At the turn of the 2010s, the world started witnessing huge changes in marketing tactics. This is because more and more businesses started focussing on digital marketing. They started utilizing social media platforms to create content and promote their products and services. They also capitalized on blog posts, infographics, etc., to share valuable information. Soon, more e-marketing platforms started cropping up.
In this blog, we will discuss why and how such a transition started happening.
Why Are Companies Choosing Digital Over Traditional Marketing?
There are several advantages of digital marketing. And some of the major reasons as to why the transition is taking place, have been discussed below.
Digital marketing is:
- Less Expensive than Traditional Marketing
CPMs (cost per every thousandth ad impression) for digital advertising are generally known to be lower than traditional ones. CPMs for cable TV advertisements can reach $17, while CPMs for national broadcast can reach $32. Then there’s the average CPM for Google display, which was $2.80 in 2018. And that’s just for reaching out to extremely specific audiences.
That isn’t to imply that digital ad channels aren’t costly (the average CPM for Google search advertisements in 2019 was $38.40), but they do provide a diverse set of possibilities. Another advantage of digital advertising is that firms know that when they spend money, they can target and assess outcomes rapidly, and adjust their approach as needed.
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- Most Effective in Reaching the Consumer
More than 80% of customer contacts are handled without the use of human employees, indicating that this is what customers have come to expect. Chatbots on your website, as well as interactive adverts, are becoming increasingly important tools for engaging with customers in real time.
More specifically, 74% of people are inclined to switch brands if they find the shopping procedure excessively cumbersome. So, the idea is simple. Serve digital ads with clear calls-to-action and a button that takes consumers directly to their purchasing option to prevent this danger.
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- More Suitable for Consumers as They Remain Online Most of the Day
This can be especially said after the outbreak of the COVID-19 pandemic. According to statistics from 2020, 1.66 billion people buy online each year, with 78 percent of internet users researching things online before making a purchase. Customers are increasingly using the internet to investigate products and services before making a purchase.
This involves using search engines, online review sites, and comparing shopping sites to locate the company’s website and offers, that best fit their requirements. You’re losing out on potential purchases and visits if your website isn’t search engine optimized and user-friendly. Furthermore, you can convert your possible leads.
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- Perfect for Advanced Targeting
Traditional media has fewer options for targeting unique and particular consumers and demographics than digital marketing. While conventional approaches focus on reaching vast audiences and large numbers of people, digital allows you to target the exact population that is interested in and seeking your product or services.
Brands are now able to target consumers on a variety of levels, and this is possible due to the transition from traditional to digital marketing. They can consider basic indicators (age, location, job and education level) or lifestyle segmentation (hobbies, wants, needs, preferences, likes, and dislikes).
They can also use pixel-based, and list-based tracking technologies to retarget customers who have clicked on prior ads, visited their website, and more.
- Well-known for Greater ROI
Because of lower expenses per lead and higher conversion rates, the return on investment from a good digital strategy can outweigh the return on investment from traditional advertising, greatly. Companies may boost their bottom lines by using strategically built websites, optimization, content production, SEO, and digital campaigns.
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How is the Transition Taking Place? A Focus on Specific Aspect
Businesses are accomplishing this in a variety of ways. However, one of the most significant ways it is being implemented is through a growing emphasis on empowering their customer outreach method.
In fact, today’s continued concentration on marketing has resulted in a greater proclivity for digitalization than ever before. As a result, the focus and marketing pot has positively skyrocketed like never before. With each passing day, businesses continue to invest more and more in digital marketing.
Hopefully, you have an understanding of the whole transition from traditional to digital marketing. The reality is that modern marketing is spreading like never before, forward, and upward. This trend is projected to continue in the following years and beyond. Business marketing is becoming more daring and intelligent due to the Industrial Revolution 4.0. And this is only the beginning.