The vast majority of Portuguese entrepreneurs, and especially those from Madeira, still haven’t grasped the opportunities slipping through their fingers… the budget needed to invest in Online Advertising is still far too small given the enormous results this investment can bring.
That’s right, my friends, Digital Marketing is the solution to all your problems!!!
Let’s take a look. We’re starting a business! We rent or even buy a space, do major renovations to make it look nice and attractive, buy the top-of-the-range computer(s) and smartphone(s), the car or van, the furniture, the equipment, and even the company parrot!! And of course, we can’t forget the grand opening!! And what do we forget right from the start?!
WE DON’T EVEN SET A MARKETING BUDGET!… Ah, whatever’s left over (if anything!) we “spend” on advertising… badly, very badly… What’s the point of setting up a business and making it all pretty if you’re then going to stand at the door with your arms crossed, wondering why customers aren’t coming?! They simply don’t know your company!!
You need to make yourself known, and well known.
The big mistake Portuguese entrepreneurs make – if not the biggest mistake of most – is not having a defined budget to INVEST in Marketing, a budget that should absorb a large percentage of the total available budget! Because it’s the main tool for attracting customers.
And believe it or not, with Digital Marketing it’s still absurdly cheap!
But back to the big MISTAKE entrepreneurs make: they do the exercise exactly backwards. For example, they contact a Marketing Agency to find out how much it “costs to spend” on advertising, instead of approaching the Marketing Agency like this: “I have X thousand Euros to INVEST in Marketing, get me the maximum results with this X”… The Portuguese entrepreneur’s mindset should really be this: have a defined quarterly, half-yearly or annual budget to invest in Marketing, and with that budget get the maximum possible results, not the other way around…
Now let’s look at the numbers. Investing in Online Advertising through the various available channels is RIDICULOUSLY CHEAP (I never tire of saying it). Investing in the main and most effective Online Advertising tools like Facebook Ads and Google Ads brings great returns at an insignificant price.. The cost of acquiring a new customer is so low, and the return can only be huge.
As an example, in Google Ads, specifically search advertising (appearing first in search engine results), I’ll compare the average cost per click needed to acquire a potential new customer in the United States and in Portugal. While in the US the cost of a click on an ad could be around $250, in Portugal it could be around €0.20 for the same business area… As for ads on Social Networks, while in the US a simple interaction could be around $5, in Portugal a good ad costs around €0.005. A Lead from Social Network ads in the US could cost $50, while in Portugal it’s a measly €0.05 or even less…
As you can see, it’s RIDICULOUSLY CHEAP and it’s a true business folly not to invest in Online Advertising yet. It’s the most cost-effective way to acquire customers and boost your results…
