Traditional Marketing Vs Digital Marketing: 4 Perspectives To Help You Choose Right Approach For 2020
Our material possessions are a result of either an urgent and genuine need for the object or quintessential marketing strategies. One cannot overlook the lucrativeness of this domain and the hold it has over humankind. Every little necessity is a function of extravagant marketing techniques, and such have advanced over their perpetual application.
As an active entrepreneur, one must realize the importance of marketing in this digital-corporate-fight. Since its advent, its usage has multiplied enormously, and the corporate community would come close to perishing in its absence. The success of the corporate world is highly dependent on the functioning of marketing techniques.
The primitive form of marketing involved the application of four P’s, Price, Promotion, Product, and Placement, to form a concrete pitch. A successful combination of these would result in a ‘closed-won’ without extra effort. Another technique followed in traditional marketing is that of Segmentation. It allows a marketer to divide the market into homogenous segments or subsets based on geographic, demographic, behavioral variables, etc. Several processes within this technique, such as finding the ‘niche’ within a section, drawing a Buyers’ Profile, or performing a depth segmentation, enable a marketer to formulate the perfect marketing strategy. The traditional form of marketing company focused and product-based. Every message conveyed to the target market is company controlled.
On the contrary, Digital or Modern Marketing works with the digital segment, such as social media platforms, search engines, etc., to raise awareness and sales of a product or service. It uses the assistance of various digitally-enabled gizmos that enable and ease marketing techniques. There are various digital marketing channels created on the internet that create, accelerate, and transmit product value from producers to the ultimate consumers.
The modern method of marketing extends far beyond mere sales of products or services. After-sales services are of utmost importance and steps like 24/7 customer service, enables quick and easy redressal of customer complaints.
There are various platforms like SEO, SEM, Content Marketing, Pay Per Click (PPC), Online PR, Inbound Marketing, etc. that have facilitated a grandiose digital dominance by a lot of multi-nationals. Besides, social media platforms such as Instagram, and Facebook, have recently added the feature of a Business Account that allows you to make money at your fingertips.
While both the forms have some pros and cons’, it may be impetuous to choose one over the other without digging deep into its effectiveness. Listed below is an unprejudiced perspective towards the two models for the next century:
- Return on Investment:
As rational beings, we calculate the success of a transaction based on the profits made and networks created. Such rationalization of dealings is known as Return on investment (ROI).
There are a few rudimentary aspects of ROI, namely, Cost Incurred, Target Audience, Time, etc. The summations of all of these results in a concrete report that suggests a negative or positive ROI. According to sources, the Traditional form of marketing has proven to have a better ROI than modern.
- The Magnitude of Impact:
The magnitude of the impact caused depends on the kind of marketing model used. The traditional model could ensure a strong impact on the masses. Also, it could ensure a customized strategy depending on the demographic factors. Digital Marketing ensures a wide exposure since it uses platforms like social media, PPC (Pay Per Click), SEO, Online PR, Inbound Marketing, and more.
- Familiar Rules:
The perk of going the traditional way is that there is a well-drafted framework that results in several combinations of marketing strategies. Time consumed is much lesser than when compared to digital marketing, but the results are as effective. In digital marketing, there aren’t any set rules that one needs to follow, but it leaves a lot of scope for improvisation.
- Customer Base:
In both genres of marketing, customer base plays an essential role in the success of the strategy applied. While digital marketing promises quick delivery and brand loyalty, traditional marketing promotes the extension of the customer base by applying variant strategies for product promotion.
The shift from traditional to digital took place due to the evolutionary nature of the corporate world. We have shifted from newspaper printed advertisements to smartphone-powered promotion techniques, and such a shift has brought forward various aspects of the virtual platform.
Digital transformation is the new genre of new-era marketing. With its roots spread over a large canvas, the modern style of marketing has changed the way marketers look at promotion techniques. In this lucrative corporate arena, it may be cumbersome for an agency to chart its marketing technique. In such situations, there comes a need for a Full-Service Digital Marketing Agency that will walk with you in your digital transformation journey from conception to fruition and ward off all your troubles related to digital marketing, and also allows you to focus on the other essential chores.