Social media has rapidly integrated itself into our everyday lives, both personal and professional. For context, as of July 2015, total worldwide population is 7.3 billion, the internet has 3.17 billion users and there are 2.3 billion active social media users.
But how does social media compare to traditional marketing? What are the pros and cons of each?
Pros and cons of social media marketing include:
+ It is cheap. You can reach 1,000 people for a fraction of the cost using social media compared to television, billboards or even email
+ Social media is the only marketing platform that allows you to engage and interact with your audience – it is a two-way relationship, which can be hugely valuable for brands
+ The results are measurable, and marketers can take immediate action to spot trends and re-align campaigns
- Time consuming – not only do you have to be there to publish content regularly you also need to respond to audience issues
- Disappears rapidly – as quick as you publish a post it could be history within a few minutes
Pros and cons of traditional marketing include:
+ Short term results
+ Permanent and tangible
- One way non reciprocal, no dialogue
- Hard to measure
- Can be costly
Traditional marketing has always been an important element in the marketing mix. It is trusted by consumers and has been proven to be a valuable tool for businesses.
Social media marketing is fast, engaging and an interactive way for audiences to learn about products and services. Social media is also great at providing businesses with analytics and insight about who is viewing your content. Richard Branson says: “Social media is not only more cost-efficient than traditional advertising, but it also offers great opportunities for innovative engagement with your customers.”
At Jellyfish Livewire we believe that you should not forget about traditional marketing, you should use both traditional and social media marketing to complement each other.
Contact us today for more information on how we can help you with social media marketing.