Attention is grossly under-priced in today’s markets. Whether it’s priced on Facebook, Instagram or LinkedIn, or you’re using influencers, in any case, the attention of social media audience members is very cheap.
This will not last long though.
You see, once upon a time Google Adwords were cheap. Before everyone figured out how to use it, you could generate any number of leads or sales using a generous helping of well priced CPC clicks.
Now if you want to be even remotely competitive on Google Adwords, you need to be stumping up a decent budget. Heck, even Bunnings pay handsomely for clicks on the word “hammer”. Surely not too many people are searching for it – and yet they’re still paying high dollars.
What once might have cost as little as $1 can now cost as much as $100. If you do some analysis you’ll find that the major banks in Australia are paying upwards of $100 PER CLICK for mortgage inquiries through Google Adwords.
A different price.
The wonderful opportunity that presents itself now is the fact that you can use the paid offerings of most of the Social Media platforms to great effect, for a price that’s still considered reasonable.
In a recent example, we paid as little as 8 cents per 10+ second view on a series of videos we placed on Facebook and Instagram. Sure, you might say that it was only 10 seconds, but if your video is even half interesting you’ll get people watching for much longer than the 10 second allocation you’ve been charged for.
So assuming that you’ve got an even half decent message & creative, you can be pulling in 1,000’s of views on your video for dollar figures that don’t even hit triple digits.
Value like this is rife across all the platforms. Sure you might pay a bit more the more targeted you get, but the value is still there.
Influence by Influencer.
Ironically, the best value at the moment in Social Media actually sits with the people themselves, not necessarily the advertising platforms.
Owing to the fact that there’s no industry standard, no enterprise bargaining agreement, no award rate or the like, social media influencers can charge whatever they like. This leads to opportunity.
Sure, some influencers will charge a lot, probably numbers that are entirely unreasonable – but at the same time you’ll trip across influencers who are massively under-priced. That’s where the value lies.
You can be getting reach into the 10’s or 100’s of thousands, for dollar figures that again don’t even hit triple digits!
That’s a lot of attention for not a lot of money.
Longing for Organics.
We hear this all the time. So many people still pine over the loss of organic reach.
You’re using platforms that are fundamentally free. They have reach that surpasses anything you can find on ANY other medium, television included.
How long can you expect that to be free for? They’re selling you access to people – the people have to get it for free, but you don’t!
Get over it, the days of relying solely on organic reach are gone. The ad platforms are there, they’re very cost effective and the flexibility is insane.
Use it or lose it!