Since most people don’t love to buy cars in the middle of winter, Tesla is offering a $1000 incentive to do so.
This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal.
The best marketing channel is where people spend the least amount of time.
Just look at how much time people spend on each channel per day.
Emails – 2 hours and 52 minutes (Statista)
Streaming – 2 hours and 37 minutes (Statista & Nielson)
Social media – 2 hours and 27 minutes (Data Reportal)
Search engines – 15.4 minutes a day (Statista)
You would think that where the attention is, that is where the most ROI is.
Well with email, people spend almost 3 hours a day, mainly communicating with others.
With streaming, people may see ads, but most of us are using streaming to watch TV shows and movies.
With social media, people are spending more than 2.5 hours a day consuming content. They're just scrolling on the social sites…
On the flip side, people spend the least amount of time on search engines.
Although it is only 15.4 minutes a day on average, the number of searches is large.
A whopping 8.5 billion searches take place on Google each day.
Now the main reason people don’t spend much time on search engines is because people are clicking over to your website.
Just think about that… the goal of a search engine isn’t to keep you on their platform (although for some queries it may be), the goal is to help you find resources.
It’s like a portal.
That’s why search converts so well from a marketing perspective.
People type something in like “credit cards” and you are presented with a list of websites that offer “credit cards”. It’s that simple.
Definitely not sexy, but it makes a lot of money for search engines and businesses.
To give you an idea Google generated 224.47 billion dollars in ad revenue in 2022 while Meta generated 113 billion during the same period.
That’s the power of search.