Ohio State is expected to promote interim head coach Jake Diebler to the program’s full-time role, sources told ESPN on Saturday night, after he took over for Chris Holtmann in mid-February following the Buckeyes’ 4-10 start to Big Ten play.
The way you run your business, the day-to-day operations, affects everything. From your reputation with customers to even your ability to get funding, all of it can be affected by business operations. This is why you have to be strategic.
Strategic Business Operations Can Promote Fundability
Most business owners do not realize this. They know that how they run their business affects success. However, most don’t get that the details of day-to-day business operations can affect fundability. Things like:
Licensing
Business bank accounts
Merchant accounts (or lack thereof)
Business website
Even tools used to manage money
All of these can affect the ability of your business to get funding. It’s not just whether your business is fundable or not. Certain aspects of how you run your business can actually promote the ability of your business to get funding, or fundability.
Business Licenses
You may be thinking, ok, what’s the strategy here? Of course you need to have your business licenses. You may be surprised to know how many business owners never think to check licensing requirements. That is, until it is an issue.
Contact state, county, and city government offices to see if there are any required licenses and permits to operate your type of business. Licensing requirements differ based on state, town, and industry. Always make sure you have the proper licensing for your corporation. You don’t want the first time you consider licensing to be when a lender brings it up.
Business Bank Account
Some business owners start out trying to use one account for business and personal funds. But the best strategy is to have a bank account devoted strictly to your business from the beginning. If it’s too late to do it from the start, start now.
First, the IRS wants to see business funds and personal funds separated. Having a separate, devoted business bank account makes that much easier. Also, your business banking history is important when it comes to fundability. Another reason this is important is one that few realize. The date you open your business bank account is the day that lenders consider your business to have started.
Say you opened your business 10 years ago. Then, 6 months ago you opened a business bank account. If you try to get a loan today, the lender might consider you to have been in business for 6 months. The longer your business banking history, the better your borrowing potential is. Don’t wait to open a bank account just for your business.
Here’s yet another way having a business bank account is a smart business operations strategy. Without one, you cannot get a business merchant account. Without that, you can’t accept credit card payments. Studies show people spend more when they can use a credit card. Even if you do not have a need for that now, you may one day. If you already have a business bank account, you’ll be ready.
Web Domain and Professional Website
Yes, there is even a strategy for your business website and domain. First, you need a business website. Customers and lenders will be looking for one. Then, pay for it to be professionally designed. It has to be user friendly, and you do not want it to look thrown together. If customers or lenders see an unprofessional business website, it will not help you.
Next, pay for web hosting. A company like GoDaddy or HostGator is best. Try to avoid using free Weebly or Wix options. You want it to be your domain, not domain.wix.com. Your domain should be your business name, if possible.
Lastly, you need a company email address for your business that is on the same domain as your website. Use a professional email address such as yourname@yoursite.com. A website domain provider such as GoDaddy will often provide this for you.
Do not use Yahoo, AOL, Gmail, Hotmail or similar free email services.
Business Money Management
Managing small business finances can be overwhelming. There are a number of tools that can help streamline the process. Options like Brex, Divvy, Expensify, Lola, and more are growing in popularity. Not only can they help you manage funds, but some of them can help you build business credit if needed.
If you are a new business, it will be incredibly useful to choose a business money management tool that will also help you build business credit. There are not a lot that will do this, but there are a couple.
Brex
Brex is a business money management system. It works with your accounting software and allows you to track expenses. Depending on the level of service you choose, it can also help with paying bills and controlling spending.
They offer a couple of options. The easiest way to use Brex for both managing finances and building business credit is to open a Brex Cash account. Note, this is not a bank, but rather a banking alternative. However, they do have a partnership with the FDIC and your funds are secure.
Everyone that opens a Brex cash account gets a corporate card. It works just like a debit card, drawing from your Brex Cash balance daily. However, unlike a debit card, Brex reports these payments to Dun & Bradstreet, thus helping build your business credit score. That, in turn, helps to increase the fundability of your business.
Since this card is secured by the balance in your Brex cash account, and limited to that balance, you do not have to worry about underwriting. They have other money management options as well for those who qualify.
Divvy
Another business money management option that helps you build business credit is Divvy. It was formerly Bill.com. This company is very similar to Brex . In fact, in a direct comparison there are just a few differences.
First, Brex charges $5 per card for additional cards to team members, unless you pay for the premium account. Then you get unlimited cards. Divvy offers unlimited free cards.
There are also differences in budgeting, reimbursement options, and software integrations. For example, Divvy integrates with Quickbooks Online and NetSuite currently. Meanwhile, Brex’s integrations with Quickbooks Desktop and Xero are said to be coming soon.
Divvy also has an offline mode, and they do not currently offer the ability to trade in points for cryptocurrency. One other major difference is that Divvy reports to the Small Business Finance Exchange.
