Marketing encompasses the entire business — head, body, and toes – as seen through the eyes of the consumer. This is why, as your marketing improves, you will sell more and get more devoted consumers.
However, it is not only about marketing. The key is to select the most appropriate and relevant marketing approach and channel.
Businesses nowadays must choose between two major marketing platforms and strategies: digital marketing and conventional marketing.
Deciding on the ideal marketing strategy for your company necessitates an understanding of each channel, how each approach works, and how they may be combined. To do so, you must first grasp the distinction between digital and conventional marketing.
WHAT EXACTLY IS TRADITIONAL MARKETING?
Traditional marketing is the earliest type of marketing in company.
The original marketing is traditional marketing. It employs traditional (offline) marketing methods that often include advertising and promotional material in order to reach a semi-targeted audience.
Traditional marketing tactics were the sole means for firms to reach out to their target audience until the internet came along in the 1990s.
Traditional marketing is classified into five broad categories:
- Print (newspapers, magazines, brochures, etc.)
- Broadcast (radio, TV, etc.)
- Outdoor (fliers, billboards, banners, etc.)
- Direct Mail (postcards, catalogs, etc.)
- Telephone (SMS marketing, telemarketing, etc.)
The fundamental components of marketing today rely primarily on traditional marketing strategies that have stayed consistent throughout time. They are as follows:
Every successful firm recognizes the need of developing a good sales funnel through the use of a marketing strategy – and these components of conventional marketing continue to dominate. Using these four Ps, any company can guide its clients and prospects through any sales funnel and achieve positive outcomes.
WHAT EXACTLY IS DIGITAL MARKETING?
Simply said, digital marketing is any type of online marketing (on the internet). It is the marketing of products or services via one or more types of electronic information and media (digital channels.) The following are some examples of digital marketing channels:
- Company websites
- Social media tools (Facebook, YouTube, Twitter, Instagram, Tumblr, etc.)
- Online or electronic Billboards
- Email marketing
- Mobile gadgets (phones, laptops, tablets, etc.)
Because of the technical advancements that the world has seen, digital marketing has exploded in popularity. Consumer culture and behavior have shifted as a result.
As the globe continues to grow increasingly digital, so does the market. Digital marketing looks to be more cost-effective and gratifying than traditional marketing since it is becoming a more direct means to interact with target consumers across the world.
With the ongoing growth of Social Engine Optimization, for example, the cost and rewards of organic searches continue to rise. Promoted tweets and Facebook posts, influencer travel, SEO, and Tasty videos are all instances of how broad digital marketing can be.
To distinguish between traditional and digital marketing strategies and assess their success, examine the following differences:
Traditional marketing involves ongoing expenditures, which can make it costly and may not provide a decent return. An ad in the local newspaper or on the radio or television will only be worthwhile if it reaches the intended audience on the day it is broadcasted or published. What are the possibilities of that happening?
Any extra outreach may need a re-run of the print or broadcast campaign, necessitating additional expense.
Contrast this expenditure with content marketing, which you generate once on your website and may utilize for months or even years at no further expense. Digital marketing has the potential to be less expensive.
Traditional marketing requires a more personal approach since the marketer must establish a one-on-one relationship with the audience.
There is no need for a person-to-person interaction in digital marketing because all meetings take place online. The marketer, on the other hand, must maintain a considerable level of online presence in order to boost its image in the minds of the audience or customers.
The intended audience
Every marketing plan is tailored to a certain audience.
It is simple to reach out to the local audience or consumers in the conventional market. You must first define your target audience and then position marketing messages (through a channel) in places where your target audience may readily see, hear, or interact.
It aims to reach a large number of people/customers. Use newspaper ads, billboards, radio ads, or television commercials, for example.
Digital marketing has a broader reach. To reach a worldwide audience, digital marketing is enabled online. It employs organic or sponsored content and advertisements on search engines and social media, as well as email marketing, video marketing, and influencer marketing.
Interaction and involvement with customers
Traditional marketing provides minimal connection with the audience since marketing media are not flexible enough to allow for consumer interaction. The audience is left to see, hear, or read about the marketing message without being able to quickly provide feedback.
Engagement and interaction are facilitated by digital marketing. Customers may simply provide feedback in the form of product reviews, buyer experiences, testimonials, and so on. This enables the firm to quickly collect consumer feedback and include it into their statistics.
The ease with which outcomes may be measured
Traditional marketing results are difficult to quantify. You never know how far your marketing will go when you distribute leaflets, give out pamphlets, or advertise in newspapers or magazines.
Digital marketing makes it simple to track outcomes. Instead of going blind-eyed, you get a clear-sighted marketing strategy. To understand where you’re headed, you have access to a wealth of information on your clients and prospects.
For example, you will know how many people visit your website and how many people view your video.
WHICH ONE SHOULD YOU SELECT?
The key to a successful marketing strategy is striking a balance between digital and conventional marketing.
Can they collaborate? Without a doubt.
In 2021, digital marketing will be a valuable supplement to traditional marketing. Both are critical components of a marketing plan. However, when you employ both at the same time, your firm will benefit more.
Coca-Cola and Guinness are two fantastic examples of how they have managed to retain both digital and conventional marketing with the correct mix to reach both sorts of consumers.