As the devastating COVID-19 pandemic swept through the world like a viral hurricane devastating the world and everyone in it, small and local businesses have taken arguably the most catastrophic blow of all.
Although the combination of small business loans and government grants provided by an army of small business development centers and corporate branches dedicated to combating this economical disease has helped soften this blow, a new question has emerged for small and local businesses worldwide - how do you advertise your business locally during this disastrous pandemic, where so many of your potential customers are isolated and are staying at home.
Advertising Your Business Locally Online
When we think of small businesses we usually think of companies we would see advertising on the bus shelters and transit, billboards and posters, and luring our senses through a mixture of attractive decor and unforgettable scents and smells. These companies could include your neighborhood bakery, that real estate agent who helped you buy your first house, or even that lawyer that helped you start your small business.
The traditional advertising strategies and techniques that have shaped our society over the past decades have helped grow businesses large and small, while targeting customers within local markets and global markets alike. While the traditional OOH and transit advertising is surely a great and reliable way to reach your target market and create brand awareness, in the currently unpredictable state of the pandemic a lot of advertising has shifted online as the companies involved in online streaming, shopping, communication and social media are showing explosive growth during this time of crisis.
Advertising Online Using Search Engine and Social Media Ads
As a lot of companies pull their Google and Facebook ads during the pandemic because of funding or supply and demand issues connected with their business and niche, the online world is surging, with streaming and social media use reaching all time highs.
According to an article by MediaKix, if your target audience is the younger Generation Zers, 85 percent of Generation Zers use social media to learn about new products.
Search engine use is also as high as ever and growing exponentially. The world is online more than ever. While there are a huge number of budgetary constraints involved in advertising today, one thing is certain - there is no better way to sell your products than to transition your business online and being able to both; reach your target audience better online and supply them with your products and services.
Traditional Advertising vs. Influencer Advertising
While traditional advertising may bring about a sense of security and trust with its various measurement tools and analytics, studies show that influencer marketing is a lot more effective in generating high ROAS than traditional online advertising such as Google or Facebook Ads.
Let’s take a look at some of the statistics behind this statement.
According to Wordstream, businesses make an average of $2 in revenue for every $1 they spend on Google Ads. While Facebook ads tend to do a little better, only 42% feel that Facebook ads are effective according to LifeMarketyng.
Influencer marketing is a lot more lucrative however. According to Influencer Marketing Hub, businesses are making $7.65 for every $1 spent on influencer marketing, and based on the 2018 Launchmetrics study found that 46% of professionals say they get better results when working with micro-influencers.
The bottom line for businesses is to get a high ROI, and the statistics clearly show that the ROAS provided by influencer marketing is a lot higher than traditional ads in today’s world where social media is king, leaving you more room to make a higher profit and ROI.
This new and exciting marketing strategy is helping businesses to generate web and social media traffic faster and create brand awareness that has the potential to spread virally. By combining this technique with powerful product tags or landing pages, many businesses are harnessing influencer marketing to create viral brand awareness for their brands while generating captivating direct-to-consumer ads at no additional cost through the power of creative influencer ads.
Find Local Influencers for Your Small Business
Influencer marketing is known for its difficulty in targeting and providing measurable and trustworthy results. A lot of these barriers have been caused by the fact that this advertising method is one of the newest forms of advertising and has yet to show its full potential.
Choosing the right influencers for your marketing campaigns is crucial in maintaining a good ROAS, and depending on the size of your business, your product or service, and your target market, you may need to choose influencers that are extremely niched in a specific area or location. After all, would it really benefit your business if Kim Kardashian posted about you or your business? Or would you rather have that local mom influencer who is followed by everyone in your area post about your latest baby products or that local foodie post about your new up-and-coming restaurant?
At AdMass we have noticed this missing element in the influencer marketing world, and have created an algorithm that lets you find thousands of influencers in your city, helping you cut through the noise of traditional social media ads, making sure that your ad spend goes only on brand awareness and lead generation within your local demographic, allowing your local business stay on the top of your customers mind during these times of social isolation.
Want to check it out for yourself?
Test drive our tool for free and find local influencers on instagram to help you promote your small business to your community.
While there are a lot of effective ways to advertise your business locally, the trends are clear - the world is shifting online. Bill Gates once said “If your business is not on the internet, then your business will be out of business”. While this was said long before the COVID-19 pandemic, this remains true today more than ever before, and is reflected by the clear worldwide shift to e-commerce and online advertising.
Whether you are creating a small business that you wish to grow into a multinational franchise or corporation, or you are running a small family business, the wave of influencer marketing is sure to carry you with it to brighter pastures, or bury you underneath its power - it’s up to you how you wish to embrace this new trend.
Find out how AdMass can help you grow your business and advertise locally.