Advertising »Something New«
[Tokratni blog zapis je prispevala Lucie Pokorna, vodja iskalnega marketinga v interactive.agency]
You probably don’t launch a new product or enter a new market every day. But I would assume that you certainly have special offers, seasonal campaigns, new products in your portfolio if you’re an online seller or any kind of news that you want to pitch to your target audience. Either way, whenever you launch something new, it is important to consider the so called »adoption cycle«.
The adoption cycle is a concept originally developed to describe the adoption of technical innovations. Each new technology is first picked up by a bunch of technical nerds, then spreads through the majority of population, until it is adopted by even the least progressive users:
Now, how does this tie in into online marketing? I think the adoption cycle can be applied to how you distribute your budget over time and how you split it between Display and Search advertising.
A very small group of savvy users are interested in your piece of news (new product, new promotion etc.) or a small group of users are interested in your product/service in a new market. What you want is to grow this group. This means: majority of budget in Display to build awareness, some in search using more general keywords to establish your product in the market and some for specific keywords to grab those few innovators.
Now you already have a significant group of people who are aware of your product, promotion, brand… What you want is to capture them as they are making their decision to buy. This means: Increase your budget and spend the majority of your budget in Search using fairly to super specific keywords (»D&G perfumes« to »buy D&G light blue«). Invest in remarketing on Display to motivate your already large group of potential customers to complete the desired action – a sign up, a purchase, a reservation.
Most people already know about your product, special offer or new service. Therefore, slowly decrease your budget in the corresponding campaign and invest most of it in well-performing keywords on Search.
Smartly distributing your budget will help you get the most out of it. Also, don’t forget that to make sure you have a steady income, it is beneficial to always have at least one product, market or offer that is »peaking«, while others are just being introduced or are in decline.
- What Do PPC, SEO and Content Marketing Have In Common? Keywords (business2community.com)
- Where to Put That Extra Dough in Your Marketing Budget (socialmediaexplorer.com)