Marketing has a huge impact on every business though it is tough to decide what is the best marketing strategy to increase business.
We all dream that our company should stand out from competition for a profitable and lucrative business. The world marketing perspective is changing. In every field of work, technology is overtaking our conventional systems. Now the digital marketing strategies are more important than ever.
Before discussing the heart of the matter, let’s understand the fundamental concepts.
New School vs Old School
Traditional marketing is a plain vanilla marketing methodology that is being followed by many people worldwide, and we have all encountered this method at some point. It is a standard offline method of marketing that is used to engage the audience with various promotional and ad tools like- banners, flyers, billboards, telemarketing, television ads, etc. People with different interests and domains can see these ads whether relevant to them or not. So, the audience is not explicitly targeted in this case. This methodology is the main source of income for many industries like television, sports, newspapers, etc.
Traditional marketing is quite difficult to neglect as it is part of all our daily offline life interactions.Let’s review the five main categories.
Print media (newspapers, books, magazines, posters, etc.)
Broadcasting industry (Television and Radio are the main sources)
Postal Services (catalogs, brochure, etc.)
Telephone (SMS marketing, outbound marketing campaigns, etc.)
Outdoor (banners, billboards, flags, etc.)
High-speed internet and increased people engagement toward social media platforms and other online spaces have opened the new doors of digital marketing. The marketers and entrepreneurs have seen the opportunity and now primarily use these platforms to engage customers. Due to COVID-19, which resulted in a worldwide lockdown, new precedents like social distancing, the online transformation of brick-and-mortar businesses have increased the value and need for digital marketing. Moreover, the huge data-set available online helped tech giants to make intelligence systems that can track a specific audience that may be interested in your product or vision. This clearly shows when we are comparing traditional vs digital marketing, digital marketing has many inducements that make it better from traditional marketing. The following research shows how digital marketing is lucrative for businesses.
When someone likes to buy a product or service, 80% of the people search into the specs and feasibility of the item before buying.
60% of 254 million adults in the USA use Facebook online daily.
LinkedIn is the tool used by 94% of B2B marketers.
In 2019, 70% of digital marketing ad providers are generating their sales.
More than 90% of B2C businesses accept that social media is the most productive method for marketing.
Irrespective of the business you deal with, you must have understood the significance of digital marketing with deliberation. Else it may impact the competition and could result in losing out the competition in the digital marketing competitive environment.
Where to spend your hard-earned dollars?
If you deeply analyze the contemporary market around the globe, digital marketing has made a space where all types and sizes of businesses are using it for their advantage because it is inexpensive compared to conventional marketing approaches and you will have a more sorted and specific audience by age, location, interest, etc. Traditional marketing can provide brand awareness, but digital marketing will turn your ads into leads.
In traditional ads, once you have printed the information it cannot be edited. With digital ads, you can make changes at any time. You can even reselect your target audience and republish the ad at any time. So, real-time maintenance of your ad campaigns is very simple and easy. Not only that, but you can also see how many people reached and how many converted. Based on this you can customize your ad campaigns accordingly. The bottom line is you have more control over the ads and provided with more in-depth analytics that can improve your business a lot.
#1: Higher Degree of Audience Engagement
The traditional marketing approach does not have any direct approach with the audience or cannot offer conversion in real-time, whereas digital marketing strategies provide the audience with a higher level of conversions and interactions. Whether it is through social media comments, on-site contact form or chat section, your customers are in contact with you one way or the other instantly.
You can keep engaging your audience through videos, webinars, or promotions to address both new and returning customers.
You can improve your business based on the review provided by your audience. Digital marketing is very helpful and effective as customer reviews help you improve your business and it is quite easy to solve any issue faced by your customer in the fastest way possible.
#2: Ease of Estimating Results
When it comes to traditional marketing, there is no measuring methodology available to date that could help you know how many people were reached or what was the impact of your campaigns in real-time or accurately. When you distribute brochures, display banners, and billboards, you are not sure how successful you are going to be. It might be possible all you did was in the hand of the wrong audience.
However, in digital marketing, all the statistics are in front of you. Whenever you start an ad campaign, all the statistics are in front of you. You know where the audience is and how they are interacting with your post.
#3: Increased Visibility
Traditional marketing strategies are limited. The biggest limitation is that you cannot move beyond a local or regional audience. Moreover, you cannot target the exact age group or people with specific interests. Even if you manage to go beyond the regional audience, it is very expensive and lesser guided.
In digital marketing, the campaigns are very specific and exactly targeted to the right audience, no matter what part of the world they are living in. So, this gives you a borderless environment and liberty to directly address your audience.
#4: Inexpensive & More Productive
Digital marketing has changed the whole perspective of marketing. In business, ROI determines how profitable your overall campaign was. For this, there is not any doubt that digital marketing exceeds all the aspects and measures as compared to conventional marketing.
Digital marketing is cheap, specific, customizable, and easy to analyze. These qualities make digital marketing the best tool for marketing.
So, this is clear and simple, no-one wants to have low ROI. Moreover, no one wants to follow blind-folded. So, digital marketing gives you detailed and specific information concerning the amount you have invested in your ad campaign.
Decision Making: Traditional Marketing vs Digital Marketing
Digital marketing is surely the winner of this comparison. Both have their advantages over the other but according to the rule of thumb digital marketing is taking over traditional marketing. That can be seen clearly on social media. Now big giants are also selling using digital ad campaigns over the social networking websites to earn more.
Digital marketing is the fourth industrial revolution of traditional or conventional marketing strategies. New technologies based on Artificial Intelligence are integrated into digital marketing to get the ads more specific and accurate. So, the bottom line is traditional marketing may help your business get known as a brand, but for the conversion and accuracy, the qualifies digital marketing in every aspect.
