Over the next few months and years Marketing Professionals are going to be asked to work miracles with the smallest of budgets. It is therefore imperative that organisations maximize the use of their online presence and word-of-mouth initiatives. It is amazing how much these can outperform traditional forms of advertising at a fraction of the cost. It is no longer enough to say “We have a website”. Your online marketing strategy must take the lead in order for your business/organisation to survive these trying financial times.
The chart below demonstrates the the power of online marketing over traditional forms of marketing.
Surprisingly, despite all the data to back you up, your most difficult task will be to convince the powers-that-be that a TT$2,000 Facebook ad is going to be move effective than a TT$8,000 Newspaper ad or even a $100,000 TV ad. The power of online advertising has yet to overcome the mindset of many in leadership positions. Traditional forms of advertising seem to have an indelible place in their hearts regardless of the cost.