Sounds like a wrestling tag team I’m sat here trying to think of some appropriate menacing names.
In the blue corner is the younger digital marketing. A more resourceful contender who can target age, gender, lifestyle and give more accurate reporting of results. Has a better ROI for SME’s and doesn’t require selling your Grandmother in respect to commitment and getting the T-shirt.
And In the red corner, the more traditional ‘Big Daddies’ of advertising. Newspaper adverting is in decline and so are the readers. Commercial TV and radio are a chunk more expensive, requires more commitment, a slower ROI and less accurate reporting of results.
With the implementation of GDPR this year, direct print marketing will see a resurgence with the cleaning up of the direct marketing industry. And will be a great option to re look at in 2018. The regulations are softer in respect to leaflet drops and direct post marketing. Because of the cleaning up of customer lists the letter box will see less competition for promo materials.
To become king of the ring, you first have to start in the lower divisions, getting your marketing plan right. Start off with digital marketing that you can control, website, SEO and social media first. Moving into pay per click and google display advertising if applicable. This will give you a better ROI in a shorter time with better reporting and the ability to refine your advertising as you go.
There is still a place for local radio and TV advertising but you have to get the basics right first. As someone who worked in the radio industry for over 20 years I can see the benefits of it. The radio industry is slowly trying to adapt to the digital market with cross promotion of the digital platform and the airwaves. But you are still setting your conversion funnel quite wide. Radio advertising works better as a drip media, in my experience you have to commit to a longer term plan of advertising and the higher spend to get ROI.
SME’s don’t have a giant haystack of budget, so start off with a plan and stick to your budget. You are planning to stay in the ring for a long time yet.