Marketing is all about telling the world that you are a rock star. Most obvious and succinct analogy to define marketing is that it is an umbrella term. Research and development, advertising and other promotions, product sales and services are some very separate yet interconnected phases of marketing process under an umbrella.
According to Dr. Philip Kotler, marketing is the art and science of exploring, creating and delivering to satisfy needs of the customer at profits. It is all about identifying the unfulfilled needs and desires of the society. Kotler further defined marketing as a tool which measures and quantify the size of the market to determine the potential for growth.
As per capabilities of the organization, marketing pinpoint a particular segment which the company can serve. The sole purpose of marketing is to know and understand customers. In customer-centric organizations marketing is a critical functional area. Peter Drucker, the grandfather of commercialization, defined that the purpose of marketing is to create customers, it is all about sharing a passion with their clients through different methods.
It is critical for any business to decide which type of marketing is best for their brand? They need to know what the difference between digital marketing and traditional marketing is and why it matters. Organizations are continuously struggling to decide which kind of marketing is best. Although the marketing is a critical functional area but the budget will stretch to one or the other, not both.
If you are one of those, looking for which method of marketing will give me the most bang for the buck? How to find out that the selected method of marketing is effective or not? Read the full story; the answers may surprise you.
Before diving into the sea of comparisons, let me clarify you the concept of traditional marketing and digital marketing.
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Traditional marketing is a broad category which is encompassing different strategies. These policies fall under four categories print, broadcast, direct mail, and telephone. Every company selling products and services is taking advantage of traditional marketing. Neil Borden coined the term four Ps of marketing or marketing mix to define traditional marketing.
According to Neil Borden, traditional marketing revolves around Product, Promotion, Price and Place. Traditional marketing is any type of promotion, advertising or campaign utilizing print media such as newsletters, billboards, flyers and newspaper, television spots or commercials and radio spots for advertising business product or services.
Traditional marketing methods have been attracting new companies and clients since the beginning but evolution in the landscape of marketing have added or replaced the concept of traditional marketing with new and innovative marketing tactics. Traditional methods of marketing revolve around print advertisements, commercial spots, trade shows or conventions but new innovative ways of marketing revolve around electronic mediums.
The emergence of technology and prevalence of social media in our lives and it have made social media prominent. This shift in technology transitioning the society from the traditional method of marketing to digital methods.
Digital media marketing leverage electronic mediums such as google search, social media, mobile phones and electronic billboards, email, and websites to connect with current and prospective customers. The Huge spectrum of tactics and assets fall under the head of digital marketing.
Digital marketing is an effective marketing strategy to stand out of the crowd. Irrespective of what a company is selling digital marketing involves building out buyer personas to identify the needs of the audience and creating valuable content online.
Today marketers are required to stay informed, adapt and make strategic decisions in a space which is continuously evolving.
Digital media marketing is integrated marketing service which is used to attract and engage customers and convert them into loyal customers online. digital marketing have multiple channels of marketing such as content marketing, influencer marketing , SEO, social media and online advertisements to help brands connect with customers and uncover the performance of marketing programs in real-time.
What’s The Difference?
Modify your budget and run a digital campaign with less cost because digital media marketing is a cheaper method of marketing than traditional marketing. On the hand, whether you are placing an advertisement on billboard or print media, it is going to cost you a lot. Moreover, the effectiveness of traditional media marketing is slowly dropping which can affect the performance of the brand in the long run.
Set up and preparation cost of digital media marketing campaign is lower because it allows marketers to integrate other media marketing channels easily. Smart entrepreneurs use both methods of marketing to reach a broad range of generations.
There is no way to evaluate the success and performance of your marketing efforts in traditional marketing approach. Whereas, in the case of digital marketing, availability of performance metrics or analytics is probably an advantage.
These parameters provide access to the information that how many people interact with your social content and who they are. Firms who advertise through social media marketing has the opportunity to gain real data-driven insights on how well their marketing efforts have panned out and what they can do to improve the performance of their marketing campaigns.
Take advantage of highly informative programs being offered for advertisers to collect and analyses the performance of their online advertisements. Twitter analytics is an outstanding example of performance analytics which enables the marketer to keep track of who gets involved with the post and who is tweeting at your brand.
It’s true for the traditional marketing that you can keep track of your performance, but thankfully social media marketing is providing a better option. Let’s figure out who you are talking about.
With highly active and highly responsive community social media marketing is something which can help you to increase your customer reach. Social media marketing platforms with millions of daily users assist organizations to reach the particular target market.
Traditional media generally exposed to the very broad audience but it results in irrelevant ads served to fans and lower ROI. Deliver the right message to the right audience by keeping track of sales funnels through digital media marketing or social media marketing.
Digital media, as an instant crowd pleaser is winning the hearts and minds of people. The world is becoming online, and it’s high time to pack your bags and embark on the journey of digital media marketing.
Marketing gurus suggested that digital media is a direct communication channel. It is a two-way street where customer and brand have the opportunity to interact in real time and advocate their services.
This type of engagement helps them to create buzz. Digital media marketing also enables brands to gain insights or feedback for their products and services.
Ease of Implementation
Traditional media marketing has to bear the burden of allocation, organization, and execution of highly complex tasks. A generous budget, significant time and employee expertise are essential for the implementation of an effective traditional marketing strategy. Consumption of information is evolving, and traditional method of marketing are not congruent with these upcoming trends.
The need of time is a dynamic environment where consumers have information at their fingertips. So here is the digital media marketing with all perks and benefits for you.
Traditional media marketing is still winning matches but it is on the way to retirement, and digital media marketing is going to take charge in almost all industries.Deciphering digital media marketing and traditional media marketing is not hard, and one is not necessarily better than the other.
Traditional media marketing was an undefeated champion.
What made it clumsy and slow is its inability to adjust to a new innovation and customer needs. Major differentiating factors are the cost, convenience, customer reach, customer engagement and ease of implementation and digital media marketing is winning the competition on all grounds.
The emergence of digital marketing is not the end of traditional marketing.
It is important to gauge the interest of your audience to craft an effective digital media marketing strategy with an appropriate method of marketing for your brand.