This is a data collection agency, not a credit reporting agency. Yet, they do provide data to their partners. These partners include some business credit reporting agencies. By reporting payments to the SBFE, Divvy indirectly provides information to all SBFE partners. This can definitely help build business credit more quickly.
You Can Strategically Use Business Operations to Promote Fundability
If you are careful in how you operate your business on a day to day basis, you can promote fundability. By handling certain business operations in an intentional and strategic way, you can increase your ability to get the business funding you need, when you need it.
There are 125 factors that affect the fundability of your business. They break down into more general core principles. One such area is business financials.
Business Financials and Fundability
It probably comes as no surprise that your business financials affect the fundability of your business. But, what are lenders looking for? Is it just income and expense? Do they want tax returns and financial statements?
Start With The Basics: What is Fundability?
Initially, it may help to remember exactly what fundability is. Put simply, fundability is the ability of a business to get funding. It encompasses a number of things. The business financial information is just one. Now, let’s break down each factor within this principle.
For maximum fundability, lenders like to see at least 3 years of business tax returns. Some traditional lenders will not even consider an application without this.
Sometimes, these are the only financials they need to see. The longer your tax history, the better. Of course, all tax returns need to be up to date and taxes paid. If you aren’t paying your taxes, lenders will not believe you will pay a loan.
Mainly, they will want to see that you are solvent. That means, you can meet your obligations. Even if tax returns are enough, your fundability will be stronger if you can provide financial statements as well.
Business Financial Statements
A business financial statement includes a number of statements actually. At a minimum, most have a statement of income and expense, a balance sheet, and a statement of cash flows. Not surprisingly, they want to see that the business is profitable. With these reports, lenders can also make a number of calculations that will help them make decisions.
Typically, traditional banks have a credit analyst that does this. For new credit decisions, a credit analyst will compare financial statements for at least the past three years.
If they can get more financial history, that is even better. First, they will look for trends and patterns. Then, they will ask for explanations for major changes from one year to the next. For example, if there is a sudden increase in debts or expenses, or decrease in the bottom line, they will question that.
Audited Business Financial Statement vs. Company Prepared Financial Statement
This is why audited financial statements provide even stronger fundability. These statements will already have notes explaining any major fluctuation. Also, lenders view them as more reliable.
Of course, this makes it easier on credit analysts to make a recommendation and for underwriters to get their job done. Now, It does cost money to have financials audited. Yet, the fee is tax deductible.
Also, you can save money by making sure you are organized and prepared. Auditors typically bill by the hour, so the easier you make it on them, the less cost it is to you.
Business Financials: Ratios
Lenders also look at certain ratios to help determine creditworthiness. These are some of the most common ones used.
Current Ratio
First, the current ratio can help you understand whether a business will be able to meet obligations even if the unexpected happens. It is calculated as total assets divided by total liabilities.
Consider this example. If your business has $20,000 in assets and owes $10,000, the current ratio is 2:1. So, assets are double the amount of debt. As you might imagine, that looks good to lenders.
Quick Ratio
Another useful ratio is the quick ratio. This is similar to the current ratio, except it reduces total assets by total inventory. This is because you cannot turn inventory into cash immediately. It cannot really be used to pay obligations in the short term. If something happens and you need all the cash you can get from your assets immediately, inventory would not be part of that. For this ratio, a healthy number is 1 or more.
Debt-to-Worth Ratio
The debt to worth ratio is calculated as total liabilities divided by net worth. Net worth is simply total assets minus total liabilities. This ratio tells you, and lenders, how much you owe versus how much you own. In other words, how much of the business is really yours, free of debt.
The financials of the business, and all that goes along with them, are just a fraction of what affects fundability. In fact, when you consider out of 125 factors, 6 of them are related to business financials—a good 4.8 %.
Also, business financials are not the only financials that affect fundability. Other factors include:
Personal financials
Personal credit history
Data Agencies
And bureaus
If you take all of these into consideration, you end up at around 27%, or about one quarter. The Fundability Codex below gives a good visual.
It’s important to note that not all fundability factors are equal. Honestly, some do affect fundability more than others. Still, it’s easy to see that there is much more to fundability than just the business financial information. It’s true, having bad financials will get you denied by a traditional lender almost certainly. But, having good financials doesn’t guarantee approval. Really, you need strong overall fundability. Are you wondering about the fundability of your business? A free consultation with a business credit expert can help.
Word-of-mouth marketing is one of the most valuable forms of advertising. After all, why wouldn’t you want customers to rave about your business to friends and family?
Word-of-mouth referrals are great advertising for your brand and an enormous confidence booster for would-be buyers. From a potential buyer’s perspective, if your existing customers are happy enough with your company to recommend it, that speaks volumes about your business.
