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15 Ways To Advertise Your Business & Generate Leads In 2023

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Advertising is a crucial component of any successful business strategy. Not only does effective advertising drive brand awareness, it also attracts new leads and customers.

With so many options to choose from, it can be overwhelming for business owners to determine the best advertising methods to invest in. The key is finding the right mix of strategies tailored specifically to your business goals, target audience and budget.

In this comprehensive guide, we will explore 15 powerful advertising techniques you can leverage in 2023 to promote your brand and generate more leads.

Introduction

Advertising refers to any paid form of non-personal communication conducted through various media to promote a product, service, company or idea. The goal is to inform, persuade or remind audiences about your offering.

For small and medium businesses, the key advertising objectives typically include:

  • Increasing brand awareness and visibility
  • Generating leads and driving website traffic
  • Boosting sales revenue

An effective advertising strategy combines different tactics to meet these goals while staying within your budget.

Implementing the right advertisement mix also enables you to reach consumers at multiple touchpoints throughout their buyer’s journey. The more exposure your brand gains, the higher the chances of converting potential customers into paying ones.

So which advertising avenues should you prioritize?

Here are 15 impactful options to consider for 2023.

1. Google Ads

Google Ads, offered by the most popular search engine in the world, provides a platform for businesses to showcase ads to people searching for related products or services.

How It Works: Advertisers bid on relevant keywords. When someone searches for that keyword, your ad appears alongside organic search results. You pay only when the ad is clicked.

Pros

  • Highly targeted
  • Pay-per-click model
  • Detailed performance tracking

Cons

  • Keyword bidding can get expensive
  • Rate of return varies drastically

Tips for Success

  • Research high volume low competition keywords
  • Create targeted ad copy
  • Continuously optimize based on data

With meticulous targeting and optimization, Google Ads can drive conversions at a low cost per lead.

2. Pay-Per-Click (PPC) Advertising

Similar to Google Ads, PPC advertising also follows a pay-per-click pricing structure across advertising networks like Facebook, Instagram and LinkedIn.

You create ads which, when clicked, direct users to a custom landing page where they can convert into leads. Cost per click depends on the competitiveness of your target keywords and bid price.

Pros

  • Get in front of interested users
  • Flexible spending cap
  • Built-in analytics

Cons

  • Opens the flood gates for click fraud
  • Rigorous split testing required

Tips for Success

  • A/B test ad variations
  • Adjust bids to balance conversions and cost
  • Retarget engaged visitors

When aligned with clear goals, PPC arms you with the data needed for efficient CPL (cost per lead) generation.

3. Influencer Marketing

Influencer marketing leverages endorsements and content partnerships with industry leaders who have authority over a specific niche. Their followers view recommendations as more authentic.

It’s extremely effective at driving brand lift metrics like awareness, consideration and intent. Micro and mid-tier influencers also attain much higher engagement rates ideal for lead gen.

Pros

  • Gain credibility
  • Increased awareness & engagement
  • Highly visible with excellent reach

Cons

  • Variable content quality
  • Steep rates for top influencers

Tips for Success

  • Find right influencer fit
  • Promote UGC across owned channels
  • Track sales, not just impressions

As influencer marketing continues to hold its sway, the key is strategically choosing partners aligned with your brand and audience.

4. Social Media Ads

With 4.65 billion daily active social media users, platforms like Facebook, Instagram, LinkedIn and TikTok provide access to a captive audience.

Social ad formats seamlessly blend into native feeds through multiple placements such as Stories, Reels and the Explore page. The power comes from pairing creativity with targeting tools.

Pros

  • Highly customizable promotions
  • Target users by interests and behaviors
  • Frequent exposure drives branding

Cons

  • Ad fatigue due to oversaturation
  • Steep learning curve for beginners

Tips for Success

  • Test different formats
  • Sync ads with email campaigns
  • Analyze competitor social activity

When focused on driving site conversions over vanity metrics, social platforms cultivate and nurture leads through the funnel.

5. Email Marketing

Email is not dead, especially with a properly nurtured list. Segmented campaigns that provide value and relevant recommendations continue seeing higher engagement.

Through giveaways, lead magnets and signup forms, focus on ethical list building. Deliver personalization and purpose to develop customer relationships.

Pros

  • Direct access to prospects
  • Build loyalty and trust
  • Highly measurable analytics

Cons

  • Creating valuable content is challenging
  • Risk being labeled as spam

Tips for Success

  • Offer lead magnets in exchange for emails
  • Send behavioral-based triggers
  • Test email length, design and CTAs

Email sustains long term repeat business beyond initial conversions by fostering intimacy at scale. Start smart then optimize based on opens, CTRs and conversions.

