How do you know which Advertisment to use for your business? Have you asked yourself? I know I have. Meanwhile, I was curious to find out what the difference between TRADITIONAL media marketing and SOCIAL media marketing was...
Traditional media has created exposure for thousands of businesses for decades. On the internet, or in this case here at PowerSharing, you can take advantage of social media marketing. 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 long-term following, and being able to quickly promote new products/services.
I have found that 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. It was found that 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.
There are additional costs associated with each medium. With Direct mail, you have to consider print and mailing costs. TV/radio, a spike in prices during peaks times to advertise and Billboard also range based on quality of traffic and location. With Social media marketing, you have only one hidden cost – Time. Whether it is your time, an employee’s time, or an agency’s time, I'm certain we have all heard the phrase “time is money”? ...time is still considered a cost. There are many ways of proving that SSM is more effective than traditional media, but I am sure cost is one you all could agree on. The ability to track results, target your exact audience, and use data to guide your decisions, are just some of the benefits to this medium.
Tomorrow, I get to take a one-on-one mentorship with a Social Media Marketing Specialist, and will be back to add more SSM benefits as well as share anything else I have learned, as a series.