Print ads, billboards, and television commercials are all examples of traditional forms of marketing; once an audience is determined, ads are strategically placed in locations where they will be seen, heard, or interacted with. Online advertising channels such as social media and search engines, as well as email campaigns, influencer outreach, and video content all fall under the umbrella of digital marketing.
Traditional marketing has a few drawbacks. Firstly, there is a severe lack of real-time communication between companies and the people they are trying to sell to. There is no way to direct message (DM) a Macy’s advertisement on Twitter and inquire about the availability of grey duvet covers.
Traditional marketing is viewed as unreliable by some marketers as well. Once a printed advertisement has gone to press, it cannot be changed. That radio ad for a sale you recorded can’t be edited if you accidentally entered the wrong percentage off.
Costs associated with traditional advertising methods can also be higher. For instance, the cost of a print ad can range anywhere from $2,000 to $160,000. It’s also hard to tell how many people you’ll actually help with that expenditure. Promotional efforts have failed to increase The New Yorker’s readership.
For some businesses, traditional advertising is still the most effective and practical method of promotion. However, digital marketing’s role as a moneymaker is expanding. Many companies have even reported that social selling accounts for half of their revenue.
Half of all marketers recently polled agreed that digital marketing beats out traditional methods because of the direct lines of communication it establishes with consumers. Companies can direct the pace at which their audiences expand and monitor the success of their campaigns in near-real time. Also, in inbound marketing, customers come to the company rather than the other way around.
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However, digital marketing is not without its drawbacks. Technology is central to digital marketing, but unfortunately, technology can fail. There is nothing a social media marketer can do when social media sites go down and content is scheduled to go live.
Safety concerns are another growing problem for online social communities. Since the Facebook scandal, in which the personal details of 87 million users were exposed, other platforms have implemented stringent measures to protect the privacy of their users’ data. However, businesses should also be cognizant of the law when developing their advertising strategies.
Developers and marketeers must adapt to each new version of a social platform. These kinks necessitate extra time out of your day for study and incorporation into your future plans.