This year marks a milestone in the world of advertising. For the first time in history, digital ad spending in the U.S. will exceed traditional ad spending by almost 5%. That may sound like a small increase, but strategists predict $129.34 billion dollars to be spent on digital advertisements this year alone meaning that 5% increase equates to billions of dollars.1https://insights.digitalmediasolutions.com/articles/digital-media-surp
asses-traditional-media Traditional print (newspapers and magazines) will drop to an all-time low by nearly 18% in 2019 With these vast fluctuations in the media buying landscape, we are seeing business owners shift their yearly marketing strategies and budgets to achieve the highest return on their investment. Below, you’ll find my answers to a list of common questions I’ve received on this subject over my time working with a variety of different clients. By answering these questions, I hope to educate you on smart buying practices for your brand or business that fits within your marketing budget and allows you to continue to attract new customers.
What is the difference between traditional and digital marketing mediums?
Traditional media includes television, radio and print advertising along with door-to-door sales, cold-calling, billboards, and banner ads like you’ll find in your local newspaper. Digital media mediums include search engine optimization, pay-per-click advertising, content marketing, email marketing, and most prevalent of all, social media. Many companies have used traditional mediums for decades to attract new customers and clientele. However, as the expectations of consumers evolve, marketing strategies must evolve too.This is what has led to the rise of new media and digital marketing methods as well as the decrease in popularity of the traditional methods we all know so well.
Should my business rethink its priorities regarding traditional vs. digital media spending?
p>Just because digital marketing is on the rise, doesn’t mean it’s time to ditch traditional. Many companies have found that 1-2 traditional methods still work very well for them.2https://www.webfx.com/internet-marketing/traditional-media-vs-new-media.html For example, billboard and television ads which come with a higher cost may still help businesses looking to generate greater brand awareness in a local area achieve their marketing goals. There’s no harm in continuing your current marketing methods if they are working for you. Like they say, if it’s not broke, don’t fix it. Who “they” are, I’m not really sure, but “they” definitely say it. Still, it’s entirely feasible to invest in both digital and traditional media to maximize your desired results. Typically speaking, the two pair up nicely together. However, with all of your marketing methods, you should pay attention to their performance and do frequent evaluations to know whether or not you should adjust your budgets or shift platforms. In fact, one of the greatest benefits to digital marketing is that it will provide you with much more in depth analytics with which to measure your campaigns!
Why are digital marketing analytics better than traditional ones?
Have you ever wondered how many people read that print ad you placed in a local magazine or viewed the television commercial you paid a premium for to run in primetime? Better still, have you ever wondered who saw that print ad or viewed that television commercial you paid a premium for? Exactly. Traditional media has no way to track this kind of information.3https://www.hausmanmarketingletter.com/differences-digital-marketing-traditional-media/Contrastly, digital media platforms such as Google Analytics provides businesses with a plethora of information in order to achieve their best ROI. From setting customizable budgets, choosing your audience, listing keywords and tracking conversions, you are able to put your ad directly in the consumer’s hands. Ultimately, your dollar goes farther and you are no longer in the dark wondering how your ad performed and if your marketing budget was well spent.
What Social Media Platforms Should I Advertise On?
With social media being the number one form of digital marketing, I receive a lot of questions from clients about what platform is best to utilize. Your brand identity is unique to you, so your social media platforms should be too. Most businesses believe that you need a page on every platform, but this isn’t necessarily true. Your social media activity should depend on where your target audience is congregating. So, for example, if your target audience is women aged 18-35, you would want to take advantage of the platforms this demographic frequents by creating profiles on Instagram and Pinterest. Now let’s say your targeted audience is mostly young men aged 16-24. You might have better luck reaching this audience on a platform like Snap Ads, for example. No matter how you use social media, or which networks you choose to try, it’s crucial not to forget that your presence online requires attention. You’ll need to assign someone to monitor your pages, measure analytics, maintain a consistent brand voice, create content that stands out in the crowded world of social media and respond to customers in a timely manner.