- What are you selling?
- Where are your customers most likely to be?
- What is your goal?
- What is your budget?
The nature and type of your product is very important when it comes to online advertising. Remember that not every product item is best for every advertising platform.
If you know your target audience, you should also be able to determine where they are spending most of their time. That is where they are most likely to find you or your products.
When it comes to marketplaces, there are a number of options to choose from. But, to decide which one is best for you, you need to segment your customers.
Advertising on Marketplaces like Amazon can also be a great option. There are 300 million daily active users on this platform.
With 55% of internet users skewing to Amazon to seek essential products, Amazon has been observed to even outperform Google in search intent.
When it comes to Walmart, customers are flooding into its online marketplace with nearly 120 million unique monthly visitors. Out of the millions of shoppers, 99% of them make at least one online purchase per month and 20% make at least one online purchase per day.
Your advertising strategy very much depends on what you are trying to achieve.
When advertising online, you not only want to promote your products; you also want to maximise your ROAS (Return on Advertising Spend).
Whether you are aiming for brand awareness, or re-targeting customers, or you just want to drive more sales. You need a different advertising strategy for every single part of the sales funnel.
The cost of running ads differs depending upon your industry.
For ecom, the average CPC for Google Ads is $0.66 and $0.97 for Facebook ads; whereas, the average CPC for Amazon ads is $0.89. Pretty competitive, right?
So, depending on how much you are willing to spend, you can choose between the platforms as per your budget and requirements.
To create a successful campaign, it is very important to determine where to advertise.
Ask yourself these questions before you begin.