In today's economy, it is easy to justify making cutbacks. With so many companies hard up for cash, finding areas to cut corners seems like the right approach. Statistics show that when companies look to cut down costs, marketing and advertising are among the first to receive a smaller budget. This is not always the best plan of action. Becoming smarter about where you spend your marketing dollars is.
These days, consumers are flooded and inundated with marketing messages from the moment they wake up, until the moment they fall asleep. There are ads for beer, ads for cars, ads for gadgets and devices 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 times, influences their decision, but the problem lies in one small fact. Radio, television and print ads can all be targeted at specific demographics. For example, a print ad for a BMW or Mercedes might do better in the Wall Street Journal as opposed to Sports Illustrated. While this ad may effectively reach the intended target audience, it is not always hitting them at a time when they are making a decision to buy a vehicle, therefore, losing some of its effectiveness.
This is where digital marketing enters the equation. The facts are all around us – newspapers and print magazines are losing circulation numbers, more and more homes have Tivo or a similar DVR service that allows them to blow through televisions commercials, and the increasing popularity of MP3 players and satellite radio has significantly increased the popularity of the radio. The one advertising medium that has been gaining momentum over the past decade, however, has been the internet. The internet is an amazing opportunity to not only provide highly targeted advertising and brand impressions to your target audience, but you can do it at the most crucial time in the decision process – right before purchase.
The economy today is forcing everyone to hunt around for the best deals they can find. Usually these deals are found on the internet. Digital marketing helps your company increase its exposure to consumers who are actively seeking your product or service, making it much more effective than other forms of advertising. Increasing your company exposure through digital marketing is the equivalent of McDonald's only showing you a Big Mac commercial when you are hungry. It is targeted, effective, and relevant.
Don't cut back your company marketing budget during this economy; Instead, focus on spending your marketing dollars more effectively by investing in a highly targeted digital marketing campaign.