Key Messages
Learn All About How Advertising Works Behind The Scenes: From Increasing Your Click Through Rate To Why You Need Cookies To Attract Customers
Are you curious to learn more about the secret world of modern advertising? If so, then this is the book summary for you!
Since the 1950s, advances in advertising and psychology have combined forces to create a new kind of marketing that taps into our deepest desires.
With technology now part of the mix, big data has enabled advertisers to better reach consumers on an individual level.
In these chapters, you’ll gain invaluable insights into some of the most powerful online marketing tools out there today.
Discover how Bill Gross revolutionized online ads with effective use of cookies, learn how to increase your click through rate for maximum impact, and get a glimpse into the inner workings of modern advertising.
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Targeting Is The Key To Success In The Digital Economy
Targeting is the key to success in today’s digital economy.
It’s about giving consumers what they want, when they want it and at the right price.
The products being offered have literally exploded in recent years – from computers and smartphones to internet services, modern customers know exactly what they want so they won’t settle for anything that isn’t just right.
That’s where SEM or Search Engine Marketing comes in – making your website as easy to find as possible so that people can find your product and get their needs fulfilled.
This takes two basic forms: SEO or Search Engine Optimization which implements web design strategies to increase the chance of getting higher search rankings; and paid search advertising which offers space on high-traffic websites like Google to a select group of advertisers who can deliver products perfectly suited to people’s needs.
In other words, targeting is the art of giving the right person the perfect product at just the right time!
The Pros And Cons Of Paid Search Advertising: Expensive But Effective For Companies Looking To Reach Customers
Paid search is an amazing way to attract potential customers.
Ads of all types — pop-ups, images, banners, videos and keywords that show up during a search engine request — can help draw people in.
This form of advertising is so popular that it accounted for $19.9 billion spent in the United States alone in 2013!
What really makes paid search so desirable is that it connects directly with what the consumer wants or needs.
The result is high Click Through Rates (CTR) of up to 10%.
This compares favorably against CTRs of non-searched ads which are a measly 0.1%.
When there are too many competitors vying for the same keywords however, the costs can quickly climb as we saw with the keyword “life insurance” rising from $1 in 2002 to $20 in 2012, per click!
Unscrupulous companies even resort to click fraud – repeatedly clicking on a rival’s ad – trying to drive up their costs, instead.
All things considered though, paid search remains one of the best ways to attract potential customers online.
From Static To Dynamic: How Bill Gross Revolutionized Paid Search Advertising With Real-Time Bidding
Adding the element of bidding to paid-search advertising created a dynamic form of SEM.
This was made possible by the pioneering work of Bill Gross, who back in 1997, noticed that traditional Yellow Pages charged for ads according to their size and had an idea.
With this concept, he created GoTo.com and developed a system where the more you pay, the more visible your advertisement would be.
This system consists of two main elements: firstly, advertisers offer money for certain keywords/phrases and in exchange, their ads are displayed when someone searches for them; secondly, as many competitors may be interested in buying the same terms, they have to bid with what they are willing to pay; therefore creating a fair market price.
These competing bids then put those who pay more at an advantage as their advertisement will be among those shown first on search engine results pages.
Additionally, this form of dynamic paid-search advertising is also beneficial for advertisers since they only have to pay when someone clicks on their ad.
By adding the element of bidding to paid-search advertising, Bill Gross provided a win-win scenario that has become industry standard today and is still hearing great success stories globally.
Real-Time Bidding: How Advertisers Target Specific Consumers Using Data And Automatic Bidding
Real-time bidding is a customer-centered approach to paid search.
Instead of competing for a specific space, advertisers battle for specific users.
This is possible thanks to the automatic bidding process on an online ad exchange where all available ad spaces from different sites are gathered.
Whenever a consumer types something into a search engine, an auction is created with relevant data on the user’s interests and preferences being collected from cookies stored on advertising servers.
With automated bidding software, businesses can make sure that they pay only as much as they are willing to for those specific profiles of consumers, enabling them to focus their marketing efforts and budgets more effectively.
Hence, real-time bidding provides an effective and auction-like approach to paid search that optimizes customer focus.
Wrap Up
The bottom line of this book is that in this new digital age, it is essential for companies to identify their target audience carefully and use Search Engine Marketing effectively to reach them.
To do so, companies need to determine their three most important search keywords related to their services or products.
Doing so will help ensure that paid-search ads are seen by the company’s intended customers, as well as help with optimal Search Engine Optimization.
In short, making sure you know your target customer and make full use of Search Engine Strategies is key to getting the right message out there.
