- An IT enterprenuer was under impression that Digital Marketing is expensive, and not for every small business.
- A real estate company just went with half page paper ad, just because everyone else doing it!
- A very successful export company is sponsoring events, expecting branding & sales, and met with no return!!!
- An event industry business is operating without a website, and in business for over two decades!!!
Surprising to see these successful businesses are not aware of what’s best for them from available marketing channels. Many want more sales, without right marketing efforts.
What forms of marketing should you use to drive customers towards the actions you want them to take upon ? For most, the frequent dilemma is to go whether for traditional or for digital.
There is a good amount of thinking goes behind every successful marketing campaign, in terms of Segmentation of target audience, Targeting and Positioning of product or service ( STP).
In this post, we briefly touch upon Traditional as well as Digital Marketing, and about what an effective marketing strategy constitutes.
Traditional marketing concentrated on the 7Ps : Price, Product, Place and Promotion, People, Process, Physical Evidence.
New Age Marketing
The term “digital marketing” did not even exist 10-15 years ago! Internet has redefined the way businesses interact and communicates with customers. Online campaigns have innumerable advantages, and helps where traditional market has limitations.
reach : now businesses can reach globally, and can target any specific location, can have access to any niche market.
scale : a well planned campaign, can be scaled to any extent, in no time.
interactivity: Days of guessing are gone, and now you have chance to directly interact with your prospects and understand them much better.
immediacy: (24×7, leads/ closing sale ) -> consumer buying cycle speed-ed up: a purchase used to take days and months, can now happen in seconds with couple of seconds, thereby reducing buying cycle time.
affordability: for both smallest to the biggest companies.
Leveraging Remarketing on Google display network helps to chase your prospects around the internet.
Traditional vs Digital Marketing
Many companies are stuck to this kind of this versus that, and it’s valid to a lot extent. Most differences lie in, as plethora of options available in case of online marketing, huge cost comparisons (thus affordability), response & ROIs.
While traditional marketing attaches a physical touch or evidence to its range of options, digital extends and expands possibilities to go beyond it. With Digital marketing, one can involve their friends’ & family circle in the buying process, with ease in sharing details, and get influenced in taking decision.
The Nielsen “Trust in Advertising” report, noted that only 14% of people value the recommendation of ads while 78% of people value the recommendations of other consumers often friends or known contacts as a credible source.
Integrating Traditional and Digital Marketing
Effective strategy includes both in cohesive manner that elicits expected or required behavior from customers.
Digital marketing extends the power of traditional marketing, by being able to customize & communicate in real time : boosting relevance by customizing customer experience on the fly.
While traditional tactics cant be ignored, passive nature of a the same is limited by its scope in communicating a message, where as effective digital campaign makes viewer participation, often often beyond the length of the campaign : brands can extend the value of their advertisement, by further engaging and guiding prospects towards expected action.
An interesting discussion on econsultancy.
Examples of Integrated Marketing
- Example #1: a new car ad in news paper, with QR diagram, which once scanned gives a chance to book a trail ride. Here news paper (traditional) was used to direct reader to zap a QR code, which gets connected to their online page (Digital), which helps visitor to book a test ride.
- Example #2: An exports company sponsors events & gives all attendees useful brochures & souvenirs, and their website and social media pages are prominently displayed on all to direct the visitors’ interest to pursue further for more info on these digital channels.
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