If there’s one thing to remember about digital marketing, it’s this: It never stops evolving.
Ever-shifting technologies, platforms, and consumer trends ensure that advertising a business on the internet is never a cut-and-dry affair. If you want to stay competitive, your digital marketing strategy has to be continuously evolving. And that starts with understanding the online landscape and where your messaging best fits into it.
It seems that every year there is a new channel for advertising, which is the low-cost leader for a time. As popularity for particular channels increases, the cost invariably gets more expensive. If a business can get an advertising channel on board early enough and pick the right one, that business can get enormous exposure at a minimal cost.
A great example of this is Pay Per Click Advertising (PPC). While it might be hard to imagine now, there was a time when a click on Google's PPC platform cost just under $1. As it gained popularity, the clicks grew more expensive. Now the cost of Google’s PPC platform can be upwards of $150-200 per click in some industries.
So it's always advisable to be on the lookout for new platforms that offer an opportunity to advertise at a low cost.
Two emerging areas worth consideration are Connected TV (CTV) and Over The Top (OTT) Advertising. Let’s define these to start:
- CTV: This refers to the hardware meant for viewing content, such as Amazon Fire TV Sticks, Roku, Apple TV, Smart TVs, etc.
- OTT: This software runs on connected devices, presenting content to the viewers over the traditional closed television system. Since most content comes via the internet, OTT users do not need to subscribe or pay a cable or satellite company.
The costs to run on these two platforms are relatively low, with about 1000 impressions coming in at around $33-35. And with so many people staying at home due to the COVID-19 pandemic, they are increasingly popular. Think of this as running your company's commercial on digital TV. And unlike traditional television, you can target your audience with specific metrics that include: age, marital status, number of children, income, home square footage, roof type, home type, and year built.
Another useful marketing strategy to use in tandem with OTT and CTV is setting up a retargeting campaign. By doing this, you can have your advertising continue to follow engaged prospects online. It is important to note that exposure is the goal, just like it is with regular television.
Branding and other channels like OTT and CTV do not have direct attribution in the same manner that a direct lead channel like LSAs or PPC can. There is a science to understanding how you are getting business, and this is where your lead attribution comes into play.
As you continue to assess your business goals moving into 2021, a big question to ask is: How am I going to get more people to know who we are and what we do?
It’s useful to take a look at the behavior of your audience. With more people staying at home and engaging with Netflix, Hulu, and other online video and audio platforms, you have a real opportunity to promote your brand with OTT and CTV advertising.
If you have any questions about this or anything else related to home services digital marketing, always feel free to contact Scorpion. Our team is always eager to learn about your business and help however we can.