Benefits of digital marketing over traditional marketing
With the changing times, there has been radical changes in the marketing strategies and even marketing platforms. Ads which used to appear on newspapers and big hoardings has gone from traditional marketing to the world of digital marketing on the internet.
Nowadays, internet has the bigger reach than any other modes of publicity and hence a dire need of digital marketing has arrived. But what are the benefits of digital marketing services over traditional marketing? Has the digital advertising changed the trends or even the very principals of brand marketing?? Is internet marketing taking over traditional marketing??? We will ponder upon these questions and conclude with tips and results!
So let’s begin with the advantages digital media marketing has brought in…
Benefits of Digital Marketing:
- Reduced Cost – Newspapers, television ads, prime billboard locations, all have a very steep price. On the other hand, digital marketing is very much affordable and is easily in reach of the start-ups and small entrepreneurs for their effective business advertising & marketing needs.
- Real Time Result – While tv ads and newspapers took time to post/telecast the required content and even more time was taken to make an impact on the target, digital marketing campaigns has lightning fast results. And with quicker results comes quicker response time from the businesses.
- Brand Development – Digital Marketing can promote a greater brand image thanks to unlimited advertising space, private content and significant reach.
- Non-Intrusive – Digital marketing techniques are generally done with consent of the target and is seldom annoying, except for the pop-ups, hence the ones finding a specific product or service are more probable to spend their time and attention on the ad.
- Higher Exposure – Well, internet is for the global village and digital marketing and advertisement gives you most widely used platform in one go!
- Higher Engagement – Digital Marketing allows you to get interactive with the targets and learn more about the requirement and market trends.
- Quicker Publicity – Better reach + faster time = Quick Publicity. Simple math.
- Fair to All – This is rather one important aspect in the marketing field. Traditionally, a big corporation can run out smaller competitors just based on aggressive or prime marketing with help of huge finances and bigger manpower. Whereas, digitally the playing field is level for all irrespective of costs and manpower resources.
- Easy Analytics – There are several online tools available which help you calculate the results of your marketing strategies like inbound traffic, bounce rate, conversion rate, profits and much more. A big edge over the traditional ones.
- Strategy Refinement – Quick results and easy analysis helps you finetune the strategies from good to better & better to best and see what is working for you before letting it out of control.
With rewards like these, the benefits of digital marketing services clearly hold the upper hand over the traditional marketing tactics, but are these strong enough to usher in new trends?? Let’s find out!
The real reason of such boom in the web marketing industry is because the Internet is becoming one of the most used tools. More and more people, particularly the latest generations or millennials are logging into the web to carry out the day to day activities like purchasing, services, entertainment, education and even businesses. It is estimated that over half of the world’s population is on Facebook! To put it into perspective, a general ad on the Facebook might be able to cater around 3 Billion views!! Imagine that!!
Now we have established the scale, lets go into the finances. Facebook for example has the least cost per impression. Even when we calculate the average of costs being charged by online marketing ad services like WordPress, Google or Facebook it comes to a meagre less than Re. 1 per impression. Compare that with any of the magazine like vogue or cosmopolitan it goes up to around Rs. 83 per impression. That is huge. Apart from cost one more benefit is the huge data banks of online Ad Space providers, they are able to provide you more than geographical and demographic areas, they can tell what album a person likes, what is the favourite animal and what problem they faced when they went to the foreign trip last year. This increases the matching level of your target and brings in more and more views.
Although the purists may cry out that ads on Facebook does not bring traffic. Yes, might be true, but for that there is SEO, or Search Engine Optimisation. It is that magic wand which makes your ad fly – higher up the google pages. It is estimated that around 93% of web experiences start with a search and among those, 90% of that from Google. Now just think the traffic you can get when your pages comes on top of Google search.
Another latest trend brought in by Digital marketing is inbounding. That is, you do not have to go out to the customers, rather bring the customers to you. This expands the physical boundaries infinitely while reducing on the costs. The idea is to gain exposure, the more people know about your pages, the more will be interested in your services or products.
Given the advancement in technology there is no denying the fact that benefits of Digital Marketing are taking over the traditional marketing techniques. It can help a small business generate qualified leads without putting a dent in the wallet. Still, lets crunch some numbers to better understand that the era of Digital Marketing is here.
- 60% – No. of business all over the world across various industries who have already shifted towards digital marketing.
- 80% – Shoppers/Consumers who do their research online before buying/investing in a product or service.
- 57% – Penetration of digital marketing in 4.38 Billion internet users in the world.
- 94% – B2B marketers already using LinkedIn and such sites for marketing plan and purposes.
- 70% – of total ad spend has been for mobile users in 2019.
- 90% – B2C businesses reports that social media is the most effective tool for their marketing tactics.
- -12.5% – Total Traditional media Ad bookings in the USA from 2018 to 2023 has decreased from 114.84 billion USD to 100.48 Billion USD.
- +185.77% – Total Digital media Ad Bookings in the USA from 2018 to 2023 has increased from 108.64 billion USD to 201.83 billion USD.
Hence it is clear that with Digital Marketing technology, there is a whole lot of potential to be harnessed and slingshot our businesses to new horizons.