Ninety-two percent of customers say they’d buy based on the recommendations of their friends and family. Not only that, but more people are reading online reviews than ever before, according to BrightLocal.
That’s why you want to encourage your satisfied customers to promote your business by sharing their positive experiences.
However, getting those word-of-mouth referrals isn’t so easy. Here’s how to encourage customers to spread the word.
How to Convince Your Customers to Give You Word-of-Mouth Referrals
Ideally, word-of-mouth marketing achieves two goals: encourage your customers to make word-of-mouth referrals to friends and (ideally) pass on their friends and family member’s details so you can market to them directly.
The following tips help you with both these goals.
Provide the Best Experience Possible
You won’t gain word-of-mouth referrals if you provide a poor experience. Today, the customer experience is one of the most crucial parts of the sales process, especially when it comes to word-of-mouth recommendations and social sharing.
When you’re seeking continual growth, brand advocacy, and retention, the simplest strategy is to provide a stellar customer experience.
Deliver Quality Every Time
If you’ve spent even a few minutes online, you’ve likely seen negative reviews. There’s a good chance they’ve stopped you buying from a business, too.
When you’ve got dissatisfied customers, they don’t stop at telling their friends and family: they often go online and write a bad review. Even worse, they go on social media and detail their poor experience for an even wider audience to see.
Deliver quality every time and if your products and services are falling short, own the problem and fix it.
Want a tried and tested way to get your regular shoppers to recommend others? Then start a referral program. Start by creating an appealing offer for your customers. Maybe a discount for each new person they refer, prizes for referring a certain amount of people, or a small commission.
A great example of this is the Morning Brew newsletter. It gives incentives like merchandise and monthly exclusive events and makes it easy for their existing readers to spread the word.
Subscribers to the newsletter click on the blue “click to share” button, and they’re taken to a referral link, an email invitation, and social media buttons for sharing.
Promote Engagement Through User-Generated Content
Gain attention and engagement with user-generated content. Of course, UGC advertising won’t always start organically, so give your customers a nudge by launching an official campaign.
Netflix, Starbucks, and Adobe are three companies doing this well. Whether it’s launching contests, creating branding advocates, or encouraging social shares, you’ll learn a lot from these brands and the methods they use.
Get Behind a Cause
Another way to get your customers to bring in word-of-mouth referrals is to get behind a cause. This could be something close to your company’s heart, a local non-profit, or a high-profile fundraising event.
Consumers are always keen to spread the word about a good cause, which means there’s an excellent chance they’ll pass it on to friends, family, co-workers.
How to Target Word-of-Mouth Referred Customers in Paid Ads
There’s organic word-of-mouth marketing, then there are amplified word-of-mouth referrals, where you launch paid online campaigns to maximize your marketing efforts. Below is a step-by-step guide on how to target referred customers with paid ads.
1. Choose an Ad Platform
You’re looking for a platform where your typical audience hangs out. For instance, if you’re targeting a younger audience, you might choose Instagram. TikTok is another option that is popular with the under-thirties.
For older age groups, Facebook could be ideal. If it’s business-related, then LinkedIn is your obvious choice.
2. Set a Goal and Budget
Each social media platform offers paid advertising. For example, Twitter has its promoted and follower ads and there’s no minimum budget.
Before deciding on your campaign budget, be clear on your business goals. For instance, is it gaining newsletter subscribers? Or sign-ups for a free trial? Whichever goal you choose, make it measurable and trackable.
Also, think about your ideal ROI and the percentage of your digital marketing budget you’re willing to spend.
The ideal number is 15-25 percent of the business’s overall digital marketing budget, according to Web Strategies. To make this part easier, Web Strategies provides a free digital marketing budget calculator.
3. Offer an Incentive
Offer your prospects an incentive—and make sure to put some thought into it. You’re looking for something your prospect finds useful and helps you reach your business aims. For example, if you want newsletter subscribers, consider an e-book with hot tips or a cheat sheet related to your business or industry.
Cheat sheets and e-books work well because you can create them once and then automate their delivery. Another example is discount vouchers for sharing their thoughts. Be sure to make your discount time-sensitive to create a sense of urgency.
4. Write Your Ad
Next, write your ad. Your first step is ensuring you’re using the language that resonates with your audience. However, there are other factors to consider in your ads, such as:
clearly communicating your offer
keeping your social media copy consistent with your overall tone/brand voice
using targeted ads to personalize them to your ideal audience
Don’t be afraid to get creative. As you’ll see in the word-of-mouth advertising examples below, creativity is a great way to get customers talking.
5. Track, Test, and Try Again
Finally, test and track your campaigns and evaluate the results. Specific areas to test include:
CTAs (Call to Actions)
colors
content
visuals
Remember evaluating and A/B testing are ongoing processes, so keep tracking and testing over time. If your ads aren’t delivering your desired results, then tweak as needed and try again.
