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Is digital marketing a waste of Money?

Is digital marketing a waste of Money?

Discuss Is digital marketing a waste of Money? within the HOT Debates - The Big Fight forums, part of the Management Students Voices ( MBA,BMS,MMS,BMM,BBA) category; yes ,i thing its right way to market your product now days.like even many customers search riview or feedback before ...

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Re: Is digital marketing a waste of Money?
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Raviraj Mistry
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Re: Is digital marketing a waste of Money? - May 28th, 2012

yes ,i thing its right way to market your product now days.like even many customers search riview or feedback before purchase any thing,if you have targeted your brand very well on it, then it will be useful.the only problem is that you cant really judge on "target market".whom to target in some possible product.n as per eco times stated US 30-35 % business is through online.trend is also fastly growing in india
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Re: Is digital marketing a waste of Money?
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Manish Gulati
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Smile Re: Is digital marketing a waste of Money? - May 31st, 2012

I wouldn't agree with the statement that digital marketing is a waste of money, rather it is a value addition to the brand. TV viewing audience is shrinking on a continuous basis, esp in the younger adult segment who spend most of their time on internet. It is extremely important for a company to make sure the target audience is not reducing in number, hence they are changing their way of working with the changing consumer behaviour. It is a market trend and impact of this is the change in media vehicles.
No doubt the traditinal media of advetising esp. TV has its own benefits (talk about the 30 seconds adv. premiered during the TV soaps directly targetting and mesmerizing women, who are the major customer segment), it lacks the platform the digital media can offer.
Although we’re in the age of blogging and social media, being featured in the traditional media (TV, print and radio) is still important. In many ways it’s even more important than it was a decade ago. The recognition factor that traditional media offers is immense. Most consumers will be able to recognize and identify popular newspapers, magazines or TV station much more readily than then will the most popular blogs. The traditional media have built credible brands that carry weight, influence and credibility.
However, cost effectiveness is the main term being used and followed across industries. Every company is looking higher return over a little spend. A spend on digital advertisement is way less than cost incurred for a TV advertisment. Moreover, digital media offers a two-way communication, fetching results on the very spot. Companies are getting more impressions at less CPC/CPM in digital over traditional media vehicle.
Marketing is ever more heading towards direct campaigns, with major organisations leading the way. Rather than hiring a massive billboard ad, they’re using marketing automation software to promote their brand and reach their market in intelligent and targeted ways.
Lately, P&G reduced its advertisement budget of about $10 billion for traditional media over digital media on account of its more efficieny and less cost.

Regards,
Manish
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Re: Is digital marketing a waste of Money?
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Prem Gaire
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Re: Is digital marketing a waste of Money? - June 1st, 2012

I agree with Manish! The digital advertising business is more specific and more precise while being less costly. It is very effective in the developed countries as anything either first hand or second hand can be traded. It has given an opportunity for every person to become a seller! This is all because the online advertising works and in a way that was never thought or dreamed of before!

Calling online (whether social media or any other type) marketing a waste of money is outright incorrect!
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Re: Is digital marketing a waste of Money?
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Farhana Khan
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Re: Is digital marketing a waste of Money? - June 1st, 2012

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Originally Posted by bbageek View Post
I agree with Manish! The digital advertising business is more specific and more precise while being less costly. It is very effective in the developed countries as anything either first hand or second hand can be traded. It has given an opportunity for every person to become a seller! This is all because the online advertising works and in a way that was never thought or dreamed of before!

Calling online (whether social media or any other type) marketing a waste of money is outright incorrect!
Say that to GM .. they just recently pulled down a million dollar ad spend from facebook. That too when its IPO was about to hit. On a side note, have you seen how facebook stock is performing? Its going down hill.

I think social media is a bubble as it does not track ROI and the only people who get richer are agencies and college kids running those agencies or working in those agencies.
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Re: Is digital marketing a waste of Money?
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Prem Gaire
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Re: Is digital marketing a waste of Money? - June 2nd, 2012

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Originally Posted by farhanak.manage View Post
Say that to GM .. they just recently pulled down a million dollar ad spend from facebook. That too when its IPO was about to hit. On a side note, have you seen how facebook stock is performing? Its going down hill.

