As a social media manager for some of the top-grossing residential real estate firms in New York, Kyle Lorber understands the value of a good digital marketing strategy. There is a time and place for traditional marketing, says Kyle, but the future is almost completely digital. And it’s not just for major companies like the ones he serves. Digital marketing is the most cost-effective marketing tool small businesses can use for customer engagement, client acquisition, and increasing revenue.
In today’s world, everyone is online. Long gone are the days when you could get away with advertising in the yellow pages and wait for people to call. If you don’t have a Facebook page, a website, or at the very least a Google My Business account, no one is going to be able to find you, says Kyle Lorber.
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“It’s unreal how many people you can reach through digital marketing before you ever spend a dime”— Kyle Lorber
97% of people research businesses online before deciding to visit in person. Whether that’s looking up an address and checking business hours on Google, or scrolling through Facebook for reviews, what your online reputation looks like matters. And the more filled out and engaging your online presence is, the more people your company will reach.
“It’s unreal how many people you can reach through digital marketing before you ever spend a dime,” says Kyle Lorber. If your content is engaging enough, people will share it on their own, and – if you’re lucky – it could even go viral. And that’s priceless advertising.
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Online Advertising is Cost-Effective
Another great thing about digital marketing for small businesses that have to watch their budget is how affordable the ads are – especially compared to traditional marketing. An ad in a relevant industry magazine could cost you $500-$1,500, and you have no idea how many people actually saw it – and your reach is limited to the readership of the magazine.
With digital marketing, you can reach thousands of people with a budget of $50-$100, and Facebook, Instagram, Twitter, or Google will track every interaction and view for your analytics. Boosting a post on Facebook for $20 can easily get you 10,000 views depending on where you’re located – that’s invaluable name brand recognition, says Kyle Lorber.
The average cost-per-click for Google Ads is between one and two dollars. Compare that to the cost of putting a commercial on national television – a 30-second spot costs around $115,000 if it’s broadcast nationally. That’s about $5 per 1,000 views! And digital marketing allows you to engage with your customers in real-time. With traditional marketing, you don’t have any idea who’s watching and no way to communicate with them.