In this competitive world, every company wants to grow its business. One of the most important pillars to improve the sales of any business is marketing. Without any proper marketing, any organization can’t sustain in the market. In order to be in the market companies from past decades are following traditional marketing. As time is moving fast the technology has changed the way of advertising. In today’s scenario, most of the companies are moving from traditional way to digital way of marketing.
Traditional marketing means marketing a product or a service through newspaper or magazines, radio, posters, billboards and brochures. In this type of marketing, the cost incurred for an ad is very expensive, reach is less and the results are not measured. Another overlooked means of traditional marketing is when people find a particular business through a referral or a network and eventually they build a rapport with them. But, over the last year or so traditional marketing had fallen nearly 160% while in the same time frame expenses for digital marketing increased over 14%.
Advantage of traditional marketing:
1. The traditional marketing has been long run in the market & people are well habituated to it so that is the reason few companies follow this trend. Finding an ad in newspapers or magazines is a still familiar activity and people do follow them. But, traditional marketing is only reaching local audience even though it is not limited to one.
Disadvantages of traditional marketing:
2. To publish an ad in a particular source i.e. the investment amount is huge.
3. An ad can’t reach many people as advertising manager’s select particular area or region.
4. The results are not easily measured & they can’t be measured at all. The ROI is less when compared to digital marketing.
5. Traditional marketing is static in which means there is no way to interact with audience. It’s more like producing a product or throwing information in front of people and hoping that they decide to take action.
Digital Marketing: The world of digital marketing continues to evolve as long as technology continues to advance. The examples of digital marketing are social media posting, email marketing, content marketing, Google ads, video marketing etc. Specifically, digital marketing is much so similar to traditional advertising, but using digital devices. Digital Marketing is also considered as Inbound Marketing & its goal is for people to find you. Nowadays people are very smart whatever they require about the products or service they just browse on search engines. The more they see you or your content or images or videos the more familiar they will become with your brand and they will eventually develop a trust and a rapport with you through this online presence.
Advantages of digital marketing:
1. In this type of advertising the ad can reach much audience.
2. The cost of investment is less when compared to traditional marketing.
3. The results are measured by using various tools.
4. There can be plenty of direct contact between the audience and the business which means that the business can get some very valuable consumer feedback.
Disadvantage: One of the disadvantages of using digital media marketing strategies is that it can take some time to realize measurable success.
The world has transformed into a digital environment. The few things which we do digitally is banking online transactions, movie ticket booking and much of our reading is done on e-readers & even magazines such as magazine giant, Newsweek is switching to totally digital publications. There are some successful traditional marketing strategies, particularly if you are reaching largely local audience, but it is important to take advantage of digital marketing so as to keep up in today’s world