With many of us engaged in budget planning for 2015, now is a good time to take a critical look at your advertising budget and ask if your dollars are being spent as efficiently and effectively as possible. You obviously want to place your well-targeted messaging where potential customers or clients devote their time and attention. So I’ll start with a few questions:
- How much do you (and your friends and business associates) use your smartphone or iPad daily?
- Do you spend a lot of your focused work and play time on a mobile device and on digital devices in general?
- Do you notice how much younger people use their smartphones?
- Did you know that studies have shown that combined digital media use among US adults has surpassed time spent with television?
- Did you know that you can precision-target digital advertising by location, and by search keywords, and by demographic and specific interest selects?
Take a look at the adjoining graphic, showing time spent per day by major media. How do your 2015 marketing and advertising budgets compare with the ratios shown here: 47% digital, 37% TV, 11% radio, and 3.5% print? How much of your 2015 advertising budget is devoted to mobile platforms, or to geo-targeted advertising on popular mobile apps, such as Facebook or Twitter?
If you are like most managers and owners of small to medium sized businesses I’ve spoken with, they acknowledge the rapid growth and importance of digital media and mobile, but they have yet to connect their marketing and advertising to the digital world in a significant, well-thought-out, measurable and meaningful way.
Digital advertising is complex, but you can learn what you need to get started, consult with experts who can advise and guide, and test your way into a successful program. Don’t let your 2015 ad budget be a dinosaur.