Digital marketing provides a unique and valuable opportunity for businesses to maximize their advertising spend. eMarketer predicted that global ad spend in 2017 would reach $229 billion. Wondering what the appeal is? It all comes down to the numbers.
Traditional versus Digital Marketing
It’s important to understand the shift in marketing strategy that has occurred between traditional and digital. While there will always be a time and place for traditional marketing materials (for instance, sharing a business card at a networking event), digital marketing has data to back its reputation up.
Traditional marketing includes methods and materials most of us are familiar with already. This could include business cards, print ads in newspapers or magazines. It might also include television commercials and radio ads, and billboards. Word-of-mouth referrals would also fall under the category of traditional marketing. And we all know that a good, honest review should never be taken for granted.
Digital marketing encompasses everything that deals with, you guessed it, digital. And as the technology advances, digital marketing will continue its effectiveness. Websites, social media, YouTube videos, and banner ads all fall into this category. The more internet users see your content, the more familiar they will become with your brand and they will eventually develop a trust and a rapport with you through this online presence.
Where does the data come from?
At this point, maybe you’re wondering what the difference is? Can’t both of these marketing strategies work together to increase my brand’s influence? The answer is yes. Many companies use a mix of traditional and digital marketing to achieve this. The reason we have seen so many shift their marketing budgets to a mostly digital approach is its measurable return. Television commercials and radio ads broadcasted at prime time can certainly have an effect but at a large cost and can you really guarantee who will actually be sitting in front of their TV?
Digital marketing presents your ads to a targeted audience, one that your company will specify. You can select your demographic and then your ads will only show up in front of those people. All the while, Google Analytics is tracking who sees your ad, if they click on it, did they visit your website? Purchase something? This information is delivered right back to you as the business owner providing valuable insights about their web presence. If you are wondering how data can improve your marketing strategy, read this.