Digital marketing has been the dominant marketing method for the last few years since new-age social media channels like Instagram and TikTok have been widely used. The 28th Edition of The CMO Survey reported that there has been an annual decrease in spending on traditional marketing of -1.4% between 2012 and 2022. However, traditional marketing expenditure is set to increase annually from its current 1.4% to 2.9%. Throughout this blog, we will be discussing why traditional marketing is on the rise and whether it will remain this way.
Video and Television Advertisements
HubSpot released a survey that stated that 53% of participants had disliked the ad before a video started playing, and the other 43% didn’t even watch it. From this evidence, it is safe to say that marketers are looking for another method to get the results that they are wanting. MarketingSherpa reported that more than half of consumers who receive mail advertisements will most likely watch these television and print advertisements. It is clear to see that traditional advertisements are currently experiencing an increase in their engagement.
Trust Built from Traditional Marketing
The most trusted form of advertising is print advertising, which holds 82% of deciding to purchase. Both American and British consumers highly trust traditional marketing methods like radio and print, more so than social media marketing. This can tell us that marketers can use traditional advertising to build their brand credibility.
The Rise of Podcasting
The use of podcasts is on the rise as they use an on-demand approach, which is like the use of traditional radio. Ads Wizz presented a study that found a 53% increase in new podcasts and an 81% increase in podcast ad impressions. As they reach more than 100 million monthly listeners, podcast advertisements are effective due to listeners being influenced by podcast hosts’ endorsements, as well as gaining their trust.
A study from Edison Research’s Super Listeners in 2020 showed that 45% of podcast listeners believe the hosts of their favourite podcasts use the brands mentioned on their shows. In addition to this, almost 50% of podcast listeners pay more attention to podcast ads than to any other format. This shows us how effective podcasting can be for a brand’s audience.
Magazines and Digital Content
The magazine industry is prime for reaching specific target markets and audiences, as well as still having many loyal consumers. These consumers can count on magazines because of their niche interests like business, travel, and antique cars because of their hyper-focused consumer sections. Essentially, the benefits of media like magazines help to build trust within the readership, so it is important to consider how different types of advertising can help to reach magazine audiences online and in person.
Newspapers and Online Ads
Other print media like newspapers are still a great way of advertising for businesses. Some sections of newspapers, like the front page, used to be highly competitive, which resulted in it being expensive as well as packed with other advertisements.
Newspaper advertising for small businesses with smaller budgets would highly benefit from using this medium. Most newspapers also have online components where you could negotiate added value for banner advertisements or even social media posts on their channels.
Smaller, independent businesses are still subject to using traditional marketing methods to improve and grow their business. Still, in the technology-driven world we live in, marketers rely on traditional marketing methods in some way or another for growth and the benefits of cheaper advertising for businesses.
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