It would be wrong to say that the rapid development of technology hasn’t changed the world. Nowadays, we can do almost anything online. From shopping to watching TV, the internet has made everything more accessible. However, this digital revolution has probably affected the marketing industry the most due to frequent changes in trends. For decades, traditional media ruled the advertising world without competition, but now with multiple options on the table, online media vs. traditional media seems to have a new forerunner.
What Is Traditional Media?
Traditional media are media outlets and institutions that predate the Information Age. Here are a few traditional advertising methods that make use of this type of media:
- TV commercials
- Radio advertisements
- Cold calling
- Flyers
- Billboard advertisements
- Door-to-door sales
- Newspaper ads
Although the industry has relied on these channels for decades, they have lost a lot of traction over the last few years and have been in a steady decline ever since.
The Decline of Traditional Media
These traditional marketing methods were a staple of many brands’ promotional endeavors until recently. However, with the rise of online media and a shift in consumer trends, legacy media lost much of its appeal.
Just looking at the USA, the time spent viewing digital media increased to over eight hours a day in 2023, while traditional media consumption (TV, radio, newspapers, magazines, etc.) has reached an all-time low this year. More and more eyes on digital media channels also mean more opportunities for advertisers to reach a wider audience. So it’s no surprise that the rise of digital media has led to the boom of digital advertising.
What Is Digital Media?
In contrast to traditional media, digital (or online) media is all media that is encoded and can be viewed, distributed, or stored on digital electronic devices. This technology unlocked new channels for marketers to reach consumers. Here are a few examples of digital advertising methods that consequently came to be:
- Content marketing
- Video advertising
- Email marketing
- Pay-per-click advertising
- Social media marketing
- Search engine marketing (SEM)
The Rise of Online Media
The above marketing methods have been present for years now. But, each year, they gain more and more traction. Of course, this is the consequence of the overwhelming increase in internet usage over the past two decades. As of April 2023, there were 5.18 billion internet users worldwide, more than 60% of the global population.
But why did most advertisers shift their focus toward Internet marketing? Aside from what we’ve mentioned already, the development of digital media brought forth several other innovations.
The two most prominent benefits of digital advertising (such as display advertising and mobile video advertising) over its traditional counterparts are codependent but equally crucial. The first is increased interactivity and engagement, where videos excel the most. “But how are videos different from TV commercials?” you may ask? Well, that’s where the second benefit of online advertising comes into play — targeted ads.
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Targeted Advertising
What does targeted advertising entail? Simply put, it means that the ads users will see will be highly relevant. Advances in targeting technology allow marketers to get to know their audiences better and make it easier for them to reach only the most relevant consumers.
The above factors are what sets digital advertising miles ahead of any of the traditional marketing techniques. And when you combine that with the power of video content marketing, you get a high-converting, wide-reaching, and engaging advertising technique that would be impossible to replicate on TV.
There are two most commonly used targeting methods in advertising:
- Contextual Targeting — This targeting technique serves ads based on the contents of a website the user is visiting (e.g., it will display cooking-related ads on a website about cooking).
- Behavioral Targeting — This targeting technique serves ads based on user preferences and search history (e.g., it will display ads based on online behavior and content consumption regardless of the website they visit).
These techniques are the primary reason businesses are finding more success advertising online than via traditional means. Thanks to the abundance of available audience data online, these targeting methods help marketers get their products in front of their target audience in the right place and at the right time. This applies across all industries, such as healthcare, where HCP online engagement is vital in delivering valuable information and resources to healthcare professionals (HCPs).
Online Media vs. Traditional Media
To showcase how online media surpasses traditional, we decided to compare them based on the following characteristics.
Cost-Effectiveness
Creating and publishing content online is generally more accessible and cost-effective than traditional media. Online publishing requires minimal resources.
In addition, when it comes to online advertising, it’s much cheaper than traditional, with the average CPM for online outlets like social media being around $3, while the lowest price for radio, for example, is usually around $25 for a 30-second radio ad. Considering how cost-efficient it is for advertisers to focus on online advertising, there is a higher demand for ad inventory, giving online publishers opportunities to boost their revenue.
Format Variety
Online media comes in a variety of formats — websites, social media, blogs, online news portals, streaming services, and more.
Delivery
Online media is available at any time. What makes online content so appealing is the fact that users can access it 24/7, from various devices like smartphones, tablets, and computers.
Engagement
As mentioned, online media is significantly more interactive than traditional media — not to mention that modern outlets like social networks and video-sharing platforms offer new means for direct consumer-to-business communication.
Data Accuracy
With real-time analytics, advertisers and publishers can track the performance of campaigns and ads in detail, allowing them to better scale and sort their budgets.
Consumer Trust
When a brand has a strong online presence, it allows consumers to research its products and even check out user reviews before committing to a purchase. That helps build consumer trust and nurture relationships with customers.
Reach
With available targeting tools for online advertising, reaching target audiences is easier than ever. Not to mention, the potential to expand reach with the amount of current online users is endless.
Feedback
The ability to interact with your audience allows for better content quality control. Receiving feedback helps companies tailor their content to the audience’s performance, as well as take note of the previous product/content drawbacks.
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FAQ
1. Why is online media better than traditional media?
Online media is better than traditional media due to its global reach, higher engagement, cost-efficiency, and better targeting capabilities.
2. What is the difference between traditional media and new media?
The main difference between traditional and new media is the method of distribution. New media, often referred to as online media, is content that can be viewed, stored, and distributed on the Internet. Traditional media, on the other hand, refers to media such as newspapers, billboards, magazines, and TV commercials.