Advertising in the past means you had to contact your local newspaper or magazine publisher and pay them for ad space. While this wasn’t an inexpensive option, it was the best way you could do things. Either that, or you pay over the odds to a broadcasting station so that your ad appears in television or radio.
How things have changed! Today, all you need to do is to ensure that you are among the first names that appear in Google or Facebook. Don’t get us wrong, neither is it simple nor incredibly cheap. However, there is a technique to it that you can use to your benefit. It is much more than simply the economic driver of supply vs demand.
The tech giants – Google, Facebook, Amazon and Microsoft – control advertising today. In the United States, just Google and Facebook control three quarters of digital advertising revenues. And their monopolistic control on advertising shows no signs of slowing. People are spending more and more time on Google And Facebook today than at any time in the past.
In order to effectively adapt to the reality in our country, it is vital that companies and executives embrace uncertainty and change. Any digital marketing initiative requires a strategic change of vision from the very top. Part of our services is actually talking to executives to convey the message that any marketing initiative should be viewed as a long-term approach, and not for immediate short-term gains.
Once that is done, it is vital to establish what sub-categories under marketing would be made digital. When it comes to traditional industries like law and medicine, it is good to mix up online and offline mediums, especially in a state like Texas which is predominantly rural. This is how you set the overarching strategy of your company’s marketing activities.
Law firms can look up to DLA Piper as a leading example of innovation and creativity. DLA’s predictive analytics platform to resolve cases of client revenue losses, and its overall embracing of technology, provides them a key brand boost. Ultimately, marketing costs are recovered only through Lifetime Value (LTV) from clients.