Digital Media - A Trillion Dollar Industry

How do we define conventional media?

Conventional media refers to long-established advertising channels. For years, businesses have relied on these tried-and-true ways. These channels can be quite powerful, and for many businesses, they constitute the entire advertising expenditure. According to digital research firm eMarketers(1), businesses would spend $104.32 billion on traditional marketing strategies in 2021. 

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Traditional media has the disadvantage of necessitating a high advertising spend. As a result, especially as new media becomes more prominent, businesses are beginning to expand their marketing tactics to incorporate less traditional outlets as well.

Billboards, Radio, TV, Newspapers, and Magazines are some of the most traditional media being used for a long time in the world.

There have been many debates claiming that these media options are outdated and the new media digital is the only way to reach your potential customers. However, it completely depends on the target audience and area you are targeting.

The studies have suggested that digital media has a proven method of showcasing the results of your campaigns minutely as well as clearly defining the next steps that can be taken to achieve the desired goals.

Whereas, traditional media still has a great hold in the industry of marketing and advertising.

Traditional and electronic media Walk hand in hand

Traditional media does not have to fight with digital media because both are great marketing tools. These mediums can be employed to increase the effectiveness of your advertising strategy. Both cater to a distinct purpose and performance, and it is an excellent technique to establish a brand position and recall value among the target audience.

To illustrate, consider the following: Assume you own a dessert store or a business that you want to expand. Everyone who like sweets is your target market. You want to reach every home near your café or dessert business. You've spent your whole advertising budget on digital media, but you still need more Visitors in your shop.

Spreading your funds to produce radio campaigns with giveaways and immediate offers, having an eye-catching billboard in the relevant city, and so on. Spending your advertising money on numerous mediums can increase brand exposure and recall among individuals who have seen the brand on the specified media. 

We do not end here since we need to know how we plan our marketing and advertising strategy in depth. 

Keep an eye out for the next Marketing and Advertising Newsletter on July 1, 2023. In that, we will learn about the many sorts of media in India and how to use them effectively.