DIGITAL MARKETING IS CHEAPER, NOT FREE!!!

Most conversations happening in marketing right now, are based on how we can leverage technology to drive business. Technology has helped level the playground, for small businesses and large businesses. Compared to traditional marketing where the bigger the budget the more marketing one could do. For example, in bidding for a billboard. The marketer with a $100 million budget will blow the competition out of the water. Small businesses will struggle to compete with such companies

However the beauty of technology, for example, social media is the consumer is already on the platform. And with great content, one can reach them. The same way Ford has to penetrate social media so too can small businesses. But, there are massive challenges to this sentiment or promise that technology offers businesses.

For example, the key to digital marketing is content marketing. Content drives lead generation, through SEO, Social Media Marketing, Email Marketing you name it. Without appropriate content, you are wasting your time. As over a billion people are online sharing different content, which you have to compete with. The opportunity cost online is also very high for content consumers, for example, one has to decide to check their email or twitter. Watch your content or watch Gary Vaynerchuck and get pumped up.

One of the most misunderstood advantages of social media or online advertising is that it is cheap. It's an advantage because it is cheaper to place an advert online than in print. But the cost of creating ads is not cheap. By ads, I mean the actual content. This cost can be financial, talent, and time. In most cases, it’s a mixture of all. And here is were a lot of small business miss it.  They think if you get a millennial or generation Z in your businesses then boom a miracle happens. It does not work that way.

One would argue there are a lot of viral organic videos online, but to that person, I would say, in terms of revenue generation, how much does that one video create. And fundamentally that video owner makes revenue because other marketers are trying to ride on that wave. However, in the long run hoping one of the many videos you create goes viral, could take a lot of time and patience and that can be costly too.

Marketing is one of those things, where you get what you pay for. Yes, there are free marketing methods such as growth hacking or guerrilla marketing, but also those methods have a cost. There is no such thing as free marketing. It is about time, marketers started telling people the truth. It is next to impossible to compete online without a marketing budget

Having worked with companies, that will spends hundreds of thousands and those that won’t spend a dollar. It is easier to see why the playing field is not leveled. Look at the top brands from 2000-2018 https://youtu.be/BQovQUga0VE when it comes to brand success you are either investing in your brand or you are killing your business. Remember it's not about advertising, it's about investing in marketing, financially, talent, and time

What are your thoughts on marketing, can it be free?