Paid advertising is any type of advertising that you need to pay for as opposed to owned or earned advertising. With paid advertising, digital marketers pay the owner of ad space in return for the use of that space. The price which is paid for the ad space is often paid through a bidding process between marketers and the ad space owner.
Efficient digital marketing campaigns capitalise on all channels for advertising. Although paid advertising costs more than opposed to owned or earned advertising, paid forms of advertising are an efficient way to expose your company’s name to a broad audience.
Forms of online paid-for advertising
A sponsorship can provide a good opportunity to increase brand awareness through online affiliation with an organisation such as an industry partner or related non-profit, especially in the health-care industry.
Make sure that your customers also trust the organisation that you are sponsoring and, through their goodwill, you should receive increase brand exposure. Text links, banner ads logos are the most common types of sponsorship. This can be a fantastic way of promoting your products or services through another company’s websites, newsletters, events and competitions.