As a small retailer there are many benefits to using a marketplace for advertising, especially if your current marketing strategy isn’t working the way you had planned. Using a marketplace allows you to handpick advertising opportunities that are completely customized to your niche, goals, and budget.
What’s more, marketplaces are familiar. With the ubiquity of eBay, Amazon, and others, using marketplaces has become second-nature for most of us. That means even if you’re new to advertising marketplaces you’ll find it easy to get started with one.
Let’s explore some ways a marketplace for advertising could take your e-commerce marketing strategy to the next level.
Spend less than you would on traditional advertising
Let’s face it: good marketing usually costs money. While new advertising opportunities are constantly being developed, budget constraints mean small retailers can’t benefit from most of them.
Besides the limited number of channels open to small businesses, to achieve marketing success you generally need previous knowledge in the field, a significant amount of time to test strategies, and—to be frank—some luck that allows you to share the right message at the right time. Unfortunately, even when all these pieces are in place, most marketing channels still won’t give you the kind of ROI you’re looking for.
But don’t fret! Using a marketplace for advertising to meet your marketing goals can help you keep your funnel full without overspending. Advertising marketplaces are easy to use, and the fact that they’re self-serve allows you to spend only what you want to. With less pressure on your budget, you’ll have more time to focus on your efforts and results. What a relief!
Customize your ad spend
Traditional advertising for both online and offline comes with standard costs. If you don’t have the budget to purchase a magazine ad or boost your Facebook post, you have to wait until the next month to start your campaign. And in marketing, timeliness is everything.
When it comes to purchasing ad space, the lower you go in price, the lower the likelihood of getting a decent return on your investment. You also risk spending money in ways that won’t necessarily bring you qualified leads, just because they fit into your budget. Leading with your budget can quickly send you down a dead-end road in your business growth.
Using an advertising marketplace allows you to buy ad space that fits comfortably into your budget without sacrificing the quality of your leads. Since marketplaces let you choose exactly who to buy ad space from, you can handpick brands and publishers whose audiences are most likely to engage with your message and buy from you. Full control over your audience and budget means better ROI.
Stop wasting time on negotiations
When you’re looking to set up a marketing partnership, negotiations are a crucial step on the way to making everybody happy. But growing your marketing channels is already a time-consuming endeavor, and adding negotiations on top of that only tacks on more time.
As a small retailer, wouldn’t it be nice if you could just bypass the negotiations? With an advertising marketplace, you can. Simply browse the marketplace and pick the ad package that works best for you and your budget—no negotiations necessary.
Open the door to new opportunities
As a small retailer you may not have access to the kinds of marketing opportunities, like flashy brand partnerships and pricey TV campaigns, that help larger companies skyrocket their revenue. To make these types of campaigns happen, you’d spend countless hours planning, pitching, testing, and scaling. That’s a lot of work that would take a dedicated team and significant budget to make happen.
This is where advertising marketplaces come in. Not only will you enjoy very little learning curve, but you’ll also have your pick of partnerships—often with well-known brands and publishers you might not otherwise have the opportunity to connect with.
A marketplace for advertising is the right move
Using a marketplace for advertising is the way to go for any small business on a budget. As we laid out, you can reap great rewards:
- Low cost of entry
- Customize your spend to fit your budget
- No need for time-consuming pitching and negotiation
- Access to business opportunities that might not otherwise be an option
You don’t need previous experience with marketplaces to experiment with them. You can start testing with a small budget, analyze your results, and scale as necessary. Join your first marketplace now and get ready to start seeing results!