Digital marketing is a great way for agents and brokers to sell their products, but they'll be disappointed in the results if their expectations aren't grounded in reality.
As effective as digital advertising campaigns can be, there are limits to the response sellers can expect. Digital marketing isn't an exact science, so patience is important.
Here are seven common misconceptions about selling products using digital technologies.
1. Digital marketing is cheap (false)
While digital marketing is typically less expensive than traditional advertising, it isn't cheap. LinkedIn Pulse reports that using digital media doesn't change the fact that you have to spend money to earn money.
If you're looking for a $1,000 return on a $1 investment, it's time for a reality check. There are no guarantees. Investing in any kind of advertising carries an element of risk.
[Once it's published, add call out or link to "12 Top-Notch Ways to Spend Your Insurance Sales and Marketing Budget."]
2. You can put your digital marketing on autopilot (no way!)
Some businesses wrongly assume that they can implement a digital marketing strategy and then forget about it. Technopedia notes that the goal of digital marketing is to find ways to engage customers and encourage them to interact with brands.
Advertising digitally requires adjustments to make sure you're delivering the right messages to the desired audience. Unless you're prepared to outsource your ad campaign, be prepared to spend some time monitoring the results.
A site like Google Analytics can help you better understand your audience, leads, and customers so you can make the proper adjustments. If you need help setting up an account, check out this beginner's guide from Moz author Kristi Hines.
3. You'll get immediate results (unlikely)
If you begin your digital marketing effort expecting instant gratification, you're in for an unpleasant surprise. Digital marketing group Sanctuary advises online advertisers not to get their hopes up too high for a speedy response. Often you won't see any significant changes in such things as online traffic, search engines rankings, or the number of unique website visitors for a year.
4. Digital marketing isn't for small companies (untrue)
Digital marketing isn't just for large companies with huge advertising budgets. Digital Agency Rankings says online advertising is a very good tool for small businesses, since it enables them to reach large audiences of potential customers.
Selling online has leveled the advertising playing field. Each business is equal when it comes to digital marketing; it is the quality of the campaign that sets them apart. A good digital marketing strategy can help a small company stand apart from its competitors.
5. Developing creative ideas is easy (not really)
It isn't easy to come up with great ideas for digital marketing. Remember, you're one of many agents and brokers who are trying to win buyer attention.
Business Know-How suggests that you find something that distinguishes you and your products from the competition and promote it. The difference could be your service, the line of products you offer, or even a slogan that people can relate to.
Chapter 5 of Moz's "Beginner's Guide to Content Marketing" can help you get started brainstorming!
6. You can succeed without research (wrong)
You can start a digital marketing strategy without doing any research, but you won't be able to measure how effective it is. You have to understand where your business is coming from in order to determine whether digital selling has made a difference.
Research allows you to collect information about consumer preferences and market trends that can help refine your message.
A report on LinkedIn Pulse recommends consulting a digital marketing professional before you get started.
7. You can get by using just social media (incorrect)
Social media websites like LinkedIn and Facebook are only one element of digital marketing. Fourth Source points out that a digital campaign may incorporate a wide range of communication platforms, such as computers, tablets, smartphones, radio, and TV.
Digital marketers can reach consumers through websites, personalized emails, and interactive advertising. If you limit yourself to social media, you'll miss opportunities to promote your products.
