Paid advertising is costing SMEs
Many small and medium sized business owners do not have the time to focus on content marketing themselves, or the resources to hire an industry professional. As an alternative, many of these business owners are choosing to invest in online advertising which, according to recent statistics, may be costing them potential business.
One of the most popular forms of paid advertising is PPC Ads. A recent study by WordStream took an in-depth look into the advertising practices of 500 small and medium sized businesses. The study found that the average SME advertiser spends around $1,200 per month on PPC ads.
Even though theses small and medium sized businesses are prepared to spend big on paid ads, they are losing 25 per cent of potential business due to poor advertising practices, according to the WordStream study. They are missing out because of poorly chosen keywords, irrelevant landing pages, and an unspecified target audience.
Another popular form of paid advertising for small and medium businesses takes place on social networking sites. This year's Yellow Social Media Report found that the majority of consumers on social media tend to ignore paid advertising and instead prefer to interact with the brands they follow.
Many businesses have realised the enormous marketing potential behind social media and are working hard to establish an online presence. However, the report found that only 30 per cent of small Australian businesses have fan pages.
Of that 30 per cent, 11 per cent have invested in paid advertising on social networking sites, with Facebook being the most popular choice. However, only 25 per cent of these businesses reported a return on investment.
A large proportion of Australian businesses are choosing to outsource their content marketing in an attempt to save time and resources. The Content Marketing Institute found that 57 per cent of Australian businesses outsource their content. The results are definitely worthwhile – effective content marketing can increase lead generation, brand awareness and, ultimately, sales.
Posted by Dylan Brown