Traditional marketing is not as effective in the modern era of 2020, digital marketing is the way to go these days. Everybody is on Facebook; we can reach a whole lot of more people on Facebook than we could ever reach using the traditional ways of marketing such as billboards. The best part about digital marketing is that we can reach people globally and that too with a very low investment. Digital marketing consists of two modules, media planning, and buying:
Media planning is when you select where you have to advertise the ads basically. It consists of researching and planning as to how the ads would be carried out given what the budget of the brand is. The internal and external market research would be carried out in this module. The main objectives would be aligned with the campaigns that would be set. Along with that, the market as a whole will be assessed along with the competition and detailed targeting, as in the audience that would see the advertisements and what their behaviors and interests would be.
After this, the media will be selected, as in social media, mobile, or Search engine optimization, which of these would be better for marketing for the specific brand. Budgeting also comes under the media planning as the analysts would put into consideration as to what budget would be carried out and how the smallest investment would end up giving the most return on investment.
This is the secondary process that is carried out after the media planning is done and the agency is negotiating on buying the ad space where they want to launch the ad on those media channels. They are the ones that see the plan in the process. The media buying is handled by the buyer, he is a person that has to make sure that he maintains proper relationships with the vendors so that they can be contacted in need of inventory and so they have a backup. With the media planning done right, the media buyer has to buy safe ad space to make sure that the ad is placed in a safe space and that the right audience is shown the advertisements.
Why digital marketing?
With the help of digital marketing, you can get a better conversion rate, this means that you can get a better return on investment compared to the traditional ways of marketing such as billboards. In the traditional way, you had to invest a lot before you got any results, however, with digital marketing, the investment is quite low and the reach is huge.
Social media is very common these days and engaging customers there is an easy task, one can easily create brand awareness and reach with the help of social media. And then with random giveaways and stuff, these customers can also be retained with the business.
The most significant advantage of digital marketing is the fact that it provides you with the results that are trackable and that you can measure. With the google ads and Facebook ads, you can see which areas are responding to your advertisements, if the customers are reacting to the full-length videos on the page or photos that direct them to your website. With the idea of targeting customers, the companies can do that by greeting their customers on their website with offers that will make them stay and become their loyal customers. So, it is safe to say that in this time of 2020, digital marketing is booming and social media is the key to success.