Preparing for the Online Onslaught
It’s no secret that the e-commerce world has experienced exponential growth over the past few years. It’s also no secret that there are differing opinions out there regarding the best strategy for the transition to an online focused advertising model.
Here are some facts about the current advertising landscape:
- The cost of advertising will continue to increase in 2016 and beyond
- There will continue to be more options for investing your advertising budget making your strategy crucial to your success
- As companies realize that online metrics are more accurate and in real-time compared to traditional advertising, the value of investing in digital advertising will only continue to increase
As a veteran of the advertising industry on the service delivery side, I’ve witnessed first hand the impact of technology over the years. In the 80’s and early 90’s we transitioned from large multi-million dollar systems to desktops. In the 2000’s we began to provide enterprise content management and workflow automation to lower cost and improve accuracy. And the evolution continues today.
One industry trend that cannot be disputed is that online content will become increasingly interactive in 2016 and beyond. According to Inc.com, “In 2016 we will see more interactive content through the form of video (such as 360-degree), virtual reality, and advertisements that are more two-way between the company and their target demographic.”
In 2016 we will see more interactive content through the form of video (such as 360-degree), virtual reality, and advertisements that are more two-way between the company and their target demographic.
As technology continues to develop and makes the implementation of rich media and interactive content even easier, a pivotal moment will occur and those who are not prepared will be left behind. Going back almost a decade, I’ve been told more than once by senior level marketers that their goal is to have a print budget of as close to zero as possible, as quickly as possible. Considering this trend, the service delivery model will need to adapt or die and most traditional print or pre-media companies recognize that online advertising will replace the majority of print at some point.
In today’s business climate of cost savings, how do you implement an interactive content strategy—such as 360° & 3D imagery—quickly and effectively? Do you do it yourself with a large capital investment and a dedicated staff, or do you hire someone to do it for you and focus on your business? What is the true cost of doing it yourself vs. the cost of hiring a service provider? If hiring, do you turn to a more traditional service delivery company or a nimble, highly skilled industry leader? Or, most importantly, what could be the cost of NOT investing in enhanced content?
Let’s say you’ve made the decision to invest in a strategy, how do you get your content converted? Doing it yourself could take years, unless you invest heavily in capital and staff, so how do you offset the investment? It’s simple math really, what is the value of increasing online revenue more than 6%, just by enhancing your content? What is the value of being perceived as the leader in your industry, with no risk? Or what could be the cost of not investing in enhanced content and losing market share?
what is the value of increasing online revenue more than 6%, just by enhancing your content?
Some may argue that revenue growth will happen organically in the online space due to the shift from brick-and-mortar to online sales. But why not exponentially increase your revenue growth through a higher conversion rate, a higher lead-to-close ratio, customer site retention and a reduction in your bounce rate?
So why not partner with an industry leader to help you invest in your online strategy in a way that is proven to bring some of the highest returns possible?