It’s important to look and see how much attention you can get online versus how much you can get from traditional advertisements. In addition to that we need to understand how much we can measure the amount of attention we are getting online and how many people we can reach versus how much we can get from traditional advertisements ex: Billboards, Newspaper Ads, Signs, TV Commercials, etc… Before diving more into these questions i’ll give you a hint about the measurability, there’s close to none when it comes to traditional advertisements… Online, however, everything can be measured, and with little to no cost.
The number of people online accepting.
According to Jacob Davidson at money.com more than 3 billion people in the world are now using the Internet, as is reported from the United Nations agency, which is responsible for overseeing international communications. Now, what if one person could get the attention of just 1% of internet users? That would obviously be a lot of eyeballs, in fact it would be about 30,000,000 eyeballs to be exact. I think we can all agree an extra 30,00,000 people looking at a brand could bring a considerable amount of more revenue for that brand, but maybe not the easiest thing to do right off the jump. What if we could, however, just get .01%? That sounds a little more achievable and still is about 300,000 people, and you might be surprised at just how many people have an online following that big, quite a few!
All this sounds great, but how much does it cost? And how can we measure that we are getting the engagement we need for the money that we are spending? Well if we are looking at how much it costs to start building an online brand through social media, the answer is $0. That’s right, $0. Anyone in the world, if they want to, can go and create an account for Facebook, Instagram, Twitter, Youtube, Snapchat, not to mention the many other platforms, for absolutely free, and hundreds of thousands of people do it everyday! Not only can you create your account for free, but you also have access to hundreds of millions of users on the social media platforms for absolutely free! Now of course, if you want to use paid Facebook and Instagram advertising it costs money, but, if you know what your doing you should be able to create a free account for your brand and start getting a few extra thousand eyeballs on your brand for free, and then scale from there. Some good tips for growing and scaling your online following are, interact with accounts similar to your niche, deliver good content, and respond to your followers, just to name a few.
Measurability and Reachability.
Another benefit to leveraging the internet versus traditional ads is that you can now get the attention of people thousands of miles away with an internet ad or social media post versus only being able to reach people in your local city with a billboard or yard signs. Let me repeat this again in more simple terms, from your laptop or computer, you can literally reach hundreds of millions of people while sitting at your house. While, In person “Old School” advertising, you can only reach people that are within a certain radius of whatever sign or billboard etc… that you have put up. On top of all of this you can MEASURE the engagement you are getting with your desired audience. Every single time you post something online, especially on Facebook, Instagram, and Google, you can see how many people saw the actual post, how many clicks you got on your advertisement, how many people exited your website, how many people added your product or service to check out, how many people bought from you, how many people abandoned their cart in the check out… and the list goes on. Obviously this has a lot of benefits, like being able to test out why people are abandoning their carts, or why they stayed/ exited your website, then adjust your tactics! Versus the traditional or “Old School” way of advertising, you can’t measure how many people looked at your billboard or sign in a day, maybe you can measure how many people drove past it, but there’s no possible way to measure how many people actually took the time to stop what they were doing and read you sign or billboard, on the internet you can do that!
How much money is spent online everyday.
Experts predict that over 3 trillion dollars will be spent online in 2019, that’s about 8.2 billion dollars per day. Wouldn’t it make sense to get some of that market share? Look at companies that have and the success they’ve had from it: Amazon, Apple, Google, Uber, Air BnB, etc… Also, If we are looking at trends, internet usage has grown by over 25,000% in the last 20 years and isn’t expected to slow down anytime soon, in fact it’s expected to continue to increase geometrically for the foreseeable future. More retail stores are closing now more than ever, and have become a thing of the past while online business is the way of the future.
These are only a few of the reasons why it’s imperative that if you have a brand or business you are trying to market to the public, you need to leverage the huge world that is online. Times are changing fast and the only logical thing to do is catch up with the current trends of online brand building or get left behind, like so many once big name brands unfortunately have.