Featured article by Dan Radak, Independent Technology Author
There are 28.8 million businesses just like yours out there, selling products similar to yours and marketing to the same group of people. So, to survive in such a highly competitive landscape, you need to have a solid marketing strategy.
However, this bids a question as to what marketing techniques you should use. Should you stick to tried-and-true traditional marketing tactics or focus on highly engaging digital marketing? What about combining these practices?
Let’s find out.
Digital Marketing may be King…
Today, we have moved almost every aspect of our lives to the digital landscape. We communicate via instant messaging apps, pay our bills online, store our sensitive data in the cloud, and even take advantage of work from home programs. Most importantly, we use search engines to make purchases and look for the information about the brands and products we’re interested in. Namely, statistics show that 81% of shoppers conduct an online research before making big purchases, while an average B2B customer does about 12 searches before engaging with a brand.
So, to put yourself on the radar of your customers and boost their engagement, you need to invest in your online presence. That’s where digital marketing practices shine. In layman’s terms, digital marketing is an umbrella term for all your online marketing efforts, including search engine optimization, search engine marketing, content marketing, social media marketing, pay-per-click advertising, affiliate marketing, and email marketing. The implementation of these practices into your business promotion may benefit you in numerous ways:
1. It’s inexpensive or even free.
2. You can keep track of all relevant metrics and make data-driven decisions in the future.
3. To deliver a highly personalized customer experience, you can collect the information about your customers across different channels and create buyer personas.
4. You will be able to market to the right people, through the right channels.
5. You can collect and give real-time feedback.
…But Traditional Marketing Remains Relevant
In 2010, Pepsi invested tens of millions of dollars in moving their entire marketing campaign to social networks. Their so-called “Pepsi Refresh Project” was widely promoted online, generating more than 80 million votes, 60.000 Twitter followers, and 3.5 million Facebook likes. Even though it seemed like a huge success, this project didn’t help Pepsi boost their ROI, causing them to lose over $350 million.
So, where did they go wrong?
Obviously, they underestimated the importance of traditional marketing. Even though the digital marketing techniques mentioned above are more intuitive and cost-effective, you should never forget that your customers still watch TV, read newspapers, collect flyers, and participate in rewards programs.
With the help of these marketing methods, you will be able to market to a wider, more diverse audience, boost your customers’ brand awareness, and build direct contacts. Most importantly, you will manage to target local customers effectively. If you own a furniture store in, let’s say in Melbourne, you should focus on building a brand strategy for Melbourne-based customers, who would be interested in visiting your store and making a purchase. In this case, making use of street art, booking a billboard, or give out flyers may be a good idea.
