With the growing popularity of social media marketing, online advertising and inbound marketing there is an ongoing debate among consumers and marketing consultants as to whether or not traditional media is dead. Reports and studies are popping up everywhere with statistics that are quite convincing, for example:
Inbound marketing costs 62% less per lead than traditional, outbound marketing (Source)
Per dollar spent, content marketing generates approximately 3 times as many leads as traditional marketing (Source)
It is no surprise that consumer behaviors have changed quite dramatically over the years. The advent of social media and digital technology has changed the way that people of all ages spend their time. Why read a newspaper when you can instantly get alerted to breaking news on your mobile phone? Why sit through numerous commercials when you can just fast forward to the rest of your show? People’s lives have become so crazed that convenience and speed is a strong motivator today not only for consumers, but for marketers too. Marketers can get an online display ad up and visible to the audience in days whereas a magazine ad could take months.
Despite the fact that these statistics and trends paint a rather bleak picture for traditional marketing, as marketing consultants, we argue that traditional media is certainly not dead. While it has undoubtedly lost some of its valor in recent years, things like television, radio and magazines can still have a place in your integrated marketing approach.
Why You Shouldn’t Ignore Traditional Media
Here are some facts about traditional media:
98% of homes own a TV (Source)
85% of TV content is viewed live (Source)
DVR usage only accounts for 8% of our TV time (Source)
The age distribution of radio and mobile audiences is strikingly similar (Source)
TV is still seen as the most influential ad medium across all ages and for purchase decisions (Source)
Rarely will there ever be one marketing medium that can achieve 100% of your marketing goals which is why we marketing consultants believe strongly in an integrated approach. Sure, inbound marketing may cost less per lead but if your goal is not strictly lead generation, it may be beneficial for you to supplement your inbound plan with some traditional media. Perhaps your goal is to generate leads and create brand awareness. Television, radio and magazines have exceptional reach and their cost per impression can be very low.
The Bottom Line
Your audience matters. Your goals matter. These things will dictate your integrated marketing approach. You can have the most relevant marketing message in the world but it won’t matter unless you are delivering it to the right person. Research is vital to determining where your customers are spending their time, what media they are consuming, where they get their information and what drives them to make a purchase. Mobile and social may be up and coming marketing channels but if the majority of your audience spends their time listening to the radio and reading magazines, the money you spend on these digital mediums will provide a poor ROI.
