We live in an age where we are transitioning between legacy media forms and new digital social media. Older users who are used to legacy media such as television, radio, and newspaper tend to resist the transition to social media. Oppositely, young users tend to discredit legacy media and favour new digital media forms such as Facebook, Twitter, and LinkedIn. With many potential consumers still utilizing both traditional and new social media forms, it is important to utilize the advantages of marketing under both the media types. Further, it is important that you consider making video a key part of your marketing strategy regardless of which platform you are advertising under.
While social media is gaining momentum, television broadcasting is certainly not dead. There is no doubt that levels of TV broadcasting has dropped since the rise of Internet media forms, however research suggests that as of 2013, 115.6 million Americans still own a television set. That being said, TV should still be an integral part of any company’s marketing strategy. People tend to view radio broadcasting similarly, assuming that it no longer delivers value. Like TV broadcasting, radio usage has declined in response to increasing social media usage, however radio still does have a wide reach.
One advantage that TV and radio broadcasting still have over newer Internet and social media advertising strategies are the benefit of reaching a mass audience very quickly. While it may be costly to distribute these high-volume mass advertisements, it may sometimes be well worth the investment.
An additional benefit of traditional marketing is that it works well when your company has a comprehensive understanding of its target market. If you have a good understanding of your customers, then traditional advertising methods such as billboards, TV, radio, and newspapers can potentially be very successful in attracting new customers.
Further, traditional marketing strategies often yield short term results when compared to their social media counterparts.
While traditional media has several disadvantages associated with it, companies can mitigate against many of these downsides by supplementing traditional marketing methods with modern social media marketing. In this way, you can gain the benefits of both marketing strategies while hedging against the downsides of using exclusively one.
With an estimated 1.47 billion people participating in social networks in 2012, it is forecast that 1.96 billion will be active on a social network by the end of 2015 and 2.44 billion by the end of 2018. With over 30% of the world’s population exposed to social networks of some sort, the amount of exposure that your business can get by pursuing social media marketing is incredible. Further, social media marketing enables you to build an online community which has several benefits including developing partnerships and proliferating your company’s advertisements by way of social network.
Because of the vast implementation of technology into social media, it is much easier to track consumer data. Because of this technology, much more marketing data can be collected and analyzed in order to make better future marketing decisions.
Social media marketing also offers benefits in its low-cost approach and its ability to create two-way communication channels between your company and the consumer.
On both social media channels and traditional channels however, it is important that you harness the power of video in your marketing strategy. As the most information rich form of media, in one minute of video it is possible to convey 1.8 million words of information. Further, you are more likely to not only capture, but also maintain your audience’s attention with video than with other media types.
Statistically speaking, all customers watch more video than ever before. YouTube alone captures more than 4 billion views per day. Further, an estimated 92% of business to business customers watch online video and approximately 40% of consumers surveyed say that they trust online video advertisements.
An additional reason to incorporate video advertising into your marketing strategy is that video advertising is no longer a competitive advantage but rather is a strategic necessity with big and small companies alike pursuing video advertisement as a part of their marketing mix.
Including video advertising on your website and other large social media channels improves your company’s search engine optimization. As search engine ranking algorithms include video as a key factor in ranking results, dissemination of your videos that translate to click through’s to your website will improve your web traffic and as a result make it easier for you to be found through search engines.
Video advertising further translates to mobile advertising as online video now accounts for 50% of all mobile traffic. With more than 85% of marketers reporting that they plan to increase their mobile advertising budgets in the near future, video advertising is a necessary part of entering the mobile advertising space and staying competitive. As mobile videos have a high completion rate with videos lasting 30 seconds or less having an average completion rate of 88.3%, you are further increasing the likelihood that the consumer will make it to the call to action in your video.
Utilization of video advertising offers further semantic benefits which allow you to more successfully connect emotionally with your viewers. As semantic marketing is the foundation of building long-term consumer relationships, ensuring that your company’s advertisement delivers information that resonates with the viewer increases the likelihood that the consumer will remember your company and pursue follow-up in the future. Further, video is the most effective medium to target user emotions as you can incorporate audio, visual, and text based cues to elicit particular emotions from the viewer.
While each individual advertising method has its strengths, the key to marketing success is integration. By utilizing the benefits associated with social media marketing, traditional marketing, and making a high-quality video to advertise your product, you will be well on your way to successfully multitasking your media marketing strategy.