EMBRACING THE UPLIFT
With more people than ever spending their time on social media platforms, companies are embracing social adverts to get their products in front of potential prospects.
Although it’s great news for advertisers that more people are online, depending on your industry, it could also mean your competition is stiffer. Remember, this is not just competition from your industry but competition across the board.
MORE PEOPLE = MORE COMPETITION
Let’s look at an example situation. Let’s take myself for example, I’m in my mid 30’s (I know I don’t look a day over 18!) I enjoy keeping fit with yoga and body pump. I have a huge interest in paddleboarding, I love interior design and before lockdown, we started looking at moving house. I shop online a fair bit with this increasing recently, from buying gifts from a boutique down the road to buying pants on ASOS, to purchasing workout weights on Amazon!
What am I being targeted with? I am seeing a lot of clothing adverts, I am seeing a lot of workout ads, I am seeing adverts for new home developments, I am seeing homeware adverts, I am seeing software adverts, I am seeing e-learning ads. All these companies are from different industries BUT they are competing against each other for my attention.