How to Choose the Best Platform to Advertise On

How to Choose the Best Platform to Advertise On

When choosing a platform to advertise your products and services, it’s important to keep these four things in mind:

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  • Where your target market is
  • What your overall goals are
  • What the cost of the platform is
  • What your customer lifetime value is

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Where Is Your Target Market?

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When coming up with a marketing strategy it’s essential to know who your target market is.  In order to advertise effectively you must know where your potential customers hang out online.

For example, if you are selling clothing for teenagers, Instagram is going to be a great place to put your brand in front of people.

But, let’s say you are an interior decorator.  You will want to advertise on Google to get the people who are actively seeking out your services.  This will ensure all of the inbound leads are qualified and willing to do business with you.

If you tried to advertise your decorating services on Instagram you wouldn’t get the profitable results you are looking for because that’s not where your customers are.

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What Are Your Advertising Goals?

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Every business has different objectives when it comes to advertising.

When choosing the best platform to advertise on, you should determine what your overall goals are.

If you are an eCommerce store you are going to have a main objective of driving sales.

If you are a service based business your main objective is going to be generating qualified leads.

So, if you know what your goals are and how much you are able to spend on each customer, you are already on your way to getting more leads and sales.

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What is the Cost of the Platform?

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Different platforms have different costs and this is very important to keep track of when getting started.

Google is going to have a much higher CPC (cost per click) than Facebook because each search query on Google has a much higher chance of converting.

Facebook is going to be much cheaper and will generate a significant amount more traffic depending on how you are targeting your campaigns.

But, even though this may be the case for the majority of businesses, it is always important to test all metrics to make sure you are maximizing your return.

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What is Your CLV?

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This is one of the most important questions you need to know to succeed in marketing.

The company who will come out on top is the one who knows exactly how much money they can spend to acquire new customers.  Also, how long it will take to recuperate that investment.

For example, an eCommerce store may lose money to acquire a new customer.

But, if they have the right systems in place to up-sell and cross-sell these customers, they will be able to generate far more revenue from that one customer throughout their lifetime than if they were to try to be profitable from the very start.

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