Marketing is, for the lack of a better word, woven into the essence of modern reality. It has become the inextricable part of our daily lives, as every product and every service you might readily enjoy on a daily basis is a part of some marketing strategy. This is the way the modern world works. But is it a bad thing? Absolutely not.
Businesses exist for a reason, to offer their products and services and support the modern, consumer-driven way of life in their own way. Without marketing, not only would the modern customer be lost, but businesses would have no way of reaching their audiences, and sharing their story with the world. In the modern age, however, traditional marketing is no longer the sole driver of success.
Digital marketing is here to stay. Here is what you need to know about these two seemingly opposing forces and how you can take advantage of both to lead your business down the path of long-term success.
Difference between traditional and digital marketing
Marketing has been around in various shapes and forms for thousands of years, but in the modern world, it is considered to be the act of disseminating brand stories, messages, and services, through traditional media. In essence, traditional marketing uses non-digital means of communication such as radio, television, print, and other offline media.
Flip the proverbial coin, and you will find digital marketing, which uses all means of online communication with global audiences, such as email, social media, website, and other forms of online content. Along with this essential discrepancy, these two types of marketing have their own unique benefits, reach potentials, financial structures, level of complexity, and more.
No matter the type you prefer, the goal of both traditional and digital methods is to reach and shape the hearts and minds of your target demographic. Without a doubt, digital media has a higher potential of reaching a worldwide audience faster and more efficiently than traditional marketing.
Have you pinpointed your audience?
To say one is better than the other would be foolish; rather, it’s a matter of embracing both of these powerful methods of communication and accepting that digital marketing has become an inviolable element of our daily lives. Simply put, we live in a digital age run by digital consumers.
Everyone and everything is online, and if your business does not have a digital presence, it might as well not even exist. At the very least, you would be missing out on a whole new world of possibilities. This is why it’s imperative that you pinpoint your demographic and potential audiences by mastering digital marketing and incorporating insightful media monitoring into your operations.
This will give your business the opportunity to act based on key online metrics, such as shares and mentions, traffic, and marketing effectiveness, allowing you to adapt your communication with your audience and maximise the results.
Embracing the “tradigital” mindset
All this talk about digital marketing might prompt you to believe it is superior to its older brother when in reality you should embrace the “tradigital” mindset instead. Simply put, “tradigital” is the harmonious marriage of both traditional and digital concepts, allowing you to benefit from both of these methods of communication.
Even though we live in a digital world, the time of traditional marketing is far from over, especially if you’re operating locally. That said, digital marketing has become essential for both local and global businesses in maximising their reach and elevating brand awareness. This brings us to the next crucial point.
Small business or a global enterprise, it doesn’t matter
Many small business owners make the inadvertent mistake of relying too much on traditional marketing and not giving digital marketing the attention it deserves. The truth is that digital marketing is just as important for the development of small businesses as it is important for global companies.
Much like you would use traditional media to reach the people in your local market, you should use your online presence to put your brand on the local map, and allow your digital audience to experience your story. Remember that to a certain percentage of the population, no matter if they walk past your office door on a daily basis, you don’t exist. This is because the digital audience searches for and experiences content differently. Don’t let this opportunity slip through your fingers.
What about financial investments? Which approach is more cost-effective?
Finally, we should talk money.
The main reason why any business would exist is to secure positive revenue streams and earn more than it spends. Without a positive ROI, a company would not be able to survive, let alone thrive in the modern world. This is why it is vital to find a way to minimise financial expenditure and increase effectiveness simultaneously.
Therefore, traditional marketing and digital marketing must be compared based on their costs and effectiveness. Without a doubt, digital marketing wins in this department, reaching a certain number of individuals using traditional methods can cost more than 10x the price of digital marketing.
But this shouldn’t deter you from using traditional marketing to support your digital efforts and boost online exposure. In a digital world, sticking only to traditional methods would be unwise and detrimental to your business. This is why embracing both concepts equally and investing in digital marketing as well can lead you down the path of long-term success.
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