CPX Interactive Owner Mike Seiman Talks About Web Advertising for SMBs
(Long Island, N.Y.) Are you thinking about Web advertising but not sure where to invest your dollars? The Web is such a widespread medium, how can you think globally while attracting local customers?
Mike Seiman, CEO and founder of Westbury-based CPX Interactive, launched the earliest incarnation of his full-service Internet advertising network while he was still a freshman at Hofstra University. By 2001, with a B.S. in Computer Science, he created BUDS Inc., the parent company of CPX.
Today, CPX provides Internet advertising services to Fortune 500 companies in the tri-state area and across the world. The company placed #71 on Inc. Magazine’s list of the 5,000 fastest growing private companies in America. Seiman recently shared some tips for Long Island SMBs (small and medium-size businesses) looking to advertise online.
Tell us about CPX Interactive. Why do business owners come to CPX?
Mike Seiman: We’re an intermediary between advertisers and Internet publishers. We provide the technology and the service between both sides. We close the deal and have the technology to optimize and run the advertising campaign across the networks we work with.
How has the industry changed since you started the company?
Mike Seiman: It’s expanded a lot. There’s a lot more diversification. You have hundreds of thousands of websites, you have a lot more targeting capabilities, and people are interested in data and measuring the types of users. It’s gotten more intricate, more ROI-focused, and a lot more targeted. In the beginning, it was just: “Okay, let’s place an ad and see what happens.”
What is a company’s best means for tracking results today?
Mike Seiman: If you’re talking about a small-to-medium size local business, from a pizza place to a family shop in a local area, it’s really about utilizing local advertising and targeting down to your closest radial area. If you’re a Fortune 500 company or a large organization, it’s about thinking about your product line and the customers it appeals to, and the best ways to hit that consumer, using demographic data.
What tips do you have for Long Island SMBs looking at placing Internet advertising?
Mike Seiman: If you’re a small business, don’t over-think it. Don’t think about your demographic, your target audience. When you’re looking at local advertising, you need to keep your population as broad as possible. There are only a given number of Internet users online at any given time within a certain zip code or mile radius. To break it down into smaller demographics, you’re pushing your audience down to maybe 1,000 Internet users a day, which isn’t effective. Don’t over-think it, just hit as many people in your local radius as possible.
Anything else?
Mike Seiman: Keep the message simple. Simple advertising is most effective on the Internet right now. If you’re reaching someone in your local area, say something like, “Shoe sale in Westbury, Shop now!” Something simple, easy to read, and to the point to invite people to come to your store.
Also, make sure you’re working with a company that’s capable of providing the service levels you want, or at least that you know you’re getting what you’re paying for–you’re hitting the local area you need to and you’re paying the rates that are competitive.
Does Internet advertising make sense for local (brick-and-mortar only) companies?
Mike Seiman: I think we’re starting to move into that area as an industry. I think you’re going to see a major shift over the next few years. People are going to see advertising dollars moving from their Pennysaver and their local newspaper and going online. Businesses are finding efficient ways to buy Internet advertising cheaply. You can spend $50 – $100 a month to see if it works.
That’s not expensive at all…
Mike Seiman: It’s relatively inexpensive. Don’t get fooled into thinking you have to spend a lot of money. Don’t think you have to have an amazing website or $10,000 creative–you don’t. You can see how it works, and worst case scenario, you’ll get some more people in your local area to know about your business. Keep it small, keep it simple, and make sure you’re working with a company that can provide you with the level of targeting and the reach that you need.