I think social media is a bubble as it does not track ROI and the only people who get richer are agencies and college kids running those agencies or working in those agencies.
Perhaps you know that GM will continue promoting its product (means advertising) through its Facebook Page for FREE!! Who on earth pays money when the thing can be done freely?

Moreover, you can't judge the performance of Facebook Advertising by evaluating the opinion of a single (to a few) company(ies).
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Re: Is digital marketing a waste of Money?
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Farhana Khan
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Re: Is digital marketing a waste of Money? - June 2nd, 2012

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Originally Posted by bbageek View Post
Perhaps you know that GM will continue promoting its product (means advertising) through its Facebook Page for FREE!! Who on earth pays money when the thing can be done freely?

Moreover, you can't judge the performance of Facebook Advertising by evaluating the opinion of a single (to a few) company(ies).
You cant judge performance of facebook advertising. Full stop. Social media is not a revenue function. It is a customer service expense.
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Re: Is digital marketing a waste of Money?
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Prem Gaire
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Re: Is digital marketing a waste of Money? - June 5th, 2012

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Originally Posted by farhanak.manage View Post
You cant judge performance of facebook advertising. Full stop. Social media is not a revenue function. It is a customer service expense.
I am not Zuckerberg and I don't have any intention to convince you that FB advertising works! But I'd say this anyway that you have to check it out yourself to see if that works or not!

For the advertising to be successful the product should be marketed with the right audience and in a right way!

And I don't think all TV advertising work perfectly. I have no example but you might have one. Please share it with us if that is the case.
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Re: Is digital marketing a waste of Money?
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Farhana Khan
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Re: Is digital marketing a waste of Money? - June 8th, 2012

Quote:
Originally Posted by bbageek View Post
I am not Zuckerberg and I don't have any intention to convince you that FB advertising works! But I'd say this anyway that you have to check it out yourself to see if that works or not!

For the advertising to be successful the product should be marketed with the right audience and in a right way!

And I don't think all TV advertising work perfectly. I have no example but you might have one. Please share it with us if that is the case.
TV is not social media, its a different medium altogether.

Look at facebook price on stock market, you will see why facebook advertising is going down.
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Kulin Choksi
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Re: Is digital marketing a waste of Money? - June 8th, 2012

Hi Farhana....Barring your advertising debate i would like to opine my point only on the stock price part which is the price of facebook on stock market has nothing to do with its advertising....the stock price of facebook is down on following reasons:
1) The valuations were not justified for FB at $100 bn,
2) There was a lot of confusion during the listing of the stock on NASDAQ, Clients who had bought at 38 got at 42 and stuffs like that,
3) In the whole process of listing the mobile revenue for FB has been a question mark for the coming years hence fundamentally its goings down,
4) Lot of angel investors and institutional clients had shorted at 42 while the whole confusion was going on NASDAQ,

To Conclude... the point is there is a lot of speculative trading which happens during the initial days of the listing of a stock and especially going with such a hype it occurs at a bigger stage, fundamentally few questions have been raised about the company's revenue mode going forward. But as an investor they should always look at a stock price at the 0 day of the listing then the 30th day then the 90th day and then the 365th day....this would comprise all your speculative activities and barring that would come out either a fundamentally sound or unsound stock with its price.

Cheers!!!
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Re: Is digital marketing a waste of Money?
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Prem Gaire
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Re: Is digital marketing a waste of Money? - June 8th, 2012

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Originally Posted by farhanak.manage View Post
TV is not social media, its a different medium altogether.

Look at facebook price on stock market, you will see why facebook advertising is going down.
That's why I brought the TV into discussion. Don't you mean that other media advertising perform well by saying that social media don't work? I just tried to prove that opinion wrong. If other medias aren't better then there's certainly no reason to blame Facebook!
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