The marketing industry has been turned on its head in the last two decades. The advent of the technological age and its new platforms, including the internet and social media, have transformed the way we can promote and brand our businesses. But do the traditional marketing methods still have a role to play?
It’s all about measuring the return on your investment, which tells you how effective your marketing methods are being. But is it easier to calculate the ROI using traditional or digital methods?
If you invest in digital marketing, there are several effective ways to track ROI, which gives digital marketing the edge over traditional marketing. That’s because online tracking possibilities are endless, with tracking tools and big data the key to measuring the effectiveness of your campaigns. However, traditional marketing tactics are still worth investing in, even if tracking their ROI is less clear cut.
Choose your metrics
The key to tracking your digital ROI is choosing which metrics to track. However, there are multiple online tools that make it easy to select and follow the metrics that are important to your business. For example, if you want to see how your campaigns are driving website traffic, then you simply select these metrics to monitor and you can have access to detailed data that tracks your progress.
With traditional media, there is no clear way of knowing how many people have seen your print ad or billboard and have been driven to your business, unless you do market research or questionnaires. However, this information can be unreliable, meaning that investing in traditional marketing can be more of a risk.
Find your medium
There are various ways that digital marketing works, with different search engines and methods of ending up at your site. Using digital marketing tools, you can find out exactly how customers are reaching your site. This could be from paid social media advertising, online influencers or links, or through more organic purposes.
Results when you need them
The other major advantage for establishing ROI on your investment in digital over traditional is the timescale. With digital marketing it’s possible to get real-time results in a matter of seconds. Just click a few buttons and you have accurate information at your fingertips.
This is just not possible with traditional media, and even when comprehensive and accurate results are available, these are often not ready or obvious for some time after the event. In fact, it might just be a case of waiting for your monthly or yearly sales results to see if your marketing efforts have been successful.
If you would like to know more about the advantages of digital marketing over traditional methods, and how this can be applied to your business, then get in touch with a member of our team. We look forward to hearing from you.