Busting the Myths of Digital Marketing
Digital Marketing in today’s era is considered to be one of the best platforms where you can reach a large audience by using specific targeting options of Geography, Demography, etc. etc. Facebook and Google are improving their codes every month to suit better requirements. But there are some hidden truths that people still are not ready to accept. They are pumping in huge amounts of money and are still not getting any substantial returns. There are many who have received huge returns with very small investment. Why is that?
Why is there such a huge difference?
Well, there is a limit to the code that these giants can develop. There is no such thing as a perfect code. Whenever there is a new release of the code, there are millions of search results that gets affected. The ones who were on the top are not seen anywhere in the 10 pages of search results while the ones who were never in the search are on the top.
The algorithm is an ongoing experiment and there will never be a perfect code. The same goes for Facebook and every platform that you do your Digital Marketing on.
I have met and heard hundreds of Digital Marketeers who assure a return on the investment and put deep holes in your budget with no actual results achieved. The reason is simple, if the codes of the algorithm are not revealed to the audience, the strategies that every individual follow is on their past experiences. There is no right answer!
Every Digital Marketing Agency or Freelancer who are in this sector since years, knows the fact very well and would never assure fixed returns. It is only the people stiffed by competition whose prime motive is to earn some income would suggest something of this behavior or the people who are completely under the illusion that Digital Marketing is simple and always works.
Let me give you another example of Facebook. If you are from India and have been part of the whole changing taxation and introduction of GST, you might have observed that you will not be able to start Facebook ads without putting your GST number. This has excluded many of the companies from the Digital Marketing arena as there are many businesses who are either in the process of achieving their GST number or are not included in the Tax Bracket to have a GST number.
The result of this has caused a lot of business loss for Facebook India as their only revenue is through marketing of ads.
But check the other part. With lower players in the Digital Arena, anyone who is doing even a Marketing with a very small budget is getting amazing reach! How is that possible? There is no substantial change in the code of Facebook for 3 months, nor there are any major releases. Then how are you suddenly getting a better reach?
Compare this to Costco. Costco gives you a limited range of options to buy. You will not find hundreds of options like you probably do in any Super Marts like Walmart, Target etc. They have restricted their purchasing to a limited number of vendors with limited variety of products on their shelf. This has increased the overall buying behavior by the end consumer as when there are limited number of options to choose from, it is easier. Too many options reduce the probability of a person buying the product completely.
Its not the algorithm that matters, it the number of people on the platform that matters. There are very limited ad spaces and you cannot fill up a social media page with Ads. There are currently 2 prominent spaces for Facebook for showcasing the Ads.
1. On the wall of an individual. When you are browsing through all the posts from your friends, you will see either random ads or something that you must have clicked on in some other website.
2. The right side where there are 2 posts that can be showcased as Ads.
So, as there are only 2 prominent spaces where Facebook can show the Ads and millions of companies spending money on the same, how would you get the right visibility? There are more spaces like when you are scrolling through list of videos of Audience Networks etc. but these 2 Spaces are the most prominent.
The whole point is, Facebook and all other Digital Platforms are great for certain product categories to market like Shoes, Accessories, Clothing etc. but when it comes to Services, the results are not that effective.
Take the same example of Google Adwords. The competition is so stiff that you won’t be able to get through the huge giants if you are in E-Commerce Sector. It forces you to rather sell your unique products on their platforms or be eaten away by them.
The best ways of achieving great results are far wider options like catching the Instagrammers for your niche or connecting with influencers and paying them for promotions. The cost must be higher but results would be far better.
There are many other ways of achieving the same. Stay tuned for more on Quest For Tech