Social media has become an intrinsic part of everyone’s life today. With the dawn of social media, the traditional media has faced serious opposition and its dominance has been challenged. Although it still champions advertisement, its competitor i.e. social media might soon take the lead. So, for your information, some chief differences between social media and traditional marketing are explored below.
We all have a budget to follow before we embark upon anything. So, for that purpose comparing the cost of each is important. And, the fact of the matter is that traditional media like TV can be highly expensive. A mere 30 sec slot has an average price than starts from over 1000 dollars. This is something small companies and firms may not be able to afford. With such cost of investment traditional media proves to be the more expensive platform for advertisement which only larger companies can afford. While on the other hand, social media platforms like Facebook, Instagram, and Twitter cost nothing to set up an account. The cost of advertisement on Facebook is low and the ROI can be great.
A problem in terms of marketing in traditional media is that it caters to a very broad audience. This can result in ads being irrelevantly served and a lower ROI. On the other hand, social media enables companies and organizations to target their relevant audience, increasing their sales. Also, social networking platforms are highly responsive and active with millions of users. Thus there is a high potential to target specified markets.
Another drawback in opting for traditional marketing is that there are not accurate methods available to evaluate the performance or success of marketing campaigns/efforts. Mere assumptions do not provide accurate insight into whether or not efforts are yielding results whereas it is quite the contrary case with social media marketing. Data driven insights are available to companies who advertise online, giving accurate details on how their efforts are working out. Google itself offers great programs to advertisers that can help them gather and analyse the performance of their online marketing efforts.
Customer and brand engagement
While social media provisions the customers ways to directly communicate with brands, traditional media offers no such thing. Customers can easily and directly interact with the representatives of companies or other brand advocates. This also provisions companies with insight into areas where they can improve.
Nevertheless, traditional media has its own benefits and advantages but the cost that comes with it is not suitable for all kinds of companies. Whereas, the cost effective and efficient medium of social media is such that companies of all sizes should avail benefit from. Which form of marketing you use also depends upon your business goals, which may require you to keep a balance between the two. Social media marketing services are readily available online. So, if you are looking for them just go Google!