By Timothy A. Zercher – TimothyZ@EasySocial.Solutions
While speaking with a local businessman last week, I heard something that is a common refrain from my clients. He said, “Getting new business for your company used to be as simple as picking a location with good foot traffic and buying an ad in the local yellow pages…”. Needless to say, it isn’t like that anymore. We all know that traditional forms of advertising like yellow pages or mail pamphlets have been slowly losing their ability to attract new customers to businesses over the last few years. I am here to tell you that if you want your business to thrive, or even survive in the next few years, now is the time to start investing in digital marketing strategies. There are plenty of reasons why my team and I recommend this, but here are a few statistics to help illustrate our point:
- Digital marketing is much cheaper, with some studies showing it costs 61% less per lead than traditional marketing and advertising. This means that by investing in digital advertising you are likely to both save money and increase your advertising results.
- An estimated 97% of all customers research and find products online before they purchase. This number may seem high, but it has actually been steadily increasing over the last 10 years and for any product that is not a spur-of-the-moment purchase this trend is likely to continue.
- Leads acquired through organic search, meaning those who have found your product/service via online research, are 750% more likely to close a deal or buy a product than those you reach through traditional advertising. In our minds, this alone is reason enough to begin investing in organic SEO ranking and social media engagement.
Finally, outside of short-term statistics, the long-term trends our economy is facing make it very clear that having a robust digital marketing strategy is essential. Here is some final food for thought: according to Goldman Sachs, Millennials are going to be one of the largest generational groups in history and they are now entering their prime spending years at 20-36 years old. There are a number of statistics available for the market size and potential of Millennials, but suffice it to say that they are a LARGER group than the Baby Boomers and they on average attain a higher degree of education. The last thing to consider is this: how many Millennials do you know that even know how to use a yellow-pages book?
About Timothy: Timothy A. Zercher is the President and CEO of EasySocial. EasySocial managers over 30 companies’ online marketing and advertising efforts all over the U.S. and is Pueblo-based. www.EasySocial.solutions