Today’s modern society has become a digital world. Everything is about going online, touch screens, and instant messaging. For many of us, our phones act as our other half and we are so attached to them that leaving the house without it seems like the end of the world. With this growing need for everything to be fast, online, and easily accessible, advertising has slowly emerged from billboards and television to online social media platforms. So do they work? Are they efficient?
I came across an article (online!) today that featured Will Dean, founder and CEO of a New York-based company that hosts “mud-runs”. Dean started the company with just $10,000 and this year, they are earning $60 million. How does that happen? “People ask how we do our advertising. We rely on word of mouth but first you need to build momentum. We built that through Facebook,” says Dean.
According to Dean, he had used $10,000 to start the company – $2000 to build the website, and the remaining on marketing which was for the most part on Facebook. His company has tried every type of advertising that Facebook has to offer and he has found that people are far more likely to click on an ad if it appears on their wall. As each person ‘Likes’ a post or funny image used for his advertising, it appears on other people’s Newsfeed. As a result, when Dean’s company hosted its first event, they expected 500 participants – nearly 5,000 came.
So does this mean Facebook ads really do work? You’re probably getting ready to set up your company page as we speak. Of course we can’t confidently say that we’re 100% sure that Facebook is right for every company, but it shows how important ‘word of mouth’ is to every successful business. Setting up your company on online social media platforms or even just a simple conversation at a coffee shop are examples of good ways to spread the word about your new business.