Everything is changing.
I can’t tell you how many times I’ve heard this across a wide variety of business categories. The impact of the web has been far-reaching, category-changing, newcomer-launching, and above all for many, under-achieving in terms of true market share growth. Yet we continue to dive deeper into social media investments and the dream of building a customer-driven customer base at “no cost.”
The perfect solution in these tight margin and slim pickin’s times.
But is it really the only solution? How quickly we forget our last recessions. Where it was proven time and time again that those marketers who invest in paid brand awareness building during tight times gleaned much better returns on market share growth when things finally turn around.
Why you ask?
Two reasons: a) a reduced level of competitive noisemaking and b) advertising bonus spots that naturally occur when there are time slots that must fill and not enough advertisers to fill them.
That’s why some commercials seem to run repeatedly in undersold properties. At the end of the day that might amount to 50% off rate card. Sure beats your 1.7% click through rate! Now nobody is saying that this is an either/or situation in terms of traditional advertising versus online marketing but who are you going to call so you don’t want to miss your market share boat.
You might re-consider negotiating with someone who is selling something that is proven to work in the long haul versus the latest internet pipe dream. She’d love to talk to you. Because the more things change . . .