The Case for Spending Media Budget on Microsoft Ads (Formerly Bing Ads)

Online advertising is becoming increasingly popular, with so many channels to pick from, and so many marketing strategies to choose from, it can be difficult to know which one is best for your business. It is a dynamic landscape out there and staying on top of the latest platforms is crucial for any business to succeed.

Like so many other businesses we tend to stick to the ones we know, Google Ads & Meta Ads taking priority, However, what if we were to tell you that Bing (aka Microsoft Ads) is becoming a more relevant and valuable platform that you should consider taking seriously in 2024. We have seen some great results from our clients, and we want to share our reasons for considering Bing in next year’s marketing strategy.

1. The Growing Importance of Microsoft Ads (Formerly Bing Ads)

Bing has steadily increased its market share over the past couple of years with 9.19% of users worldwide now using Bing as of July 2023. Those figures don’t seem impressive, but when you consider that 5.06 billion people regularly use a search engine, that figure becomes a lot bigger (and for quick math, we can safely assume that 465,073,400 people use Bing yearly)

Long are the days that Bing was in the Shadows of Google, with that increasing market share it is offering a genuine alternative with substantial potential for advertisers. That number continues to grow YOY and if you’re wise, you should use this as a platform of choice.

2. Diverse Audience Reach

Like most other platforms, Bing’s user base includes people from various age groups, income levels, and educational backgrounds. However they do tend to differ from those of Google in several ways, and understanding these distinctions can help advertisers leverage the unique opportunities that Bing offers. Here’s a comparison of Bing’s user demographics with Google’s:

• The platform tends to attract an older audience. A significant portion of Bing users falls in the 45-64 age group, making it an ideal platform for businesses targeting this demographic.
• Naturally, the audiences tend to have higher average incomes. This can be advantageous for businesses selling high-end or premium products and services, as they can reach an audience with greater purchasing power.
• Bing tends to perform well in certain regions, including the United States, where it has a significant share of the search market. Advertisers looking to target specific geographic areas may find Bing more advantageous in some cases.
• Bing has a strong presence on desktop and tablet devices. This can be beneficial for businesses with products or services that are more commonly researched and purchased on these devices.
• It is also a great platform for B2B advertisers as most companies operate on Windows computers which naturally have Bing set as their preferred search engine on the Edge Browser

3. Cost-Effective Advertising

One of the key advantages of using Microsoft Ads is its cost-effectiveness. These ads frequently offer a lower cost per click (CPC) when compared to platforms like Google Ads. This lower CPC presents businesses with a notable opportunity for cost savings, making Bing an attractive option for advertisers seeking to maximize the value of their advertising budget.

Here are a few examples and statistics to illustrate how Microsoft Advertising can offer a lower CPC compared to other platforms:

• Industry-Specific Cost Savings: In various industries, businesses have reported achieving significant cost savings with Bing. For instance, a study in the finance sector found that the average CPC was 29.45% lower than Google Ads.
• Competitive Bidding Advantage: Due to its smaller market share, Bing often experiences less competition. This reduced competition can lead to lower CPCs, allowing advertisers to secure top ad placements without the need for highly competitive bidding wars. As a result, businesses can maintain a strong online presence while keeping costs in check.
• High Conversion Rates: Some businesses have reported that despite the lower CPC on Microsoft Advertising, they experienced comparable or even higher conversion rates when compared to Google Ads. This means that not only are you saving money on each click, but you’re also achieving similar or better results in terms of customer actions like purchases or sign-ups.
• Geographic Savings: Depending on your target market, Bing Ads can be particularly cost-effective. In certain regions, Bing’s user base may be more engaged and receptive to ads, resulting in a lower CPC and higher ROI.

4. Integration with Microsoft Ecosystem

Integrating Microsoft Ads with the current ecosystem offers several compelling benefits for advertisers. One of the primary advantages is access to a broader and more diverse audience. Microsoft’s ecosystem includes a range of popular platforms and services, such as Windows, Microsoft Office, Outlook, and Xbox. This integration extends your advertising reach to users who engage with these products and services, providing a valuable opportunity to connect with a wider and more varied customer base.

The integration with Microsoft allows for enhanced targeting options. Advertisers can tap into the wealth of user data from Microsoft’s ecosystem to create highly targeted ad campaigns. This data includes user preferences, interests, and behaviors across various Microsoft services, enabling advertisers to refine their targeting to reach the most relevant audience segments.

Combining advertising with the Microsoft ecosystem can significantly improve your strategy and reach in several ways:

• Leverage User Data: Access to user data from Microsoft services empowers advertisers to craft highly customized ad campaigns. This data-driven approach ensures that your ads are more relevant to your target audience, increasing the likelihood of engagement and conversions.
• Cross-Platform Reach: Integration with Microsoft means your ads can reach users across multiple devices and platforms, from PCs to mobile devices and gaming consoles. This cross-platform approach ensures that your message reaches users wherever they are in the Microsoft ecosystem.
• Seamless Ad Campaign Management: Microsoft Advertising provides a unified platform for managing your ads across various Microsoft services, including Bing Ads and LinkedIn. This streamlines campaign management, making it more efficient and effective.
• Access to LinkedIn: Perhaps one of the most significant advantages is the ability to connect your advertising efforts on Bing Ads with LinkedIn, a platform known for its professional networking and B2B opportunities. This integration allows you to target professionals based on their job titles, industries, and other LinkedIn-specific data, enhancing your reach to a valuable business-oriented audience.

5. Improved Ad Features

In 2023, Bing has continued to evolve with a host of new and improved features, making it a more powerful platform for advertisers. Here are some of the key enhancements to be aware of:

• AI-Driven Ad Recommendations: Bing has integrated advanced artificial intelligence (AI) capabilities to provide advertisers with data-driven ad recommendations. These recommendations help you create more effective ad copy and optimize your campaigns based on historical data, user behavior, and industry trends.
• Ad Extensions: With the expansion of ad extensions, Bing is now offering more opportunities to provide additional information to potential customers. These extensions include site link extensions, callout extensions, location extensions, and more. They allow you to enhance the visibility and relevance of your ads.
• Audience Targeting Options: Bing has introduced new audience targeting options that go beyond basic demographic and geographic targeting. You can now create highly specific audience segments based on user behavior, interests, and interactions with your website, enabling more precise ad targeting.

Conclusion

In conclusion, Microsoft Advertising emerged as a powerful and cost-effective tool for advertisers in 2024. As the digital advertising landscape evolves, businesses are encouraged to explore the distinct advantages of spending media budget on Bing, leveraging its growth, affordability, ecosystem integration, and enhanced features to elevate their marketing strategies and connect with a dynamic and expansive audience. Embrace the possibilities of Bing, and unlock new dimensions for your advertising success in the ever-changing digital realm.

Here are some guides and links that you will find helpful as you embark on your journey to Bing Ads:

Microsoft Advertising Official Website: Access the official Bing Ads website to create an account, explore features, and launch your advertising campaigns.

Help Center: Utilise the Help Center for comprehensive guides, tutorials, and frequently asked questions to navigate through any queries or challenges.

Blog: Stay updated on the latest news, features, and best practices by following the Bing Ads Blog.

Microsoft Advertising Learning Lab: Dive deeper into the intricacies of Bing Ads through the Learning Lab, offering interactive courses and resources.