In a market downturn (I am reluctant to use the word recession just yet) the advertising and marketing budget is normally the first casualty of company cutbacks. Next it’s the chocolate biscuits. I’ve always thought that when times are tough that’s when you should be pushing your brand more than ever, but I guess that is why I’m not a CEO. That, and the fact I don’t play golf… must take that up. Anyway, you have to trade your way through the hard times, and this does mean maintaining a level of market visibility.
Here’s 5 reasons why digital advertising is the place to spend your modest budget:
It can be a lot cheaper
An on-line campaign can be significantly cheaper than more traditional advertising channels. If you are watching your pennies but still need to promote your business, why not spend a few dollars one some less popular keywords to ramp up your PPC advertising to chase that long tail. Re-run some old banner ads, or maybe organise some banner swaps. Electronic newsletters can be very cost effect as well. Or how about just increasing your company visibility by working on some social touchpoints, start a company facebook group, a youtube channel or a flickr account.
Metrics & ROI
Now more than ever companies will want to know where their money is going and what return they are getting for it. Being able to view the click through conversion of a banner ad campaign, or see how many people have opened your email newsletter and then clicked through to a landing page, provides information for better customer-centric decision-making. Digital advertising provides fast and accurate tracking and measurement reporting compared to traditional advertising channels. Print out a nice spread sheet to show your boss – put it in a clear plastic cover. Magic.
Fast turnaround
You can often put together and deliver the likes of a banner ad campaign or email marketing campaign with a comparatively short turn around. Even doing promotional vodcasts for your company website can be done quickly and helps keep you visible. This fast turnaround will let you rapidly respond to opportunities that are triggered by market downturn.
Targeted
Things are getting tight right across the board – you will be feeling the pinch, and so will your customers. However, people still need to run their businesses, and push their brands. Sending out a targeted marketing message to customers that talks directly to their specific situation is going to get a lot better response than a general appeal.
It’s cool
Yeah you heard me – digital is the Fonz of advertising. The opportunities for creativity and the visual impact you can achieve with digital advertising can help you create that point of difference in the marketplace that could help you get or stay ahead. Just look at the likes of Minis brilliant Follow the White Rabbit banner ad campaign or Burger King’s hugely popular Subservient Chicken. Like the Fonz would say – “Aaaaay”.