6. Podcast Advertising

Podcast popularity has boomed with over 100 million Americans tuning in monthly. Intimate, opt-in audio content drives high engagement with listeners.

Hosts directly endorse brands during ad reads lending credibility. Podcast ads also enjoy higher recall thanks to the personal storytelling format.

Pros

  • Ad reads sound like recommendations
  • Highly engaged niche audiences
  • Broad reach through networks

Cons

  • Market lacks consistent metrics
  • Production and distribution delays

Tips for Success

  • Partner with mid-tier hosts first
  • Distribute clips as social content
  • Use promo codes to track sales

Podcast marketing captures a captive audience in a trusting environment – an ideal avenue for generating awareness and interest.

7. Broadcast Advertising

From cable TV to streaming and radio, broadcast channels provide wide reach coupled with targeting options. Placements often leverage both sight, sound and motion for compelling storytelling.

Make the most of premium ad inventory using both local stations and national networks. Budgets can scale up or down as needed to test new customer demographics.

Pros

  • Broad reach with strong branding potential
  • High visibility placements
  • Flexible spending strategies

Cons

  • Expensive media buys
  • Fragmented audiences across platforms

Tips for Success

  • Experiment with connected TV
  • Use radio to geo target
  • Familiarize yourself with jargon

Broadcast advertising moves the needle for large awareness campaigns focused on casting a wide net during customer research stages.

8. Local Advertising

Local advertising targets prospective leads in your geographic region through phone books, mailers, local TV, events or out-of-home ads.

Play up community values and hometown appeal. Build on regional pride by spotlighting local partnerships, sponsors and ambassadors.

Pros

  • Connect with nearby shoppers
  • Compete against national chains
  • Cheaper than mass market advertising

Cons

  • Limited scalability
  • Difficult to accurately attribute conversions

Tips for Success

  • Advertise at relevant community events
  • Partner with neighborhood businesses
  • Refresh ads to keep visibility

Local advertising wins on conversion rates thanks to the implicit trust customers have for area brands that support residents.

9. Referrals

Referrals from satisfied customers remain one of the most effective ways to achieve repeat sales and build brand evangelists.

They also convert at higher rates thanks to established credibility and trust through social proof.

Creating memorable experiences inspires organic shares as delighted customers showcase brands they love. You can also formalize referral programs with built-in incentives.

Pros

  • High conversion rates thanks to social validation
  • Customers do the selling for you
  • Low acquisition cost per lead

Cons

  • Can’t be forced easily
  • Risk of poor customer experience degrading perception

Tips for Success

  • Surprise and delight with value adds
  • Ask happy clients for testimonials
  • Structure referral perks based on shareability

When you wow customers, referrals feed into themselves, becoming self-sustaining lead generation machines.

10. Press Marketing

Press marketing centers on earned media exposure through outlets like industry trade publications, mainstream consumer media as well as influencer coverage.

Position leadership or company experts as thought leaders by contributing guest columns, data reports as well as expert commentary on relevant topics.

Pros

  • Heightens credibility
  • High domain authority backlinks
  • Brand lift through increased online discovery

Cons

  • No guaranteed placement
  • Labor intensive PR outreach

Tips for Success

  • Build media lists to target relevant publishers
  • Develop newsworthy pitches
  • Insert backlinks strategically

Savvy press marketing injects brands into more conversations through top-of-funnel discovery, shaping early preference.

11. Video Ads

Both social platforms and streaming TV offer video inventory delivering sight, sound and motion to capture user attention.

Align visuals with emotions and themes that resonate best with your audiences while weaving in subtle product placement or clear calls to action.

Pros

  • Highest engagement of all digital formats
  • Conveys brand personality
  • Mobile friendly delivery

Cons

  • Expensive video production
  • Potential to alienate through interruptive placements

Tips for Success

  • Experiment with different ad lengths
  • Adapt videos into other square or vertical formats
  • Test various bidding strategies

Videos that entertain and excite can be the special sauce helping ads resonate across channels with memorable impact.

12. Street Ads

Street furniture like billboards and transit ads also known as out-of-home or outdoor advertising target prospects on the move.

Dramatic creative coupled with planning the right ad locations pushes exposure with audiences as they commute daily.

Pros

  • Captures the attention of drivers and pedestrians
  • Positions brands in the real world
  • Extended ad impressions over months or years

Cons

  • Not optimizable after launch
  • Impressions don’t guarantee engagement

Tips for Success

  • Be concise with text and visuals
  • Use sequential messaging
  • Track web traffic in surrounding areas to gauge impact

When situated on commuter routes with daily impressions, an OOH strategy amplifies multi-channel campaigns.

