Ask any advertising and marketing expert and they will vouch for digital marketing (marketing through online channels such as email, social media, websites and blogs) as an indispensable tool for revenue generation. Why is it so, and why is digital marketing fast taking over traditional forms of advertising?
The reasons are plenty, but here are four top reasons why traditional marketing is no longer as relevant today as it was a decade ago.
Digital marketing is cheaper
Companies that continue to use traditional marketing to sell their products or services have to allocate massive budgets to advertising campaigns. It is a given that traditional advertising is expensive and taking your product to the customer through TV commercials, radio, print adverts, and hoardings will cost thousands of dollars.
However, digital marketing allows businesses to reach a larger, targeted audience for a fraction of the cost of traditional marketing. It is a boon for small and medium-sized businesses that cannot spare thousands or millions of dollars for traditional forms of advertising.
Digital marketing has been embraced by startups of today for this very reason. It is a great marketing tool that helps new ventures thrive and grow sans the burden of humongous marketing budgets. Lower advertising costs bring greater return on investment for budding businesses and give them a much needed head start.
Digital marketing is more measurable
Because everything you do on a digital marketing campaign can be tracked and measured, it is a more effective form of marketing if you want to know exactly how your campaign is performing and on what metrics it is succeeding or not doing well. Whether it is a blog post, a social media post or a marketing email, you have a wealth of data to tell you how many people saw the content and what action they took afterwards.
Compare this with a TV advert or a hoarding on a busy road. You can only hope and guess that your message reached the intended number of potential customers and that they were influenced enough to explore if not buy your product or service.
Another great advantage of digital advertising is that the results are available within a span of hours or days, compared to TV ads and such were any real impact can be determined only after a few weeks have passed since the ad was first floated.
Digital marketing is more precise and allows targeted marketing
The beauty of a digital ad is that you can tailor it to the last fine detail. What set of audience will receive your email at what time of the day and where they will be taken if they click on the content—all of this and more can be customized according to what you want to achieve with a particular email marketing campaign. This is just an example—the same applies to other digital marketing platforms such as social media, mobile ads, blog posts and so forth.
Imagine the impact a small business, say a local pet shop, can achieve if it adopts and embraces digital marketing to increase footfall during a particular time of the year. Let’s say the flea season is approaching fast in your region. You can advertise your flea control products to your local community way more easily and effectively through Facebook, twitter and email than you can ever hope to do with a banner or flyers or even a radio advert, however well-timed they are!
Digital marketing allows you to reach a wider audience in a simple and cost-effective manner. You can pick and choose the customer profile you want to target and tailor your campaign according to the preferences and tastes of that specific audience. This in turn saves money and time—two of the most valuable resources for any business organization.
The digital marketing agency Bear Fox provides a good explanation of the difference between traditional marketing and digital marketing.
Digital marketing is a great tool for brand positioning
New businesses particularly benefit from a robust digital marketing campaign as it helps them establish strong retention and recall value in the minds of thousands of potential customers. A tastefully designed website, a blog that publishes informative and interesting content, social media handles that offer engaging posts—all of this together builds a positive image of your brand.
The best part—you can tweak your digital ads in tandem with the brand image you want to project. Unlike TV or print ads, adjusting and modifying your digital ads is easy, quick, inexpensive and convenient.