Cost of Traditional vs. Digital Marketing in 2021
Traditional Marketing vs. Digital Marketing in 2021
The difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. While digital marketing uses digital platforms like Search Engine Marketing (Google SEO, SEM), Social Media Advertising (Facebook, YouTube, Instagram), traditional marketing uses the more conventional mediums such as newspapers, TV, and radio advertisements.
While admittedly biased because Absolute Digital is an SEO agency, we think that digital marketing is the most effective platform to promote your brand's message to your intended target audience. However, to remain as objective as possible, we still feel that traditional marketing can still be useful in 2021. Here are 3 reasons why traditional marketing is still useful:
If your target audience spends more time watching the TV than using Facebook (e.g. Elderlies or retirees).
If your target audience does not have access to the internet, smartphones, or laptops.
If your target audience is near your retail space locations, giving out flyers might be more effective
With that being said, digital marketing is still the most effective method to reach out to the masses for most businesses in 2021. So today, we've compiled a list of (estimated) costs for digital marketing vs. traditional marketing.
Disclaimer: Many businesses owners compare the cost of digital marketing to no marketing done and would therefore find it costly. However, it is only fair to compare your Return On Investment (ROI) between spending the advertising dollars on digital or traditional marketing. If you do not have the advertising budget, to begin with, you should not be advertising on either platform.
Here are 10 reasons why you should leverage digital marketing platforms for your business's advertising:
It's Cheaper - The cost per acquisition of new customers is cheaper than traditional advertising.
It's Tracked - You are able to track exactly who you want to show your ads to, and how they react
It's Customizable - Once you know how your ad performs based on the reactions of your target audience, you are able to customize the most effective ad versions to convert them into a customer.
It's Optimized - After running several campaigns, you will have enough data on your target audience to run an optimized campaign thereby increasing your ROI.
It's Scheduled - You are able to quickly change your ad creatives for the promotional or festive periods to stay relevant and competitive with other advertisers.
It's Easily Managed - Compared to a Newspaper or Radio ad, digital marketing ads can be changed with an internet connection and a laptop. Just image printing a $20,000 newspaper ad with a typo on it.
You Decide How Much - Instead of competing on how to outbid other advertisers on the Newspaper ad spot for 11.11, you can now decide what is your comfortable budget to advertise online.
24/7 Advertising - Most people only listen to the radio when they drive, however, if you advertise online, you will get their 24/7/ attention, anytime they pick up their phone and use Facebook or Google (hint: it's a lot)
Remarketing - Traditional marketing does not collect data from who has seen your ads and does not know who is considering your products or services and needs more convincing. However, digital marketing tools allow you to remarket your products or services to those most likely to convert.
It's Easy - with the wide availability of digital marketing guides found online, one can simply learn how to create, optimize, and manage their own digital marketing campaigns without prior education or in-depth knowledge on the subject. However, it takes years of experience and trial and error to run an effective campaign and maximize your ad dollar spent. This is why you should work with a credible SEO Agency like Absolute Digital.
1. Newspaper ads (source) - $32,849 for 1 day on the Straits Times
2. Radio ads (source) - Between $50 to $700 for a brief mention
3. Flyers (source) - $13 for 1,000 flyers, and $1,800/month for someone to give out these flyers
Facebook/Instagram Advertising - No minimum spent, 24/7 advertising with a specific target audience.
Google Ads (SEM) - No minimum spent, 24/7 advertising with specific target keywords.
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