Using the Internet to Stretch Your Ad Dollars by Michael Pilla, mQuotient, LLC November 2008 | Westchester, New York
Recommend this article More Articles by Michael Pilla

I’ve been around long enough to have weathered a couple of “financial meltdowns” in my time, so I guess the good news is that there are ways to get through them with your business intact.

The companies that do well in times like this are the ones that continue to promote themselves through the hard times. With all the pressure to cut costs, many companies reflexively cut their ad budgets. They assume that since consumers are pulling back on their spending anyway, their advertising would be falling on deaf ears.

But wait...!!!

The problem is that out of site is out of mind, regardless of economic conditions. Your target market is not going to give you extra credit for being frugal. If you stop promoting during the lean times, people will forget you exist when things turn around. They might even think you’ve gone out of business and you’ll have to spend EXTRA ad dollars to reintroduce yourself to the market and reclaim your customers.

But wait...!!!

If you haven’t made the jump already, or if you’ve merely dipped your toe in, now would be the time to shift those add dollars to the internet.

The internet now provides businesses of any size a low cost way of staying in touch with their target market. As opposed to traditional advertising methods, online advertising is trackable (so you can tell what works), easy to distribute, flexible and easy to target.

There a number of tools and techniques that can help you keep in touch without breaking the bank.

Search Engine Marketing
Formerly known as Search Engine Optimization, Search Engine Marketing (SEM), takes a broader view and encompasses anything that gets people to “Google” you, including selecting keywords, conducting Adword campaigns, online PR and Advertising, viral marketing, and so on.

As for costs, Adword campaigns are pay-per-click based and you can determine how much you want to budget per day. Since you have access to detailed tracking information, you can modify your campaign on the fly. The costs for online PR and viral marketing can vary, depending on how creative you are, though many sites are happy to accept article submissions.

You should update your site to be more “SEM Friendly” and update your content to appeal to current and potential customer/clients. You can even create special sections of your website to appeal to different market segments. You might decide that you need a complete redesign or additional functionality or even a rebranding. This could be the most single most expensive item in your campaign

But wait...!!!

It can also be the key component in making your campaign a success. This is the place where you close the deal. To get the maximum value out of the dollars you put into SEM, you need to convert visitors into customers. Great rankings and lots of traffic are nice, but you’re looking for a return on your investment. You need to give people a meaningful experience (in the business sense) once the find your site or they will quickly move on.

Social Networking
The hottest two words in marketing, this latest evolution of the web is just starting to come into its own. While the jury is still out on just how effective these sites are for business, the cost of entry is low...as in FREE!

Start a Face Book or My Space Group for your business. You can also do one for yourself. Whether or not you actually conduct business, its a great way for you remind people that you’re still out there. Also, you could get insights on your clients by seeing what else they’re interested in.

Video is becoming a ubiquitous marketing tool. Almost any existing video can be re-purposed and posted to these sites, again, for free.

But wait...!!!

If you think Face Book MySpace is a place for college kids and (and their parents) and you’re looking for a more “Business-Friendly” environment, sign up with LinkedIn and or Plaxo. These people are here to network. One of the nice features on LinkedIn is that members are able to post questions to other members. Answering questions is a great way to get recognized as an expert, elevating your profile.

Other Tips and Tricks

Recreate your printed newsletter or other corporate communications as digital publications (E-zines, or PDFs) You’ll save money of printing and distribution. You’ll also be able to make changes instantly, keeping them current at little or no cost.

If you have a database of e-mail addresses, start an e-mail marketing initiative. Its a great way to keep in touch with current clients or reintroduce yourself to old ones. The best part? No printing costs and no postage.

Start a blog, even if you have to hire someone else to write it. Some blogging sites are offer free membership and you automatically become part of their network, so people interested in your area of expertise will be able to find you. You can also contribute to other blogs or submit articles or press releases to other website.

We’re not suggesting that you slash your ad budget and rely entirely on free internet sites to promote your business or organization. The idea is to get the same “Bang” your getting now for less bucks, or even more “Bang” for the same bucks. All of these suggested techniques have the advantage of being trackable, and as you’ve seen, they can be implemented for little or no cost.

These tools will allow you maintain a high profile in the marketplace while allowing you to hold the line on cost. You’ll also be poised to take full advantage of the situation when the economic climate improves.

Michael Pilla is the Co-Founder and Chief Creative Officer of mQuotient, LLC an Internet marketing company that transform businesses, extends brands and increases sales.

Before starting mQuotient, Michael was the owner of pilla marketing communications (mpilla.com). Previously he was an Associate Creative Director for the Sponsorship Group of iVillage.com, where he created interactive advertising for Ford, PNC Bank, Clinique and other Fortune 500 companies; and a web site developer for IBM, GE and UBS for Modem Media. In addition he has designed video packaging, corporate brochures and two national magazines for teens.

A graduate of Pratt Institute with a BFA in Communications Design, Michael has taught at Pace University, Mercy College and Pratt Institute. He also conducts Internet marketing seminars for businesses in the tri-state area and regularly speaks an writes about internet marketing issues.

Phone: 914-220-8179

Back to Columns page