As the consumer market grows with plenty of disposable income, businesses are willing to try any kind of marketing strategy that can help them get an edge. So shifting from advertising on television to advertising on social media platforms can be a risky transition for a business whose sole marketing strategy has been traditional commercials.
To target the younger, social media prone audience of 2021, this transition is necessary. While TV advertisements were the only way to inform the market of a product decades ago, times have changed and now it’s ‘advertise on social media or don’t advertise at all’ – and here’s why.
Why social advertising is more effective than TV advertising
If you’re a marketing head currently thinking of ways to maximise your reach on a budget, we’ve got your answer. Social advertising has become a popular tool among advertisers as people have stopped watching TV like they used to. Social media is where all the action takes place now, so it’s time to get in on the act before you fall behind.
1. Larger audience
While traditional TV advertising reaches out to the part of the population that has subscribed to a channel and is limited by geographic boundaries, social advertising is effective throughout the world. The internet knows no boundaries so if you’re an English tea company that wants to advertise your product all the way to China, social advertising makes it possible to reach any demographic you want.
2. Target marketing
Sure, TV advertising can be used for target marketing like advertising a sports brand during a football game. But this still involves some guesswork regarding the kind of demographic that would be tuned in to watch the show. With social advertising, marketers can target their advertisements only at audiences that fit specific demographics. Digital media tools allow marketers to mine personal data and target the advertisements to only those who could be interested in buying their products.
3. More cost-effective
The difference in the cost of advertising on television versus advertising on social media is massive. While a 20-second ad will cost you thousands (or tens of thousands) of pounds, a targeted social media advertisement will cost a fraction of the price and probably lead to more conversions compared to the former. In fact, considering that SEO is free all you need to do is hire a content marketer skilled at SEO and you’ll get plenty of organic traffic at absolutely no additional cost.
4. Digital analytics
The best part of social advertising is how easily you can track the performance and effectiveness of an advertisement. With television advertisements, you’ll never know whether the ad ever moved your audience to actually purchase a product. But social media advertising allows you to keep track of CTRs and conversion rates to measure how an advertisement is doing and make changes if necessary.
5. Follow the world
Ultimately, it comes down to where the world is headed. If no one’s left watching television, or at least responding to the commercials, then there is no point advertising there. As the majority of the population shifts to the digital world – reading their news online and watching their shows online – it makes sense to follow them there than be left behind.
While TV definitely works for promoting a business, product or service, social media does it better at more affordable prices. As a marketer, it makes sense to devote more of your budget to where your audience is. This doesn’t mean cutting out TV advertising (yet) but rather, starting to integrate social measures and find the right balance between your television and social advertising.