Promotion has never been cheaper – 20 years ago when ID-Marketing began, industrial PR consisted of submitting stories to just a few – maybe 30 – printed publications and publication of larger pieces was very dependant on limited space and the goodwill of each editor (also on the advertising budget of the client). Now there are even more printed journals than there were, as well as more websites covering industrial product news. At a conservative estimate this offers at least 3 times the editorial possibilities that existed 20 years ago – and the costs – in real terms are probably half or even a third of what they were.
There is also a well defined array of carefully targeted newsletters and many, many directory sites that serve our industry far better than their predecessors ever did. In addition there is a welter of online and linked printed/online advertising possibilities at much lower cost than ever available 20 years ago.
So – what holds so many companies back from promotion and associated growth? Certainly many are wary of cost – but that is not only lower than ever before – but also more manageable – easier to do in bite sized pieces and more measurable.
It seems likely to be the same factor that limits so much – a trust and confidence issue. Fortunately promotion – like so many things – is much more transparent these days. For a start the internet and associated technology has given us the ability to start with a small budget and build to suit company need – the added transparency also means that it is easier to find professionals you can trust – simply put, if you can’t understand what they are saying then look elsewhere – after all you wouldn’t make any other investment without understanding it would you?