Is traditional marketing still relevant? How can you utilize long-established marketing strategies and tactics in the new digital economy?
The COVID-19 pandemic is a significant force that compelled many businesses to change direction and adapt to doing business online.
Since more people spend their time and money on digital platforms, customer behavior and buying decisions have also changed.
With these changes, one may think that “old-school” marketing is no longer relevant, and digital marketing strategies have taken over.
Marketing professionals have embraced digital marketing to maintain brand relevance and reach a bigger audience. With the latest technological advancements, many think that digital marketing is the way to go.
However, even if marketing strategies and tactics have changed to adapt to the digital age, traditional marketing principles are still at the core of online marketing. The marketing landscape may change, but the basic concepts of traditional marketing remain highly applicable.
As an established marketing professional, this can be a challenging time. Upskilling and learning how to adapt your traditional marketing knowledge for digital platforms is necessary to keep up and get ahead with the changing times.
Let’s take a closer look into the topic to understand this long-debated discussion.
Traditional Marketing vs. Digital Marketing
Traditional marketing is an approach where brands interact with people through print ads, tv and radio commercials, billboards, and face-to-face interactions to get their message across.
Digital marketing, on the other hand, is facilitated online through organic or paid advertisements. Most common strategies include videos, emails, and influencers. It involves an automated process that uses technology to target more audiences.
Both old-style and digital marketing relies heavily on the four P’s of marketing – product, price, place, and promotion. But because of the internet’s pervasiveness, the Place factor of the marketing mix has become exponentially important.
Marketing through the internet and other digital mediums provide a fast, customized, and less expensive way to reach a massive following. Branding and promotion messages are now delivered directly into the hands of the consumers, anytime, anywhere.
And since we spend most of our time online, the current global situation became a stronghold for digital marketing.
Digital marketing has the more considerable advantage of reaching more people. Moreover, the imposed restrictions have paved the way for digital marketing to become a business necessity.
In fact, a recent digital marketing study showed that 46% of the total global advertising expenditure in 2021 would lean towards digital marketing strategies.
Nonetheless, we cannot take out of the equation the presence of traditional businesses, the market for the older generation, and consumers who crave a more personal interaction that only traditional marketing can provide.
Brands that invest in traditional marketing are seen as more trustworthy and credible because people know that old-school advertising entails a great deal of time, creativity, and money. Companies that utilize traditional marketing mediums have the means to do so, creating an image of success and stability.
Moreover, traditional marketing promotes a more personalized and relatable experience for consumers than the crowded digital space.
People want a deeper relationship with brands they want to patronize. Trade shows and conventions are great examples of how relevant traditional marketing is in today’s day and age. Business owners are provided with a golden opportunity to interact with potential customers, which is an excellent avenue for people to get to know brands on a more personal level.
Why Not Make Both Work for You
Both traditional and digital marketing have their fair share of advantages and disadvantages. The secret is to strike the perfect balance between the two.
Intelligent and adaptive marketers use both to develop effective and efficient campaign strategies to generate the best results.
The use of videos in campaigns is an excellent tactic for integrating both strategies to promote products and services. Companies place the same video ads for both television and online channels to reach a broader market. Plus, they also save on the cost by repurposing the tv video ad for social media and digital streaming.
Using both offline and online channels allow your message to get across multiple target audience. The younger and tech-savvy market can see your ads online. At the same time, you also expose older, traditional, and offline consumers to your message.
Bringing old-school marketing knowledge into the digital world can create more exciting, entertaining, and unforgettable campaigns.
Think about how you can maximize the use of traditional and digital marketing to reach your audience effectively.
One compelling example is a billboard ad where a brand was not only successful in their advertisement. They also integrated their digital channels into the campaign. Making it more memorable, and at the same time giving information on how people can reach them online.
This combination of expertise is a powerful asset to ensure you survive and thrive in today’s digital economy.
Final Thoughts
To be a modern marketer, it pays to have a solid marketing foundation that only traditional marketing can provide. But it would be best if you also learn how to harness the power of digital marketing to leverage your business.
If you want to enhance your traditional marketing knowledge and combine it with digital marketing strategies, check out our Learn & Apply – Digital Marketing Course. Discover how to take advantage of the new normal through our unique LPAR Approach.
