Thursday, June 19, 2014

Online Marketing vs Traditional Marketing


Unfortunately, most businesses in the world do not have unlimited resources that they can pour into their marketing strategies. That means that as soon as you start thinking about how you are going to advertise your company, whether you sell goods or services, you will immediately start making compromises. However, there are two different routes that you can take with your marketing, and that is either through the traditional channels, or taking everything online. But how do you make that sort of decision?

First, you look at the facts. Almost 33% of marketing has moved from traditional media to the internet. That is a huge amount, and the finance numbers do not stop there. It has been estimated that in 2013, more than ten percent of companies' budgets were spent on marketing alone. That may seem incredible, but traditional marketing is not completely falling behind yet. Many businesses have stated that they are going to be investing more money into trade shows and public relations. In fact, the only aspect of traditional marketing that has fallen by the wayside is print advertising, such as pamphlets and flyers.

If online marketing intimidates you, you have to remember that online marketing isn't a one trick pony. There are many avenues that marketers are starting to explore, including typical barside adverts to social media marketing and smart phone apps. There is a huge amount of diversity out there in the way that companies choose to market themselves online ñ what you have to decide is whether or not your company would benefit from some of them.

There are some niche markets that it makes total sense to advertise primarily online. An example of a group that would fit this description would be a product aimed at those aged between eighteen and twenty four. They aren't looking at billboards, they are staring at their smart phones, and so that is the place to advertise. On the other hand, if your services are aimed at those who are home owners, there is a much wider spread of ages and backgrounds ñ and therefore to reach all of them, you will probably find it most profitable to split your marketing to both online and traditional media.

Don't forget to experiment! There is no rule that once you make a decision on your advertising campaign you absolutely have to stick to it, so see what works, and then change it to see if you get an improvement.

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1 comment:

  1. That's right, marketing is moving from traditional media to the internet. Thanks for the analysis, it'll help me with my home task

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