If you’re a business in Cyprus and are looking to boost and advertise your presence in Cyprus, you’ll soon realize that not many mediums are able to provide you with effective exposure that drives revenue back to your company. Revenue is the keyword here, as impressions, views, likes, follows and comments cannot be cashed out.
So, you have built your website, created your social media profiles, done the necessary SEO for ranking and realized that this is not enough as people will need to be aware of your existence in order to get to know you and visit you. Somewhere later in the pipeline you’ll have the chance of engaging with them and converting them to customers, hopefully.
You’ve tried Social Media Marketing, well Facebook boosting to be honest and realized that you’re actually throwing your money down the drain. You also tried Google Ad’s and even though they perform, they are expensive more often than not. And suddenly a local marketer suggests that you promote your business in one of the local news portals like Sigmalive, Philenews etc. So you get in touch with the sales teams of these media companies, hoping to have found the solution you were hoping for. But have you?
Let’s start with the basics. All local media outlets are selling impressions or page views. No one is selling with a CPC rate but to be fair this is mostly true for almost all media outlets around the world, so Cyprus is not an exception here. What this effectively means is that you’re paying the money irrespectively if the user clicks on your website banner or not. Is this necessarily bad? Not really, if branding is the aim. What is worse is that many online portals in Cyprus have not done any research related to banner placement practices and are not really concerned about the viewability of the banners. Picture this, you pay for banner placement in a local portal and your banner is below the fold of the screen so a user will most probably not see it at all but you will still pay for the impression of it.
Another issue is the monthly impressions of these portals. The top 3 are getting around 10-12 million monthly impressions and up to 300-500 Users. While these numbers look huge and amazing, it is not clear how much of that percentage is from engaged people that will have an active interest in your brand or service.
Also, when advertising to a local portal you have no traffic targeting whosoever let alone interests or other characteristics targeting. This effectively means that your targeting is as blind as TV or Radio targeting and the return is usually very minimal compared to the cost. So, the cost vs. return ratio is very bad.
So, is it all bad? Not necessarily but in Digital Marketing we have the tools and metrics to ensure that our spending is bringing the maximum return in figures that are important to us. You have data to measure all the activities you’re running online, don’t let that opportunity go to waste.