Examples of Ad Campaigns for Word-of-Mouth Referrals
Media-savvy companies know what it takes to get people talking about their adverts and sharing them. Although the following ads are offline commercials, they use the same approach in their digital marketing and social media efforts.
Let’s look at a few of the best examples of word-of-mouth advertising.
Coca-Cola
Coca-Cola has done more than its fair share of word-of-mouth advertising campaigns, from personalized bottles to broader issues like social isolation. However, the brand took its advertising to a new level with its Coca-Cola bears reacting to a Super Bowl in real-time.
The result? Everyone loved it. They felt like they were part of the Superbowl and part of the conversation. Apart from drawing viewers in, what made the advert so effective was those happy viewers were quick to share it with their friends and keep the word-of-mouth referrals going.
The advert worked so well because it engaged viewers from the first look, and the novelty value made consumers keen to pass it on.
BrewDog
The UK-based company BrewDog isn’t just great at developing craft beers. They’re also pretty good at creating share-worthy campaigns. You know, the kind of ads that get customers talking—and sharing.
A while ago, BrewDog put together “the most honest advert you’re ever going to see.”
BrewDog went with the bare basics rather than spending a small fortune on glitzy campaigns, including an image of their product, loud music, and not much else. BrewDog then teamed its adverts with an equally bland billboard and bus campaign.
As BrewDog itself put it:
Other brands spend big here investing in massive narratives, intricate Game of Thrones-themed visuals and slick films.
So we didn’t.
Crucially though, BrewDog’s advert was shown in the ad breaks of TV shows or events that get vast audiences, like Game of Thrones and the FA Cup Football Tournament.
By defying convention BrewDog, got itself noticed, even without spending vast amounts of money on its advertising.
In addition, the company isn’t scared of mixing it up or of courting controversy. And as everyone knows, controversy gets us talking, especially in the days of social media.
Despite its varying approaches, one thing that remains consistent with BrewDog is its dedication to revolutionizing the craft beer industry. In other words, whichever angle BrewDog takes, it stays true to its values.
Cadbury
It’s no secret that word-of-mouth saved Cadbury from an uncertain future. After a salmonella outbreak left the company reeling, it came back with a strong marketing campaign.
It wasn’t your typical Cadbury’s advert, which may be why it worked so well in turning Cadbury’s reputation around.
The advert, which featured a chimpanzee playing drums along with Phil Collins’ “In the Air Tonight” got everyone talking.
Then there was the big question people are still asking today: is it really Phil Collins in the chimpanzee outfit? (The answer’s “no,” by the way.)
Aside from making Coca-Cola, BrewDog, and Cadbury all have something else in common. They all use the same level of creativity in their social media campaigns, engaging users and inspiring them to share content.
What can you learn from these brands? Daring to be different, changing styles, and being novel enough to get people talking gets customers sharing is something every business can do.
How to Track the Success of Word-of-Mouth Paid Ad Campaigns
How do you track the metrics for your word-of-mouth campaigns? Although you might have a bit less data than you do for your website, there are plenty of ways to track your success.
Track your UTMs
Urchin Tracking Modules show you how visitors interact with your website. Use tracking tools like Heap Analytics to monitor website visits and add UTMs to your ads and social media posts.
Monitor impressions
How often are paid ads viewed, and what do the impressions tell you regarding your campaign’s reach?
Measure referral traffic
If you’re running an affiliate or referral scheme, how many impressions, click-throughs, and sign-ups are you attracting? Use affiliate tracking software to do this.
Conduct a competitive analysis
What keywords are your competitors targeting? Use a free or paid keyword research tool to find out, like Ubersuggest or the Ubersuggest Chrome extension.
Word-of-Mouth Referrals FAQs
How do I know my word-of-mouth referrals are effective?
By tracking metrics like UTMs, impressions, and through competitive analysis.
What are the best ways to get organic word-of-mouth referrals?
Apart from directly asking customers, you can offer rewards, encourage UGC and online reviews, and consider fundraising for a good cause. Paid ads can also be highly effective, when used carefully.
Why is word-of-mouth marketing so important?
Word-of-mouth referrals are vital because potential buyers trust the opinions of friends and family. Word-of-mouth customers also tend to spend more money.
What’s the difference between organic and amplified word-of-mouth referrals?
Organic word-of-mouth referrals are free, and you get them through reviews, links, USG, social media, etc. With amplified word-of-mouth advertising, you’re paying for targeted ads.
Word-of-Mouth Referrals Conclusion
Word-of-mouth referrals are an effective method for attracting and retaining customers. When people are spreading the word about your business, whether through reviews, referrals, or UGC, they’re doing your marketing and getting the word out to a wider audience.
