As a business owner, it is important for you to know that the traditional ways of doing marketing are rapidly changing. People aren’t reading magazines or newspapers or looking at billboards that much anymore. They’re not paying much attention to TV commercials either, unless it’s the Super Bowl. And for that, you’ll need a minimum of 5 million dollars.
Remember when our attention shifted from radio to TV (actually, most of us reading this wouldn’t remember because we were not alive yet)? It took some time for advertisers to adapt the messaging to make sense on TV. The same is happening today when the attention is shifting from TV to social media and streaming platforms.
You can’t just place a TV ad on social media and expect the same results. The content needs to get in with the new! It needs to fit our short attention span and instant gratification minds.
For the smaller businesses out there, your time to make those adjustments is NOW! Not tomorrow, not next month or next year. Why? Because the major advertisers are pulling their budget away from traditional media and placing it on social. There is about 80 billion dollars tied up in radio and television ads that’s about to be transferred to digital marketing. And guess what happens next? Basic supply and demand situation! By the time they come in, we can expect a big shift in cost when it comes to digital advertising making it much harder for smaller companies to compete.
So, are you sticking with the old or getting in with the new?