Suppose you own a brand, and you are in a dilemma whether to implement conventional or modern marketing tactics into your business. The onslaught of digital marketing has opened several opportunities for marketers to sell their wares on various digital platforms. It has pretty much left traditional marketing obsolete. Or has it?
If digital marketing has enabled ads to reach its audiences extensively, and quickly, traditional media still commands the credibility associated with the platform for long. Since you are torn between these two mediums to use in your marketing strategy, let’s weigh the pros and cons, stats and analyze which of this marketing tactic is more beneficial for the advertisers.
Budget is a crucial differentiator that bothers entrepreneurs and business owners. Marketers will incur a great deal of expenditure with traditional media such as newspapers, flyers, TV, radio, etc. In contrast, digital media can get the best results at a fraction of the cost spent on traditional media. Marketers, eventually, want to use a useful tool that guarantees rewards and outcomes at a reasonable price.
Digital marketing generates immediate and instantaneous reactions from visitors, which kindles a chain reaction among the masses. However, there is a lag with traditional marketing as stimulating a viewer response or gauging the customer feedback takes time, after the content is first aired, heard, or viewed. Brands can take actionable steps in the case of digital marketing quickly as opposed to traditional marketing.
A marketer invests his capital in and builds tailor-made marketing strategies only when they foresee the assurance of the benefits the brand receives. Digital media can offer real-time results that are very helpful for a business owner or an entrepreneur to get an insight into the likes and dislikes of the customer. Traditional media (Newspapers, community radios, etc.), on the other hand, can seep down into the lowest level as possible and can reach the remotest areas. Therefore market segmentation is crucial to reach out to the niche audience and get maximum visibility for the brand.
Exposure and Engagement:
Marketers and advertisers rely on interactivity for building a personal connection with customers. Digital media can create buzz and directly connect with the brand customers, thanks to its competence to help customers debate about trends, engage in discussion, respond comment, share, and like. It is this quick reaction from the public that allows advertisers to have a casual bond with the customer and enhance brand presence.
Advertisers or marketers can measure the efficiency of their campaigns in digital marketing as opposed to traditional marketing. They can use Google Analytics to measure campaign efficiency, conversion rate, inbound traffic, bounce rate, profit, etc. pretty much in real-time. With traditional marketing, it is rather tough to gauge the audience’s response or customer feedback.
To conclude, digital marketing is definitely the way to advertise as a small business as against traditional marketing. Marketing is a business’s indispensable tool to target the right audience. With digital marketing, there is little risk and high reward.
That does not mean traditional media needs to be junked. Despite all the glitters of digital marketing, the foundation that conventional media has laid cannot be uprooted. But using a marketing strategy comprising both digital and traditional marketing would yield much higher tangible rewards to any business.