If you’re trying to persuade someone to make an investment, buy some insurance, please consider that human beings are terrible at buying these things. What we’re good at is ‘now.’ Like, right now. All of us expect to get it today, not tomorrow, we want ROI on that ad campaign today, not tomorrow. When we buy for the future, what we’re actually buying is how it makes us feel today. Selling this concept is hard work.
I think it’s a good idea for us to save this article and come back to it in couple of years and see if my thoughts are correct. The marketing world is hectic, it’s not how it’s used to be in the 90s. You can’t just put up an outdoor ad and wait for people to come to our store and buy our products. Today the ad prices on social media and influencers are underrated. 1,5,10 years down the line the prices will skyrocket. The reason why is because huge brands like Coca Cola, P&G, John Lewis and others still have billions of dollars/pounds on traditional advertising spend. To be more precise with numbers that they spend, here are the top 10 advertising budgets from 2016 (BusinessEurope);
Where do you think all these budgets are going to go once they realise that their ROI is zero because people don’t pay attention to their ads? Of course social media and influencers! I’m sure you heard of supply and demand right? Well the prices of PPC for example will go skyrocket because once these budgets go to social (Facebook ads to be more precise) the clicks that we are paying today will be no where close to what they will be later on. Have a look at the numbers above again please. All those budgets are coming and I’m pretty sure Facebook, Instagram, Snapchat, Google and other media will increase their prices dramatically. Influencers too will be charging way more than they do now.
The reason why is because in 1/5/10 years the attention of the consumer will be minimised to the maximum. In other words the cost to acquire a client will increase. As small companies, we have a huge advantage today because we can predict what will happen in the future and we can act today. We can start building a hub of information around our brand. How do you build a hub you might ask? Well you build a hub by creating amazing content and start using all the platforms, gather data such as email addresses, phone numbers and build a community on social, while always evolving and adapting with new trends.
What I bet my career on is that in the next 5,10,20 years things are going to change and companies that are comfortable now and don’t do content marketing will lose a massive opportunity and will have to invest x10 more than they would have invested today. There is a great quote that says do it now because later sometimes becomes never. Mind you of course there are people that will blame everybody else like Facebook for increasing their prices and influencers for being so expensive and so on. We both know that successful people always take full responsibility of their own mistakes.
In the next couple of years there will be way more influencers and more competition, we all need to step up our game and evolve because in this world in order to sell and grow a sustainable business we simply must.