Which one’s better for your business?
HOW WOULD THE ECONOMY REVIVE, IF MARKETERS WOULDN’T HAVE EXISTED?
MARKETERS ARE LIKE “THE REDEEMERS OF ECONOMY” WITHOUT WHOM ORGANIZATIONS WOULD GO HAYWIRE.
To start with, please go through the definitions below (some of you might be aware of, but still):
Traditional Marketing: It is the business process of identifying, anticipating, and satisfying customers’ needs and wants. Marketers can direct product/services to other businesses (B2B) or directly to consumers (B2C).
Digital Marketing: It is the component of marketing that utilizes the internet and online-based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services.
In today’s times, “Innovation” and “Adaptability” needs to be imbibed (depending upon the situation) in your marketing tactics, regardless of whether it is ‘traditional marketing’ or ‘Digital marketing.’
Direct marketing (face-to-face) is still considered as one of the most potent types of traditional marketing. There are some organizations who still believe that direct marketing can give more mileage to their business. They feel that physical presence can make a connection with the client even stronger.
On the contrary, there are digital marketers who create online content for blogs and social media and engage the audience. Eventually, leads are generated and money pours in.
Network marketing, direct marketing (face-to-face), Newspapers, magazines, T.V ads, Marketing brochure and flyers (hard copy), telemarketing, radio, billboards, posters, banners, exhibitions, events, and seminars are some of the important types of traditional marketing.
SEO (Search engine optimization), SEM (Search engine marketing), SMM (Social media marketing), SMO (Social media optimization), Content marketing, YouTube marketing, affiliate marketing, email marketing are some of the important types of Digital marketing.
Coming to your business:
- How would you promote and grow your business?
- What is the marketing budget that you have allocated?
- Do you have a team of professionals who have the experience and expertise in traditional and digital marketing?
- What is your marketing strategy for the next 6 – 12 months (depends)?
- Do you have a couple of innovative marketing ideas?
- If need be required, are you willing to spend some amount on Marketing training?
- Are you willing to do extensive research on marketing?
- What is your take on market segmentation, niche customers, market positioning and brand building?
- Are you willing to take marketing risks that which your company has never taken before?
- Is your team ready to learn and adapt the new marketing 2.0 concepts and implement it?
- Lastly, are you really passionate enough to take your marketing activities to an all-new level?
There’s a saying “A confused mind creates haphazard results, whereas a crystal-clear mind creates remarkable results.”
The above questions give you a clear picture (to some extent) as to where you are in terms of your marketing activities and where you need to go.
In Hyderabad – India, there is a well-known place which goes by the name “Ameerpet.” Ameerpet is actually known to be a hub for IT training. There is this majestic pathway which is around a kilometer long occupied by IT training institutes on both sides of the road.
Please note that a huge lot of students/freshers (who have completed their graduation or post-graduation) from various states come to this specific place and enquire about IT training courses. Now, coming to the focal point, what is the marketing medium of generating business for these IT training centers? It’s flyers, marketing brochures (hard copy), telemarketing, word-of-mouth, events, seminars, and banner ads.
On average, every training institute has a batch size of around 10 – 500 students (approx.) depending upon the popularity of the training institute. The numbers will astonish you. There are over 50,000 students (approx.) who get trained every month. Imagine the amount of revenue these IT training centers are generating and that too on a minimal marketing budget.
What’s really mind-boggling is that this is continuing from the last two decades. Ameerpet has been successful in creating an ecosystem of IT classroom training from the last two decades. A CLASSIC CASE OF TRADITIONAL MARKETING.
On the flip side, there is Elon Musk (CEO of Tesla and SpaceX) who has smartly used the online marketing medium especially Twitter to build a cult following. People want to buy Tesla, because they believe in Elon Musk. This is how Elon created a sophisticated brand image of himself using the Digital marketing platform. Elon knew that innovation coupled with risk-taking capacity would make him an online rockstar. A CLASSIC CASE OF DIGITAL MARKETING.
There are many more case studies that we can explore.
The key thing is only those who know your business from the inside out, would be in a position to suggest going for traditional marketing or digital marketing or both.
The current business trends have changed to a large extent, you need to have brainstorming sessions with your team in order to come up with innovative marketing ideas (traditional or digital or both) that are in line with your business and can help in the engaging audience.
A marketing message is a driving force that actually bridges the gap between your company and the outside world. There has to be a well-thought-out plan to create a marketing message that is specific and valuable.