Online marketing offers businesses the precision and flexibility to target a specific audience, which no traditional marketing media does. For example businesses seeking online advertising can employ a digital marketing agency to setup campaigns that target audiences based on user interests, demographics, and geographical location. This strategy effectively filters out everyone who is not interested or looking for your product or service, therefore your advertising budget will be focused on targeting potential customers producing a higher conversion rate. Traditional advertising such as TV ads can be extremely expensive and do not enjoy the same targeting precision and return on investment that online marketing does.
Measuring Ad Campaign Performance
Tracking the performance and return on investment of your marketing campaigns and making adjustments accordingly is key to success. Google Analytics is the most used platform to track website data activities and can provide you with detailed insightful performance reports. On the other hand TV ads performance and return on investment can be extremely hard to measure.
The Advantage of Traditional Marketing vs Online Marketing
The only advantage traditional TV advertising has over online marketing is that it is able to quickly reach a large audience. This advantage is starting to fade away since there are now more internet users in North America than TV viewers. Google search and display network now receive billions of impressions per day worldwide. In addition a YouTube masthead ad running the full width of the YouTube homepage can instantly reach a very large audience.
With the social media growth explosion and the complete dominance for information-seeking through search engines, we foresee that online advertising will continue to grow and evolve, while traditional media will remain stagnant and less effective. As so businesses that do not take advantage of online advertising will have a hard time succeeding, especially if their competitors are taking full advantage of building a strong presence online, through professional SEO services, pay-per-click advertising, social media networking, and all other various types of online marketing.