Traditional media has been used within the marketing and advertising world for many years by millions of people. Traditional media is usually known to encompass television, newspaper, radio and magazine placements. These forms of media are the constant ways that businesses have reached their target audiences, other companies and competitors for decades. On a daily basis, it’s these outlets that businesses most commonly utilize for advertising and marketing purposes. While traditional media is an effective option for businesses, a more prominent trend of utilizing new media and digital outlets to reach consumers and specific target audiences is starting to emerge.
New media has taken the forefront in advertising. Not only are media companies relying on new forms of media more frequently and more often for their advertising and marketing purposes, they are also using it to find and access new information. Essentially, “new media” refers to content that is accessible on multiple different formats of digital media including, but not limited to, eCommerce, websites and mobile applications, social media, virtual reality, and location-based services. In regard to advertising and marketing, examples of new media may include online advertising (website banners, targeted ads, retargeting, etc.), online streaming (radio and TV) and social media advertising.
Currently, consumers are finding themselves relying on the internet to find information quickly due to its convenience. This factor makes new media and digital advertising pertinent for any type of business, as long as they have some sort of connection to the industry. There are very few businesses, even those that are considered “old-school” that do not have any kind of new media presence. With that being said, consumers also spend a decent amount of time with traditional media. A majority of people across the globe listen to the radio in the car, watch the news on their television and read magazines in line at the grocery store or while waiting for an appointment at the doctor’s office.
The best of both mediums is also utilized by consumers every day. With the convenience of being able to carry a mobile device or tablet anywhere, many times consumers may watch television while scrolling through their phone or tablet. Because of this multitasking conundrum, it is at these times that advertisers have to decide which form of media is the best in order to utilize their budget to produce their advertising and marketing strategies. It is important for companies to keep a balancing act and not strictly stick to one over the other, because traditional and digital media actually work well when both utilized together in different spaces. Weighing all options and keeping a close eye on analytics and statistics can help find a harmonious mix between both new and traditional media.
How to find equilibrium is the main question asked by advertisers. While traditional advertising is necessary and often used for businesses to reach their target audiences, finding ways to inject certain types of new media into campaigns is highly recommended. The majority of the budget should be spent on traditional media, as it is more expensive and has the ability to reach a broad audience, but some of the budget needs to be specified for more narrow audiences that may not be reached via traditional media.
Keeping all of this in mind, some businesses stick to traditional media only, while others do the opposite. It is encouraged to work with both sides of the spectrum, as advertisers must keep in mind that there is always a way to reach the end consumer! Traditional media is not going anywhere and neither is digital. While both have pros, both also have the potential to create a campaign that works for your business and your target audience needs.