Digital media has become a force to be reckoned with in the world of marketing. Retailers spent nearly $13 BILLION on digital ads alone in 2015, and the spending has only increased as technology advances.
Experts predict that digital ad spending will increase to at least $23 BILLION by 2020!
Why digital, though?
Unlike traditional channels, digital marketing allows businesses, of any size, to reach global markets. And at a fraction of the cost!
To meet the demands of digital ad spending, a company – especially a startup – needs to be smart about how they utilize their digital marketing budget. If you’re looking to boost your marketing campaigns but remain cost-effective, here are a few tips on how to save on your digital marketing costs.
1) Social Media
Social media has been the most transformative form of technology in recent years. At least 2.54 BILLION people across the globe are on social media. Spanning all demographics, that’s A LOT of people Tweeting, sharing posts on Facebook, uploading photos on Instagram, “Snapping,” etc. These social media networks have permeated nearly every aspect of our daily lives!
And this very shift towards social media has changed the way advertisers look at digital marketing.
When you compare the numbers, social media advertising comes out as the cheapest, costing, on average, just $2.50 CPM. To compare, newspapers and magazines run, on average, $16 CPM, while radio and TV range between $10-28 CPM. Direct mail, alone, is about $57 CPM! As you can see, social media is an absolute steal!
Another great thing about social media, is that the various apps are constantly improving, and adding features – giving you even more options! Between Instagram, and Snapchat – which are both popular photo/video sharing apps – there’s endless opportunities for marketers to create content. Aside from uploading photos and videos, both apps now allow for the uploading of “Stories.” Brands, big and small, have been taking advantage of this feature to create brand stories that have proven to be effective.
For more on sharing stories, EZSiteBuilders, created an in-depth guide that’s worth a look.
2) Responsive Web Design
Having a website for your brand/company is a must. But when your website poses as a problem, on the technical side of things, you lose your audience. Nobody wants to wait for a page to load, nor do they want to navigate a web page that isn’t optimized for mobile. If you’re unfamiliar, the term “responsive web design” means “web programming that can respond to the user’s behavior and environment based on screen size, platform, and orientation.”
The more flexible and adaptable your website is, the more people will be able to use it; and with ease. This is extremely important, especially when you factor in the growing demand for mobile content, and the growth of mobile e-Commerce. People are on the go, and on their smartphones throughout the day. Make it easy for them to browse your website, as they balance a Starbucks cup, their metrocard, and a bag in the other hand!
3) E-Mail Marketing
E-Mail marketing is exactly what its name suggests: marketing your products, or services, via e-mail! Whether you’re looking to gain new customers, or improve your relations with existing customers, e-mail marketing is a low-cost, effective way to do both. The only thing to keep in mind is that building a database of emails, and actually designing the newsletters/emails is time-consuming. But worth the effort.
Whether you’re promoting a new sale, sharing new content, or have updates on products/services, you might find giving the information directly to your customers to be more effective.