Consumers trust their friends’ judgments more than anything else. That’s why word-of-mouth referrals are crucial to grow your brand.
While you could take the organic approach, you can also use accelerated word-of-mouth campaigns to gain customers’ attention and target them directly.
Whichever approach you take, remember tracking your metrics is vital for measuring the effectiveness of your campaigns.
Do you use word-of-mouth marketing? Which tactics do you use?
If you’re serious about digital marketing, you’ve likely spent thousands of dollars on testing, experimenting, and workshopping only to find that you simply aren’t reaching your target audience.
That’s where Amazon Posts comes in.
Amazon is doing more than just integrating social with online retail. Their Posts initiative reimagines what social media marketing could be, and it might just be the answer to some e-commerce sellers’ problems.
What Are Amazon Posts?
Amazon Posts is Amazon’s social media initiative designed to help shoppers find new products and engage with their favorite brands.
Essentially, this is Amazon’s version of Instagram. Posts allow brands to create and promote product-related content, directly linking to specific product listings. All your posts will appear on your brand’s feed.
Your content is visible to shoppers on product detail pages, related product feeds, and category-based feeds. Amazon is presenting brands and businesses with an opportunity to market directly to their audience, within Amazon itself.
As a business owner or marketer looking to expand their social media marketing (SMM) strategy, Amazon Posts offer a unique approach to content. Instead of creating content on the latest social media site and linking to an Amazon account, brands can engage with users already on the Amazon platform, driving sales and engagement.
Access to shoppers that are already engaging with Amazon is part of what makes Amazon Posts such an interesting marketing tool. That access can reduce friction, one of the most frustrating hurdles for marketers to overcome.
Why You Should Use Amazon Posts to Promote Your Products
Platforms like Amazon and social media release new features constantly. So, what are the benefits of investing in this new feature? Let’s look at why Amazon Posts matters for e-commerce brands.
Reach a Wider Audience
Amazon is the most popular buying app in the United States, reaching more than 150 million buyers every month. Amazon Posts helps your brand connect (and convert!) those buyers. Plus, unlike ads on platforms like Facebook and Instagram, Posts let you reach more buyers for free.
A wider reach for free? It’s hard to argue with that.
Reduce Buyer Friction
When we discuss friction in marketing and sales, we’re typically referencing potential sticking points and objections customers encounter in their journey from a potential sale to conversion.
That friction can become a tricky issue because just about every decision a customer makes can lead them to friction.
From a marketing standpoint, your job has two layers. The first layer involves removing as much friction from the customer journey as humanly possible. However, your business can’t remove every single friction point. Eventually, the customer is going to encounter a “yes/no” situation.
That’s why the second layer of marketing involves creating marketing experiences and content compelling enough to keep shoppers moving past the friction points you can’t eliminate.
Every form of marketing has its friction points, but Amazon Posts aims to address two of the biggest issues in marketing.
When your brand promotes its content on Amazon, you don’t have to ask shoppers to follow you to another site. They’re already where they need to be! Plus, with Amazon’s streamlined, high-level approach to the shopper experience, your brand can leverage its expertise and create compelling customer journeys.
Competitive Product Visibility
The term ‘competitor analysis’ is referenced frequently in digital marketing, and with good reason.
Your brand is probably not the only option for product X or service Y. Whether your brand has 10 competitors or 50, your brand’s priority is standing out and connecting with potential shoppers.
Savvy brands and business owners analyze the advertising channels their competitors use. How are they writing their copy? How often are they producing content? Where are their ads appearing? What keywords are on their landing page? These are the questions that drive critical analysis.
Brands ask themselves these questions for one simple reason. When you understand how your competitors think, operate, and promote themselves, hijacking their audience becomes much easier.
Promoting your content through Amazon Posts means your products can land on ‘related product’ feeds so you can directly advertise to your competitor’s audience when the shopper is primed to make a purchase!
With access to over 150M monthly users, your brand can’t afford to sit on the sidelines and let your competitors dominate the Amazon Posts space.
Who Should Use Amazon Posts to Promote Their Products?
Clearly, there are quite a few perks to using Amazon Posts, but that still leaves us with one question. How can you know if Amazon Posts is a good fit for your brand?
You wouldn’t promote exercise equipment on LinkedIn or professional SaaS business solutions on Snapchat. Every audience has a unique social media experience, and understanding how your shoppers see the world is part of building an effective marketing strategy.
Fashion brands are in a fantastic position with this platform. Promoting high-quality images of your products right next to your competitors? It’s a dream come true for most fashion brands.
Still, there are plenty of other brands that can leverage the Amazon Posts space. If your brand has tons of relevant social media content, you’ll be able to repurpose that and promote it directly to Amazon shoppers.
However, there are a few things that your brand should keep in mind before diving into the Amazon Posts ecosystem.
