Companies know that a properly planned marketing strategy is a key investment for growth – but they also know that traditional marketing is getting more and more expensive. The average business doesn’t have massive budgets to invest in traditional campaigns, after all. Fortunately, digital advertising has arrived and may be a game-changer.
Keep reading for a definition of both types of advertising and which is most cost-effective.
What is digital advertising?
Digital advertising is any strategy that promotes a product online. This commonly happens on social media platforms, search engines, and websites. In short, digital advertising is promoting your product or service to people on the Internet.
What is traditional advertising?
There are several different types of traditional advertising including out-of-home advertising, direct mail, email, radio, and TV advertising, and a range of print methods such as posters. In simple terms, traditional advertising is promoting your product or service to people in ways that don’t include the Internet.
Traditional advertising expenses
It’s true that with the development of digital advertising, it appears that traditional methods have become almost obsolete. In reality, traditional advertising is still valid, even though the future for digital marketing seems a lot brighter. However, traditional advertising still has certain points that can’t compete with the internet.
The main issue with traditional advertising is that the costs of creating a campaign are very high. It’s said that in general, producing a TV commercial costs almost as much as the price of shooting a Hollywood movie. Not only this, but the cost of actually transmitting a TV advert is high, especially in popular seasons where channels increase their prices even more.
The press and newspaper sector is still adapting to digital media. At the minute it’s still normal for newspapers to be produced in physical copies whilst also having a digital version. Maintaining the cost of such complicated structures requires selling advertising spaces at high costs, not to mention the better the reputation of the journalist, the higher the price of advertising.
Terms of radio, it has evolved by broadcasting programs on the internet, resulting in operating costs increasing.
So, traditional advertising does have a wide audience, but it comes at a high cost for companies.
Digital advertising expenses
As you might have guessed, digital advertising has a few advantages over traditional media methods. The main reason is that businesses can get better results with smaller investments and campaigns can be modified quickly and at any time.
Digital marketing is scalable which means it’s ideal for any type of project, no matter which stages it’s in. If you were opening a restaurant, for example, you could open a fan page, post some photographs and set up social media sites to achieve the best results. Expert tips, tricks, trends, and predictions are widely available online, especially on sites like Muse advertising, which can help you to make sure your services reach the right people.
Even with someone else managing your online advertising, it’s still a lot cheaper than traditional advertising. Generally speaking, digital advertising is more economical, profitable, and measurable than its traditional counterpart.
Ultimately, the choice is yours! Make sure you weigh up all the pros and cons of each option, before making the decision that is best for you personally.