amongst users who had recently seen a display ad versus those who had not, and display ads can improve search ad conversions by 15-25%. Additionally, according to the IAB, display campaigns can raise a brand’s awareness by 12% on average. These are big pay offs for a mass-reach medium that costs a fraction of TV.
2) To drive qualified website traffic
Many companies believe display advertising is a waste of money. They imagine intrusive, irrelevant banner ads featuring products they don’t care for. While in the past there was some truth to this impression, display advertising has come a long way in the past five years and is a very effective way to reach truly interested customers.
With advanced demographic targeting and behavioral targeting, brands can now speak directly to niche audiences through programmatic display advertising. And to control costs, newer bidding options allow companies pay for results instead of eyeballs, giving advertisers and brands a way to drive results with measurable ROI. Take eCPC, for example: A bidding strategy where brands are only charged when users click and engage with their content.
3.) To drive conversions using retargeting
Nearly every company with a website (which means, just about everybody!) should have a retargeting campaign at the core of their digital strategy. With retargeting technology showing display ads right to users who have already visited a web page, advertisers can know exactly what the potential customer’s interests are and deliver more relevant messages.
This kind of data also allows brands to segment their audience, accurately understand their sales funnels and engage users and leads for a cheaper CPA than other advertising mediums offer. Segmented retargeting shows unique display ads to visitors who take specific actions on your website. For instance, users who check out a product on your website can be shown an ad showcasing that specific product. Or users who visit a particular number of pages or engage with specific content can be added to an audience and shown display ads highly relevant to them. Popular watch brand MVMT Watches found cost per conversion was 20% lower and conversions were 2x higher than any other platform with segmented campaigns.
When used correctly, display advertising is a cornerstone of any digital marketing campaign, driving qualified traffic and conversions. If you company is neglecting display advertising, now is the time to reconsider and layer it into your existing digital advertising.