Did you just write another check for broadcast TV?
I get it, it’s one of your most expensive addictions and the easiest way to spend that marketing budget.
Just call your TV rep and invest a million dollars.
You’ll get a call in 30 days telling you you’ve reached 10 million people who watched your commercial when its aired.
You only spent $0.1 per viewer!
Feels good, doesn’t it?
Unfortunately, that’s not the truth, and your mind knows it.
Often only a few percent of the people watching are potential customers (Think about all the men who’ve seen a thousand Tampax commercials?).
Let’s do some math.
You spend $1 million for an advertisement on TV
10 million people see your ad
5% of them are potential customers
5% of the potential customers buy your product
You make $1 for each purchase
25.000 people buy your product so you make $25.000
You lose $975.000
Your ROI is -97.5% on your fancy TV advertisement
Still want to write that check?
Your consumer’s attention has shifted, and your advertising budget needs to follow them.
Digital platforms hold personal data at the individual level and allow you to track every single dollar.
Now, those platforms protect individual personal data to the best of their abilities, but they also aggregate that data in a way that allows marketers to provide contextually relevant messaging to the individual people you want to engage.
Let’s take a hunting example, if we were to advertise for a hunting product on Google then we’d have our advertisement show anytime someone searched for a relevant hunting term in our relevant geographic region.
Let’s say you’re selling a hunting tree stand. If someone searches for “tree stand”, and if they are in a geographic area that you support, you can have an ad shown for your hunting stand at the exact moment that they have the intent to find a hunting stand.
Amazing, right? But wait, there’s more.
Let’s say your Google ad resonated with the person searching for a hunting stand and they clicked through to your website.
But they didn’t buy. That’s ok.
With a technology called retargeting, you can continue to show them an advertisement on Google, Facebook, and other social networks, and on relevant websites across the internet, for your tree stand.
Retargeting reinforces the recent intent that they already expressed by going to your website.
We already know that the individual was interested enough in tree stands that they went to your website — we don’t want to let the lead go.
With retargeting, which is relatively inexpensive, we can remind the consumer about what they’re missing by not buying your tree stand and why yours is the best tree stand in the world.
We can set a budget that will dictate how frequently they will see your ad after going to your website (ex: two times a day) and we can set how long they will see your ads for (ex: 30 days after visiting your site). With this, you don’t have just one shot at getting the attention of a relevant consumer…you can stay in front of them.
Ready for your new marketing addiction?
Contact firstname.lastname@example.org to start by February 15th.