4 Important Things to Consider When Developing a Marketing Strategy

Traditional Marketing vs. Digital Marketing: Which is better?┬áThere are many differences between the two and choosing the right one for your business is very important. While traditional methods of advertising use traditional media such as newspapers and magazines, online marketing makes use of more digital media, including social networking or sites like Twitter, Facebook, blogs, etc. Let’s take a look at how you can go about developing a marketing strategy, whether tradition or digital.

In traditional marketing, a brand is developed by understanding its customer profile i.e. his age group, gender, social status, income bracket, etc. 

This information is then put together with brand image to form a strategy. While online marketing, a brand’s profile and its strategy are made available to the target audience online. Hence, there is no need for a brand to understand its target audience; it already exists in cyberspace.

However, with the recent development in the field of online marketing, there is two-way communication happening between marketers and their target consumers. They can engage in direct and indirect communication. Let us take the example of newspaper ads. Newspaper ads mostly revolve around a single product or a brand.

Online marketing is a multi-dimensional affair. 

Unlike traditional marketing, marketers developing an online marketing strategy need to take into consideration multiple streams of options. They have the option to advertise on the internet through search engines, pay per click, social networking, etc. However, all these online marketing options take time; they consume a lot of resources and still, it’s not as cost-effective as print ads.

What makes internet marketing effective? 

Internet marketing methods are a two-way communication process. First, marketers inform their target consumers about their products and services. Then, consumers inform others about them. In this way, people get to know about their products even before other consumers do.

So how does traditional marketing work well online? 

The main advantage of using online marketing methods is that the audience is global. This helps in gaining access to a wider variety of consumers. Another advantage of traditional marketing is that it is an interactive communication process. Traditional marketing usually works by sending printed circulars and advertisements to consumers. But in the case of online marketing, marketers can create a presence in websites such as Facebook, MySpace, twitter, etc… Consumers interact with these sites and share opinions and views about the brand.

All in all, it can be said that both traditional and online media marketing work well together. 

They both enhance each other’s capabilities and magnify each other’s reach. When used effectively, they form a cycle of marketing success wherein a company gains more exposure and credibility in its chosen sector. Both media marketing and traditional marketing work together in providing businesses with multiple distribution channels. The combination of both these forms of marketing will help businesses improve their customer reach and thereby improve their quality rating and sales. Properly implemented, they can also complement each other to form a powerful marketing platform that will improve a brand’s quality rating. 

So how do you know if these platforms can help your brand to surge ahead of your competitors? 

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Photo by Marco Bianchetti

There are four steps that you need to take into account while developing your marketing strategy

  • A marketing strategy should focus on attracting the right kind of consumers for your brand. In traditional marketing, marketers typically exploit the mass market through television ads, billboards and the like. However, to be able to compete successfully with their counterparts in the same industry, marketers should target only those consumers who would be interested in the product or service that you offer. By targeting only those consumers who would likely buy your product or service, you can save money in marketing costs.
  • It is important to carefully plan out your marketing strategy. You must determine your target audience, draw out a plan of action, set up your budget and schedule time slots for your ads, etc. Your plan should also include your plans for monitoring the results of your ads and make any adjustments that may prove to be necessary. Your marketing plan should effectively address the needs of your target audience so that you do not end up wasting resources just trying to reach out to those who will not be interested in what you have to offer.
  • The success of a digital marketing strategy largely depends on the quality of the content that it provides. A good content helps build a positive online reputation that can drive more consumers to purchase your products or services. Poor content could also lead to a negative online reputation, which will also lead to more consumers avoiding your products and services. To avoid this, a digital marketing strategy should focus on providing high quality content that is informative as well as interesting enough to capture the attention of online browsers.
  • Digital marketing results are also highly dependent on the design and appeal of the ads posted online. This means taking in to account aesthetics as well as the target audience and how they may percieve an ad.

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