Traditional marketing channels are starting to plummet in terms of marketing investment. A market trends survey by Selligent and Strongview reported that print ads will witness only 13.5% of increase in investment while investment in radio & television will only increase by 9.1%. Compare these figures to online advertisement whose investment will increase by 55.9% and social media marketing by 56.27%.
These figures only show that online and social media marketing are now gaining more popularity among businesses. And there must be a reason why.
Online marketing delivers better benefits than traditional platforms.
One key advantage of online marketing is that you can target the right people with the right products or services at the right time. The downside of print, radio and television advertisements is that there is no possible way of targeting exactly and only potential customers. This point leads to another drawback of traditional advertising: it is way more costly than online marketing.
See this infographic for example, the traditional platform can cost you $900 (725 GBP) to reach 2,000 people, while online advertising costs only $75 to reach the same volume of people.
Another thing that is hard to miss is the “viral” nature of the internet. A content can potentially reach millions of people to the benefit of your brand awareness. This great advantage of online marketing is actually what attracts SMBs the most. “Increased exposure” is the top benefit of online marketing, according to a survey by The Social Media Examiner. With less cost, SMBs can reach wider audience and even get global.
Moreover, the digital nature of online marketing enables businesses to gather real-time data. With advanced analytics, you can glean valuable information to boost marketing campaign and as a result, increase ROI.
Want to learn more how online marketing can help your business, talk to us.