In today’s economy, it’s easy to justify making cuts. With so many businesses struggling to come up with cash, finding areas to cut back seems like the right approach. Statistics show that when companies seek to cut costs, marketing and advertising are among the first to receive a lower budget. This is not always the best plan of action. Be smarter about where you spend your marketing money.
These days, consumers are awash and inundated with marketing messages from the moment they wake up to the moment they fall asleep. There are beer ads, car ads, gadget ads, and gadgets designed to make your life easier. But for the most part, all of this information goes in one ear and out the other. Don’t get me wrong, marketing is effective, and when it comes to decision time, the ads a viewer has been exposed to often influence their decision, but the problem lies in one small fact. Radio, television, and print ads can target specific demographic groups. For example, a print ad for a BMW or Mercedes might do better in the Wall Street Journal than in Sports Illustrated. While this ad can effectively reach the intended target audience, it is not always doing so at a time when they are making the decision to buy a vehicle and therefore loses some of its effectiveness.
This is where digital marketing comes in. The facts are all around us: newspapers and print magazines are losing circulation numbers, more and more households have Tivo or a similar DVR service that allows them to fly through television commercials, and the growing popularity of MP3 players and Satellite radio has significantly diminished the popularity of radio. However, the only advertising medium that has been gaining momentum over the last decade has been the Internet. The internet is an incredible opportunity to not only deliver highly targeted advertising and brand impressions to your target audience, but it can also do so at the most crucial point in the decision process, right before purchase.
Today’s economy is forcing everyone to search for the best deals they can find. These offers are usually found on the Internet. Digital marketing helps your business increase your exposure to consumers who are actively searching for your product or service, which makes it much more effective than other forms of advertising. Increasing your company’s exposure through digital marketing is the equivalent of McDonald’s only showing you a Big Mac commercial when you’re hungry. It is specific, effective and relevant.
Don’t cut down on your company’s marketing budget during this economy; Instead, focus on spending your marketing money more effectively by investing in a highly targeted digital marketing campaign.