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Most people are interested in advertising on Facebook or Google because they have a wide range and a big audience and there are a lot of things that you could do on these platforms.
As far as targeting goes and as far as the audience size goes there’s just so many things that you can do but the big take and the big issue is that there’s more and more advertisers that focus on these platforms and when more people want something it just drives prices higher.
It’s not to say that you shouldn’t stop using them fully but what I’d like for you to do is to go and try smaller platforms and see if your audience is there.
A lot of times a lot of these smaller platforms like Pinterest or it could even be things back in the day like a direct person that you connect with will able to get you better deals and better rates.
It is like buying a house, imagine there is a swarm of people interested in buying a single house all of a sudden the price of that house just continues to rise and accelerate and it makes it more expensive.
And just like with advertising, you’ve got an ad space and now there’s more advertisers and are willing to pay more money and in order for you to compete you have to pay more; whereas before you might be paying 30 cents a click depending on your niche and industry and so on now you might be paying 47 cents a click then you go into 96 cents a click so with time it just drives the price higher and higher.
As more advertisers get in there, the advertising rates will continue to go up.
Now I’m not saying don’t use Facebook and Google completely; if it makes sense for you, if you know it’s worth it for your business and you’re actually coming out ahead let’s say you’re spending an Ad of 50 to acquire one customer but you’re making back ninety dollars well it’s still could be cost effective for you and worthwhile to do it.
But in some other platforms it might only cost you thirty dollars to acquire a customer or sixteen dollars to acquire a customer or maybe even 42 dollars even if it’s just a little bit cheaper it’s still better than 50.
The important thing that I’m sharing with you is to test these things out and as you test different platforms out you’ll find that some of them are a bit cheaper simply because they don’t have the volume and if they don’t have the volume they’re willing to be lower on advertising rates because you’re not competing with anybody else or a lot fewer people out there.
