Advertising is something we marketers know how to do. There are many examples to learn from as well as multiple courses taught on the best practices of Advertising. Acknowledging that it is hard to change old habits, habits can be changed if we focus on change. But large companies advertise, why shouldn’t we? Besides the fact that it is very expensive, times have already changed.
Eighty-six percent of people skip television ads. Forty-four percent of direct mail is never even looked at. It is discarded without even people really casting an eye upon it.
Advertising does have benefits. Unfortunately in order for to you to attract more people to your website, you need to spend more money. You are not really building up anything that is a long-term asset within your company. You are just throwing out messages that say “hey, look at us.”
The addiction to advertising basically comes from the disease called “Lazy Marketer Syndrome”. This disease is an over-reliance on advertising to “rent” an audience from another company, such as a billboard company or buying Google Adwords etc.
“Renting” your audience from someone else can be a component in your marketing structure but it should be a minority instead of the majority.
To have a long-term sustainable business, let’s change your perspective. Rather than “renting” that capability, with today’s market environment, building assets should hold the majority of your marketing efforts. If you owned a factory, you would have machinery to be able to manufacture products. The machinery inside the factory is your assets that provide ongoing value to your company.
As a marketer, you can build assets as well. Your website that is SEO-optimized with lots of links and good online traffic is one of your best assets. Another asset is your company’s blog with many subscribers reading on a regular basis. Building a social media presence and lots of people are following you and becoming fans and friends is an asset as well. Don’t forget your email list.
How can you build those assets to continue to add value to your company while minimizing the amount of cash spent on each every month? The second your credit card is over the limit, your traditional advertising methods stop working and cut your traffic. Building your other assets now can sustain your business more profitably.
Inbound Marketing is a combination of search engine marketing, content marketing, social media marketing, conversion, lead nurturing, and supporting your sales team. It’s definitely NOT advertising.