New has a limited time. The fanfare dies down and what was new becomes settled and eventually becomes old.
When new online ad formats come out, don’t miss the boat. If you get in on them while they’re still new, you can get a higher than usual ROI.
This is because Google and Facebook subsidize their new ad units. They will invest a lot to help the new ad unit become a success and encourage advertisers to start using them. This means a lower price and a higher ROI for you.
In this video, filmed at the Titanium Mastermind in Phuket, Thailand, Mike Hill shares some newer ad formats that are worth trying.
GMAIL SPONSORED PROMOTIONS
Gmail Sponsored Promotions, or GSP, is a new form of online advertising that’s emerged in recent years.
GSP allows you to target the exact people on your competitors’ email lists. You can further target them according to other demographics as well, such as income level and geographic location. There is also the ability to target people who have visited a particular URL. This could be the checkout page for a competing product.
For example, if you want to taret people who make $100,000 a year who are on a particular list and have bought a particular product, GSP allows you to do it.
At the time of this video, Mike Hill was getting clicks for 10 to 12 cents each with GSP. The longer you leave it, the more expensive it will get.
OTHER NEW AD FORMATS
What other ad formats are new in recent years?
There are lead generation ads. You can use these on Facebook to instantly collect contact information such as email address and phone number, without requiring people to go to your website.
If you have a local business, consider local awareness ads on Facebook. These measure the awareness about your business in the area.
These are all new ad units that you can use today. Test them out when they’re still new, and while they’re still inexpensive.
The MOBE Gold Masterclass goes into more depth on this topic. It will show you how to run online ads and build a consistently profitable business using a Customer Acquisition Process. To learn more about the Gold Masterclass, click HERE.