Three Steps to a Successful Digital Media Strategy

Digital Media

Traditional media are undergoing a fundamental change, requiring them to switch from serial cost-cutting to a full reset. This will require them to abandon unproductive revenue streams, embrace content and data from outside the ecosystem, and capitalise on the recent surge in digital footfall. Here’s a look at what these changes mean for your media strategy. If you are considering a digital transformation, consider the following three steps to ensure success:

Track performance – As with print advertising, digital marketing is very easy to set up and measure, but it can also have its downsides. For smaller businesses, digital expenditure is easier to swallow because it’s a relatively low cost, and ad contracts can tie a business to media that doesn’t perform well. It’s also easy to turn off a particular ad when cash is flowing. In addition to tracking performance, digital advertising allows you to track the specifics of your campaigns and measure conversions.

In addition to being free, digital media features a massive library of content. These services offer never-ending content, such as music, TV shows, news, games, and more. In addition, social media algorithms help personalize newsfeeds and serve content based on user preferences. As a result, you don’t need a subscription to use social media. You can also get the latest news and entertainment on your favorite social networks. The choice is yours!

A changing paradigm in media consumption has shifted the dynamics of the media landscape. Rising broadband penetration has hurt traditional video media, and the SVOD (subscription video on demand) marketplace is disrupting television and movie distribution. The resulting void in content has led TV viewers to migrate to streaming services and subscription video on demand services, while traditional publishers are forced to resort to reruns of classic movies. The pandemic is an ideal test bed for new entrants looking to tap into an audience that is largely shelter-in-place.

Traditional marketing entails using print media and hoping that the right audience sees the ad. Today, digital platforms allow you to target specific audiences, showing ads based on location, personal preferences, and likely behavior towards the ad. This way, you can maximize the likelihood of getting a sale while simultaneously lowering your advertising costs. In addition, some email providers allow you to build custom lists based on customer demographics. That means you can create a custom list for each of your customers, instead of just targeting the ones you’re targeting.

Despite the fact that the COVID-19 epidemic has caused the ad industry to suffer a serious blow, the impact on advertisers’ media budgets has been immediate. Spending cuts across the travel and cinema sectors, consumer packaged goods, healthcare, and digital retail all saw a rapid decline in consumer spending. While some advertisers rushed to increase their budgets, others pulled back. These changes are indicative of a broader shift in consumer preferences.