Over the years, the continuous and almost constant march of social media marketing has been plain for all to see. It’s made significant changes in the way that we consume media and to who we are willing to trust on the web – it’s also changed how we view standard, more traditional forms of media in general.
Many people are still willing to invest their all in old-school advertising forms as “they work” and “aren’t a fad” – but is that just what social media is? Let’s look at the comparison between new and old media.
The financial difference is quite staggering, frankly. Try and get yourself a 30-second ad slot on a TV and you could be talking your entire advertising budget for the year, depending on where you wish to broadcast. Social media, though, is free – even if you do want to promote it, you are talking a fraction of the cost of traditional advertising.
Old-school advertising is either hyperlocal with no chance of ever seeing you break out of that small caption area, or it’s simply too expensive for anything but the most well-off companies to invest in.
This is a massively important difference to take note of. The return on investment for social media can be more impactful for one major reason – the catchment opportunity.
When you boost a TV ad, you can't guarantee that a minimum number of people who see the ad even care, never mind take in what you are telling them. Online, though? The majority of the time someone has to practically search you out to find out what you offer. This means that the people who find you on social media tend to be interested in the first place.
Social media is, then, the best marketing opportunity out there when broken down by cost and client availability. You get to save a lot of money on wasted advertising volume, but you also get to give a much clearer message to those who care for what you have to say.
Outside of things like billboard advertising and magazine ads, social media is the most powerful form of marketing around! The best part of using social media though is the ability to accurately analyse performance. Performance metrics are unreliable from a normal TV advert, as it can be nearly impossible to quantify how much of your business is benefitting from it. You either notice a rise, nothing, or a drop – you can never guarantee that the TV advert is the reason why performance has boosted.
Social media, though, comes with built-in analytics on all major platforms. Every tweet, shared link, Instagram post, Pinterest pin and anything else you can think of can be measured, managed and viewed for success. You can see what is working and what is a failing.
This helps to break many of the typical problems that people can have when it comes to the safe and sound management of your marketing budget. As you can see, there is no reason whatsoever to avoid social media as a viable marketing tool any longer. The stigma is gone – only the benefits remain.
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