How to: get five times as much for your money
I was reading an article about the companies that spent the most on advertising and noticed something odd. Not one of them spent more than 10% of their budget online. They loved TV though. You could buy the whole damn Internet for the sort of money they spend on TV campaigns.
This is a bit mental when people spend as much time online as they do watching TV. It's even more mental when you consider that online marketing can be so much more effective than TV: you can get five times as much for your money. More was spent on billboards than online. So: if you want to get the most for your money then 'As seen online' is more effective than 'As seen on TV'.
Still, most of us don't deal in TV-sized budgets. How does digital spend compare with direct mail, press, outdoor and other channels for Return On Investment (ROI)? In the B2B environment, it's websites.
"Methods generating the highest B2B ROI are topped by advertisers’ own websites, followed by conferences, exhibitions and trade shows; direct mail; search engine keywords; and e-marketing/e-newsletters." Source: Outsell.
So, if you have a choice of spending a few thousand on a print ad. or improving your website, it's a no-brainer. Some of our customers wouldn't dream of spending thousands on SEO or a campaign microsite and this does seem daft.
Thing is: you can measure the effectiveness of the campaigns quickly and easily (that's code for 'fairly cheaply'), so you can and should test and compare the cost per sale across media.
Of course the highest payback of all came from cross-media campaigns. Even though my livelihood depends on selling you digital stuff, I'm not suggesting you should only spend money on digital, just that you may profit from doing some testing and experimentation of your own. We can help you with that, so give us a call to find out how.
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