Most businesses will find a channel and advertise in it. Maybe building it out and optimizing it. One example is a Facebook Page. Facebook Pages are the most misunderstood channels used by business to promote their business. If a Facebook Page has less than 30,000 likes, the business is talking to no one. I can tell you that they may be pushing ads out to locations around them, which again makes their advertising even more expensive. Why? Because they don’t have an audience to market too.
Rather than promoting a post, it would have been better to advertise for likes and get their customers attached to the page. This is a form of demand generation. Getting likes is building your database of customers’ right on Facebook. If you boost a post for $25 and boost post over time, say 5 altogether, that’s $125 essentially down the tubes. If a company purchase likes, say even 100, and posts 2 times a day, that’s 200 times in one day they have to reach that audience, 1000 times a week, and 4000 times a month. See the difference.
There is always that channel that everyone goes too like walking on a sidewalk. If everyone is using that channel, would it be worth it to build it out completely in terms of marketing. Yes it would. Conversely, when business owners turn to advertising, it’s usually through solicitation or something that comes to mind like magazines and newspapers; one large expense after the other. The sidewalk I am talking about is reviews. Maintaining and building out reviews is huge. If the reviews are good and not more than 3 months old, you will convert visitors 380% over your competitor who does not maintain reviews.
Retargeting is also very inexpensive and high impact. It’s pennies on the dollar for impressions and I have seen conversions as low as $1.61. Can you imagine getting a customer for $1.61 that would like to convert their home to refrigerated air. Now you should see the difference between demand generation verses advertising to get a few conversions. Running ads to get a few leads and conversions is very expensive and can eat up a marketing budget with little to no results.
Look what we have done here. There are 1-2-1’s and there are 1-2-1000s. if you build a Facebook Page to 30,000 and post 1 time a day, that’s 30,000 news feeds you are seen on every day or 600,000 time a month. If you maintain your reviews, that’s a 380% conversion rate over the competitor for anyone researching your company. Retargeting ads, which again are the most effective ads to run among all advertising, cost pennies on the dollar.
Some advertising is a must have. Google Ads is one of those. It places your company on top of the search results for high commercial intent keywords. There is no getting around being on top of the search results if you would like to grow your company. Conversions from Google ads can be as much as $167 and there is no getting around that expense. Or is there? If you effectively build out your digital advertising portfolio, you can average the expense out.
It’s known that balancing a portfolio can reduce your advertising cost by 89%. So that $167 for example is now $18.43 per conversion. And from my experience, that’s about right.
Understanding effective digital advertising is essential to keep the business growing and keep the cost down. Reviews give a 380% conversion rate if a business owner keeps track of them and responds appropriately. Almost zero cost. If you built your Facebook Page Database, and top it off continuously throughout the month, that expense can be as little as $50 with a big return. Retargeting is pennies on the dollar, so factoring all this in for a balanced digital marketing portfolio makes it extremely effective.
Thank you so much,