A top-notch marketing plan is one of the most important methods for businesses interested in reaching a large audience and growing the bottom-line. Bigger companies spend well into the thousands, some even millions, to reach their target audience in order to convert them into paying customers.
However, most small to mid-sized businesses don’t have unlimited resources to dump into marketing. Requiring an educated decision on how to market. Some businesses do very well with traditional marketing strategies and ignore digital marketing completely. Some businesses find that digital marketing works best for their business.
Deciding the best marketing plan requires a bit of understand of each and how each strategies work, and how they can work together.
Digital Marketing Defined
The promotion of products or brands via one or more forms of electronic media. For example, advertising mediums that might be used as part of the digital marketing strategy of a business could include promotional efforts made via the Internet, social media, mobile phones and electronic billboards. (Business Dictionary)
- 70% of consumers want to learn about products through content as opposed to traditional ad methods.
- 46% of all searches on Google are seeking local information.
- 72% of consumers, who search for local businesses [online], end up visiting stores within five miles.
- 64% of consumers say watching a marketing video on Facebook has influenced a purchase decision of theirs in the last month.
Digital Marketing Makes Sense (and Cents!)
The majority of people today are spending most of their time online. Connecting with consumers via Social Media, Blogging, Email, just makes sense. Digital marketing allows consumers to find you, thus the more online exposure and visibility your business has the better.
Digital Marketing is also relatively easy and inexpensive to use. Most online sites are free to use, and paid methods can provide great exposure for a small budget.
Traditional Marketing Defined
Traditional Marketing refers to a kind of promotion, advertisement in which companies used this method in the early period to market their product. This Marketing includes print advertisements, billboards, flyers or pamphlets, TV, newspaper, radio, etc. (Quora) In addition to direct mail postcards, brochures, fliers sent through the postal mail. (Marketing Schools)
- 79% of households say they read or scan direct mail ads.
- 39% of customers say they try a business for the first time because of direct mail advertising.
- 56% of customers find print marketing to be the most trustworthy type of marketing.
- 44% of customers visit a brand’s website after receiving direct mail marketing.
Traditional Marketing Has Its Drawbacks
Traditional marketing provides very little interaction with your audience and can be very costly.
Traditional marketing does allow you to broadcast a message to a targeted audience (mailers by zip code, print publications by industry or interest, etc.) However, it is more of a one-and-done, where it is only seen while people are viewing that publication or reading their mail before tossing it into the recycling bin. Many experts think traditional marketing high risk and low reward.
What Should You Do?
If your business isn’t using digital media for marketing, it’s time to start marketing in 2019! However, don’t give up on traditional marketing efforts if they work and you have the budget. A good marketing plan will coordinate your online and offline efforts, using both digital and traditional media to get your business the exposure it needs to succeed.