One would assume that because online advertising companies operate in the digital space and are cheaper to hire when compared to traditional advertising, there wouldn’t be much room to waste money but it turns out that it is highly possible for them to waste thousands.
Here is a list of the top 5 ways online advertising services can waste your money:
1. By not moving with the times
The thing about the digital space is that trends move at the speed of light. The same goes for global conversations. It can take people anything from a few hours to a few weeks to shift focus to a completely new topic.
Piggybacking on what people are focusing on is an essential practice that your online advertising agency needs to adopt. If they can’t keep your company and product on topic and therefore visible, they’re wasting your money.
2. By waiting
As mentioned above, things move at the speed of light these days so waiting is detrimental to any business.
Waiting for feedback, approval, documents, images, emails, inspiration and a host of other things is a complete waste of money. Deadlines are assigned for a reason. Make sure they are met.
3. By hiring third-party vendors
Not only is it more expensive to outsource work that could be done yourself, it contributes to the problem of having to wait.
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4. By producing work with multiple quality issues
The problem with bad work is that you will have to go back and fix all the errors which costs money and prolongs the duration of the project, especially if the company has failed to perform its own internal quality assessment (QA). Initially paying more is cheaper than having to pay twice.
5. By focusing ads on the wrong platforms
Different products need to focus on different platforms. Applying a one-size-fits-all strategy to a client or recycling strategies does not ensure a return on investment (ROI) for the client and is therefore a waste of money.
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