The change of course towards digital advertising has advanced during the coronavirus quarantine as companies are looking for less pricey alternatives to traditional methods of marketing.
But still what is the main difference between digital and traditional marketing and which one you should opt for? Nowadays from selecting the fitting marketing type can save your business. So how does it work?
What is digital marketing?
In the simplest terms, digital marketing is making use of various digital channels such as social media and websites as its tools for effective marketing communication. If you are utilizing social media you will be clued up in the adverts that appear in your stream. That is digital marketing.
What is traditional marketing?
On the other hand, traditional marketing revolves around traditional channels, like printed media and billboards. Remember Don Draper in Mad Men thinking of TV commercial ideas and copy for the Coca-Cola brand. Before the development of the Internet in the ’90s, traditional marketing was mainly the only kind of marketing.
Digital marketing against traditional marketing: how are they different?
The key difference between traditional and digital marketing is the way through which the target audience sees a marketing message. As traditional marketing utilizes traditional media like newspapers and magazines, digital marketing utilizes such digital media as websites and social media.
For sure, traditional marketing does not mean it is outdated. Traditional marketing is still of importance in people’s lives with the constantly developing need to forget the multi-present digital world.
The immersive experience of a strong TV commercial and the tangible nature of a copy in the Rolling Stone magazine are as relevant today as it was even 20 years ago mainly because of the long-term effect on our memory. Reflexively we always attach yourself emotionally to a certain brand.
Respectively, digital marketing is just as crucial as the traditional one. There are cases when it is even more important than traditional marketing. Mainly because digital marketing can reach you from any device.
If you search on Google some holidays ides for your next vacation, the chances are quite high that you will see some sponsored ad on this topic.
Utilizing the Internet for some hours every day is a common part of many people’s regular life. Digital marketing just makes use of these statistics and implements them in their communication through different digital channels.
- Find the best option for your business
By all means, both kinds of marketing have their advantages and disadvantages, however, the main point is to understand your certain marketing needs, take into consideration your budget, and know your target audience.
Channels of traditional marketing are often welcomed by the generations of Gen X and Baby Boomers. These are the generations who prefer televisions and newspapers over other devices. At the same time, digital marketing can be a comfortable variant for may generations, not only Gen X and millennials. Some grandparents spend many hours on Facebook, shopping online, or watching videos on YouTube.
What is happening these days?
Nowadays, experts see that digital advertising on such platforms like Google and Facebook is aimed to excel ad spending on traditional marketing by the end of the year. According to the media buying agency, GroupM that owned by WPP, not taking into consideration online ads that were sold by old media outlets like broadcasters or news publishers, digital marketing is foresighted to amount to half the $530 billion world advertising industry in 2020.
Respectively, spending on traditional marketing such as television, newspaper, and outdoor advertising will go down by about 20% in 2020, while digital marketing is climbing to an all-time high. This happens thanks to big enhancement in online purchases and overall presence during the lockdown. Even though, such a trend suddenly began to rise at the beginning of the 2000s with the quick development of the Internet. Ever since the web has changed the ad market at a constantly enhancing scale and pace. However, exactly economic shock from coronavirus pandemic has become a breaking point for such a shift.
A key group that pushing this alteration is small businesses. With the beginning of the quarantine, companies have been searching for methods that may lessen their advertising costs and are more related to purchases that promoting their brands. Digital advertising is a big industry, and it has offered new opportunities for SMEs during this period, permitting them to sell more directly and get customer data in a period of altering buyer behavior.
With the altering consumer needs and the growing cost of advertising expenses, digital marketing strategy and measurement are becoming an integral part of any business.
The situation in the United States
In 2020, according to foresight from eMarketer, the budgets spent on digital advertising in the U.S. will be much bigger than traditional ads for the first time in history. This will become a crucial inversion of how advertisers collect their resources, and the rise of interest in digital media while platforms are aiming at consumers’ attention.
By the end of this year, eMarketer forecasts that companies will spend at least $130 billion on digital advertising, while they will spend only $110 billion on traditional advertising. According to other researches, such a tendency for digital ads will become only more evident with year. For instance, by 2023, digital advertising will take about two-thirds of whole advertising spending.