Every successful business person knows that marketing is essential to building a brand, getting new customers and making a profit last. But, marketing is no longer the machine it used to be. These days, the marketing machine is bigger and more complex than ever. So when it comes to marketing, if you are focused purely on traditional marketing, you are screwing up and missing out on an essential part of the new marketing machine. What’s the difference?
Traditional marketing, called traditional because it’s so old, includes print media, broadcast media, direct mail and telemarketing.
When looking at costs, the truth is traditional marketing can get a little pricey. Costs for direct mail, billboards, television ads, magazine ads, etc. can quickly add up. Plus, you have no way of truly knowing how effective these traditional marketing campaigns are for your business, which means you cannot truly know what your Return On Investment (ROI) will be. But we’ll talk more about comparing the cost of traditional marketing and digital marketing in a bit.
With traditional marketing, accessibility is limited to the people you place your advertisements in front of. Sure, television ads will reach a lot of people. But did you know that more people are spending time on their smartphones than they are watching TV these days? With the introduction of Netflix and other online streaming platforms, people are skipping the commercials altogether. So what’s the alternative?
On the other hand, digital marketing is the new kid on the block. Digital marketing platforms include websites, social networking sites, content marketing, banner ads, Google ads, and video marketing.
Traditional marketers admit that digital marketing costs less than traditional marketing. You cannot compete with the Internet’s potential to reach thousands of people with a single post, and you cannot compare that to the amount of money it takes to run a print advertisement people may or may not pay attention to. But we will try.
Not only is digital marketing less expensive than traditional marketing, but you can also easily track your marketing price and results, making it easier to find that ROI you want in business purchasing decisions. This ability to track your digital marketing campaigns include measuring the traffic to your site before and after a marketing campaign, the level of engagement on your social networks and how many of those people are converting to the website, the people visiting your blog to see if they are reading or bouncing, and much more.
The beauty of internet marketing is that you can easily track your success and ROI on individual marketing efforts and entire marketing strategies. Something that is more of a guessing game in the traditional marketing world, and something that requires less cold calling and door knocking.
Digital marketing takes accessibility to a whole new level. Considering mobile is the new leading medium around the world (even trumping TV), more people are online than ever before. The goal is to reach consumers where they are most likely to be, and these days, it’s on their mobile devices online. Four out of five mobile phone users will shop online, and three out of five mobile users pay attention to mobile ads that pop up in their social media feed. All that is needed to capture this large audience is internet marketing training or a digital marketing company to help you out.
What to do with Your Marketing Efforts
Should you apply both traditional and digital marketing techniques to your business? It all depends on a variety of factors, including industry and budget. But, when it comes down to it, every business is different and will require different marketing techniques to reach the most people and get the most ROI for their marketing efforts.
When thinking about the type of marketing strategies you want to try for your business, consider the following:
- Choose a medium that is more cost-effective for your business
- Pick a strategy that gets the most reach (the best bang for your buck)
- Use a platform that gives you tangible data with direct response
Marketing is essential for successful business, but every business will require different marketing efforts to be a success. If you are interested in upgrading your marketing efforts and don’t know how to get started, contact a digital marketing agency like Post Launch. Get a free consultation with our team of marketing and SEO experts, and we will help you develop a marketing plan that works for you, your budget and your business.