You had an idea. With your unrelenting effort, your idea germinated and grew into a product you love. But, you have a problem: how do you tell the world about it? The best way, of course, is digital marketing. Similar to traditional advertisements placed on television, radio or the newspapers, digital marketing will help you reach your intended target audience for a price. But, unlike the traditional marketing methods, digital marketing helps in more than just promoting your brand.
Here are three reasons why your company should start expanding their marketing efforts online.
Promotion for a cheaper price
Traditional print advertisements are fairly straightforward. You send in an advertisement, along with some money. The media channel runs the advertisement.
However, prices for these advertisements can be exorbitant. A small black-and-white print ad in Singapore’s Straits Times can cost thousands of dollars. There is no way a small business can invest so much money into promoting their product.
By turning to marketing on social media and other websites, you can reach out to people for a much smaller cost. Paid promotion on Facebook can be as cheap as US$1 per day. Pushing your video advertisement on YouTube costs about US$0.10 per view.
The affordability of digital marketing has helped small businesses garner attention from the younger audience, often translating into additional purchases or at least some form of brand retention.
You are in control
One of the main advantages of the online world is the vast customisation options that are available to every marketer. Instead of scouring every medium for the perfect target viewership or readership, digital marketers can set who will see the ads. Have a fashionable cat collar you’re looking to sell? Push your ad to people who like cats. Organising a public event for working adults? Push your ad to people aged 26 to 35.
Beyond that, you can even decide how much you are willing to spend on advertising. Social media platforms allow you to set a specific budget, and once the budget has been hit, the ads will not be shown anymore. The bespoke nature of this medium allows for businesses to easily plan their finances around advertising, and caters to everyone: large companies and small.
You get feedback
Every online ad that you run is another opportunity for you to test the market. If you run advertisements on social media, you will be rewarded with statistics after the last ad has been pushed: how many likes your post garnered, how many comments, how many people agreed to coming to the event. This gives your brand the opportunity to evaluate your recent expenditure, whether spending more money on this platform would be worth it.
Online comments about your brand can also be an indication of actions that are needed to achieve a better key performance indicator. For example, comments on Facebook ads may indicate that your product is faulty and in need of a relook at its design.
They could also provide positive reinforcement for your brand if there are positive comments. After all, a third-party’s review would likely be more trustworthy than an advertisement.