Marketing In Such Dire Times
It’s widely accepted that when times get tough the marketing budget is the first target for cost cutting so are we, as an online advertising company, in trouble?
On the contrary, I beg to differ as I believe that there is no better time to be in Search Engine Marketing (SEM) than the hard times. No doubt there would be those who would fall by the wayside, but for those who know how to play to the strengths of our field this is a time of endless opportunity!
Now, I’m not saying that traditional forms of advertising are totally useless. But there are just a few things of SEM which I feel, in my humblest opinion are a notch above the former.
So I present to you just 3 points on why I feel that in these credit crunch times, you may be able to cut down on your advertising budget and still get results because of SEM.
Effective Reach and Relevance
Every penny spent on search as well as content network, works harder for you. Comparing the money spent on newspaper and print advertising which might get you a single full page spread and a few hundred thousand eyeballs for a couple of seconds. However the same amount spent on organic search will get you tens of thousands of visitors a day for months to come.
Not forgetting that SEM also allows the user to geographically target specific locations to where he wants his campaign to be launched. And yes, the icing on the cake would have to be the contextual keyword abilities. For contextual keywords, the system works by “pulling” an ad beside your searched query. This is a whole new level of smart advertising. Where we as marketers are one step closer to our goal as compared to the traditional ‘push’ advertising medium. In summation, its giving consumers what they WANT (intention) at the right time.
So the question to ask then is: Do you want to spend $10000 on a print ad that could bring you 100 inquiries or would you prefer to spend $1000 to acquire 100 targeted customers?
Flexibility and Control
SEM allows marketing companies to set a maximum daily, monthly and even yearly budgets. As well as specific amounts that they are willing to pay per click or thousand impressions. This effective marketing tool helps advertisers to generate leads, sales and create brand awareness. Changes that need to be done could be altered almost immediately and the results shown as quick. Unlike conventional methods of print or newspaper where extra costs could be incurred because of a slight spelling error and changes have to done weeks in advance.
Measuring Return-on-Investment (ROI)
A lot of traditional advertising is hitting and hoping with fingers crossed. With most TV & Print campaigns hardly having any tracking mechanisms. Nothing can compare to the clear metrics you get with SEM. Online marketing can tell you how your customers are finding you, and most importantly, if they’re spending their money with you. This is especially imperative in these critical times. Marketers should be equipped with such hard data to help pilot them in making better marketing decisions as well as being able to stand up to the insistent queries about their budget to their bosses.
At times like these companies have 3 main criteria when assigning their marketing budgets: getting as much for their dollar as possible, being able to monitor costs closely and being able to see clearly how it impacts their bottom line.
It is hard out there but people are looking to spend WISELY, not stop spending altogether. So, when it comes to marketing, it doesn’t get any wiser than SEM.