In the extraordinary way Digital Marketing has grown in the last decade, there is a lot of debate around whether or not it is about to take over more conventional methods of marketing. The popular opinion surrounding this conversation is that digital marketing has already superseded traditional marketing, which barely survives today and will soon become obsolete. A few current events like Newsweek wrapping up their publication to shift entirely to the digital platform, substantiates these claims. In the past year alone conventional marketing methods have dipped by 160% while expenditure on digital marketing efforts has increased by over 14%. Let’s find out why this has happened. Why is digital marketing considered to be more viable than conventional marketing? What are the basic differences between the two? Read on for more!
What is Traditional Marketing?
There are a lot of aspects of conventional marketing. A few examples include things like business cards, advertisements in print media, TV and radio commercials, brochures, etc. Any form of advertising that does not make use of any digital platform comes under the umbrella term of conventional marketing. It may also include word-of-mouth publicity or recommendations from a trusted source.
What is Digital Marketing?
The realm of digital marketing has witnessed a tremendous growth rate in the recent past. It is pretty evident that as long as technology continues to advance, digital marketing will progress as well! Digital marketing methods include advertising on social media platforms with a great outreach like Facebook, Instagram, and Youtube, through websites and blogs, etc. In fact, the only major point of departure from traditional forms of marketing is the use of digital platforms. It is considered to be an approach of inbound marketing, to make it easier for prospective customers to discover you directly! Businesses create content on their websites, social media handles, and blogs for clients to find. Very often, people go for paid or organic online searches. The more visible your content is, the higher is the chance for them to get engaged with your business. Online presence is the ultimate weapon required to build a successful business empire.
Advantages and Disadvantages of Traditional Marketing
Taking a look at traditional marketing vs. digital marketing in tabular form, you will find a lot of perks that the former offers! Since it is tried and tested, the risks are considerably less, which is why it is often preferred by cautious entrepreneurs. It is evident that people still indulge in activities like reading classified ads in newspapers while they are skimming through the headlines. The target for conventional modes of marketing is a local group of people. One major disadvantage of conventional marketing is that the outcomes are often immeasurable. It is also usually way more costly than digital marketing methods. The greatest problem, however, is the lack of interaction and engagement with your client base when you decide to go for conventional marketing. Chances are that your advertisement will get lost in the crowd if it fails to capture the attention of your target audience, which is a very possible scenario.
Advantages and Disadvantages of Digital Marketing
One obvious major positive of digital marketing is how easily it can be quantified, which translates to a clearer analysis of numbers to find out the strengths and weaknesses of your marketing strategy. The other clear advantage is the vast outreach that digital platforms have, showcasing your products to an infinite global audience, at just a few random clicks. You are also free to customize your digital marketing campaign to target a local group, if that suits you better. It is a highly engaging method of reaching your clients, especially if you’re targeting the youth, on account of the direct contact between you and your client. This ensures direct feedback for your products and services. One disadvantage would be the fact that it takes a longer time and a great deal of commitment to make it big on digital marketing platforms, in order to have the kind of outreach and influence you want.
Finding the right balance!
The world has taken a giant leap to the digital realm, and there can be no two ways about it. It is evident in the amount of time we spend on our phones and other devices, right from scrolling through social media to doing more mundane activities like banking or reading on the internet. In this day and age, loss of connectivity is a nightmare that leaves you feeling paranoid and handicapped. FOMO is real, and there’s no denying it. Considering the times we live in and our social media habits, investing in digital marketing is probably the smartest move for any upcoming enterprise. Conventional marketing techniques are indeed losing ground and relevance rapidly. For today’s entrepreneurs, one of the first requirements of doing business is to own a website. The second is to be able to use the internet effectively to engage with people and build up a strong brand image with a loyal client base. Online advertising vs traditional advertising statistics clearly indicates that the digital world is indeed taking over. We hope to see you there with us, soaring above the competition and making it big!
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