3 Scourges In Digital Marketing For SMEs Advertisers...
Those who have embarked on digital marketing campaigns might have experienced disappointment one way or another. The hope of advertisement return on investments tend to leave SMEs disenchanted.
Sometimes, this can be due to unrealistic expectations. Others can be due to poorly designed metrics to measure the success of a campaign. There are also agencies that paddle snake oils.
Digital marketing can be fairly broad and broken up into segments. Each segment serves different objectives. Frankly, not any SME businesses are suited to run digital marketing campaigns or at least not those which expect quick wins.
But nonetheless, if you are already convinced that your business is suited to run and with reasonable budget, these could be some pitfalls to look out for…
1. Agency fee verses advertisement spend (ad spend). There are usually two components when you receive a quotation for a digital marketing campaign.
- Agency fee can also be known as professional fee, where the agency charges you for the work they do, such as design, conceptualisation, project management and hosting
- Ad spend is the amount which would go to the platform owners, e.g. Facebook, Google or other publishers. The agencies usually don’t get a cut. All the money goes to platform owners. As a rule of thumb, agency fee should not be higher than ad spend. Some SMEs I spoke with over the years shared that this apportionment was what they paid for, which I opined that it didn’t make sense. One recent example was an engineering service company with a budget of $12,000 - an agency indicated in its quote of $7,500 in professional fee and $4,500 in ad spend on Google platforms over a six week period. This is not quite right. If you are holding a quotation with this arrangement and about to sign, stop! Re-discuss with your selected agency
2. Avoid generating of website traffic, showing number of clicks or collecting ‘Like’ as performance metrics. Besides being outdated measurements, these are mostly useless for SMEs even during the early years of digital marketing. Depending on the nature of your digital campaign and objectives, try to go for lead collection, e.g. MQLs or marketing qualified leads
3. Avoid having your ads appearing in unsavoury websites. This of course, depends on the type of businesses you are in. Discuss with your digital agency to draw up the perimeters of where your ads might land
There are other areas to digital marketing. Hope these help you to improve your research, ask relevant questions and uncover what you might not know before.