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I was thinking a lot recently about the constantly evolving world of internet marketing and the resources startups and businesses buy from digital marketing companies.
Many of you have recently recalled the news about some firms that pushed dollars from YouTube and causing several famous producers of YouTube content to be very angry over sales drops, which, I’m sure, also did not appease Google and YouTube.
Then I hear where Proctor & Gamble, a big global digital marketing investor, recently cut digital ads by more than US$140 million because of unsuccessful online advertisements. Why did they claim that these commercials had not worked? Their most important explanations were that all of their advertisements were finally connected to contents that were of unreasonable nature, such that Youtube could not distinguish which networks were good places to put the ads and businesses received their names and ads in relation to contents to which they did not want to appeal in any way. Second, much of their publicity came through platforms and places in which “bots” watched publicity rather than humanity.
The funny thing was that after these cuts in coverage, these businesses found almost no loss in revenue or growth. The only improvement was the greater efficiency of media spending in revenue.
JP Morgan Chase reduced the 400,000 sides in March which allowed advertisements to only be put on approximately 5,000 pre-approved pages, and, as quoted in the New York Times by the Chief Marketing Officer, Kristin Lemkau.
We saw companies moving steadfastly from spending on TV commercials toward internet advertisements in recent years because frankly there were far more online advantages per dollar invested. Thanks to the windfall in advertising capital in many digital marketing companies, there has been dramatic growth in just over a few years.
It was utopia for a while, but now businesses learn as the examples above show. The statistical maps and graphs you would now create illustrate the effectiveness of your advertising spending to your management teams. And so they will find out where their bang for the buck is not and study this data in order to see why – which is why all kinds of cutbacks happen in the business landscape and the reasons why the reductions occur.
It becomes more evident today to acquire ad spending resources from these firms that digital marketing services companies were better positioned to show comparative proof that the money invested produces the desired financial returns. And as a marketing company, you must be able to address questions about how you can handle the funds and make sure that actual persons, not the machines, see the advertisements and the ads are put in high-quality locations connected to quality material. If you can’t, the effect is that you can be canceled just like JP Morgan Chase’s 3,500 web pages.
All and all, becoming a digital marketing organization these days is becoming more difficult and much more difficult. In order to find ways to spend corporate promotional budgets, Internet media agencies would have to do more due diligence. More due diligence means more effort that reduces profit margins. But you will have to do this something positive if you wish to remain in company for a longer period of time. Those that do, will buy up more companies from media companies who don’t.
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