Social media is among the most essential tools affecting business success. However, its instantaneous nature can boost business growth or cause a plummet in a matter of hours.The accessibility and reach potential of social media grows small business like never before. Similar advertisements on traditional versus social media channels can have different results. Here is a breakdown to help guide the options.
Why Use Social Media?
There are easier, more accessible opportunities to reach your customers through social media. Now, customers can review and recommend your business using Yelp, Google or TripAdvisor. Not only can you gain insight on your own business, but so can everyone else. This offers great support for small businesses trying to gain more visibility to a broader audience. Social media platforms also provide an outlet for lead generations with clickfunnels. Sites like Facebook and Twitter make it easy for visitors to quickly submit information to a business such as direct message buttons or popups.
Social platforms can also promote goods or services via sponsored advertisements that are specifically tailored to the unique audience of your choice. Instead of conducting primary or secondary research yourself, Twitter, Facebook and Instagram automatically generate analytics from your profile to help you identify your customers. These tools help businesses engage with customers across multiple channels outside of normal operating hours.
Traditional Media Reach & Results
Traditional Media Channels include television, radio, newspapers and billboards. Purchases today most often occur online. Likely, after seeing a billboard or television ad, a customer is not inclined to make a purchase. Instead, they are more likely to go online and research the product or service. Often times, traditional and social media marketing seem mutually exclusive. But in fact, they can go hand-in-hand to achieve strategic goals.
Traditional media can serve as great product recall and reach a mass audience. It’s harder to measure the results unless there’s an added element such as unique coupon codes to help track the origin of the sale or lead. There is only so much a billboard, radio ad or direct-mail content can do to ensure it is reaching the target customer. There may also be time constraints when it comes to distribution and visibility. Traditional ads expire whereas social media content is permanent and can easily be searched for or shared again.
Traditional marketing is also one-way communication. There isn’t a more convenient path to getting feedback from your customers with flyers, radio endorsements or television commercials.
Choosing Media Channels on a Budget
Because social media marketing has the ability to target individuals who fit a specific segment, it is the best choice for higher ROI. Budgets are spent more efficiently when the results are measurable and that is what separates traditional and digital marketing. There are more outlets to market a brand more effectively than ever before. However, the largest advantage traditional marketing has over social is the cost per thousand impressions. As mentioned, traditional media is a blanket strategy. Information is sent to a broader, less relevant audience; it is cheaper to spend money on 1,000 broad consumers than 1,000 targeted consumers, which requires more tools and surveying methods. Keeping that in mind, it does present itself as a space to gain brand awareness.
Develop a Digital Media Strategy
Every business is unique in size, audience, budget and more. Spend your resources where it matters.Utilizing both traditional and digital media is a great option to garner brand awareness and sales. Reach out to Unstoppable Marketing Solutions to help define your goals and we will develop a customized strategy so your business stays ahead in a dynamic digital world.