Various advertising platforms that businesses opt to do their marketing have their respective cost implications which vary from one form to another. Spending on advertising has been a norm for many companies in all fields be it food, machinery and even travels amongst other fields. A case in point was a report done by a firm called AdmanGo that did a survey on the spending amounts for adverts. To everyone’s surprise, between the first and second month of the year, the company had spent six billion dollars Hong Kong money.
Revenue collected from the press, and print advertising platforms had the highest decline with 28%. The digital platform is the television adverts for this case, had a 9% decline in its collection from the services of advertising offered.
Various reasons have been purported to be the reason for the decline and among them being the bureaucracy inhibiting the advertising field. This has affected the advertising services in the industry as it has not been able to change to the changing times, emerging trends and a new set of branding and marketing. The media has remained with the same traditional advertising techniques that even the customers do not understand. Individuals and business entities are opting to shift to new advertising trends that will highly implicate their business sales, unlike the unpopular traditional methods.
This does not implicate that the more you spend on an advertising channel, the more efficient it will be on the products and services offered. Identifying the right advertising method is the best way for which business can start appreciating the sales that they make. This is because each product and service offered by a business have its respective audiences to which the information has to be conveyed to. For a fact, with the right content for the audience, the cost implications are minimal. This is because a brand has already been established and new customers will come on board on the existing brand awareness and referrals. This minimizes costs
Digital marketing of products and services brings a wide range of audience that is drawn from all over the world. This platform has been exploited in the recent past over Hong Kong as it provides for many channels that the audience can obtain the information. It is, therefore, the business of an enterprise to identify the range of avenues that they should exploit to ensure that they can access their intended audience who may be various separate platforms. The main advantage of using digital marketing is being cheap, and one can even opt to have more than one advertising platforms. All that is required is a plan and organization of the content used in marketing to ensure that it fits with the strategic business plans.
The power of social media cannot be underrated, and it is for this reason that any serious business wants to exploit to increase sales that would later translate to profits. Many years back, it was predicted that it would bring changes in the marketing field which it has successfully come to prove in a big way.
Digital marketing is a dynamic field that changes with time and behaviour of people. As people develop a different liking for one platform used for advertising, they will have an alternative that will attract them. A business should consider existing audience and clients can shift to other businesses the moment there is a change in the way their issues are handled as well as products being offered.
Apart from websites, there are other advertising platforms that include the use of applications. Many shops that online opt also to develop apps that can be downloaded and installed on their phones to facilitate easy access and shopping for its customers. With the apps, customers can be able to check on new products and services being offered, changes being done to improve quality and when discounts are being offered. Digital marketing offers a platform where audiences that are interested in a particular product can access to only that information as others can be perceived to be junk and unsuitable for them. It is an easy step as only a command is required to sort audiences with their selected forms of interests.
Products advertised on the social media move fast regarding sales. This is attributed by the effective branding means conducted on the said platforms. There are pop up ads that come out on websites and blogs whether online on offline that upon a click, it redirects you to the business’s website where you can visit and shop. Costs implications are minimal, and the business advocates for increased customer relations as that is the only issue that can affect the sales they make.