The Old vs The New
I don’t know how familiar you are with digital marketing or internet marketing whatever you want to call it but in this section, we are going to compare the old and new ways to promote your business.
Firstly let’s get familiar with the types of the traditional marketing we can invest in:
- Television Ads
- Large billboards
- Direct mail
- Radio Ads
- Newspaper Ads
To begin let’s start with traditional marketing. Unlike online marketing, the TV ads and billboards are difficult to measure accurately which is all around bad if you want to know which avenue is working best.
Yes, you may get a couple people that come in and say, “hey I seen you on that billboard.”
However, you will never be able to break down the data and scale a campaign because you are 100% confident that it’s working.
The next time a sales representative comes into your office and attempts to sell you on TV or billboards ask them a series of questions:
- Will I be able to see the exact amount of people that seen my commercial or billboard?
- Will I be able to look back and see if I acquired a new customer?
- Is the title of the billboard capturing people’s attention?
- Can I test different billboard styles at no additional cost?
Additionally, traditional advertising is crazy expensive making it difficult for local businesses to compete with large brands that have million dollars a month budgets to invest in brand awareness.
So we’re not all the way bias on the old ways of print marketing I want to weigh the pros and cons and give you a chance to compare.
- Very understandable. It’s difficult to get a message mixed up with a billboard or commercial. You’re letting people know exactly what you’re offering.
- Real world communication. With these print and TV ads, you are right in the face of people.
- This type of advertising has been around for centuries. These methods have been proven to work time and time again if your pockets are deep enough. Although they may expensive if you have the budget and you just want to get your brand out there to be noticed this is a good place to start.
- You reach a wide demographic because campaigns are not targeted. This means you won’t look over a potential customer. You can do the same with digital but usually, the campaigns are highly targeted to a specific type of audience or keywords and people that may be interested will not see your ads.
- Your traditional advertising strategies don’t rely on the audience to access the internet. They don’t need a smartphone or WyFy.
- A lot of tactics are dead. Who looks through the Yellow pages nowadays and who get’s there news from a newspaper? Many of these print companies are transitioning to the online space because they understand the power of this mobile phone movement.
- Your advertising is reaching people that have no business seeing your brand. With traditional campaigns, the person that will never buy from you is seeing your commercials and billboards waisting valuable impressions.
- Like we mentioned earlier these advertising campaigns are expensive. You better be ready to fork out a large budget over a long period of time to see results.
Below is a diagram of traditional advertising spend. This may be different for your area but when I took the time to speak with different media companies in my town this is what I came up with:
The New & Improved Way of Promoting Your Local Business
How do you gain new paying customers in today’s world of Google and social media? Indeed we are all aware that growing your business doesn’t just happen overnight. With all of the competition in your market, you need to be relevant and in front of potential customers 24/7.
What we focus on is direct response marketing. Meaning we invest money in ads to immediately receive a new customer or acquire contact information so we can follow up down the road. And of course, we want to do this by not looking like advertisers.
On the contrary of traditional advertising, our digital marketing campaigns are measurable, scalable, and you can start testing with as low as $5 per day.
Now on the strength of the that I’m not going to blow smoke up your ass. The more money you can invest in your advertising the more you can test and begin scaling for profit.
The initial goal of our campaigns is to invest in a platform like Facebook to see what’s performing well and what’s not. From there we take what’s working and attempt to get at least a 2 to 1 return. Advertising is much like wall street. You need to be willing to risk money upfront to reap a return down the road.
On several occasions, I have sat down with small to medium sized business owners and of course they believe they’re product or service is the best around. And most of the time this is true.
Yet people were not lining up to buy from them. Why is this? What’s going on?
You have spent countless hours building the perfect product or service yet your wondering why the business isn’t prospering like it should be.
After I take a couple days to audit their online strategies to bring in new clientele I usually come up with the same outcome.
The brand is in complete obscurity. No one knows who they are or what the business does.
You can have the best product on the globe but if your business is not in front of people how are you supposed to bring in more customers on a consistent basis?
Enter digital marketing.
Le’ts look at why we are huge fans of this form of advertising.
- Laser targeted ads to people who have similar interest that is relevant to your business. For example, if we’re running ads for a real estate brokerage we would put our message to people who have expressed interest in Zillow or Realtor.com.
- Instant traffic to our website and landing pages. As soon as we publish an ad on Google or Facebook people see our ads immediately.
- Accurate and useful data. Like we mentioned above we initially run a campaign to gain intelligence on an ad platform. The great part about this is we can see everything that is working with clear and concise data.
- More and more people are turning to their devices instead of a newspaper or television. Many folks now get all of their news from Facebook and Google.
- You can start a business out of thin air. The days of needing a lot of capital to invest in a brick and mortar business are gone. Now all you need is a laptop and wyfy.
I would also like to point out the downside of digital marketing so you can do your own research and make sure this is a good fit for your business.
Downside of digital marketing
- Takes time and testing to figure out what’s working.
- Requires a lot of dedicated time and you will need to have some sort of tech skills.
- If you’re investing in organic traffic it can take up to 6 months or more to see results depending on your niche.
- With SEO potential manual actions by search engines can hold you back or completely wipe out your website.
- Larger corporations quickly burn out a budget with little to no success because they assign the “marketing department” to run online campaigns. The traditional college student graduates with a marketing degree but has been taught the old Madison avenue ways of running ads. Theses traditional strategies usually don’t perform well in the digital world.
No, digital advertising is not designed to get rich quick and there is a lot of learning and hard work involved.
Nevertheless, I would rather risk my money in online advertising compared to traditional marketing any day of the week.
Simply because we can literally see how our entire sales funnel is working from the traffic source to the conversion goal.
And If something is not working well within our campaigns we have the ability to pinpoint the problem.
Remember, traffic sources like Facebook, Google, and LinkedIn give us data to analyze and optimize our ads.
This is nearly impossible with traditional print advertising. However, if you’re not doing anything to get people to see your business you can at least be sending out mailers or postcards because traditional marketing is a lot better than hope marketing.
Believe me, I ran my business into the ground for almost a year hoping people will recognize my business and skills. By the grace of GOD hope marketing actually worked enough for me to gain clients and continue to earn and invest money back into advertising.
All in all, there are many moving parts to online marketing and if you’re the type of business owner who is willing to invest and risk money to make money I believe you’re on the right website. Stay tuned for more in-depth articles like this.