Digital MythBusters: 5 digital advertising myths
Jan 02, 2020 - 4 min
Digital advertising is continually evolving. In the midst of all this shifting change, there’s fertile ground for online advertising myths to blossom. With so many variables in both B2B and B2C segments, even the savviest marketers and business owners can get confused.
In this article, we’ve put together the most myths about digital advertising. We hope it will help businesses of any size find out if this a good idea or is it most likely a waste of money.
Myth #1: Digital ads are for big businesses only
Sure thing, big brands with big marketing budgets have broader room for maneuver. However, the belief that digital advertising works only for big companies is false. Small and medium business owners can benefit from online advertising greatly. Specifically, they can access the global market, build up a consistent online presence, engage their consumers faster, and gather insights to analyze their consumers’ behavior.
Basically, it doesn’t matter how broad is the audience you consider, the main point is reaching the relevant consumers and users, right? This is where digital ads come in handy, letting you target only those who are interested in your product or service. Besides, digital advertising goes with unlimited reach. You simply cannot beat it because you can be located anywhere on the globe and still reach everyone you want to sell your products or services to.
What kinds of small and medium brands can make the most of online advertising? Ecommerce businesses without a physical presence, various marketplaces, like booking, events planning, eLearning, also different kinds of marketing and analytics products, food delivery services and apps, and so many more.
Myth #2: It’s too expensive for small business
“Digital ads are prohibitively expensive for startups” is another popular misconception. First, what exactly does “expensive” mean? The most rational way to evaluate ad efficiency is to calculate the ROI and see how much profit each engaged user, consumer, or subscriber brings to the business.
Of course, SMBs have to be very careful about how and what they spend their budget on since their resources are limited. Yet, the internet advertising market addresses this challenge by offering many media platforms for affordable costs.
Wise entrepreneurs are sure that it can’t hurt depending on expected spending. So once you have a ballpark on ad spend, the only way to really know if you’re on to something is to test starting with small budgets.
Another question to think over here is, what do we compare digital or web advertising to? Because, if we compare it to traditional advertising, like print, billboards, or TV commercials – digital advertising is way more cost-effective (and measurable).
You might argue, though, that there are loads of digital marketing tactics requiring low-to-no investments — for instance, content and social media marketing, as well as endless growth hacking tricks.
Each of these tactics has its pros and cons. It sounds easy and obvious when a guy like Gary Vee recommends to repurpose your article into 80+ different content assets and spread it out. Still, when it comes to implementation, it takes time and extra hands (and money, basically).
Myth #3: It’s time-consuming
It indeed used to be slow in a before-programmatic-advertising era. Buying internet advertising was a time-consuming process performed manually by people. Media buyers would negotiate, make purchases, and create change orders with salespeople. Once confirmed, the publisher would take over running the campaign. This required the buyer to relinquish control to the publisher.
In 2020 the turnaround time that takes you to set up a digital advertising campaign is so much quicker. Whether you’re doing it by yourself or refer this to a media buyer, you can run an ad campaign almost instantly.
Plus, digital advertising is the fastest way to test the waters and see what works for your target audience, like ad placements, formats, or time of ad display. With insights about these things, you can fine-tune your creative, ad message, or targeting on the go to make it max relevant for your target audience – and cost-effective to you.
Myth #4: Ads are disruptive and spammy
The truth is flashy banners and spammy pop-ups are fortunately leaving us. The whole ad tech industry across the globe is consolidating to set up high standards on ad serving that would be user- or rather people-oriented.
For instance, one of the less interruptive and most people-oriented ad formats worth considering is native advertising. As it comes from its name, native ads blend in seamlessly with organic content on the website or an app. It’s also highly viewable – viewers spend 308x more time looking at native ads over banner ads.
To win their attention, it’s important to create high-quality and informative ads that represent your product or company. A great ad will help you promote your brand, create awareness, and gain potential customers.
Myth #5: Facebook is just enough
When it comes to native advertising, the first thing that comes to mind is social ads. According to the Hootsuite Barometer survey, 90% of brands use social media to increase brand awareness. And that’s for a reason. With the ability to target specific demographics and create custom ads, platforms like Facebook, Instagram, Twitter, and LinkedIn are good options for any budget.
However, social media is just an important part of digital advertising. There are so many more opportunities and means to reach your consumers whether they use computers, smartphones, tablets, billboards, digital radio, or streaming services.
As a business owner or a marketer at SMB, think of yourself as a DJ, who has access to multiple channels to mix up. So why not experiment with all the variety of distribution channels and creative assets across them to get more brand awareness and purchase?
We hope we managed to bust these myths, even though there are loads of other misconceptions as the digital marketing and advertising industry keeps evolving. Even when you’ve found what’s working for your business, it’s essential to stay open for new opportunities and channels, not limiting yourself only by buzzword tactics.
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