Loto-Quebec Spends Nearly C$2.6 Million on Online Advertising
Like any other business entity, the provincial monopoly is advertised across different internet platforms, including Google and Facebook as, probably, the two biggest ones.
According to data provided by Loto-Quebec, during the last fiscal year, the company invested nearly C$2.6 million in advertisements. Good marketing is crucial for every business, as it helps promote what’s on offer, while at the same time helping establish a recognizable brand.
Advertising Online is a Priority for Loto-Quebec
That’s why it’s important to use promotions and sponsored campaigns. The internet is filled with business opportunities and provides a solid basis for development. Internet, as well as social media, offer the best way to reach as many potential customers as possible. That’s why Loto-Quebec uses this approach regularly.
One of the priorities for Loto-Quebec is promoting its products on Facebook and Google. However, investing substantial sums in foreign companies has long been a hot issue, but it seems it has never stopped the corporation from utilizing such an approach.
The recently revealed information revealed that more than 30% of the monopoly’s online budget was used for advertising on foreign-based internet platforms. Translated into hard currency, that means Loto-Quebec spent C$2.58 billion on advertising its lottery and gaming offers on the Internet.
The largest portion of this sum or C$837,234 was spent on Facebook ads, which make perfect sense as this one of the most popular social networks. At the same time, Loto-Quebec spent C$513,876 on Google ads, increasing the combined share of these platforms to more than half of its annual online advertising budget.
Online has become the more popular way of promoting, with less and less money being spent on printing promotional material. During the most recent fiscal period, printed material accounted for nearly 29% of the overall sum spent on advertising.
Other Crown Corporations Do the Same
Other crown corporations, such as Société des Alcools du Québec and Hydro-Quebec also posted their reports on the money spent on advertising.
Meanwhile, over the same fiscal year, Société des Alcools du Québec invested around C$2.85 in online advertisement, with C$554,342 being spent on Facebook and C$313,117 on Google. Apart from these two platforms, the Crown corporation used funds to advertise on LinkedIn, Pinterest, and Microsoft Online. Hydro-Quebec spent around C$2.7 million in online advertisement.
The biggest concern is the fact this money goes to foreign companies, while at the same time local media are far behind those rates. For Linda Bouchard from Hydro-Quebec, this situation is normal, as online offers the chance to reach more people.
Loto-Quebec was under fire earlier this year for the bonuses given to its top executives. These so-called “golden parachutes” reached $3.5 million in the last couple of years., with bonuses at the end of the fiscal period amounting to nearly C$18 million.