It is 21st century.
The year is 2017.
The era of the digitalized world.
The competition of who is going to be better in the online market world.
- Should we follow the rules of tradition?
- What does traditional marketing even include?
- Is the digital marketing strategy the only and the best way to advertise your product?
Here are a few reasons why digital marketing benefits more to your marketing strategy.
Do you lack money for your startup?
If you, as a young entrepreneur, have just founded a startup, we presume you lack initial capital. You have some of your own savings. You have asked your family to help you out. Maybe you have jumped into a bank loan or a short term loan. But it’s still not enough.
Casper Ravn-Sørensen, an angel investor and a co-founder of Alpha57 knows it best. It reminds him of the times when he first started his company and had just an idea and desire to change the digital marketing world in 2006. That is why he would like you to take some advice from him regarding traditional and digital marketing purposes.
Traditional marketing requires a significant investment of money. You need investment in flashy images and advertisements. Your outcome for traditional marketing requires from you to pay to the television, radio or any another source of traditional marketing to advertise you.
What do you gain from digital marketing instead?
- Content marketing – that requires only investment of time, imagination, energy and knowledge. You can pay for someone to write your content, but it still wouldn’t be as much as you would pay for a TV commercial.
- No-cost marketing activities such as – referrals, joint ventures and public speaking
- Communication with customers
Is traditional marketing a mean of communication?
One sided communication yes. When you look at traditional marketing as a bigger picture. It is all about informing the consumers about your existence. A lot of them aren’t even interested in what you have to offer of course, but they continue looking at the advertisement. Will they actually become interested if they keep on watching the same advertisement over and over again? For days, months, even years! Not really.
Instead, with digital marketing strategy, you are getting a direct feedback from your consumer group. And of course, you are getting the feedback from that group of consumers who are not interested in your product. But if you develop your product or service according to the feedback you are getting from both sides – your project can conquer the world!
Growing the number of customers – one at a time, or?
Traditional marketing focuses on linear growth through acquiring one customer at a time while digital marketing strategy finds ways to grow geometrically. With digital marketing and the feedback you are getting, you are going to create a stream of new businesses through referrals and endorsements. If customers are satisfied – they are getting direct benefit through, for example, gift cards shared on social media. There is a sea of possibilities just waiting for you to use them in your digital marketing strategy!
Focusing on the brand or on the customer?
Traditional marketers build the brand. It stands for something that the customer can trust, and one can say that they rely less on making the easy sale first. They are using their powerful brand as a way to gain access to customers.
Digital marketing has a more personalized focus. Customer’s self is targeted through digital marketing strategy. And in which way? As we already have mentioned – by getting customers’ feedback and listening to customers’ desires.
- What do customers want from the product and how can we further develop it according to customers’ desires? – that is the focal point of digital marketing strategy.
So, to sum it up, digital media marketing brings more profit. Not just in relation to money issues, but to customer satisfaction as well. People are spending so much time online that those days where they used to buy things they see on TV have long passed.
So, what are you to do?
You should make a plan for your digital marketing strategy! You will read more about that in our next article. And if you need any questions or suggestions, feel free to contact our team.