Advertising
16.12.20

Advertising – getting the best bang for your buck

This year has made many professional firms revisit their advertising spend as Covid has changed the way companies engage with their audience.  People’s habits have had to adapt, especially as remote working has taken away that window of opportunity to catch up on newspapers and magazines on daily commutes.

Initially, we saw an increased number of media titles take down their paywalls, as well as making their online subscriptions more appealing as discounted rates and free trials were offered to entice their readership, and most importantly their advertisers.

Whilst paid for adverts in key media titles still have a place, it appears new virtual ideas are replacing this spend.

 

Allocating your budget virtually

When it comes to advertising during a pandemic, there are various channels that can create better value for money, whilst still giving you maximum outreach and exposure. This is a conversation many professional firms are having as they look to reallocate their budget to get the best return on investment.

Online webinars and roundtables have both seen a huge uplift, and with great success. These types of virtual events are allowing firms to engage with a captive audience on a global scale, whilst giving them the opportunity to interact and discuss a specific topic that is of interest and relevance. Not only are these events a good use of budget, but firms can really benefit from the pre and post advertising they offer as you maximise the promotion across social media channels, especially if you are chairing or sponsoring a virtual event.

It also provides you with the chance to follow up post-event with attendees, therefore acting as a really powerful business development tool. Something an advert cannot provide.

White Papers

If you’re looking to invest your advertising budget in activity that will keep on giving, then a white paper is a really sensible choice. Not only does this give you instant credibility within your sector, it can also double up as a valuable marketing tool. Mainly because you can email the white paper to your current and prospective clients giving you the chance to share your industry insights and position your firm as an industry expert. Your database will naturally grow as you make new connections, so this provides another reason to share your white paper by way of an introduction.

Furthermore, a white paper is a credible piece of content to share with aligned media contacts and can act as a useful talking point and introduction to key journalists – as well as sharing across your social media channels. All part of the profile and reputation building process.

Planning for 2021

As we look towards a new year, for many good reasons, virtual events look like they are set to continue. Therefore, you need to consider all options that create the best financial return, and being virtual appears to provide this, for now.

Whilst people are not physically picking up newspapers or magazines to read, try and find alternative solutions in the meantime to connect with your target audience and prevent your message from getting lost.