Your brand must actively sell products on Amazon to qualify for this initiative. Fortunately, Amazon Posts is a free platform, which means you can legitimately compete with larger brands.
If your brand has taken the time to create high-quality images, this is a perfect way to not only maximize their value but explore a unique form of consumer marketing.
How to Create Amazon Posts
Now that you’ve decided to get started, it’s time to start creating posts. This process is relatively straightforward. Start by visiting the official Amazon Posts website and signing in using your advertising console or Seller Central credentials.
Once you’ve done that, you’ll create a profile by verifying your brand name, uploading an image of your brand’s logo, and just like that, you can start creating posts on Amazon.
Each Post has five key elements: a brand name and logo, the promoted image, a ‘show product’ button, a caption, and tags. Most of those elements will sound familiar if you’ve spent time promoting on Instagram, but the implementation of tags is a bit different on Amazon.
Instead of hashtags on Instagram, which let you control where your post appears and what it’s related to, Amazon auto-tags your post and automatically determines which feeds it will display on.
Tips to Create Amazon Posts That Successfully Promote Your Products
Now that you know what Amazon Posts are, let’s talk about how to make them work for your brand. Here are three tips to make the most of this new feature.
Post Often
This is where SMM shines. Creating a post on Amazon is entirely free! Instead of having to manage an ad budget, your brand can focus on creating and sharing as much relevant content as possible.
Developing a relationship with shoppers takes time, so the sooner you get started, the better. To ensure regular content updates, schedule your posts through the platform. With scheduled posts, you can simplify your marketing efforts and consistently engage with your audience.
Daily posting is a good place to start, but if you have an extensive backlog of content, feel free to schedule more. Remember to experiment here, to make sure you aren’t overwhelming your audience!
Content Is Still King
We’ve tackled the “quantity” component, but it’s important we address the “quality” component as well.
No one, and I do mean no one, enjoys spam. Instead of overloading your audience with every single possible image, think like an art curator. Your brand is made up of dozens, maybe even hundreds of unique content pieces. Which pieces are exceptional? What kind of customer will want to engage with a particular piece of content?
Crafting remarkable pieces of content is great, but crafting memorable marketing experiences is what drives conversions. Use this platform as an opportunity to explore exactly what your brand and your content is capable of.
Monitor Campaigns and Metrics
Some brands view marketing campaigns as a mad dash for awareness. Don’t get me wrong, traffic is definitely important, but truly effective marketing is about more than just visibility.
As a marketer, I don’t just want to be seen. I demand to be heard, and when my content doesn’t drive conversions, something needs to change.
This is what makes monitoring your campaigns and metrics crucial. If you’re new to Amazon Posts, it’s not enough to simply start posting. You need to determine clear marketing objectives, campaign strategies, and content initiatives.
Social media platforms change constantly and understanding how those changes affect your campaigns makes it much easier to adapt and evolve.
Examples of Successful Promotional Amazon Posts
If you’re worried about what kind of content to create, or how to define your visual branding, take a page from an e-commerce store and just let the product speak for itself.
VIKICON offers a relatively small caption, a decent product offering, and some saturated tags. The image itself demands attention.
Bold, eye-catching visuals are a powerful way to tell your entire brand story without saying anything at all. Sometimes, less truly is more.
Likewise, KIWI Design understands the appeal of its product. Getting lost in a virtual reality world is about more than just computational capacity and frame rates. It’s about the shock and awe of diving into an immersive digital experience.
My favorite part about this image? It also sells you on the value of the ceiling pulley system! If you want to get lost in a digital experience, the last thing you want to deal with is tripping over cables.
Conclusion
Social media marketing is crucial to building a relationship between consumers and sellers. Our capacity to connect in honest, meaningful ways directly impacts how well our business does. Amazon Posts serves as a bridge between social media marketing and a straight e-commerce experience.
Amazon Posts is interesting mostly because it reduces friction and integrates so well with the Amazon platform. That being said, there are brands with dynamic visual content that are perfectly suited for this environment.
If your brand falls into that category, don’t waste any more time. Get to strategizing and see how well you can connect with shoppers on Amazon Posts.
If you want to learn about other innovative ways to promote your e-commerce company, let our agency know. We can keep you in the loop and partner with you to integrate custom digital marketing strategies.
Are you planning to leverage Amazon Posts? What results are you hoping to see?
There’s a lot of competition, but podcast consumption has also increased exponentially.
Thirty-seven percent of US adults have listened to podcasts, a three-fold increase compared to the last ten years. Podcast listeners also tune in to an average of seven different shows per week, and 80 percent listen to the entire or most of each episode.
The podcast industry has a bright future. Both the number of podcasts and podcast listeners have spiked.
One of the most effective ways to promote your podcast audience is using paid ads.
