26 Jan Digital vs Traditional Advertising in 2017
Its 2017 and yet, there are many businesses continuing to waste money on marketing that does not work.
What is your ROI?
We have the ability to track our marketing with many free and paid tools. We can work smarter with our spends and the return on investment for each dollar we output in marketing, with the dollars incoming from those campaigns.
Traditional media we will group as pre-digital. Radio, Print, TV, Billboards/Out of Home, and others were once the go to options prior to the digital age.
Can you track a billboard ad and how many people viewed the ad, then made a reservation at your restaurant? Most likely no, unless you are using a call tracking system like Call Rail with special phone numbers exclusively in each billboard to track calls. Even then, billboards on major highways cost $2000 – $5000 per month, plus $1500-$2000 every time you want to change the ad.
Lets say your marketing budget is 5% of your gross sales. That $2000 billboard should return 20X in sales per month or $40,000 in sales. If your average sale is $50, it will take 800 new customers for the billboard to meet your necessary ROI. The problem is, you’ll never know if that billboard sends 800 customers. You WILL, however, feel cool when your friends call and say they saw the billboard while speeding down the highway. You WILL spend lots of money and never be able to collect data or get smarter about your customers and audience. Unless you are a large company trying to brand like Coca Cola, you will need to focus on results and generating sales.
Digital Marketing – Track Everything
- Customize Your Target Audience
- Reach/Views/Impressions of Your Ads
- CTR – Click Through Rates
- Website/Landing Page Traffic
- Converting Traffic to Leads/Sales
- Revenue for Your Business
Above is the formula for 2017 marketing. Only spend money on targeting your defined audience. Why waste money on a billboard or radio commercial that broadcast to millions of people over hundreds of miles when your target audience is tens of thousands within ten miles. Pinpoint your marketing.
- Design ads and copy that speak to your target market
- Use eye catching images
- Have a call to action
- Make sure your website and landing page are mobile friendly
- Convert visitors to leads with data collection or sign up forms
- Use retargeting to connect with customers later online (facebook pixel, Adwords)
- TRACK EVERYTHING!!!
Oh, and by the way, you can change your ads any time and as often as you wish. Unlike a billboard which costs $2000 if you want to change the image or text, your facebook or google ad can be updated almost immediately, at no extra cost.
If there is one thing you need to do with your marketing this year, its tracking and score carding the efforts. You have to define goals. Increasing table reservations, party requests, newsletter subscribers, gift card sales, event tickets, etc. Then set up your system to track all marketing effort and their impact on your goals. Everything digital can be tracked to your goals.
- Social Media Posts
- Facebook Ads
- Instagram Ads
- Email Marketing
- Referring Websites
- Online Videos