As a business leader, you will understand the importance of marketing your business. The more people who hear about your product or service, the better, as you will experience greater profits.
In today’s modern age, you have a choice between two marketing types.
- Traditional marketing
- Digital marketing
To stay relevant, many business leaders are turning their attention towards digital marketing. But does that mean traditional marketing methods are no longer effective?
Let’s have a closer look at the two types of marketing.
What Is Traditional Marketing?
Before Facebook, Instagram, Twitter, and online review sites took the internet world by storm, businesses were reliant on those marketing techniques that are now considered ‘traditional.’
- Print Marketing: The placing of advertisements and product placements in newspapers and magazines.
- Broadcast Marketing: Spoken advertisements on the radio and television.
- Telephone Marketing: Cold calls and text messaging
- Direct Mail Marketing: The use of snail mail to reach new and existing customers
- Outdoor Marketing: The use of flyers, billboards, and posters to grab the attention of others.
These marketing methods are still being used by businesses today, but there are pros and cons to each.
Print marketing can be effective, as people still read newspapers and magazines. However, the cost of placing ads or paying for product placement can be expensive.
Broadcast marketing used to be an effective way to reach the masses, but because people now have the power to fast forward through TV ads, and because online streaming is starting to overtake network television, it might be that this style of marketing is not as cost-effective as it used to be.
Telephone marketing is becoming less effective because many people are resistant to cold callers. While telephone marketing might still be used when a relationship has already been built with a customer, it might be that it shouldn’t be used when reaching new customers for the first time.
Direct mail marketing is an effective way to reach those older customers who are not internet-savvy. On the flip side, those people who are resistant to junk mail might be more than a little annoyed by those businesses who continually funnel mail through their letterboxes. Direct mail isn’t very eco-friendly, either.
Outdoor marketing is one of the oldest forms of marketing and it is still effective today. With ample opportunities to advertise, from the placing of roadside billboards to posters at bus terminals, businesses can still push their products or services. But while flyers and posters are relatively cheap to produce, billboard placements can be expensive, so business leaders will need to take stock of their finances when advertising in this way.
Traditional marketing isn’t dead, but because of the expense, and because certain types of traditional marketing are no longer as effective as they used to be, it might be that business leaders should focus more on digital marketing when planning their promotional strategies.
What Is Digital Marketing?
Thanks to the internet, businesses are now in a better position to research their demographics, advertise their products and services to the masses, and make financial savings when marketing.
Digital marketing techniques include:
- Social media marketing: The use of social media platforms to build brand image, advertise products and services, and to drive website traffic.
- Search Engine Optimisation: The art of increasing website visibility on search engines.
- Paid Search Advertising: An effective way to reach customers when they’re using search engines such as Google or Bing.
- Email marketing: A cost-effective way to reach new and existing customers quickly
- Affiliate marketing: Using your customers to promote your business across the social media channels they use.
This list is not exhaustive, as there are many other digital advertising methods that could be used by your business. However, no matter what digital route you go down, you will experience the following benefits over traditional marketing methods.
Digital marketing is cost-effective
You can substantially reduce advertising costs, as many digital marketing methods are free to implement. And for those that do cost money, you will make a huge return on your investment as you have a better chance of gaining new customers using the online channels that can reach the masses on the internet.
Digital marketing is easy to measure
You can quickly and easily ascertain the success (or otherwise) of your digital marketing campaign, as you have a number of useful online tools at your disposal.
Digital marketing can be global
Using the digital advertising methods at your disposal, you aren’t confined to geographic boundaries. You can market your business all over the world, at little or no cost.
Digital marketing provides greater scope for customer engagement
By making the relevant changes to your website, you can hold the customer’s attention for longer. And by using the communication tools at your disposal, such as webchat, chatbots, and Facebook messaging, you can connect to your customer and answer any questions they have before they leave you for one of your competitors.
Digital marketing is good for your brand image
Cold calling and the use of junk mail are two traditional marketing techniques that could hinder your brand image. However, a well-developed website, a strong blog post, and a handful of positive online reviews could build your company’s brand and make you more attractive to new customers.
These are just a few of the advantages that your business can expect when opting for the digital marketing methods that are available to use today.
Will Digital Marketing Replace Traditional Marketing?
Traditional marketing still has a place in the world, so it shouldn’t be dismissed in its entirety.
However, digital marketing has fast become the go-to marketing technique for business users, and not only because it is cost-effective and environmentally friendly. They market in this way because more people than ever before are using the internet, and according to statistics, over half of the internet users around the world are going online through their mobile devices.
Marketing is about reaching the people where they are, and right now, many people are outside your window with their hands and eyes glued to their mobile phones. Take a peek outside if you don’t believe us. So, while traditional marketing isn’t dead, it is important to know that most people access the information they need online, and for you as a business owner, this needs to be taken into consideration when planning your marketing strategy. While you should still consider traditional marketing techniques, for the time being at least, you should place most of your focus on digital marketing.
To learn more about what digital marketing can do for your business, and for help with your next digital marketing campaign, get in touch with us today. As industry experts, we can help you make the most of the digital advertising techniques that can be implemented within your business.