What would you prefer the most? a banner ad that costs $2500-$6500 Or a Google ad that costs $500-$800 per 500-1500 potential customer?
A feasible and cost-effective answer to that question would be an “online approach”.
Digital marketing exercises a strategy that utilizes the internet for promotions, advertisements, and targeting audiences.
Traditional marketing resembles any advertisement published outside of the internet. E.g. print, radio, billboards, etc.
Factors like engagement measurement and ROI are easier to track in online marketing as compared to offline.
While tools like Google analytics make gathering data and analyzing effortless, they can be used to see the impact of online marketing on ads, sales, and your product/service visibility.
However, keeping an account of customer engagement in offline marketing becomes a little tedious, while the increase in sales or persuasion through print media and other traditional techniques are difficult to be identified.
On the other hand, online marketing is considered a long-term exposure as SEO is an ongoing process that makes one-time visitors become lifetime customers. Opposite to offline marketing that sustains only till you pay the broadcaster.
Digital marketing is precisely very useful in grabbing the target audience’s attention, whereas, in offline marketing, there is no credibility of reaching the targeted group.
To be more confident of the fact that online marketing is cost-effective when compared to offline let’s look into a few examples:
1) Direct mail Vs. Email
Direct mail strategy can cost up to $800 per 1000 potential customers while an email campaign won’t cost more than $300-350 per 2000 potential customers.
Also, email is much more accessible when it comes to receiving feedback and providing value to the customer experience.
2) TV Vs. YouTube ads
When it comes to promoting, most businesses put their fingers on TV ads. But what needs to be taken into consideration is that reaching the target audience through TV is difficult due to its wide range and the plethora of commercials it broadcasts.
While on YouTube, the reach of your advertisement can be tracked and is overall economically viable. TV ads cost up to $3000 with minimal measurability of customer engagement and ads on YouTube cost up to $1000 with targeted advertisements and demographics as desired.
In conclusion, there is an ocean of difference between online and offline marketing. In a digital world, one needs to shift their bias from offline to online, if they want their business to reach heights and gain visibility.
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