Nearly every business relies on digital marketing in some capacity. With its relatively low cost-barriers, unparalleled reach capability, and general effectiveness, online advertising has now become a priority, instead of a luxury, for companies of all sizes and industries.
Unfortunately, not all digital marketing is executed properly. These misunderstandings can lead to a significant amount of wasted resources…something no business wants to deal with, especially in this strange time.
In this article, I’ll get into four of the most common digital marketing myths, and explain why they don’t work.
1. Myth: Traffic is Everything
A high percentage of digital ads you see today probably focus on driving traffic to a website. Once you get there, however, it’s up to you to help them take the next step to convert. While driving traffic isn’t necessarily a bad goal to have, if it’s your only consideration, you’re almost certainly missing out on some potential revenue.
Display ads, for example, are a great way to push customers to learn more about your brand through your website. With that being said, you should pave the way for their next step. How do you do it? The answers can vary, but having a landing page optimized for action is a great place to start.
The bottom line is that the concept of the “sales funnel,” although slightly overstated in some instances, is still a viable strategy for driving online sales. Remember that once you have the attention of a user and get them to visit your site, the work is only just beginning.
Use remarketing ads in conjunction with your traffic ads so that the people who took the time to check out your site won’t quickly forget about your company.
2. Myth: Only Campaigns with Big Budgets Work
Not only are small budgets viable when it comes to digital marketing, but they can actually be extremely effective!
Perhaps the number one reason that digital advertising has experienced such massive growth over the past decade can be credited to affordability. For example, businesses only need to spend $5 per day to run ads on Facebook’s platform – a site that includes an audience in the billions of users.
Yes, bigger budgets are going to yield more significant results simply based on volume, but that doesn’t necessarily mean that bigger budgets are more efficient. Most social networks give the same capabilities to smaller companies who rely on maximizing their budget through effective planning rather than simply throwing huge amounts of money out there and waiting for customers.
Just about every single business out there can benefit from an advertising campaign that spends just a couple hundred dollars per month. Simply put, you can’t afford not to have a digital advertising strategy.
3. Myth: If It’s Not Working, Change It Immediately
Nobody likes watching their money go to waste on an ineffective marketing campaign. It’s completely understandable why a digital marketer would want to quickly change an ad that isn’t getting results, but sometimes too many edits can hurt performance in the long run.
Advertising isn’t a magic bullet that is built to generate unprecedented revenue overnight. It’s a fluid process and one that takes time to work. Most consumers need to be exposed to an ad several times before taking any real action, and it can take several months before a campaign can accurately be considered a success or failure.
Yes, there are going to be times when it’s necessary to scrap an ineffective ad. Just make sure that you’ve given it a chance to work before going back to the drawing board.
4. Myth: Email is too Old School
I’ll let you in on a secret – not only is email marketing still relevant in 2020; it’s actually one of the top platforms for driving real results.
The personal connection that is inherent with email marketing already gives you a significant advantage over other mediums. Obviously the difference is that you need to first obtain an email to use email marketing, but once you have a solid list, don’t let it go to waste!
Every business owner knows that the key to long term growth and success is repeat business. By developing loyal customers through impactful email campaigns, you’re not only making sales now, but generating revenue in the future.
Instagram, LinkedIn, and of course, Facebook, all provide tremendous value for obtaining new customers. With that said, don’t overlook email marketing as an essential component to a holistic marketing effort.
5. Myth: You Need to Diversify Your Ad Spend
If running an ad campaign on one social media platform is beneficial, then running one on several platforms is even better, right?
The truth is, most brands have only one or two social media platforms that are optimized for their goals. For example, if you’re looking to recruit new employees to work for a particular business, LinkedIn is going to be very effective…Instagram not so much. On the other hand, if you’re trying to sell products from your new sunglass brand, Instagram is going to be the perfect place, while LinkedIn isn’t going to be of much help.
Part of your strategy – perhaps the first part of your strategy – should be to determine where your ads are going to have the most impact per dollar. Do your research on the consumer demographics that you’re after, and then make a decision on how to best reach them through the digital platforms they’re already using.
Every business needs digital advertising – that’s no longer up for debate. Avoid falling victim to these 5 marketing myths and you’ll put yourself in a position to be successful in a cost-efficient way.
If your business needs help putting together an effective ad strategy, get in touch today and we’ll work to find solutions for all of your marketing objectives.