Today I’m going to share with you some of B2B (business to business) marketing strategies that pop out from some of greatest mind of B2B…
Marketing is an essential aspect of businesses. A wise entrepreneur would separately make a budget for marketing only. There are many ways for companies to catch their audiences’ attention, such as digital and traditional marketing.
We live in a world where a considerable part of our generation does all the transactions online, while the other part does not even know how to access the internet. So the decision of choosing traditional or digital marketing can be a bit tricky.
According to Statista, there are more than 3.5 billion smartphone users in the whole world. So most of the business are opting for the digital marketing.
In this blog, we’ll first examine what traditional and digital marketing is, then their advantages and disadvantages, a comparison between the two, and why digital marketing is winning over traditional marketing.
What is Traditional Marketing?
A marketing technique that can be used without the internet is called Traditional Marketing. Most Businesses were using this method for the past decades, but now it is being used less. Traditional marketing includes newspapers and magazine ads, flyers, billboards, ads on televisions and radios, directly mailed coupons and packages, and many more.
Advantages of traditional marketing
- According to Globe Newswire, people of the age above 50 spend more time reading the newspaper and watching TV than those aged 21-34. So if your target audience is aged more than 50, traditional marketing is best for you.
- TV and radio commercials would repeat multiple times a day to remind people of business.
Disadvantages of traditional marketing
- Sending postcards and mailing packaging can be very expensive, even for a small group.
- Slow feedback
- Zero interaction with customers
What is Digital Marketing?
When a business builds a website or does advertisement via social media is called Digital Marketing. Digital marketing strategy requires the use of the internet on smartphones. Digital marketing is evolving due to new technology and trends.
Digital marketing includes blogging, email campaigns, social media promotions, on-page ads, Search Engine Optimization (SEO), and many more.
Digital marketing is viral due to the high usage of the internet by consumers. According to Statista, there are more than 4 billion active internet users and 3.8 billion active social media users worldwide. So digital marketing service makes more sense around this time.
Advantages of digital marketing:
- Works well for global audiences
- Lower cost
- Easier to gather consumer data and increase customer engagement. When someone clicks on a link, you get the information immediately. So with that information, you can plan what works best for audiences.
Disadvantages of digital marketing:
- One can easily skip the digital ads, or some users have ad blockers, so there are chances they might not see your ads.
- Digital marketing campaigns have to be up-to-date with all the latest trends and technologies.
What is best, Traditional or Digital Marketing?
While comparing both marketing strategies, digital marketing wins. With digital marketing services, you can reach out to particular audiences, wherever they may be, at low cost. This allows you to connect information about your audience immediately so that you can create marketing campaigns accordingly.
However, if you want to reach out to an older audience, traditional marketing works just fine. But the ratio of getting more audience is higher for digital marketing.
Here are few reasons why digital marketing is winning over traditional marketing.
- Brand development:
Digital marketing has given brand development a whole new definition compared to traditional marketing. We have a complete website in front of us instead of a newspaper column. Due to a lack of space and advertisement, traditional marketing has failed in this.
Radio and TV advertisements can only give brief introductions of your business. At the same time, with a digital approach, you can forward the website or the things you like on social media whenever you want.
- Real-time result:
With digital marketing, you can keep a record of all the people who visited your website, busy time of the day to forward ads, bounce rate, and conversation ratio. Traditional marketing has no way to keep these kinds of records.
So when you see the results, you have enough time to modify anything that is lacking.
- High exposure and Better interaction:
Traditional marketing is limited to a specific locality. You cannot interact with the audience or get their feedback immediately. So you have to wait a long time to plan your next move.
While with digital marketing, you can connect with your audience worldwide and get their response in no time.
Online marketing allows you to interact with our audience any time they want. You can discuss with the audience about your business and find out the loops in your system. You have to be prepared to invest time in public interaction into your budget.
- Quick publicity:
With the real-time result, you can have easy publicity. We get a quick idea of what is popular among the audiences. Traditional marketing can never deliver the concept of public likings. In contrast, with online marketing, the shares, likes, and comments, you get a proper acknowledgment, and you get a new visitor within a short period.
- Easy analysis:
With google analytics, you instantly get to know what is working for you. You can measure bounce rate, inbound traffic, conversation rate, profit, and many more in real-time. It makes online marketing a step ahead of traditional.
- Suitable for every stage of the field:
You don’t have to worry about your business or staff’s size to reach out to a large group of audiences. The traditional strategy is a disadvantage for small businesses as it requires more human power and costs more.
Virtual developments can be done with minimal people, and it does not require more prominent space.
- Cost reduction:
Newspapers, postcards, and television ads cost more, and there is no guarantee that every customer you sent promotional package is interested in your business. Virtual advertisements can save a lot for small businesses and a new startup.
Young entrepreneurs and school goers can save up a lot via virtual advertisements. It helps to expand marketing across any difficulties.
- No interruption:
People do not buy the newspaper to read about ads or listen to the radio for advertisement. So the traditional way can mostly go unnoticed.
With virtual advertisements, you can choose whether you want to read the email or not. You can choose what you want to see; you can always skip ads.
You cannot opt-out of newspaper ads, but you can always cancel out the ads you see online. This proves that digital marketing won’t be that strategy that knows how to get the target audience without annoying them.
- Strategy refinement:
When we know how things go down, we have a chance to improve them. With virtual advertisements, you can get your results in real-time and modify them if needed. With traditional marketing, you don’t get time to do that because the feedback won’t reach you on time. With google analytics, you can get Virtual advertisement statics immediately, so you can plan a strategy refinement if required. Traditional statics would be very late even to make any strategy refinement on time.
You can think through and decide on digital marketing services and traditional marketing. However, in the era of digitization, it’s clear that digital marketing is the best option for your business. Traditional marketing is still hard for the audience that is in their old age. So, a clever blend of traditional vs. online marketing will get your business where you want it to be.
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About Hemant Parmar
Hemant Parmar is an eCommerce expert and a keen Magento consultant who specializes in meeting the needs of businesses in the e-commerce space. Years in the eCommerce market make him a perfect choice for sharing his expertise on eCommerce and Magento 2 development. He believes that customers need to be met no matter how challenging it might be.Read More