Digital marketing v/s Traditional Marketing- Pros, Cons and a View from the Top!
Why traditional marketing is making a quiet exit
Before we can cut open this thing, let’s first examine the premise of this whole argument. We’ll begin with a definition of marketing and the basics of why it is such an important tool for businesses and people.
Theoretically speaking, marketing is a way of presenting of a brand to an end user, with an aim to sell the brand. Sounds easier said than done, isn’t it? Here’s where it gets a little rough-Marketing does not merely mean placing the product/ service in the market and waiting for the customer to waltz right in, on the contrary, it means defining the target customer and market, conducting a survey to understand the consumer and using tools and techniques to analyse his behaviour. This data would give you some solid conclusion about how the marketing pitch should be and how you should go about it.
A good marketing pitch fulfils the customers need precisely by providing what he wants, when he wants and wherever he wants it.
The premise of traditional marketing
Traditional marketing comprises of print ads in newspapers,periodicals and magazines, billboards, direct mail, business cards, posters, trade shows booths, TV and radio commercials and printed paraphernalia such as brochures or leaflets.
These were effective mediums until the advent of the internet and they are perhaps somewhat relevant even today, as a miniscule part of a brands marketing strategy. However, traditional marketing has had its run and is now perhaps approaching the last mile of the race.
Does this medium still work?
To fully appreciate how digital marketing has overpowered the traditional medium, lets look at it from a different angle; think of it this way, do you still carry the same cell phone you purchased 10 years ago? Or do you still drive the same vehicle that you had purchased aeons ago? Most likely not. Traditional marketing is somewhat similar to that outdated cell phone, namely it has a limited audience, it is static and there’s a time lapse in the communication. Not to mention it is expensive and manages to reach only a local audience.
The premise of Digital Marketing
Facebook, Twitter, YouTube, Google, LinkedIn and many other Social Medias have emerged as the transformational new digital marketing tool. What’s more, these media have seamlessly integrated into our everyday lives and it can be said that nearly all of us are connected all of the time. There’s a real time impact on the personal and professional lives and this has taken a whole new dimension for corporations establishing their brand presence on the digital stage.
Many organizations are in the process of scratching out traditional marketing and opting for complete digital advertising campaigns. To what result you may ask? Research statistics suggest that organisations that have opted out of traditional marketing fall somewhere in the bracket of 140-160%, whereas expenditure on digital marketing increased over 14%. And its not just advertising that is affected, the digital medium has intrinsically changed the way businesses work as well, for example, Newsweek, a well-known magazine brand has switched to a digital publication.
The challenges faced by a digital marketer today are evolving,dynamic and tangible in real time. Smart digital agencies fully utilize the given mediums, engage and interact with the customer with fresh, relevant content, calibrate campaigns if needed and do it at a fraction of the cost as compared to traditional marketing methods.
Digital campaigns are increasingly becoming more and more targeted; most times it’s almost as if the messages were tailor-made for us. Not surprising, considering that data is measured and optimised for individual users. The trick is to understand the end users behaviour on individual platforms; a Facebook user is entirely different from the one on YouTube. Social media marketing campaigns cleverly engage and build audiences by becoming a part of the conversation. Trending news, pictures and anecdotes are shared immediately and go on to build a larger brand image. Needless to say its the final word in the marketing world today.
Return on Investment is a measurement that is used to evaluate the efficiency or profitability of your investment. To put it in simpler words, it is used to directly measure the amount of return on a particular investment. It is one of the most popular metrics used by businesses worldwide to measure the performance of an investment. More people prefer Return on Investment as a reliable metric because of its simplicity and versatility. The calculation will not be complicated and it can also be an efficient rudimentary gauge of an investment’s profitability. It can be used to calculate returns from other investments, thereby allowing on to measure all types of investments involved in business and transactions involved in it.
Digital marketing is one of the ways in which you can boost the business sales like never before. Having said that, considering how reliant everyone has become on digital marketing, it is all set to rule the future. Here is why –
- The extent to which people these days are using the internet throws light on how increased internet usage would be in the days to come.
- Digital marketing is an excellent way of building brand awareness among people.
- All the digital marketing strategies put forth by the companies can be monitored as well. The expectation vs. reality picture becomes way clearer now. This further helps in opening up doors for improvement, if any.
No. Digital Marketing and Digital Branding are different from each other. Digital Marketing focusses on promoting a particular product or service, highlighting its benefits and how useful it would be to the consumers. Digital branding on the other hand is much more subtle and highlights the personality of the company or brand as a whole. Products and services will come and go. Digital marketing strategies will change to suit the seasonal needs or are tailor made for the product in question. However Digital branding is like a long tern digital marketing strategy to bolster the reputation of the company. It communicates what are the core values of the company and what they do to upkeep those values to give the best customer experience.
By now a lot of businesses have realised the importance of good web design. However there are some important principles that need to be followed to ensure that your website turns out perfect.
- Ensure the website loads fast, as this reduces website abandonment.
- Show your intent on every page so customers landing on any page are aware of what your business does.
- Keep it simple so you don’t distract visitors from their purpose, with too many elements.
- Make the navigation as easy as possible, with any part of the website accessible in 3 clicks.
- Maintain the hierarchy in the layout. You don’t want your customers to keep scrolling back up each time they want to refer something.
- Use simple, attractive and value adding content that can convince visitors into becoming customers.
- The site must be mobile friendly for customers to access it on the go.
Your website is the first impression that an online customer gets of your business. It is important to make a positive impact on your clients. The website design has the potential to convert a random visitor to a customer and boost organic sales. A great web design will keep customers loyal to your brand as they find the platform comfortable and convenient to use. It provides a good UI/UX to your clients and nurtures your leads. Better the website design, more the engagement with it, bringing in more traffic. It improves the accessibility of your website to a wider audience. It has a significant influence on the brand image and it is important that you get professionals to design your website.
It has come to a point that a business is only considered successful if they have a strong online presence. This is evidently done by creating a dedicated website to the brand. The benefits of owning a website for your business are,
- A credible repository of information on your business
- 24 x 7 customer access to your business
- Boosts interaction with the brand
- It helps expand your market reach
- It improve brand awareness to a global scale
- Provides you with valuable consumer insights
- Helps you beat other competitors with online presence
- Access to all digital modes of advertising
- Makes information exchange easier
Digital Marketing has become an essential part of today’s business world. It has become so competitive that traditional marketing methods are no longer as effective as before. Digital marketing can improve your conversion rate, boost traffic to the site, keep your customers engaged, helps you understand the market and customers with valuable insights, increases your reputation, and is generally cost effective. Most of your online customers are using their mobile phones to access your site. Digital marketing helps make your business more accessible to mobile users, who make up nearly 60% of the clientele. It makes the entire customer journey more interactive and memorable, bringing you loyal customers, who come just for a good user experience. Digital marketing can also be automated, freeing you from the hassle of keeping track of the campaigns.