My own personal belief is that Traditional Advertising is dead (that is of course is my opinion, leave yours in the comments below), the reason for this is very simple, you only have to look at the facts. Back in 2009, the market share for advertising was this.
Television – 38.3%
Newspaper – 22.4%
Other – 22.1%
Social Media – 17.2%
Skip forward to what the marketing share is predicted to be in 2019, and we see that in a decade the world has become far more digital.
Social Media – 38.9%
Television – 35.9%
Other – 15.1%
Newspaper – 10.1%
This shows what we have been predicting for the last 10 years, that traditional marketing, whilst not quite dead, is definitely dying a slow and painful death, as other platforms take over the mantle from them. The most noticeable signal of change, however, is the relative success of companies such as Vice, Buzzfeed and Vox – and the fact that some of their largest backers are from the old guard.
All of the companies are valued at £1 Billion or more by private investors. More importantly, however, they’ve also posted strategic investments from legacy media companies. Some of these include NBC Universal, The Walt Disney Company, 21st Century Fox, and many more.
Digital will become the largest channel for ad revenue globally by 2019 – investors and companies that believe in the media business should get prepared for the start of the digital era of marketing.
But let’s play Devil’s Advocate for a minute and let’s talk about why Traditional Marketing, could in fact rise again. There are several reasons why people still believe that Traditional Marketing will rise again.
We will start this off with the fact that Traditional Marketing has easy accessibility. Although more and more people are making full use of the advantages the internet brings, there is still a significant number of potential customers who either do not have access to the internet, or are not internet savvy. So while advertising online will certainly increase a business’ customer base, traditional marketing methods can be accessed by just about everyone, and are thus very helpful in increasing a brand’s publicity.
The next reason that traditional marketing could survive the digital era of marketing is because it is the less expensive option. Digital marketing has a lot of appeal and benefits, but it can be quite pricey. Traditional marketing, on the other hand, have far less expensive options. Something as business card printing can have a significant impact on businesses, especially when these are handed out strategically to people who have good networks. Flyers and banners, additionally, don’t cost an arm and a leg to produce, and can actually reach a lot of people when handed out at populated areas.
So that was why we think Traditional Marketing is on its last legs, what do you think about traditional marketing? Is it still relevant, is digital marketing going to take over completely? Let me know!
Institution Marketing - SEO Specialists