13. Print Ads

From newspapers to magazines, print ads come to life through full page graphics, clever copywriting and strategic placement according to reader demographics.

Work with publishers to buy placement adjacent to relevant sections or align timing based on seasonal reader mindsets through tools like customer data platforms.

Pros

  • Contextual targeting
  • Creativity on full display
  • Long shelf life for publications

Cons

  • Readership decline across aging publications
  • Difficult to accurately evaluate beyond vanity metrics

Tips for Success

  • Secure premium page positioning
  • Use promo codes or QR codes to measure conversions
  • Test various lifestyle publications

The fixed nature of print ads prevents optimization but their focused reach continues showing value for retailers.

14. Events

Experiential event activations turn unknown visitors into brand advocates through immersive hands-on activities.

Dream up interactive encounters centered around products demos, unique installations or performances. Capture participant data for future remarketing.

Pros

  • Direct access to passionate niche communities
  • Brand interaction lifts awareness and trials
  • Media and influencer buzz drives further discovery

Cons

  • Logistically demanding to coordinate
  • Narrow reach from location restrictions

Tips for Success

  • Document with engaging social content
  • Travel to various industry conferences or trade shows
  • Qualify all promising new leads

Event marketing delivers powerful emotional connections amplified through community sharing both on and offline.

15. Online Webinars

Webinars provide an interactive platform to demonstrate thought leadership, deliver training or build trust with audiences.

Through virtual workshops, brands can qualify and nurture promising leads by positioning their team or partners as industry experts.

Pros

  • Hosted on an owned platform for full control
  • Lead capture through gated registration
  • Can be repurposed into evergreen content

Cons

  • Difficult to attract targeted audiences
  • Labor intensive production

Tips for Success

  • Promote across multiple channels before air date
  • Incentivize viewers to encourage sharing
  • Record to generate leads from video content

Webinars pair education with promotion for an ideal combination that speaks to modern buyers.

Choosing the Right Advertising Mix

While all the options covered have strategic advantages, no single channel can realistically meet all your KPIs on its own.

The key is allocating budget across channels balancing awareness, consideration and conversion goals based on how each stage maps to available touchpoints.

Test efficacy through small scale pilot campaigns, then double down on standout performers while phasing out any clearly underperforming avenues.

Regardless of channel split, focus on delivering coordinated messaging that feels cohesive from discovery to checkout for unified lead nurturing.

Setting an Advertising Budget

With so many options on the table, deciding an advertising budget allocation requires both art and science.

Base spends on a percentage of total gross revenue or expected lifetime value of target customer archetypes. While 10-15% of revenue is an acceptable range for growth goals, profitability objectives may require tighter belts.

Adapt budgets reverting underperformers into outsized winners for optimal ROI. Assign conversion values across micro and macro goals tied to each step in the funnel before projecting cost per conversion benchmarks, then right size resources.

Tracking Advertising ROI

Measuring advertising performance goes beyond vanity metrics like impressions to capture tangible bottom line impact.

Leverage UTMs for campaign tagging, implementing them across channels using platforms like Google Analytics. Connect online and offline data through CRM and POS integrations providing unified visibility.

Calculate conversion benchmarks for each channel around awareness, consideration and purchases. Continuously optimize creatives, targeting and messaging guided by cost per acquisition across the entire customer journey.

Build comprehensive dashboards tracking the true yield from advertising spend through the lens of revenue expansion or profitability gains rather than tactical outputs like clicks and views.

Creating Effective Ads

While tactics may differ, stellar advertising universally taps into emotions and narratives that resonate with target audiences.

Research buyer personas, including pain points and desires. Map messaging to exemplify how you elevate consumer lifestyles. Reinforce with authentic visuals capturing your brand experience.

Allow room for creativity but be ruthlessly disciplined tracking results and response rates. Let data dictate design through iterative testing not artistic preferences.

Invest in quality images, video and audio that aligns with material preferences. Adapt messaging variations addressing different emotional triggers and frames of reference.

Deliver X factors separating your offer from competitors. Lead with unique selling propositions anchored around premium value.

Modern advertising requires an integrated methodology leveraging the unique advantages of multiple formats based on campaign goals and buyer traits.

While options abound, diligently focus on delivering relevance over volume across each customer touchpoint. Treat advertising as two-way conversations conveying personality and purpose expressed through creative storytelling.

Let tangible returns measured through micro conversions at every funnel stage govern budgets rather than arbitrary top down allocation.

Amplify channels revealing traction while retooling lackluster placements based on measured lift towards KPIs.

With clarity of vision propelled by adaptability rooted in performance, advertising unlocks transformative lead generation and revenue growth.

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