Why rely on Facebook and Twitter, when you can build your own community?
Online advertising is getting ineffective, and it costs more than before. It costs more because tech companies are creating artificial…
Online advertising is getting ineffective, and it costs more than before. It costs more because tech companies are creating artificial scarcity in the minds of the marketers. Facebook ( FB+ Instagram + Whatsapp) and Google own nearly 60% of digital advertising.
Last year brands spent $ 88bn on digital advertising. Most of it went to Facebook and Google. They wants brands to spend money on SEO, Pay per click campaigns, and advertising. But, the supply of media has increased endlessly, and it costs less and less.
Jaffer Ali, who is a serial entrepreneur and marketer, writes, “It is my contention that we are experiencing digital media costs so close to zero, let’s call them zero. These costs extend from content creation to distribution. Not only are the marginal costs of digital content and distribution costs near zero, but the fixed costs of the infrastructure are also near zero.”
Local and small businesses will benefit the most, as they do not have to run after the big platforms. The low cost of creating and distributing digital media has created an almost unfathomable oversupply of potential online advertising impressions. It’s time to build your own community, and reach out to them.