The law of demand and supply is universal. And it plays a key role even in the digital marketing world. The demand and supply of attention and content from the consumers and creators all mix to create an ecosystem that draws ROI in campaigns.
Did You Hear About LinkedIn?
For instance, a big reason why LinkedIn has high organic traffic right now – which is also a reason why it is one of the most important social media platforms to be on at present – is the high demand and low supply for content; there are more people looking for content vs. those supplying the content. (Of course, this is a broad explanation and LinkedIn has its own nuances, which influences its relevance. Please give this post a quick read: Facebookization of LinkedIn: How to Dominate the Hottest Social Platform?)
Understanding Attention: Overpriced, Underpriced
There’s a reason why it’s now more difficult to get your URLs rank higher on SERP. There’s a reason why email open rate and CTR have declined over the years. There’s a reason why Facebook’s organic reach is almost dead. The dynamics of demand for content (aka attention) and the supply of content almost inevitably come into play. And that is a punch line here! Because when the demand for content is high and supply is low, the attention is cheaper in price (example: Instagram Stories ads). Contrarily, when the demand for content is low and supply is high, the attention would be over-priced (example: Google ads).https://youtu.be/GaQxLca6pFI
The Challenges You’ll Still Face
Having a fair understanding of this underpriced and overpriced attention can be a big game-changer for your digital marketing strategy. When you’re trying to maximize your ROI, you should ideally go for the underpriced attention. Admittedly, this doesn’t mean conversion is any easier. It has its challenges and factors to consider. One, where or on what channels can you find underpriced attention? Yes, the demand is high but how can you capture it effectively? How can you avail fast-mover advantage? How can you build your brand reputation? These are a few questions you should ask.
Example of TikTok
Let’s take an example. TikTok remains a hot social media app where you get underpriced attention. When it was operating in India, many creators tapped on that low-priced attention to build huge followership. But when the app eventually shut its operations in the country, how many of those same creators managed to stay relevant? Not many; very, very few. So, while underpriced attention is indeed the Holy Grail for all to build a solid digital presence, one must also know how to tap on that.Recommended Read:
Farewell TikTok: 9 Tips To Blow Up On Instagram (For Indian Influencers, Brands)[Part 1, Part 2, Part 3]
Get the Right Help
Owing to the same challenges, unless you have the extensive experience yourself, it’s recommended to work with experts and take their help. So, if you’re looking to tap on underpriced attention and maximize your ROI, consider hiring a good digital marketing company in UK – or an agency that offers affordable SEO services in Kolkata, if your digital needs are SEO specific. They can help you navigate in the right direction, enabling you with better digital outcomes and greater success for your business.