Regardless of which field your business specializes in, establishing the right marketing strategy will always put you on the right track towards long-term success for your company. Getting the best resources, employing the best strategies, and hiring the best marketers and social media experts are just some things that you should invest in to ensure optimum results in the long run.
When it comes to marketing strategies, there are two general types that most businesses use today: traditional and digital marketing. Although the latter uses new and more cost-efficient techniques, traditional marketing also has its own advantages that make them still relevant even in this digital age.
To help you decide on which marketing approach you should use for your business, here are some things that you should know about traditional marketing and digital marketing.
The most striking difference that sets traditional marketing apart from digital marketing is the placement of advertisements. Traditional marketing uses conventional media which most of us are already familiar with. These include newspapers and other print media, television and radio, catalogues, billboards, and telephone and SMS marketing. Digital marketing on the other hand involves promotions staged on various social media platforms, email marketing, and content marketing among others.
When it comes to the overall costs, digital marketing may have an advantage over traditional marketing. Advertising on social media platforms come at lower costs and, at times, some basic features are offered to users for free. Digital marketing can deliver cost-efficient solutions for your advertising needs, covering a wider reach and targeting your audience with accuracy. In simple words, digital marketing takes the lead in providing a faster and long-term return on investment.
In terms of engagement leading to actual purchase of products and services, traditional marketing gains a slight edge against digital marketing. This advantage is even more amplified in personal interactions where businesses usually receive more trust from their clients and acquire precise feedback in real-time. But with the emergence of new technologies, digital marketing is slowly catching up with traditional marketing. Computers are now more capable of generating comprehensive insights about consumer behavior and companies are also quick to adapt in providing the best experience to their clients even when face-to-face interactions is not possible.
Tracking the results of a marketing campaign is also different between traditional and digital marketing. In traditional marketing, you usually need to arrange a meeting with your service provider wherein they can discuss the results and provide insights and recommendations. Traditional marketing also has a lag time between the start of advertising and the moment where the actual responses are made. With digital marketing, data analysis does not take that long and the results are always made available and are updated almost in real-time. There is also a wide-range of tools such as Google Analytics, and other social media analytics that can help you draw insights from the results easily.
Now that you know the differences between traditional and digital marketing, you should be able to devise the best strategy for your marketing campaign. Just remember that you are not limited to these two options and that you can combine the different strategies to get the best results for your business.