3 REASONS TO EMBRACE ONLINE MARKETING
Everyone is switching on to the potential of online marketing, from the baker to the banker, but only a few are affording it the same trust or even remotely investing the same advertising budget as they are into traditional marketing.
Traditional advertisers are hesitant to make the switch. To quell these doubts, here are 3 reasons to back online marketing all the way.
RETURN ON INVESTMENT – TRADITIONAL VS. ONLINE MARKETING
More money is invested in traditional marketing channels, like TV, than any channels in the online space. Yet businesses expect to reap the same returns from online marketing.
In order to accurately judge the advantages of online marketing versus traditional, the same amount needs to be invested into both.
The measurable Reach-to-Rand will outperform traditional advertising every time. Show your online marketing efforts the same budget and you’ll be surprised how far your brand will reach.
ENGAGEMENT VS. REACH
In marketing, there are 3 vital metrics:
- Reach: how many people see your content.
- Impressions: how many times your content is seen.
- Consumption: engagement with content – likes, shares, retweets etc.
In traditional marketing, reach is the measure of success whereas online marketing prioritises engagement. Of the two, engagement is far more valuable.
As a marketer, you don’t just want people to see your content, you want them to react. But traditional marketing offers no way of measuring engagement.
For example, say your chosen marketing tool is a flyer. You can count the number of people who take the flyer, but not how many read it or pass it on to their friends. You can measure the reach, but not the most important metric – engagement.
However, with online marketing, you can measure the number of consumptions as well as how they engaged with your content – likes, shares and comments. This is a far more valuable measure of success as it gives marketers the ability to quantify the impact and value of content.
THE AGILITY OF ONLINE MARKETING
Online marketing allows marketers to track campaigns in real-time.
This provides them with the flexibility to tailor campaigns while they are live; the ability to amplify what resonates with an audience and remove what does not. Imagine not having to stare at a billboard with a typo.
If there is so much to be gained from online marketing, why are so many businesses still choosing the traditional route?
How can you make a choice if there is only one option available, even if the cost driven by a monopoly becomes exorbitant? Simply put, familiarity and lack of options are the main reasons businesses look past the remarkable unknowns of traditional marketing, specifically the inability to measure the engagement of its audience.
In order to fully embrace online marketing and all its benefits, it must enjoy the same trust that has been afforded to traditional marketing.
To enjoy the measurability, agility and tangible returns on investment, we must put away our fear and embrace this innovative addition that is shaking up the advertising landscape.