Business Mastery

Digital marketing: Is it worth the investment?

Digital marketing: Is it worth the investment?

Are you social? We examine how the digital age has levelled the marketing playing field for conveyancing firms.

Digital marketing has become more than a trendy catchphrase – it’s now an essential tool for any business seeking to establish a reputation and attract clients. We speak with Khiem Lam of Melbourne’s Provey Conveyancing about his experiments with AdWords and Facebook advertising to boost the firm's marketing efforts.

 

Why advertise online?

 

People are increasingly reading the news, searching for homes to buy and sell, and interacting with their friends online. There were approximately 13.3 million internet subscribers in Australia by June 2016, which represents around 86 per cent of all households.

 

It's increasingly important that businesses have a presence in the digital space – whether that's through a website, an email newsletter or social media posts.

 

“People nowadays like to do their own research,” Lam says. “They google, read reviews and obtain quotes online. Even if you’re referred to them by family or friends, people may still want to check your website. Therefore, it’s important to have an online presence for any brand that you manage.

 

“The internet is a dormant selling tool, working for you around the clock. To not have any online strategy could be a lost opportunity.”

 

The size of that opportunity has been quantified through 2016 research by Deloitte Access Economics, which shows that small businesses that have reached 'advanced' levels of digital engagement are 1.5 times more likely to be growing their revenue than those with 'basic' internet use. 

 

Lam also sees a digital strategy as a way to compete with larger companies, who generally have considerable marketing budgets reinforcing their brands through billboards, TV, radio and online campaigns.

 

“With digital, you can do that marketing activity relatively inexpensively through Facebook, Instagram, AdWords or Twitter,” he says. “The market’s shifting, and it’s an opportunity for smaller companies to quickly create a brand for themselves.”

 

Is one channel better than others?

 

Provey’s online strategy makes use of several channels, all linking back to the company website. By aligning their AdWords and Facebook campaigns, for example, Provey can ensure they will be prominently featured in search when people start looking online for conveyancing.

 

“Our online strategies work together, as opposed to focusing on just one approach,” Lam says. “When you have overlap, people are more likely to see you as a legitimate company. It brings credibility and creates trust, which in turn generates leads and revenue.”

 

Here’s what Lam has to say about the main elements in Provey’s campaign:

 

Website: “We’ve built a welcoming website that loads quickly and invites people to engage. They can quickly obtain quotes, find information, calculate stamp duty, and even talk to our staff on Chat."


Content: “It takes work to get the content right and make it engaging, especially since conveyancing is rather a dry topic! We found we needed to create articles that not only answer client queries, but also add value for people looking to transact later down the track.”


Facebook: “Facebook advertising can be targeted and measured, and is relatively inexpensive. Conversions are difficult to quantify, but we get a lot of click-throughs from our ads and posts, which means people are becoming aware of our brand.”


Google AdWords: “AdWords is more competitive than it was five years ago and clicks cost more, so it’s important to maximise the value of each click by matching user intent.”

 

Is digital advertising worth the investment?

 

Lam says that given the relatively low cost, it’s better to have a digital presence than not have one.

 

“The return is not easily measurable, because people might visit our website then not engage us until a year later, but it’s an important strategy to have that presence.

 

“If you compare the cost of online campaigns such as Facebook and AdWords to what larger companies spend on traditional advertising, the impact is tangible. The audience we’re reaching is similar in size, but can be targeted so it’s actually more effective. I’ve abandoned print advertising altogether – it’s too expensive and not easily measured.”

 

When it comes to promoting your business, the digital age has levelled the playing field. With strategic planning and experienced technical consultants, it’s possible to achieve a strong online presence with a relatively small budget.

 

Provey Conveyancing

11/459 Collins Street

Melbourne Vic 3000

Phone 03 8609 1200

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