As the modern world moves further towards online forms of media consumption, many opportunities open. For consumers, everything soon becomes a simple click away, knowledge, entertainment, the works. For industries on the other hand, reaching a massive consumer market could not be easier.
While browsing through the various blogs written by some of my COMM 101 peers, I’ve come across a particular article highlighting the benefits of this modern medium. Madeleine Pringle discusses the NFL and their changes in advertising means, moving towards 6 second commercials to bring back consumers to traditional means of entertainment consumption, as in modern times, many move towards the conveniences of online media consumption which happens to be quicker, and suited towards present day entertainment needs.
In Madeleine’s blog post, there is an emphasis put towards many advertisers finding their way to online platforms, and traditional marketing means becoming slowly redundant.
Examples of marketing online include various social media sites allowing for businesses to purchase digital space for advertising purposes. Above is a look into company, in this case; Tiffany & Co., using social media as a means of reaching a massive audience.
In a modern world, traditional means of marketing is seemingly lacking significance and effectiveness. Many insights into the topic of online marketing discusses the successes and benefits of such tools. However, under much of the success, is great difficulty in reaching the goals of the entity behind the ads found online.
While many companies move to online means of advertising, more people may be reached, but costs still remain. For every $92 (USD) spent on attracting customers, only $1 (USD) is used on converting that customer. The costs of software, hardware, web site design, maintenance of your site, the online distribution cost and time all must be maintained when advertising online. If not properly optimized, or not the first search on search engines such as Google, up to 70% of all potential customers can be lost. Furthermore, in the following blog, the author discusses how due to an exponentially increasing online there begins to be too much content for consumers to truly isolate and consume, this means for much of many ads’ potential being completely ignored.
Even though there are great benefits to moving towards an online means of advertising, the shift from traditional to online is still in play. In an increasingly expanding space, there is always room for improvements and innovation. As it stands right now, I feel the move towards online platforms for marketing is great, as it’s a more direct means of reaching an audience. As it develops, costs will come down, and access will increase, all the while leaving traditional marketing in the dust.
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Sources;
H. (n.d.). The Ultimate List of Marketing Statistics. Retrieved October 29, 2017, from https://www.hubspot.com/marketing-statistics
