Q1: What Is Traditional Marketing?
Traditional Marketing is when the marketing activities are undertaken conventionally, i.e. by way of newspaper, television radio and magazine. As, digital marketing is when we use the online platform to promote the products and services of our company.
Marketing involves those activities which assist the company in promoting the offerings and converting the prospects into leads. In today’s scenario, marketing has completely changed its form, i.e. from physical to digital. So, it is not wrong to say that an average individual comes across thousands of ads in a single day, no matter the model, traditional or digital.
Traditional marketing is becoming a lost element in the business world. Many people are now marketing their businesses online as the number of internet users grows substantially every year. To give you a quick insight, there are 4.72 billion internet users in the world today. The total number of internet users around the world grew by 332 million in the past 12 months – more than 900,000 new users each day.
Q2: Is Traditional Marketing Beneficial?
We all are aware that the marketing trends in today’s era are changing at a very fast pace and the market has drifted to digital marketing from traditional marketing. The marketers have now shifted to digital platforms for promoting their brands as digital marketing platforms like e-commerce websites, google ads, emails, etc. are used more frequently and are available to the maximum number of the targeted market/audience. So rather than spending marketing efforts and money only on the traditional ways of marketing, the marketers/businesses and the companies are now switching to the digital marketing platforms for reaching out to the maximum number of targeted consumers and for generating more revenue and profit for their brand.
It is important to understand that choosing a promising market is not the only step for a successful business, one must also know how to convert this promising market/opportunity/consumer into successful business leads or promising customers. There is a population that still abides by the traditional methods of marketing and does not believe in online transactions or online marketing, however, the market has seen a trend of exponential growth in the number of customers or consumers who are using the internet for their day to day transactions. The reason why digital marketing has taken over traditional marketing is that digital marketing produces higher returns and converts potential customers into a business lead easily and efficiently
Q3: Why Not Traditional Marketing?
Traditional Content Is Temporary – Unlike online content, traditional content is temporary. Consumers are not able to search for magazines, newspapers and TV shows once they have been published or finished airing. On the other hand, internet content is forever. All the blog posts you uploaded online will still be accessible years later, for as long as your servers are up. As such, consumers can always have access to your message, as long as you don’t take the content down.
Traditional Marketing Is Not Targeted – Traditional marketing involves producing content for the masses. Advertisements in newspapers and shopping malls will catch the eye of everyone who walks by, and are not able to speak to a specific audience. Now, digital marketing allows marketers to target a particular group of individuals accurately. With the use of email marketing, digital marketers can also personalize their emails to the recipient, and track the actions of the recipient after these emails are sent.
Traditional Marketing Is Hard To Track – Traditional marketing does not allow marketers to track their progress and their marketing returns from a particular channel. For instance, they are not able to analyse the increase/decrease in revenue from a particular advertisement in a shopping mall. On the other hand, digital marketing allows marketers to analyse the return on investment for a particular ad on a particular platform. They can then choose the best performing ads and platforms and reuse them for the next marketing campaign.
In a nutshell, the only way for brands to survive in this evolving digital environment is to adapt to the changes and start implementing digital marketing strategies.
Absence Of Proper Marketing Strategy – It is always a challenge for startups to figure out the best ways to market their products or services. The fact that small businesses need to maximize their return on investment with efficient and result oriented targeted marketing also makes them vulnerable in terms of trust they have developed vis-à-vis customers. Without putting a comprehensive marketing strategy in place, companies’ profits take a steep plunge.
Shortage Of Money – Cash flow is essential for startups to survive. One of the key challenges that small businesses face today relates to finances. As income increases, the expenditures also increase and to top it all, startups rely heavily on investors who provide them strong financial support.
When such situations arrive, startups are the first ones who lose on properly managing their finances, and eventually succumb to the pressure. While entrepreneurs have to make sure that they have enough funds to go around, in the meantime, they also have to pay their employees, contractors, mortgage, and grocery bills.