In an ever changing world, technologies rule the roost. With the advent of Digital Marketing, most traditional marketing methods have taken the back seat. Even though some may argue that traditional marketing hits the nail hard on the head, forcing buyers to make the conversion straightaway, statistics tell a different story. According to a recent study, it has been revealed that while Digital Marketing spend has registered a 14% increment, Traditional advertising spend has experienced a 116% drop!
Let us analyze the situation and see for whom the bell tolls most
Print Advertising tops the list of casualties hit by digital marketing as of now. Sadly enough, it has declined by more than two-thirds in course of the last couple of decades. To be more precise, it has nose dived from a whopping $60 billion to as low as $20 billion. It seems that the day is soon coming when commercial printers in the US will have the same fate as that of U.S. Post Offices since nobody now writes letters leave aside posting them.
Taking this clue, most marketers have refrained from using print publications for consumer reports or even entertainment purposes. But they aren’t sitting idle either. They are targeting media that gets the most traffic on the internet. If you care to take an analytical look at the situation now, you will be surprised to observe that the time print advertisement took to start its downward journey is the same that Internet took to reach the present state.
Telemarketing is yet another casualty that has been hit by digital marketing under the belt. So far as personal one-to-one approach was concerned, telemarketing used to be first choice for generating lead. But here again, statistics tell the truth. It clearly indicates that the average budget allocated on telemarketing has already gone down from 10% to 5% during the last financial year.
Minor investigation will reveal that social media is primarily responsible for this downfall. Interestingly enough, 62% of companies confirm that as of now, social media has turned out to be a significant source of leads. Instead of repetitive cold calling for the sake of introducing a product or services (mostly on deaf ears) over the phone, marketers have found that they can jolly well use social media outlets to familiarize targeted or niche consumers with their brand as also to recognize prospects through social interactions or shares.
Television Advertising, needless to say has suffered the same fate. Due mostly to the rise of digital marketing, the average viewing of television programs has undergone some change. With the emergence of contemporary websites like “Hulu’ viewers now stream television shows only when they feel like doing it. As a result, most commercial viewing has almost been eliminated.
If you think marketers and advertisers have ignored it, you are wrong. Today, around 37 million households own a connected device that permits them to watch digital video on their TV screen. It has also been found that among these connected family units, the younger consumers are in the forefront, thus outpacing the general population by a considerably high proportion. In other words, the younger generation is more inclined on utilizing digital and/or online television, thus shifting towards non-traditional television viewing in a true digital world.