Picture yourself in a coffeehouse with a close friend discussing the most popular bags from Hermès. Now picture yourself heading home on that same day on a taxi and while scrolling through your social media feeds, you are bombarded with advertisements related to Luxury handbags and accessories.
These are the aftereffects of digital analytics done to analyse a consumer’s lifestyles and behaviour to present the most relevant products that these algorithms have deemed for the individual. Digital analytics are widely utilised by businesses to match with consumers who have interests in similar products. For avid internet consumers like me, this has certainly been an effective marketing tactic as I come across advertisements on social media and websites all the time.
And it doesn’t just stop there. Many businesses have incorporated search engine optimisation in their marketing strategies. Search engine optimisation allows products to be displayed with priority whenever an individual searches for something relevant. For example, googling the word ‘jacket’ would show E-commerce websites such as ASOS or Pomelo Fashion at the very top of the search results. With the right words attached, companies have the ability to be the instant answer to any consumer’s searches. This is why companies pay as much as SGD2,900 for consultation on search engine optimisation.
The price of such consultations are not even inclusive of what companies pay google, as there are also Pay Per Click (PPC) costs incurred. Average sized companies can actually spend up to a whopping USD9,000- USD10,000 simply on google ads. So why do companies do it? With the right SEO and PPC, companies can see a returns on investments of up to 700%.
To end off, the combination of digital analytics and SEO is definitely a wonder in the marketing universe! There are definitely many businesses that can attest to the effectiveness of paying high prices to focus advertising to the right consumers.
Do share your thoughts about this with me in the comment section below! Ciao~
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