2020 and 2021 have been years of major disruption — from changes in supply chains to accelerated adoption of new digital technologies. But few industries have seen as much disruption as e-commerce and retail.
McKinsey estimates that the world saw 10 years’ worth of e-commerce adoption compressed into three months.[1] The shift to an e-commerce-first paradigm took place across many markets, leading to an increase in e-commerce activity in both demand and supply of goods.
This proliferation of e-commerce businesses in turn spawned an increase in e-commerce advertising, with online businesses employing different types of paid advertising and adopting various e-commerce advertising strategies to help them reach their target consumers.
In this article, we’ll look closely at paid advertising, focusing on why it is important for businesses. In addition, we’ll share some key advertising strategies that can help your business succeed in this new digital age. We’ll then delve deeper into social media advertising and share a breakdown of the invaluable advertising tools available to you. So, let’s get into it!
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What is paid advertising?
Simply put, paid advertising is advertising that you as the advertiser have to pay for. This is different to other forms of advertising, such as advertising run on digital channels controlled by your company (owned advertising), or advertising or coverage generated through promotional activity, PR, or third-party influencers (earned...
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