Survey Shows 30% of Businesses Focus on Digital Marketing
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Survey Reveals Rising Trend in Digital Advertising
GoodFirms, a universally renowned B2B ratings and reviews platform, released its recent survey research report titled "Traditional Advertising Vs. Digital Advertising". The survey aims to share the benefits and drawbacks of traditional and digital advertising and gather data on current marketing trends, interests, methods, and outcomes.
Digital Advertising Popularity
According to the GoodFirms survey, 64.9% of businesses utilize digital advertising to promote their products, while only 2.7% rely solely on traditional advertising. Additionally, 32% of respondents reported using both advertising methods equally.
Budget Allocation Insights
Regarding budget allocation, the survey indicates that 59.9% of businesses devote less than 25% of their marketing budget to traditional advertising. In contrast, 33.8% allocate between 51% to 75% of their budget for digital advertising.
Advantages and Drawbacks of Advertising Methods
Despite the ongoing use of traditional advertising, several businesses continue to find value in its ability to boost credibility, target local audiences, engage effectively, and enhance brand awareness.
Challenges of Traditional Advertising
However, the survey highlights significant drawbacks of traditional advertising, including difficulties in audience targeting and segmentation, higher costs, time consumption, and challenges in measuring effectiveness.
Trends Shaping Digital Advertising
Although a small percentage of businesses still rely on traditional advertising, many are leaning toward digital methods for their ability to reach audiences globally in real time, improve visibility, expand customer bases, and enable precise targeting. Survey respondents also noted drawbacks of digital advertising, such as intense competition, rapidly changing trends, hiring challenges, security threats, and negative consumer feedback due to extensive data gathering.
Future Trends in Digital Advertising
The GoodFirms survey also revealed future trends in digital advertising likely to dominate, including hyper-personalization, increased use of AI, augmented and virtual reality, data privacy and security, and programmatic buying for display advertising.
Conclusion on Advertising Strategies
Both traditional and digital advertising hold advantages and limitations. When integrated effectively, they can provide greater benefits for businesses. Interestingly, most survey participants agreed on this approach. Nonetheless, AI is anticipated to play a pivotal role in the future of programmatic advertising, according to GoodFirms.
About the Research
The GoodFirms Survey titled "Traditional Advertising Vs. Digital Advertising" consulted 760 businesses regarding their advertising method adoption and the associated benefits and drawbacks.
Key Findings
Key findings from the survey include:
- 66.5% of businesses are willing to increase their investment in digital advertising.
- 45.7% of respondents find telephone advertising effective, while 38.9% believe newspaper advertising is significant.
- 87.4% stated traditional advertising complicates audience targeting and segmentation.
- 79.3% of surveyed businesses indicated that traditional advertising entails higher costs.
- 94.5% prefer using social media ads for product promotion.
- 78.5% noted rapidly changing trends as a drawback of digital advertising.
If you wish to participate in GoodFirms' future research studies, register your name and company details with GoodFirms.
About GoodFirms
GoodFirms is a B2B review and rating platform that provides in-depth coverage of IT products and services to B2B service users. Both service seekers and providers benefit from the reviews and insights delivered by GoodFirms.
Frequently Asked Questions
What was the purpose of the GoodFirms survey?
The survey aimed to assess the benefits and drawbacks of traditional versus digital advertising and gather current marketing trends.
What percentage of businesses use digital advertising?
64.9% of businesses use digital advertising to promote their products.
What are some key drawbacks of traditional advertising?
Challenges include difficulty in targeting, higher costs, and complications in measuring effectiveness.
What trends are expected to dominate digital advertising?
Future trends include hyper-personalization, increased AI usage, and augmented reality.
How does GoodFirms assist businesses?
GoodFirms provides reviews and ratings that help B2B service users make informed decisions in selecting IT products and services.
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