The very aim of a marketing agency would be bring your brand closer to as many audience with a lower cost.
In the traditional context, a marketing agency will choose a medium , TV, radio, print, or billboard with lowest cost of acquisition.
For example , your company would have spent a $5000 for an interview slot on a pay TV channel last year and as a result would have gained 10 new customers. The cost of acquisition of $500 per customers. Now, that is $ 500 per customer.
If you were given a task to reduce the cost per acquisition down next year, how would you execute it ?
The best way forward would be to identify a slot with highest viewers of your targeted audience and that means you can choose a different programme at a different time or find another alternative medium to reach your audience. However if the same were to happen in the social media context, you would be left with more alternatives to bring your cost down.
The author has put together 5 different ways to bring your cost of acquisition down with digital media
1) Awareness Campaign
We wish to reiterate, at the beginning of any social media campaign , you would need to invest in paid medium and hence the first content that goes up online should be an awareness content. Indirectly we are saying don't put a hard sell content first and burn your pockets. The awareness campaign will serve as a a war