Post-pandemic Digital Marketing Company resurgence
At a time where drastic changes are happening, some companies refused to take the foot off the paddle.
Here we are in conversation with the Strategy Lead of HypeX Digital Marketing Company in Sri Lanka regarding the experience of HypeX with the pandemic ravaging through the country bringing forth unprecedented economic turmoil.
How much do business owners spend on online advertising?
As many of us started practicing social distancing since 2019, there was an overnight increase in interest in digital marketing despite the prevailing condition at the time.
More and more businesses paid extra attention to promoting their brand online.
Having started HypeX at the time, the very first client came to us with a need to start a Google Ad Campaign.
Campaigns to be effective we need to run them long enough for the algorithm to do its job. So it is not a one-month ad campaign.
Usually, a client in Sri Lanka will invest a minimum of USD 1000 to USD 3000 for an ad campaign.
There is an increased interest from international businesses towards Sri Lanka.
Especially in cryptocurrency and related industries, who are looking at DSP buying to penetrate the local market post-pandemic.
How much has the price of advertising fluctuated increased or decreased?
It comes down to the industry and nature of business. Some businesses are gaining and some might see a steep decline.
As many of us practice social distancing, we’re consuming more entertainment at home.
Advertisers are picking up the increased demand and driving a few extra campaigns but most clients from bars and tourism have reduced or paused advertising to the minimum to cut losses.
How has the dollar depreciation affected firms that want to market/promote themselves on Social Media?
When the western governments called for further scrutiny into data privacy concerns online advertising took a major hit on every platform.
As a result, advertising became harder and more expensive because people now had the option to opt out of tracking.
Agencies had to work around the tracking methods to stay relevant and effective. Coding knowledge became more of a requisite.
The current inflation is not helping the businesses it got worse for Sri Lanka.
Now with the inflation is driven price hikes advertising too is getting expensive for businesses but yet it’s still more cost-effective and measurable than traditional methods.
Have you noticed any alternative methods being used?
Some companies focus on SMS marketing including geofencing.
More and more clients are investing in influencer marketing in Sri Lanka. Even at a time the world is driving away from it. Especially TikTok is gaining ground.
What are the key differences between advertising on Instagram and Facebook?
The primary difference is the type of offering between the 2 platforms. Then the target audience a brand must reach and the type of industry a client is in.
Facebook is great for any business with many features but Instagram is ideal for experience-driven businesses since it offers videos and pictures only.
A strategy that accommodates both platforms in synergy can eventually reach their goals at a record time.
No matter the platform if the content that’s created is not worth sharing and informative neither platform will work. Quality content is key to digital marketing success.