As the news of global meltdowns, bankruptcies, foreclosures, layoffs and bailouts continues to mount, it is increasingly clear that we must tweak our promotional strategies to adjust for the harsh realities of the economic times. Whether we are in B-to-B or B-to-C, all of our customers are likely to spend less and our advertising budgets are likely to be trimmed accordingly.
That is why it appears to me that there is no better time to invest more in interactive internet promotional activities. Here is why:
Measurability - Internet advertising is more measurable than other forms of media. Don't believe me? Try to measure conversion rate for a billboard ad on a random street corner.
Scalability - With "guaranteed" banner ads which on only displayed when a relevant user is visiting the sight, the user gets a significantly more targeted form of media. "Guaranteed" banners are more expensive than "non-guaranteed" banners but the absolute cost is cheaper than non-internet forms of display ads.
Audience - The internet audience continues to grow. With over 300 million broadband subscribers globally it is very likely that your target market can be reached via internet marketing. If we compare this with the estimated 1.4 billion televisions on our planet we can get a perspective on the upside potential.
The key is to examine your customers buying cycle and determine where internet advertising can be most effective. If pre-sales and where that opportunity exists than attempt to educate you customer through your advertising to hopefully drive sales.
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