Advertising started as a print, television, and radio industry. Then, the internet entered our world. While it may have taken longer for digital advertising to catch on, it is here now and stronger than ever. When the advantages of digital advertising are laid out, it is easy to see how it is oftentimes a more cost-effective marketing solution. These are some of the many advantages that digital advertising offers over traditional media outlets:
Targeted Advertising vs. Not-So-Targeted Advertising
Traditional avenues of advertising broadcast ads to a general market with only the most basic targeting tools. For example, beauty products might be advertising across a range of media including women’s magazines and lifestyle TV channels, as well as major mainstream publications and mass media portals. With digital advertising, however, marketers gain the ability to target a highly specific audience based on the kind of content they view.
Marketers have always been looking for ways to measure the impact of their advertising strategies. Beyond looking at your sales trends marketers have no way to determine the effectiveness of traditional advertising strategies. However, digital advertising strategies have a host of tools that allow advertisers to track conversions that include the largest orders and the smallest purchases. Now advertisers can even determine the concentration of conversions, impressions and the total ROI gained within any given area and demographics. Additionally, unlike traditional advertising, the online variant facilitates constant testing and tweaking of ads and helps take optimization even further.
The Price Point
How much does a print ad cost anyway? Well, depending on the size of the ad, the quality of the publication and readership levels, it can cost anything from a few hundred dollars to upwards of a hundred thousand dollars. And when it comes to a TV ad, entry-level costs escalate dramatically at the very least. But digital advertising, marketers only pay for every time someone clicks on your ads, instead of targeting a huge general populace at a fixed price. By micro-managing each ad, a marketer can create an internet campaign generates a much higher level of profit (relative to cost) than by taking a traditional approach. More importantly, the low cost of online advertising makes for highly sustainable campaigns and fewer wasted resources.
Digital advertising may seem more simple and not as good as traditional media due to the number of tools available for creation and cost of implementation. But, digital advertising offers so much more for reaching the intended customers and getting the most out of a campaign. Advertisers are now able to view exactly how many clicks a piece of creative is receiving, how their visitors got to their ad, and even where they go after it.
In the coming years, digital advertising is only going to grow and innovate. It is and will continue to be the most popular form of advertising. One day, we may live in a world where there is no longer traditional media. Advertising could be placed 100% programmatically or through social channels to TVs, websites, and other platforms everywhere. Will you be ready?