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The Pandemic Era has ended and now we’re left to navigate a marketing landscape that changed dramatically in the past 2 years. More businesses than ever are active online, pushed into the digital marketing space in 2020. But unlike in 2020, consumers no longer spend all their time online. Travel has resumed, in-person school is back in session, and stadiums and entertainment venues are back at full capacity. This has created an imbalance between the demand of digital advertisers and the attention of the audience. There’s more competition for fewer leads. Consequently, media costs continue to increase.
So what’s a business owner to do? Resist the temptation to pull all your budget out of digital marketing. While the costs are going up, that does not mean it’s an ineffective tool. You run the risk of cutting off a very viable lead source for your business. However, it is important to understand that you won’t see the same Return on Ad Spend (ROAS) that you had in 2020 and 2021. If you’re looking to keep your lead volume consistent, you’re going to have to spend more for it.
Now that we’ve established that media costs are up, here’s how you can make sure you’re spending your budget more efficiently.
If you need help preparing your brand for 2023, schedule a call with the Brand3 team to get started today!
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