Running a business is no walk in the park. Whether you’re selling a product or a service, have a wider audience or cater to a niche market, the fundamental challenges remains the same.
Managing cashflow, growing market share and perhaps the most important, at least in our eyes, marketing yourselves are all incredibly challenging yet necessary tasks for any entity. The latter in particular is often a difficult beast to saddle as marketing is often allocated the kiddies meal from the budgeting pie and seldom gets the attention it needs. And even in the event that it does get a decent budget, there’s a subset of marketing that’s terribly overlooked. What is it you ask? It’s the very medium you’re reading this article on: digital.
Digital is far more engrained in our everyday lives than we realise and acknowledge. We spending hours scrolling through timelines, make purchasing decisions based on the subtle art of influencers, we chat to our loved ones and manage our bank accounts all on digital platforms, especially those on our mobile devices. Yet even as CEOs and marketing heads share their next great idea in the company Whatsapp group, the last thing on their minds and budget list is a digital strategy.
The single biggest mistake businesses are making is not investing in digital. Holding back on social media budgets and having no paid media allocations is tantamount to buying your next travel tickets and booking them aboard the Hindenburg. It’s backward and you’re going nowhere fast! What’s worse is when there actually is a budget allocation yet it’s allow funnelled towards dated traditional media channels.
For example, pause reading for a second and try recall the last three billboards you saw. Who were they for? What was the message and how long did it take you to recall the creative? Now let’s unpack it further. If you were the one who signed off that billboard how would you measure how many people saw it? If someone had a query about your billboard how would they get in touch with you? Would you even be able to measure the real leads from the advert?
Digital, while not perfect, is undoubtedly ahead of the curve and still forging on. Results are in real time, targeting can be changed dynamically making your marketing more agile than ever before and most crucially, the price for attention is infinitely cheaper!
So take a second to pause and reflect on whether you’re truly getting the bang for your buck with your current strategy, and this doesn’t apply to big brands alone, then give digital a go. Allocate just 10% of your marketing budget to proactive social media strategies and media buying and see if it doesn’t make a world of a difference.
And should you need a hand along the way, we’re here to help 😉