There are two ways to reach out your customers about your products and business through traditional media and social media.The results of the empirical study show that both traditional communications and social media communications have a significant impact on brand equity. While traditional media has a stronger impact on brand awareness, social media communications strongly influence brand image.
How do you select the best advertising mix for your business?
Are you looking for Maximum millage and reach with minimum budget?
Which is latest trend for Advertising?
Selecting the best advertising mediums for your company can be challenging.
There are so many options available today, such as print, radio, television commercials, and the Internet (Social Media Platform).
- Traditional media has created exposure for thousands of businesses for decades.
- With the Social Media, you can take advantage of social media, content marketing, and search engine marketing.
The advantages of social media marketing are numerous.
- It’s cheaper. A lot cheaper. You can reach 1,000 people for a fraction of the cost using social media than you can through television, billboards or even email
- Social media is the only marketing platform that allows you to engage and interact with your consumers – it’s a two-way relationship, which can be hugely lucrative for brands
- The results are measurable, and marketers can take immediate action to spot trends and re-align campaigns
There are many benefits of social media that indicate how social media is more effective than traditional media. These benefits include the ability to communicate with your consumers in a two-way format, developing a long-term following, and being able to quickly promote new products and services.
However, there is one defining metric that defines the better option between traditional media and social media. This metric is cost per thousand impressions (CPM).
CPM is an advertising metric that measures how many advertising dollars you must spend to reach 1,000 people. The goal of any advertising should be to reach as many relevant people as possible at the lowest cost.
In a recent cross channel media costs comparison, the CPM of various media channels were measured. The results were interesting. Take a look below.
Social media is cheaper than any form of advertising available today. It is one of the only forms of media that can expose you to over 1,000 people for less than $3.
In addition, you can incorporate traditional elements into your social media campaign. You can advertise video commercials, publish articles, host live podcasts and webinars, and much more. Social media is the only “billboard” that can communicate to your customers, answer their questions, and provide them with feedback.