Here’s how to do it.
Why Should You Create a Paid Ad to Promote Your Podcast?
Paid ads provide a fast and effective way to promote podcasts and increase brand awareness. Unlike content marketing, which takes a ton of time, paid ads can quickly grow your audience in a matter of weeks.
Here are a few other benefits of paid ads:
Widen reach: Not getting enough listeners? Paid ads are an effective tool to boost your audience. Ad targeting makes it easier to get your podcast in front of your target audience.
Set your podcast apart: What topics do you discuss on your podcast? Why should people tune into your episodes? A PPC ad can highlight what sets your podcast apart from its competition.
Cost-effective advertising: PPC is a cost-effective way to promote your podcast because you pay based on clicks, impressions, or conversions. Most social media platforms also provide metrics on your advertising results, so you get your money’s worth.
Types of Paid Ads to Promote Your Podcast
A wide range of platforms offer paid ads you can use to promote your podcast, such as Facebook, Google, Instagram, Snapchat, TikTok, and Discord. Below, we’ll cover why you should consider each platform and the types of ads they offer.
Google Ads
Google ads appear when users search for your business or use business-related keywords in their Google search. This lets you reach one of the widest audiences of any platform.
Types of Google ads include:
text
responsive
image
app promotion ads
video
product shopping ads
showcase shopping ads
call-only ads
Facebook Ads
Facebook ads let you promote your social media page, posts on your social media page, or your podcast website. You can target users based on their demographic, geographic location, or profile information. Facebook ads are also an ideal way to build a community around your podcast, helping it grow.
Types of Facebook ads include:
image
video
carousel
instant experience
collection
Instagram Ads
Instagram ads are ideal for those who want to promote podcasts through high-quality photos and gorgeous visuals. You can also share short clips, highlight behind-the-scenes images, or share links to podcasts. With more than a billion monthly active users, Instagram reaches a massive audience.
Types of Instagram ads include:
images
videos
carousel
stories
Snapchat Ads
Snapchat ads leverage unique advertising features such as augmented reality, face swap, and engaging filters to boost brand awareness and promote podcasts. These ads can also reach a younger audience, with the average Snapchat user being between 15 and 25 years of age.
Types of Snapchat ads include:
single image or video ads
filters
lenses
story ads
product catalog ads
commercials
TikTok Ads
TikTok ads require users to set up an ad campaign to reach their target audience within 24 hours. The platform is newer, which means ads can be more affordable than more established platforms like Google and Facebook.
TikTok ad types include:
in-feed ads
branded hashtags
top view ads
branded effects
brand takeover
Discord
Discord Servers or chat rooms are filled with like-minded people who want to communicate on a game, topic, or any point of interest. If you have a Discord server dedicated to podcast listeners, head to Advertise Your Server (AYS). You can promote your server and attract dedicated listeners.
LinkedIn Ads
LinkedIn ads are ideal for podcasters who want to target a professional audience, such as business owners or working professionals. While it might not be the right platform for all podcasts, LinkedIn still boasts more than 37 million members and has high engagement rates.
Types of LinkedIn ads include the following:
single image ad
carousel image ad
video ad
text ad
dynamic ad
sponsored messaging
How to Decide Which Paid Ad Campaigns Are Right for Your Podcast
Since several platforms offer paid ads, which is best to promote podcasts? There is no one right answer; you’ll need to consider your niche, audience, budget, and ad types each platform offers.
We discuss all these factors in-depth below.
1. Niche
Your podcasts’ niche or industry plays a big role in deciding which platform to choose.
Are you selling software for the B2B industry? PPC campaigns on LinkedIn will be key to attracting like-minded podcast listeners. Are you a beauty or lifestyle brand? Instagram ads with gorgeous models and pretty products will likely drive the best results.
Most paid ad platforms have distinct ad targeting capabilities. Before you start creating ads, make sure you know who you want to reach.
What are their likes and dislikes? Where are they located? What is their gender?
The more information you have, the easier it will be to create targeted ads your audience is likely to respond to.
If your podcast wants to pique the interest of Gen Zers, think about launching TikTok ads. A food-themed podcast could also use gorgeous food-themed pics on their Instagram paid ads.
The Pew Research Center has a social media fact sheet where you can determine the preferred platform based on demographic data.
3. Cost
Every platform has a distinct bidding process. Advertisers are charged based on their goals or objectives such as clicks, impressions, or conversions. The average cost will also differ depending on your niche or industry.
To maximize your revenue, consider the cost of the ads and its results. You can also run a survey of your listeners to determine the platforms where your audience is most active.
4. Ad Types
Different ad types will yield different results and perceptions of your podcast.
Some ad types will resonate with your audience better. You’ll need to experiment with different ad formats to find out which works best for your target audience.
