I would approach running banner ad campaigns similar to any other ad campaign.
Really depends on a variety of factors. Even if you can get 1M impressions for only $100, it may not be worth it.
How to analyze an a good vs bad banner ad campaign
- is the website generating quality, qualified, interest, capable potential customers to your site or business?
- is the website generating enough click through’s to your content?
- is the website legit?
- are you tracking the ROI of your banner ad campaign?
What’s unique about a banner ad campaign versus regular display ads? Nothing really.
If you run Google Display Ad campaigns, they can be banners or vertical or square or any variety of shapes.
Personally I prefer a hybrid of display ads (aka banner ads) along with Youtube video ads to hit people on all of the platforms – but I’m obviously biased as a full time video producer over at Provid Films.
Ultimately the question comes down to conversion rate.
This video by Gary Vee hits on how to get better conversion rates for your marketing campaign.
Whether it’s a banner ad or any type of marketing campaign, ask whether you are converting customers from that campaign at a higher profitability than your costs.
If you have a million impressions and 1 conversion, is that conversion rate worth the ad spend?
This video explains things quite well.
He talks about 95% of young people never buying something from a TV ad.
He talks about retention / retargeting funnels – and those type of clickable ads do work – but plain banner ads with unfiltered, untargeted, untracked ads? No way!
Toys’R’Us believed traditional advertising worked, until it didn’t.
Despite traditional media seeing ad rates plummet as more and more budget is going to online advertising, companies still waste money on billboards and bus signs. Why though would you advertise on billboards when every single passenger you see driving down the highway is looking at their phones. So wouldn’t it be better to advertise where those passengers are looking? Online ads!
2021 vs 1991 – billboards should not have gone UP in price. At least half the audience has been eliminated from seeing it.
“We are not deploying common sense behavior against what’s actually happening with our consumers, and that is why we are becoming long term vulnerable” – GaryVeeGary Vee – Who’s Clicking Banner Ads? Jul 2, 2019
A Big difference in that we didn’t have smartphones or online personalized advertising like we do today.
Today, we can show different advertisements to every passenger in the car for the same store as you drive through the same zipcode. You can target 4 different messages to each of the 4 passengers – automatically and at scale – delivering hyper personalized retargeting versus a 1 size fits all billboard…
Whether it’s good to run a banner ad campaign for your business or not?
Really I’d look at it just as a potential tool in the toolbox – and however you run your marketing campaigns – however you determine the best ROI – don’t look at it any other way.
Invest in ad campaigns that generate trackable traffic and conversions.
I’ve seen some banner ads / websites over promise and under deliver – adding some ego of being a banner ad on a specific website… Only to realize that you could have also just ran Google display ads targeting the same domain for way cheaper.
A website (particularly niche sites) will run ads through different ad networks. So they may have a directly sold to advertisers option – and then they may also have Google ads to generate a little more revenue.