Marketing is essential for any business to increase sales and brand awareness. Prior to marketing one’s business, the target audience must first be identified to make it easier to determine which type of marketing medium to go with (in some cases, a combination of traditional and digital marketing is necessary). This list below contents the top 4 things for entrepreneurs to consider:
- Cost Digital marketing is more cost-effective compared to traditional marketing. With digital marketing, the estimated total cost to reach 2, 000 audience is only $125, compared to $1800 for traditional marketing. Printing and paying for an ad space is costly, but can be a great investment if the campaign is done right and creatively. For new startups with strict budget, digital marketing could be a great start.
- Accessibility These days, more and more people all over the world are using mobile phones; whether to shop online, connect with people via social media, or for entertainment. People are also more likely to check social media on their mobile phones than desktops. Additionally, people spend an average of two hours daily checking out their phones. This shows that there’s a higher accessibility with digital marketing, especially if the business is targeting the younger generation.
- Metrics It’s a lot easier to measure the success of a brand’s campaign with digital marketing. Digital marketing allows one to measure traffic on one’s website, count the blog visitors, see their activities, likes and dislikes, and the engagement level of one’s audience on the business’s social networks. These metrics prove to be crucial and useful when figuring out what works and what doesn’t, and enables one to craft a better strategy to gain growth and audience.
- Platforms Traditional marketing comprises of telemarketing, direct mail, broadcast media (i.e. radio ads or TV), and print media (i.e. brochures, letters, magazine or newspaper ads) as its platforms when reaching out to target audience. Meanwhile, digital marketing comprises of video marketing, Google ads, banner ads, content marketing, social networking sites, websites, and SMS (one can also consider sending picture SMS to increase social media followers). The former has high success rate and proven techniques, while the latter is cost-efficient and allows for direct audience response.
Traditional marketing generally appeals to the older generation, while digital marketing appeals to the Millennials. Depending on the type of business, a traditional marketing would be better than digital marketing, or vice versa. In some cases, a combination of both could make a campaign successful. That is why it’s advisable to take all these four factors into consideration when deciding which marketing strategy to use.