It’s a better idea to hire a cogent company than to go it alone in today’s market, as digital marketing has become fundamental to modern commerce. At the absolute least your marketing putsch should result in doubling of money, not loss. That said, sometimes ROI (Return On Investment) can’t be measured weekly, monthly, or even quarterly. Sometimes you’ve got to look at such things on a yearly basis, and in many cases that’s not even enough. George Lucas sold Star Wars to Disney for $4 billion in 2012. Here it is February 2016, and Disney’s only made back just-under half of that investment on their new film. Since Star Wars VII still has a long run ahead, and the sequels will do well if correctly marketed, Disney stands to make a profit; but they’re not going to see anything “in the green” for at least another year or two. That means their ROI isn’t measurable until (at least) five years post-acquisition.
Will you be making transactions so large? Probably not. The point is, your ROI may not be immediate; ergo, look at marketing expense as irredeemable loss until your business has gained momentum to curb such spending. Think of it operationally; like the cost of renting your office building. In today’s market, digital marketing is absolutely necessary for successful operations.
Say your business is carpet-cleaning. You’ve invested in local newspapers, the yellow pages, and radio, but it seems like you’ve got no ROI at all. Should you keep at it? Well, maybe, maybe not. If you’re in a rural community that doesn’t have the internet yet, maybe it’s time to add word-of-mouth to the docket. Otherwise, you need to consider pulling out funds from old means of marketing and funneling them into the digital realm.
Did you know that 97% of customers use the internet to research local shops? At least, according to BIA Kelsey. You know why that is? Because the market has become millennialized. Millennials came into adulthood at the tail end of the nineties and early aughts, and so they matured with the internet as their main conduit of information. How do they look for a carpet cleaning service? They simply Google: “Carpet Cleaning in ____ (whichever town they’re in).” That’s one reason 33% of all web-traffic goes to the first link that appears in Google. This means your best bet for obtaining solid ROI in a hypothetical carpet cleaning service today is the use of internet marketing techniques to buffer services into that first-page, first link slot. SEO–Search Engine Optimization–is a great way to do this, as are PPC (Pay Per Click) campaigns. Which particular campaigns work best for you will depend a lot on your business.
In either case, without some understanding of the digital market, digital marketing endeavors will yield decreased ROI. While digital marketing services might cost more, such professionals understand the ebb and flow of the modern millennial market, and have a much more secure chance of obtaining profitable returns for you.