Display advertising isn’t as popular as it was in years past yet it is still highly effective, especially if employed in a strategic and targeted manner. The challenge lies in artfully presenting your advertising message in display ad form for maximum impact.
Here’s a quick look at why display advertising on an OTT marketing platform and through other mediums is still relevant in 2023.
Display Advertising Done Right
Display advertising certainly has its challenges such as comparably low clicks, interference from ad blockers and more. However, a somewhat low click-through rate does not mean display advertising is ineffective.
Overlook the fact that display ads previously had a click-through rate in over 40%. Instead, focus on how this advertising means is useful for specific purposes in 2023 and beyond.
Display advertising is especially effective with the use of rich media. Rich media is best defined as interactive and dynamic ads that are highly effective on mobile devices connected to the web. Heighten the creative element of your customer outreach campaign through display advertising with the use of rich media including search bars within banners and you’ll find the strategy boosts your conversion rate.
Video display advertising is also essential to marketing success. From boosting customer awareness of your brand to hiking conversions, video is essential to generating eye-catching banners that make a meaningful impression. Video within banner ads and those that feature even the most basic of animations heighten ad campaign efficacy through viewer engagement.
Focus on the ROI of Display Advertising
Display advertising ROI, short for return on investment, is still a net positive. However, what matters most is how much of a net positive the display advertising ROI is in juxtaposition with that of the ROIs of other forms of advertising. Crunch the numbers on display ads and you’ll find the click-through rate is around 0.06%. Though this percentage might seem low, it is still meaningful, especially if a significant number of people are exposed to the display ad.
Consider a site with half a million monthly visitors. The aforementioned 0.06% click-through rate referenced above equates to a whopping 30,000 people clicking the ad. If even a small percentage of those 30,000 visitors convert into paying customers, the money spent on display advertising will likely prove worthwhile.
An Affordable Means of Engagement
Display ads are low-cost, especially when compared to other advertising methods. Compare the cost of display ads with other advertising options and you’ll likely find you spend significantly less on display advertising to reach a meaningful number of customers.
You can maximize the efficacy of your display ads and overarching advertising budget with strategic retargeting. Retargeting is a process that analyzes exactly what visitors viewed on a website, then presents display ads based on their search habits. Such an approach proves highly effective in the context of viewership maximization, boosting retargeted user conversion into actual customers by a whopping 70%. Maximize your reach through the strategic retargeting of display ads to tap into an expansive pool of potential customers and it won’t take long for the minimal investment to go a long way.
Continue to refine your display ad retargeting by employing nuanced criteria and you’ll successfully endear previous visitors to your brand’s online footprint without a significant financial investment. Even those who merely spend a minute or less on your website have the potential to convert through strategic retargeting presented in the form of visually pleasing display ads.
Display Ads Zero in on a Specific Audience
Take a moment to consider the potential impact of a broad-based advertising campaign that connects with the masses through a commercial aired on national or local TV. Even a radio commercial or one placed in the local newspaper is broad in scope. Instead of attempting to cast as wide of a net as possible, closely analyze TV-watching statistics to focus on those most likely to need or desire your specific value offering.
Programmatic display advertising empowers business owners, managers, and advertisers to establish nuanced parameters for digital display ads. Carefully select the websites for your display ads to be presented on, the zip code/area code where those ads are to appear and the target demographic.
As an example, a restaurant owner with half a dozen locations throughout a large city or region is encouraged to use OTT display advertising to connect with those within a specific zip code who are most inclined to eat out. The scope can be narrowed even more by focusing on those who surf the web over to food and restaurant-related websites, social media pages, review directories, and other relevant pages on the web.
