It is a known fact that in order for a marketing strategy to succeed; they have to be in a position where the audience is located. Since the upsurge of digitalization of information and business, most people rely on online activities.
Businesses have already adapted this inevitable change as digital ad spending in the United States is expected to exceed the traditional way. And in 2023, according to the latest eMarketer’s latest forecast, digital ad spending will be 2/3s superior to total media spending.
The continuous shift from print and TV to social media and online ads is not expected to decline in the next decade. It is because of the two giants; Google and Facebook, that it seems most people can’t live without. True enough, we almost get all the information from searching on Google and, Facebook, who doesn’t have a Facebook account? From the same forecast, US advertisers are said to spend $129 billion on digital advertising, $10 billion more than traditional advertising of $109 billion.
Still, many would wonder why?
1. It is cheaper.
While traditional marketing will make you spend up to a hundred thousand bucks for a decent design on print or a 15-second TV commercial, digital is way cheaper. You can get away with it with just a few coins since the audience is already there and dissemination is just one share away.
Zenith reported that TV ad spending is losing its momentum and that it is expecting a $2 billion decrease in its total global ad spending.
2. It is more targeted.
When a print ad, let’s say, an ad in a newspaper, anybody can read it. Some may argue that it is still targeted since the age group of those who often read newspapers belong to a specific demographic. When it comes to digital, there are also tailored ads targeting a specific demographic, and it is effective since it uses an algorithm that goes beyond search histories and buying behavior, what are the triggers and such. Personalization is the key, and that is why it is more successful.
Ever had the experience that after browsing a product, let’s say smartphones, there will be sponsored ads on your social media account of the newest smartphones in the market?
3. You can track it.
By using tools like Google Analytics you can track the reception and effectivity of an ad. It will show you the exact figures regarding the performance of specific marketing material. Unlike TV ads, for instance, all you have are ratings from Nielsen, which will only provide estimation and as a marketer you need results and how it is received by the target audience.
Using these gathered data, you can make future adjustments on its placement for better results.
In TV, you can only show limited content the same as print because it is more vulnerable to be seen by the audience not meant to see it. In digital, though seems like an ocean of information, you can make adjustments. And what you can do in print and TV, you can also do that online. From commercials, promotional blogs, reviews, infographics and more. It is almost limitless compared to the traditional ways that are restricted to the length of a video or space of a lay-outed content.
Also, there is no room for mistakes in the traditional, or else everything will end up in an erratum statement. The flexibility of digital ways makes you do adjustments or improvements even at the last minute.
The fact the most consumers approve ads especially if it’s personalized is one of the many proofs of the rise of digital marketing. To be fair, it is not bad as the audience, platforms and ways are just evolving and adapting to societal changes.