I have spent some time researching the attitudes of SME on applying internet in a business growth strategy. SME’s actually do not use much of the Internet for advertising or to establish new distribution channels.
However, SME’s do recognize the importance of the internet in their business strategy to benefit from growth opportunities it presents. In fact SME’s consider the Internet as a vital contributor for business performance but do not apply resources to this area if; from one side, they don’t have or need a growth strategy or from the other, the value of the internet is not vividly apparent to them.
If a SME business owner has a value perception of the internet, adoption of an internet strategy is never far off even though there is no actual planned business growth strategy.
It could be that these firms see outside pressure from competition using the internet, another could be that the company owner just has a very good knowledge of the IT opportunities.
However with most SME who don’t have a planned growth strategy, the value perception of the internet is generally very low, there is usually no internal IT knowledge and perhaps they can’t see any competitive pressure.
If you will allow yourself to take a step back and look at technology adoption rates from the perspective of a SME business owner we may conclude that a change in attitude to business growth is needed and not necessarily a change in the perception of the internet as a business driver.
Show me the money
Why we ask ourselves are advertisers sceptical about online advertising and yet they will place an expensive ad in the paper without giving it a moments thought?
In my view its because the value is not transparent to all of us. I do not question the fact that my ad in the Sunday Times will be viewed by millions of readers. I read the Sunday Times, I can see my ad, my neighbour will too because I know he reads the Times front to back on Sunday afternoon. Somehow advertisers perceive the value of online advertising differently than offline advertising.
Let me be the devil’s advocate a moment by stating:. If you can’t visually illustrate ad performance, don’t bother selling it!
This may sound preposterous to an experienced online marketer. Think of all the wealth of tracking tools, analysis and performance stats I can provide to my advertiser, the possibilities to track ROI have never been finer!
All true, good arguments, but I’ll buy your ad because I know it pays off. You are telling me it will pay off and your statistics tell me this but I still have a problem visualizing the ad you are trying to sell me, I don’t even know these websites you want to place my ad on. On top of that he is thinking your pitch sounds pretty complicated. “I’m sorry we just aren’t quite ready for this right now and besides we don’t really have the budget.”
Turn around Adrank
So if we need to put the money where our mouth is, we should perhaps come up with a significantly simplified way to help advertisers visualize the ROI of online advertising.
What if we illustrate the return of ads by offering advertising conversion scores directly on the ads themselves and outside of any kind of Google AdRank. Current advertisers benefit by knowing if adjusting their creative format, copy or adblock will increase conversions for them but I’ve already made the decision to use Adwords by then. Potential advertisers should also be able to see how online ads generate leads before their very eyes and it makes the whole AdRank system much more transparent at the same time. No need to get out the case studies and analytic demo kit, get out of the hard sell business and back stuck into the relationship business.