In every industry there are skeptics. Whether it’s someone who doubts your product, is misinformed, or is simply stuck in their ways, we’ve all dealt with non-believers. In marketing and advertising, we’re no stranger to this. There are several myths that haunt the digital marketing world. This article aims to dispel 3 of the most common.
Myth 1: Paid Ads Don’t Work
The first big myth is that paid ads aren’t successful and no one clicks on them. This myth couldn’t be farther from the truth. The truth of the matter is that paid ads are extremely effective. People click on paid ads everyday. You have most likely clicked on a paid ad without realizing it. Here is a google search of “dentist in Phoenix”.
If you’re anything like me, you typically click on the first result. In this case (as well as in many other cases), the first result is a paid ad. Most people disregard that tiny yellow square that says “ad” because they’re too busy reading the results and trying to answer their question.
Online Ads work because they can be tailored. You can target specific individuals who have interests that pertain to your company. For example, if you own an outdoor supply company, you can zero in on people who have told Facebook they like to camp, hike, kayak, etc. Online Ad campaigns are made to order and can be as specific as you’d like them to be. People will click on your ads because they appeal to them and their interests.
If this doesn’t convince you, perhaps some cold hard numbers will. In 2014, the majority of Google’s 66 billion dollar revenue came from Google AdWords. In fact, Google is profiting so much, and AdWords being the main cause of this profit, that they have no idea what to do with the money. Check out this interview with Peter Thiel and Google CEO Eric Schmidt. Google has $50 billion in reserves simply because they make too much profit and don’t have any projects to reinvest in.
If you still need more proof, here is a great blog from hubspot that provides 11 examples of how and why Facebook Ads work.
Myth 2: Online Advertising is too Expensive
The second myth we come across often is that a business states they simply don’t have the resources to advertise. This is a common misconception as people think advertising online is a lot more pricey than it actually is. You can advertise on Facebook for the same cost as your Starbucks Frappuccino. $5 a day is all it takes to get started on Facebook Ads and the results are extremely lucrative. Here is a success story about a woman named Mary who gained 532 subscribers to her email list in only 43 days using Facebook Ads. Gaining 532 potential customers and only having to spend $215 (43 days x $5) sounds like a steal! We found the image on the left from Content Marketing Institute article, which also provides some great insight on Facebook Ads.
Google AdWords is very cost effective as well. You are only charged when someone clicks on your link. That’s it. You also get $100 free credit for signing up with google. If you don’t, shoot us an email and we’ll make this happen.
There’s a famous saying in advertising “nail it and scale it”. First, you need to nail your ad campaign. It’s important to find out what works and analyze it. What ad works well? Which of your landing pages are converting the best? Google and Facebook Analytics can help you discover what is generating the most revenue or help you nail it. From there, you can scale your spend. Take your profits and reinvest in your company. Scale your spend in order to create even more revenue. You know what they say, you have to spend money to make money.
Myth 3: My Business Doesn’t Need Any More Business
If you’re company is at a place where you’re so busy you can’t take on any new business, we applaud you. That’s fantastic. However, we were once told by an extremely successful entrepreneur, “if you’re not growing, you’re stagnant. And if you’re stagnant, you’re going backwards. And if this is the case, you’re six months away from going out of business.” If you’re not constantly taking measures to grow, you’re six months away from closing your doors. Growth is essential to stay afloat.
In any scenario, it’s always good to have a plan. The business world is fickle and while everything may be fantastic now, there’s no telling what may come next week. Plan on how to add a production team in order to be prepared for things like losing a big client, a vendor going away, etc. It’s much better to put the work in first and not get stuck playing defense six months down the road. Plus, your competitors are most likely already advertising. Don’t lose out to them. Get in the game before it’s too late.
These are the three biggest myths we encounter in the Marketing and Advertising industry, but there are many more! Check out our Facebook Live series Aftershock Coffee Talk for our 3 part-series on this topic. We go live every week!
Written by: Amy Pope