The Power of YouTube Advertising
YouTube advertising has been on the rise lately as the platform’s reach steadily grows larger. The number of ads on YouTube has skyrocketed over the past few years, with it only continuing to rise as time goes on. You might be asking yourself “why YouTube?” There are numerous reasons why advertising on this platform is beneficial, but a few of them are simply mind-blowing.
Read below to see why you should be taking advantage of YouTube advertising right now.
Reduce Wasteful Spending
Growing a business can be a major financial burden. Knowing this, maximizing the amount of revenue generated from ads while spending as little as possible is essential. Advertising on YouTube can significantly reduce the amount of unnecessary spending on ads that are not being viewed by your target audience. You get to set your own budget and don’t even have to pay unless someone watches your video ad for 30 seconds or directly engages with it by clicking on it. In comparison, traditional ads like television commercials require you to pay upfront without being sure that people will respond to it. Also, the average cost of a 30-second primetime TV commercial in 2016 was $62,400. This is a large financial risk without a guaranteed reward. Keeping large sums of money within your business and only paying for an ad when someone interacts with it is a smarter way to advertise your business.
Improve Audience Targeting
YouTube allows you to better advertise to your specific market. This platform is especially generous to small local businesses because you can specify exactly where your ads are shown. Along with the geographic location, age ranges and user interests can also be taken into consideration. For example, if you own a local off-road vehicle repair shop you can target only users in your area who view off-road related videos. Since this is a smaller audience, running an ad on another platform runs the risk of spending large amounts of money advertising to people who aren’t even interested in what you have to say.
Expand Your Outreach
The number of people who use YouTube daily is astonishing. More than one billion hours of video are consumed each day and the platform has more than one billion active users, nearly one-third of the entire internet population. These numbers show that anyone could reach large numbers of people and generate seemingly endless amounts of views. One statistic that verifies YouTube is the way of the future is that people 18 to 34 years old in the U.S. now watch YouTube more frequently than any TV network. Advertising on YouTube will keep you up to date with this growing trend and allow you to reach even more people in the future.
Advertising has always been a competitive space. YouTube has really stepped in and helped to alleviate some of the stress being felt in this area. It’s always a great day in business when money is saved, so why not have that happen more often. Small businesses especially should take notice, advertising on YouTube could be the light at the end of the tunnel. Minimize wasteful spending, expand your reach and improve advertising to your target audience with YouTube advertising.