Ah, I see what you're saying. Yes, you're exactly right.
Brand advertising has a much higher ROAS when done well. The challenge is doing it well, and knowing if you did. My experience has been that SMEs rarely have the appreciation for art necessary to do branding well, and without strong branding, brand campaigns are a waste of money.
And it's not just a lack money. They'd rather spend the money on ads than on people. In some industries, that's a better strategy, but for most they would benefit greatly from recognizing that all customers, both B2B and B2C, are in fact humans.
Founders have an advantage here, because they can operate on a longer time scale.
(Side note, GM spent $3140000000 on ads in 2018.)
Brand advertising has a much higher ROAS when done well. The challenge is doing it well, and knowing if you did. My experience has been that SMEs rarely have the appreciation for art necessary to do branding well, and without strong branding, brand campaigns are a waste of money.
And it's not just a lack money. They'd rather spend the money on ads than on people. In some industries, that's a better strategy, but for most they would benefit greatly from recognizing that all customers, both B2B and B2C, are in fact humans.
Founders have an advantage here, because they can operate on a longer time scale.
(Side note, GM spent $3140000000 on ads in 2018.)