Advertising serves the purpose of creating awareness, interest, stimulating desire and inducing action. With so many options available to the consumer, advertising has become a necessity for all businesses. More and more businesses are spending a huge chunk of their revenue on advertising. For advertising to be effective, selecting the right advertising medium is very crucial.
Before the advent of internet, TV, Print and Radio have been the three most popular advertising mediums. Radio and Print are the oldest advertising mediums. Telecommunication has also been a popular advertising medium. In the recent years though, the trend has been changing with digital advertising growing very fast.
A study published on theatlas.com shows the growth rate of different advertising mediums in 2017 in different countries. The countries taken into consideration are India, UK, USA, Brazil, Russia and Germany.
The graph very clearly shows that digital medium is the fastest growing advertising medium across almost all countries. The reason that the whole world is preferring digital over other advertising mediums is its reach, affordability and targeting ability. Let’s analyse TV, Press and Digital platforms individually to understand their growth pattern.
Print has enjoyed the status of the most preferred advertising medium for a very long time. But in the recent years, its growth as an advertising medium has considerably slowed down. However, India is the only major country, which is showing a positive growth in the use of print media for advertising. In all other countries, people have shifted from print to online media for all their information consumption needs. But in India, print media still has its takers. One of the reasons for this is the inadequate availability of internet. Also, advertisers feel that they would be able to reach more people through regional language newspapers and magazines.
A major disadvantage of Print media is that it cannot be consumed by the illiterate. This is where TV comes to play. Also, many studies have found that audio visual content has more impact on a person’s brain than a written content. TV as a medium of advertising is very effective. The recall rate of TV advertisements is far higher than print advertisements. Also, it reaches the wider masses as even illiterate people can see and remember those ads. The use of TV for advertising purposes is growing in almost all countries taken in the study. But the growth is slowly declining owing to digital media.
The reason for the decline in the growth of Print and TV as advertising mediums is internet. With a smartphone in every pocket and internet being a necessity for everyone, digital medium is the most preferred advertising medium in 2017. Mobile advertising, email advertising, social media advertising, pop-ups, website ads, banner ads, etc. is the new trend in advertising.
We can see that, except for Brazil, all the surveyed countries are showing a positive growth in the use of digital media. Digital as an advertising medium has a lot of benefits when compared to its counterparts.
Advertising through digital media lets you target the correct audience. Advertising on digital media gives you the freedom to decide who sees your ad which is not possible in TV or print. Digital platform is also very inexpensive. Businesses don’t need to set aside huge advertising budgets. You can advertise on digital media according to your budget. There are many digital platforms available to advertise and you can choose the ones that suit your requirement and budget.
And the best part is that unlike other advertising media, you can actually track the effectiveness of your advertisements in real time. You can also improve your ads, change your campaigns and do a lot more without overspending.
A wider reach, customization, real-time tracking and budget-friendliness has made digital media a fastest growing advertising media. All this combined with demonetization and Digital India initiatives by the Govt. of India has made digital platform the most preferred advertising medium in India. Digital platform as an advertising medium in India is supposed to grow at a rate of 30% in the year 2017 in India.