Think before you spend. That is today’s lesson. We’re talking about spending with regard to what you spend on advertising, especially online advertising. We have a large client who inquired about advertising on the front page of Yahoo!. Before we even looked into what it would cost, we knew this was a bad idea.
Yahoo! has massive reach. The home page gets nearly 2 billion impressions PER DAY. That is a lot of eyeballs. It’s fairly analogous to advertising during the Super Bowl, both in terms of reach and expense. So yes, advertising on the front page of Yahoo! would give you an incredible amount of exposure and probably drive a lot of traffic to your web site.
But even if you are a big enough company to afford Yahoo!, is it the best use of your money? Probably not. For a fraction of the cost, you could run ads on dozens or hundreds of web sites much more closely aligned with your target market. For instance, if you are a financial services company, you could run your ad on many financial-related web sites, where people are already interested in your type of service, for pennies on the dollar of what the Yahoo! ad would cost.
You should apply this kind of thinking to all of your marketing. Ask yourself: am I spending my money on an advertising forum that will expose my message to the maximum number of people who are good prospects for my service at the best price? If you have lots of money to spend on marketing, we still think you should apply this kind of thinking. Spend your money on targeted advertising first, and then if there are funds left over, you can use those funds on a more broad, branding-oriented campaign.