For instance, advertisers who want to launch a unique branded campaign using filters or lenses could focus on Snapchat. Those who find carousel ads effective may leverage Facebook or Instagram.
Take the time to research your audience and test a few platforms. If one type of ad converts at a higher rate, you’ll want to stick to platforms that offer that ad type.
Tracking and Measuring the Success of Your Podcast Promotion Campaign
Besides your iTunes ranking, there are several other ways to track the effectiveness of your paid podcast campaign. Here are a few metrics and KPIs to gauge the success of your paid ads campaign.
Direct and referral traffic: Refers to the spike in traffic due to paid ad campaigns posted on social media websites or search engines.
Downloads per episode: The number of times your podcast episode is downloaded on a computer, mobile device, or tablet.
Exclusive offer code: Consists of a coupon code which is read on-air by the host to track conversions linked to the ad campaign.
Cost per thousand (CPM): Refers to the amount the advertisers pay for a thousand impressions on the paid ad.
Cost per acquisition (CPA): The amount spent to acquire a new podcast listener or customer as a result of the paid ad campaign.
Bounce rate: The rate at which people leave the website without continuing to browse to other pages. Most PPC ads lead potential listeners to the podcast’s website or a landing page. If you experience a high bounce rate, consider customizing your landing page to improve results.
Time on site: This refers to the average time that interested listeners spend on their visit. The time spent on your site can determine whether podcast listeners are engaged with your episodes.
Conversion rate: The average number of visitors who converted into podcast listeners.
Return on Ad Spend (ROAS): The profit earned after spending a specific amount on launching paid ad campaigns.
Customer Lifetime Value (CLV): Refers to the amount spent throughout your relationship with your customer.
Budget attainment: Amount spent on PPC ad campaigns monthly
Tips for Creating Paid Ads to Promote Your Podcast
At this point, you’re probably looking to create your podcast ad. As someone who has launched many PPC campaigns, here are tips to promote podcasts through paid ads.
1. Choose the Right Advertising Image
Podcasts may be audio, but people are attracted to PPC ads because of images. Use an attention-grabbing image that matches the theme and subject of your podcast.
The Tim Ferris show has a video ad with a compelling illustration of the podcast host. Clicking the play button plays a persuasive quote that encourages listeners to check out the entire episode.
2. Target the Right Audience
Test PPC ads to narrow down your target audience.
When you know your audience, you can leverage ad targeting capabilities to lower your costs and improve conversions.
Let’s say you have an upcoming episode about cooking from a popular local celebrity. You can narrow your audience based on location and a particular theme of the episode.
Likewise, you can also promote podcasts by modifying targeting options based on an episode’s content. A/B testing can help identify the ideal ad sets and demographics of your target audience.
3. Test Your Ads
To increase CTR and decrease ad spend, test ads with different images or copy. Like Tim Ferris’ ad in the previous section, most podcast ads consist of an audiogram or a short clip with subtitles.
I recommend testing various audiograms to find out which works best in generating clicks or conversions. You can also lead users to the website or landing page where they can listen or download the particular podcast episode featured in the ad.
4. Monitor Your Podcast Ad Results
Most advertising platforms provide analytics to track the results of your campaigns. Facebook campaigns can be tracked with Facebook Analytics while Instagram ads can be tracked with Instagram analytics, and so forth.
For every social media platform you use, check the data consistently. Use this information to improve the paid ad campaigns in that channel.
Examples of Paid Ads for Podcast Promotions
Not sure how to promote podcasts with paid ads? We’ve compiled a list of compelling examples to inspire your own.
1. iHeartRadio
iHeartRadio’s paid ad aimed to promote their Ron Burgundy podcast. It includes a short audiogram which provides listeners a sneak peek of their discussion on how the brain works. Curious listeners may be compelled to click the ad to listen to the entire episode.
2. Goldman Sachs
Podcast ads usually have an audiogram, but it doesn’t mean your ads should stick to the norm.
The Antigen podcast by Pfizer explores the political, scientific, and cultural elements of vaccination.
Their paid ad begins with the compelling question, “Do you like podcasts or science?” If the answer is yes, you can check out their podcast about COVID-19, potential treatments, and past pandemics.
Their paid ad campaign shared a snippet of a father’s inspiring story with his little girl born prematurely. The caption and the featured snippet will draw new parents’ who can relate to the content.
They also have an image of a mother cradling a baby, which can attract the attention of parents.
Conclusion
Paid ad campaigns can help boost awareness for your podcast and attract new listeners.
To maximize your results, use a compelling image, target the right audience, test paid ads, and make sure to monitor results. Tracking and measuring the success of your podcast promotion campaign will also help you monitor your results.
As you get more data, you can determine the most effective ad type and ideal targeting techniques for cost-effective spending. Here’s to hoping these tips will help you to promote your podcast and grow your audience.
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