Every business could use a good marketing strategy, and choosing between traditional or modern means of marketing can either put you behind or ahead of the competition.
In this article, we will look at the ins and outs of traditional marketing and digital marketing, so you can choose which avenue would best suit your business.
To start things off, let’s define what each marketing strategy means.
Traditional marketing is an approach to promoting your business and selling your products using conventional channels such as billboards and other printed media. We’re talking about newspapers, magazines, and marquees.
On the other hand, digital marketing (or online marketing) uses contemporary channels to spread brand awareness and increase your chances of finding the right market with digital channels including social media platforms and websites.
Now that you know how each strategy operates, let’s look at three important factors that can help us gauge how effective each strategy is:
- Market Segment
- Conversion Rate Tracking
- Return on Investment (ROI) Accuracy
As we briefly covered above, traditional means of marketing make use of the usual media channels that we grew up with. Here are some examples.
Billboards are a good example. They are large, loud, and can definitely catch the attention of potential customers allowing businesses — like yours — to increase their brand’s presence.
However, it can only reach geographically targeted customers who drive and pass by the location where the billboard was put up. Tracking conversion rates can also be challenging as businesses have no means of finding out how many customers called in or bought their product because of the outdoor display.
Meanwhile, ROI accuracy can be easier to capture as business owners would only observe if there is a spike in their sales figures after they launched a billboard campaign.
2. TV and Radio
Other traditional channels include TV and radio, which can reach more potential customers. Squeezing in TV commercials in primetime shows can increase your chances of reaching more audiences and expanding your market segment reach.
Tracking conversion rates can be easy as long as you play it smart. Most companies give out codes to help them determine whether their media campaign is working.
Most businesses calculate ROI accuracy with the help of their media partners.
3. Magazines (and other printed media)
Lastly, you have magazines and other printed media. Unfortunately, because of the rise of digital media and SEO, this traditional marketing approach began reaching fewer people. Its market segment reach is limited to those with subscription services or those who are in the habit of catching up through newspapers and magazines.
Tracking conversion rates and ROI accuracy is similar to television and radio marketing as companies would be working with a media partner (publication company).
Online marketing gives businesses a different playing field. Some of the biggest opportunities lie in advertising through social media sites like Facebook and Instagram. Putting up your business in Google can also boost your chances of succeeding apart from social media marketing.
Statistically, over 2.8 billion people are actively using Facebook globally while browser searches in Google reach two trillion registers per day. This means a huge potential in reaching an even bigger audience for your business.
Blogs are also a good way to advertise. There are various companies that can help you create content that’s optimised for SEO. Search engine optimisation or SEO marketing can help your content rank on search engines, like Google. Having your website reach a higher rank in search results and search engines can help your brand be visible in front of more eyes.
In addition, digital marketing gives business owners the option to market to a targeted audience. Factors like demographics, psychographics, behaviours, and interests play a huge role in the marketing algorithm. With this, your marketing campaign reaches the right people who might be interested in the services and products you are selling.
Most digital platforms for marketing also have automated systems that can help calculate your conversion rate and ROI.
That said, many of today’s business owners and upcoming entrepreneurs opt for a contemporary-based marketing strategy.
Talk to the Experts
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We are considered experts in the field of digital advertising and can support you with your marketing goals for your business.
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