We have all heard of a stock that is so new we are afraid to invest in it. In fact, our fear of the new stock would make us slow to invest or consider it. That new stock is digital and social media.
I have often said traditional media is the width of your wallet and new media is the width of your brain. Billions of dollars each year are spent on traditional media, the common stock. Traditional media’s audiences are slowly declining while it receives the majority of ad spending dollars.
In full disclosure, I am still a fan of traditional media, but I am aware of its shortfalls. I have witnessed how clients would judge the success of an outdoor campaign by how many people mentioned their ad to them in the grocery store. If they received a compliment on their tv ad, they would associate that compliment with a successful campaign. Compliments are always good, but compliments don’t equal cash.
The way I view digital and social media is like the hot stock everyone is afraid of investing. When the stock takes off those who didn’t invest early will pay a premium to get on board. Purchasing television for reach is not always what a local advertiser needs. Using a broadcast television station for a single location business such as dry cleaners is not the best use of your ad dollars.
Targeting your audience with a rifle versus a shotgun is the best way to be conservative of your ad dollars. The ability to target a potential customer by their habits, likes and interests can be beneficial to an advertiser.
We are living in an age where we carry the internet with us daily. We run our lives and businesses on apps. Our tablet, smartphones have become is an instrument of our regular communication. Ask yourself when was the last time you worked a full work day and didn’t need your cell phone?
While allocating dollars for online spending can seem scary, the capabilities are hard to ignore. Want to learn how to maximize your marketing? Give us a shout on our connect page!