There are several ways for your company to grow, but it pretty much all boils down to advertising. You want to find the right way to make your company get known and recognised and be noticed above the crowd of competitors that are vying for the same customers to choose them. You may have started your business as a blue oceans company, being one of the first in your industry to do what you do. But it won’t be long until others have joined you and many will very quickly learn from you and come out with something slightly better, leaner and meaner than what you’ve got on the table. The red ocean is the term that entrepreneurs use today, which is when the proverbial waters become infested with competitors that it is a mess of competition. Here are some ways to ensure your advertising remains effective.
Find a partner in the advertising business
Find an advertising agency Sydney who can provide the latest in advertising knowledge and trends. While the concepts of advertising and marketing stay generally the same throughout time, the way in which advertising is actioned, the platforms and the language used are extremely important in order to stay current and be heard above the noise. Also, a locally based agency is always a good way to go – people you can meet for face-to-face talk and brainstorming. It is important for your key partners to be close at hand.
Pay per click
The fear of paying for advertising in the digital world is that you can’t control the numbers and therefore the budget. A nice way of keeping costs controlled is setting up a pay per click model that limits the amount of money spent as well as how much you will spend per click. A click is a person either clicking on a link that takes them to your site or a click that takes them through to a purchase page. If they make a purchase, this would be referred to as pay per acquisition.
By advertising through the internet you’re able to get far more accurate insights into what is working and what is not. Traditionally it was difficult to analyse this and was mostly done through surveys, but now you’re able to track the behaviour a customer has before making a purchase. By forming a real knowledge of what gets them to make a purchase, you can start increasing the time it takes to get to this point by fast-tracking the process.
While it becomes much easier to get customers to hand over personal information through smart ways of capturing information or asking them to sign up for a competition, join the newsletter, receive email alerts, etc, customer privacy and personal information is becoming better and better policed and it important to have a privacy protection plan in place. This will involve some anti-virus and anti-ransomware programmes and processes.
Word of mouth is still one of the strongest forms of advertising and social media provides this at scale. This is both super beneficial and super risky if the bad press gets out as it can spread quickly. But because it is still such an effective way of business marketing, make sure you allocate a decent amount of resources to advertising through social media.