Return on Investment is what everyone looks for as a metric of growth in any venture (At least that’s the assumption that we’ll make for this post, comment if you disagree). Now how do you know what a good return on your investment is?
Indulge us in a little role play, say you are an executive in an industry. Let’s take a high value industry, film, with over 100 worldwide movie releases rated and ranked already as at 16th May 2016 . That translates to 1 movie release a day.
This movie has taken up your company’s resources in time, manpower and considerable financial weight just to produce. Yet to see a return, you have to get enough people interested in it to want to buy ticket to a cinema rather than wait for a clear copy torrent to show up online. (What is a torrent? Comment)
Now back to your investment our dear executive, to see your return, you have to start marketing of course but how? A billboard, fliers, a TVC, an activation? All valid answers but remember, your competition is 1 movie a day, worldwide. So do you take up billboards on major roads all over the world? Is that a wise investment that will yield you a return or a loss? What about the various segments you would like to target? How do you start targeting every identifiable segment while maintaining good returns and tracking where you don’t?
Not to take away from traditional marketing but the bottom line is that it doesn’t hurt to have digital options that allow you a greater level of diversity and dynamic reach. To get a lot more return on investment. (How? #askLegacy) We’ll give you tips every week on how online marketing can greatly impact your bottom line.
Or if you’d like to see what we can do first hand,