It’s no secret that the Internet has made the impossible, possible. From making information readily available, to connecting people with thousands of miles between them in seconds, the Internet is an invaluable tool we’ve grown to depend on. Its accessibility and innovation has drastically changed the way we communicate, especially when it comes to marketing.
For people and businesses alike, the first point of contact is increasingly online. With a combined user-ship exceeding 2.5 billion, Facebook, Instagram, and Twitter present a unique opportunity for businesses to access their consumers faster than ever (Source: The Rocket Science Group). And given the wealth of information available on these platforms, likability and reliability of brands are determined solely from content. This poses an incredible responsibility on companies to put their best foot forward, but when done right, the return can be huge.
Reasons stem from changing algorithms on Facebook and Instagram, which give brands the chance to be seen by users not currently following them; to the low-cost and high-reach of digital ads, presenting a huge opportunity for businesses. While the staying power of print marketing translates to ads being fairly expensive, the newness of the underutilized, digital sphere translates to ads being fairly inexpensive. Whereas a company might spend $1,000 for a feature in a magazine that has a circulation of 500,000, the same investment online has a potential reach of 396K+ impressions with 1.2K+ engagements (Twitter).
From a numbers standpoint, print appears more promising, but say only three quarters of subscribers end up reading that issue–that’s 375,000 people. Now, consider if your ad gets placed on page 127 of the magazine; how many people do you think will end up seeing it? The beauty about digital is the ability for posts to be shared. So, while you set a budget that estimates 396K will see it, engagement could be double, or triple that, depending on the content’s stickiness. Hence, the importance of content creation that is relative and timely.
Once the paradigm shifts and advertisers begin funneling even a proportionate amount of their budget into digital, reach will most likely decrease, and the opportunity to grow your audience may plateau. So, while print advertising is still key, it’s best for businesses to look to the future, as investments in digital now have the potential to yield incredible returns (Gary Vaynerchuk).
The question then becomes, what makes good content? Find out in our next post!