How Expensive is Internet Marketing?
At Digital Red Zone we have had many clients come to us from previous agencies explaining that they had no return on investment from their previous digital marketing plan. Many agencies are out there to make a few small changes and try to convince you that they have revamped your website. One thing we make very clear is WE ARE HERE TO MAKE YOU MONEY! We have the ability to customize your digital marketing campaign and each is different based on the service provided and capabilities of the company. There is no need to go all in with a large budget. Our marketing plans are designed for the campaigns to grow as the data tells us what to do and who to target.
In the early days of marketing many businesses counted on the traditional ways of marketing; this includes ads in the paper, tv ads, radio ads, and billboards. All of which can be effective ways of marketing a business but there was no real way to measure the return on investment (ROI). These traditional ways of marketing are certainly not cheap and are starting to become a thing of the past with the introduction of the internet and online marketing. Internet marketing can produce a much higher ROI simply because we are able to create a target audience for your business marketing. Meaning we can find people who are interested in your product or service and can market to them as needed. This is a much more cost effective way of reaching potential clients than the traditional ways of advertising/marketing.
Learn Why Is More Expensive Not To Use Internet Marketing
For a small business owner, not marketing their business on the Internet can result in significant missed opportunities and long-term financial implications. Here's why it's far more expensive to neglect online marketing:
- Lost Potential Revenue:
- Digital Presence: Many consumers now first turn to the Internet to search for products, services, and businesses. Without an online presence, a business misses out on that vast pool of potential customers.
- E-commerce Opportunities: Even if a small business doesn't primarily operate online, having an e-commerce platform can open up additional revenue streams.
- Increased Acquisition Costs:
- Traditional forms of advertising, such as print, radio, and TV, can be more expensive than digital campaigns, especially when considering cost-per-acquisition.
- Missed Engagement Opportunities:
- Social media and content marketing allow businesses to engage directly with their audience, build brand loyalty, and receive feedback. Missing out means fewer chances for organic growth and community-building.
- Limited Brand Visibility:
- Without an online presence, the business's visibility is confined to its immediate locality. Internet marketing can amplify brand visibility nationally or even globally.
- Reduced Competitive Edge:
- Competitors that harness the power of Internet marketing gain a distinct advantage in terms of reach, engagement, and insights. Not participating means lagging behind and potentially losing market share.
- Inability to Adapt:
- Consumer behavior is increasingly shifting towards the digital. Businesses that fail to adapt risk becoming obsolete or irrelevant in their market.
- Missed Analytics and Insights:
- Digital marketing tools provide invaluable data about customer behavior, preferences, and campaign effectiveness. Without this, businesses lose out on insights that could shape better strategies.
- Reduced ROI:
- Many online marketing strategies, like SEO and email marketing, offer high return-on-investment (ROI) when done correctly. By not leveraging these methods, businesses miss out on cost-effective ways to reach their audience.
- Lack of Credibility and Trust:
- Modern consumers often validate a business's legitimacy and credibility by checking online reviews, websites, and social media presence. Without these validations, trust can be eroded.
- Opportunity Cost:
- Every day without online marketing is a day of missed opportunities for growth, engagement, and sales. Over time, these missed opportunities compound, leading to substantial potential revenue loss.
In the digital age, not having an online marketing strategy essentially means leaving money on the table. While there are costs associated with setting up and maintaining online marketing efforts, the potential benefits and returns far outweigh them, especially in the long run. For a small business owner, investing in internet marketing isn't just about immediate profits—it's about ensuring the business's longevity, relevance, and success in a digital-dominated landscape.