Digital marketing is here to stay. Not only that, it is proving a far more effective way of promoting and growing your business. In the U.S. – by whom so many global trends are influenced and inspired – print advertising has seen a steady 1-2 percent annual decline in revenue since being superseded by its digital peer back in 2010. Online advertising, on the other hand, has grown by over 10 percent each and every year since that time, now accounting for a 70 percent market share of business advertising. And these statistics account only for Google’s portion of the online advertising pie.*
So the rest of the world is investing heavily in the strength and future of digital – does that mean you should also? That, of course, is entirely your decision, but we would suggest a strong evaluation of your 2018-19 marketing budget.
But we would say that, right?
Well, consider these facts:
The average quarter-page ad in a local newspaper will cost in excess of $500. For roughly the same amount, you can reach an audience through social media exceeding that of print, and accurately addressing your target demographic. While special-interest magazines may well have the same effectiveness as social marketing, they are often more expensive, and for the vast majority of magazines, you will only be reaching your desired audience a small percentage of the time.
Social media is an unquestionably more beneficial investment. The advertisement can feature a gallery of images, numerous messages, animation, even a video, so you are effectively creating multiple ads for the price of one. But the benefits don’t stop there.
When an advert is professionally curated, it will target specifically and solely your desired demographic and its extended audience. This can be created from your mailing list database, your online followers and their friends, people who reflect your existing audience or even targeted based upon their location, their likes and interests and even their social standing. This carefully collected data all culminates in an advert that is reaching exactly who you want it to reach, every cent of your spend being effectively and strategically spent.
With professional management, a suite of ads can be created, exploring different marketing, graphic and demographic solutions and assessed day by day, even hour by hour to see which is most effective, the lesser-performing ads removed to channel your investment efficiently.
Every advert, regardless of outlet, should have a call to action. After all, how can you possibly tell how well your marketing is performing without feedback of some find?
While print might offer a discount voucher or special offer, it is still down to chance as to whether your ad will be seen, and then whether your audience will take up the call to action.
Social media can be endlessly scutinised, the marketing numerously adapted, to not only provide live and specific data, but also to offer a wide range of calls to action. “Call us now”, “send us a message”, “like our page”, “visit our website”, or most importantly “buy our product” – all can be marketed and then remarketed to your exact clientele. Perhaps they are intrigued by your first ad and visit your website. Social media can then market to your website traffic specifically to encourage them to take further action. It’s like your own personal paperboy, knocking on doors, opening the paper to the page with your ad and presenting it, then returning three days later to say, “so, about that ad…”
Digital media will never compare with the nostalgic appeal of flipping through a real paper on a Sunday morning over bacon, eggs and a warm coffee. There’s a rustic charm to ‘the old ways’ that we are still reluctant to forego in the name of pixels, chips and megabytes.
But from a marketing perspective, you’d do as well to hire a town crier or skywriter as to invest in this archaic medium. This may not be the case for all businesses, and some may still gain great advantage in the dog-eared, water-stained pages of the local rag, but leading into the new financial year, it’s well worth making the resolution to embrace the digital era.
Just as Google’s statistics convey, we suggest at minimum a 60-40 split in favour of online marketing. Not only will you be reaching the exact people you want, you’ll also save yourself money.
Talk to us today about your 2018-19 digital marketing campaign.