YouTube paid media or PPC (pay-per-click) is a powerful channel for promoting your business through videos and advertisements on a video native platform.
Over the last few years, we have seen a tendency of people to switch from Facebook Ads to YouTube Ads, and due to this change in channel choice, many of our clients and peers ask us, what is the true potential of YouTube PPC as a channel in 2023 and beyond?
Status of YouTube Ads
With its status as the second most-visited platform globally, right after Google according to Alexa, it's no wonder why businesses are eager to utilize its potential as a paid media platform. Moreover, research conducted by Google reveals that a significant 68% of YouTube users rely on videos to inform their purchasing decisions.
This clearly showcases that the platform offers quality audiences and the chance to target the right user with the right intent.
The growing potential of YouTube is evident in its ever-expansive user base of 2 billion active users. Even if you choose not to produce organic videos and grow your channel, you can still take advantage of the platform by running ads on other creators' videos. In either case, developing a robust YouTube marketing strategy is essential.
To help you effectively promote your business and manage your YouTube marketing, we have compiled seven foundational YouTube marketing strategies.
The Potential of YouTube Ads in 2023 and Beyond
Post “recession” we have seen many media buyers retracting ad spending on all platforms, Google, YouTube, Meta, Pinterest, and LinkedIn. This has given us firm reason to believe that paid media has taken a hit in early 2023 but has also forced business and media buyers to evaluate 2 key aspects:
- Cost Per Lead and Quality Score of Leads
- Acquisition Cost Per Channel and Biggest Contributor to Conversions (BCC)
These 2 factors will determine if: a) YouTube Ads is working for your business at this time as a customer acquisition channel and b) If you are considering YouTube Ads and want to understand the landscape before making a decision.
Our research from our existing client accounts shows the following:
|Channel||Av CPC||Av CPL||Av CPA||Final ROAS|
Some of our findings have allowed us to draw conclusions that point to YouTube Ads as a channel with the potential for lead acquisition and a strong contributor to ROAS.
Let’s take a look at how you can grow your business YouTube marketing strategies beyond just Ads.
11 Foundational Marketing Hacks for YouTube Paid Media and Your Channel
To achieve your business goals and effectively engage with your target audience, it is crucial to create a comprehensive YouTube marketing strategy. By following these steps and incorporating them into your plan, you can maximize the potential of this platform for your business.
Define Your Objectives, KPIs, Budget, and Content Plan
Begin by clearly defining your objectives for YouTube marketing. Are you aiming to increase brand awareness, drive website traffic, generate leads, or boost sales? Establish specific and measurable key performance indicators (KPIs) that align with your objectives. Determine an appropriate budget for your YouTube marketing activities and allocate resources accordingly. Lastly, develop a content plan that outlines the types of videos you will create, the frequency of uploads, and the themes/topics that resonate with your target audience.
Understand Your Audience, Their Buyer Intent, and Their Preferences
To create content that resonates with your audience, it is essential to gain a deep understanding of their preferences, buyer intent, behaviors, and pain points. Utilize YouTube Analytics and other third-party tracking tools to gain valuable insights into your viewers' demographics, watch time, audience retention, and engagement metrics. This data will guide you in tailoring your content to meet the specific needs and interests of your audience.
Research Your Competition
Analyzing your competitors' YouTube presence can provide valuable insights into successful strategies within your industry. Identify your main competitors and analyze their strengths, weaknesses, opportunities, and threats (SWOT analysis). Examine the types of videos they produce, how they optimize their content, and how they engage with their audience. This research will help you identify gaps in the market and differentiate your content from others.
Optimize Your Videos for Maximum Visibility and Engagement
To increase the visibility and reach of your videos, optimize them using relevant keywords, compelling titles, informative descriptions, appropriate tags, eye-catching thumbnails, and accurate captions. Conduct thorough keyword research to identify your niche's most relevant and high-ranking keywords. By incorporating these elements strategically, you can enhance the discoverability of your videos and attract more clicks and views.
Consistent and Regular Uploads
Consistency is key when it comes to maintaining an engaged audience on YouTube. Develop a content calendar and schedule regular video uploads that align with your audience's habits and expectations. This consistent posting schedule will help you build momentum, retain subscribers, and increase viewership.
Your Channels Branding
Your YouTube channel serves as a digital representation of your brand and who we are as a business. Optimize its branding assets by creating a visually appealing channel banner, captivating icons, an enticing trailer, and a compelling channel description. Consistently communicate your brand identity and value proposition throughout your channel, fostering trust and loyalty among your viewers.
Leverage Influencer Marketing
Collaborating with popular YouTube creators in your niche can significantly boost your brand's credibility and reach. Identify influencers whose content aligns with your target audience and budget, and consider partnering with them to create authentic and engaging sponsored content. By leveraging the power of these influencers, you can tap into their established audiences and expand your brand's visibility.
Monitor Performance and Adapt Your Strategy
Regularly analyze the performance of your YouTube marketing efforts using YouTube Analytics and Google Ads reports. Evaluate metrics such as views, watch time, engagement, and conversion rates to measure your ROI. Based on the data and feedback, make informed decisions to optimize and adapt your YouTube media buying strategy. Test different variables, such as ad formats, targeting options, and bidding strategies, to identify what resonates best with your audience and yields the highest return on investment (ROI). Continuously monitor the performance of your campaigns and make data-driven adjustments to optimize your advertising efforts.
Engage with Your Audience and Encourage Interaction
YouTube is a social platform, and fostering engagement and interaction with your audience is crucial for building a loyal community. Respond to comments on your videos, ask for feedback and suggestions, and encourage viewers to like, share, and subscribe. This active engagement demonstrates your commitment to your audience and helps strengthen the connection between your brand and your viewers.
Analyze and Learn from Your Results
Regularly review and analyze the performance of your YouTube marketing efforts. Gain insights from the data and feedback collected through YouTube Analytics, social media metrics, and website analytics. Identify trends, patterns, and areas for improvement. By learning from your results, you can refine your strategy, optimize your content, and continuously enhance your YouTube marketing approach.
Stay Updated with YouTube Trends and Algorithm Changes
YouTube is constantly evolving, with new trends, features, and algorithm updates. Stay informed about the latest trends in video content, editing styles, and viewer preferences. Additionally, keep up-to-date with any changes to YouTube's algorithm that may impact video rankings or discoverability. By staying current, you can adapt your strategy accordingly and maintain a competitive edge.
Remember, building a successful YouTube marketing strategy requires time, dedication, and continuous evaluation. By aligning your goals with your target audience, optimizing your content and channel, leveraging advertising and influencer partnerships, and analyzing your performance, you can maximize the impact of YouTube as a powerful marketing tool for your business.
Contact us today and let Yugo Media help you grow your business with YouTube Ads.