Generation of marketers finds new opportunities and challenges, as well as concepts and tools to handle them. Looking back even a decade or so, few marketers would have imagined that Internet advertising would pose such a serious threat to conventional advertising.
Traditional marketing is anything except digital means to brand your product or logo. Another overlooked means of traditional marketing
is when people find a particular business through a referral or a network and eventually you build a rapport with them. Most of the time, traditional marketing is reaching only a local audience , Local Business SEO is Best for reaching local audience even though it is not limited to one. One of the primary disadvantages of traditional marketing is that the results are not easily measured.
Fewer still expected marketing investments to be held to the same standards of financial accountability as investments in more tangible aspects of the firm, like operations. And we would be willing to wager that very few visionary firms prepared themselves to exploit the deluge of data and information that of ten overwhelm today’s marketing decision-making environment.
Traditional marketing includes :
● Business cards
● Business promotions on TV and
● Print advertisements in daily newspapers
● Magazines to publicize an occasion or products
Digital marketing Includes:
● Social media
● YouTube videos to publicize product or services
As a profession, marketing must evolve beyond relying almost exclusively on conceptual content to drive decisions and actions. Concepts that have been honed by experience will always have an important role to play in marketing, but today’s marketing also requires more systematic analyses and processes. Marketing decision making resembles design engineering—putting together concepts, data analyses, and simulations to learn about the marketplace and design effective marketing plans. Although many people view traditional marketing as an art and others regard it as science, modern marketing increasingly looks like engineering—a combination of art and science to solve specific problems.
Market Research versus Market Reality:
The primary challenge for any business, no matter how large or small, is quite simple— how to get its product or service into the hands of the customer. How the company will achieve this is informed by market research, gut instinct, polls, surveys, and research about existing habits and activities. However, when conducting market research, especially surveys, we need to take one key factor into account.The Internet enables us to learn from market reality by looking at what people actually do online. We can use social listening tools to research customers’ activities.
What Are the 3i Principles?
The 3i Principles- Initiate, Iterate, and Integrate—form the foundation for all DMI
Methodologies and are key to any successful marketing strategy.
Principle 1: Initiate
Our greatest challenge as marketers is shutting up! Digital truly is for dummies, in the sense that every question you may have about budget, resources, strategy, and channels is answered by the consumer—if only we would listen! The initiate principle of digital marketing states that the customer is the starting and finishing point for all digital activities. The answer to all questions is “let the customer decide.” Many people are too quick to jump into managing digital channels. They set up blogs, websites, and social media profiles and start publishing nonspecific content about themselves, their companies, and their products. They fail to realize that digital channels are not broadcast channels in the traditional sense of the term. In fact, they are interaction channels that facilitate a two-way conversation. By taking the time to find out what your customers are doing online, your digital activities will become radically more effective.
Principle 2: Iterate
Within minutes of publishing an ad, we can see what the click-through rates, response rates, and conversion rates are. More importantly, the content or design of the ad can be changed a limitless number of times in response to user actions. This ability to publish, track response, and tweak accordingly is the greatest strength of the Internet and produces the second of our 3i
This principle emphasizes the importance of tweaking a digital marketing campaign in response to user interaction. Each digital marketing channel is most effective when you apply an iterative process, and the more iterations of the campaign you apply, the more effective each becomes.
Principle 3: Integrate
Integration as a principle is crucial to effective digital marketing. It works at three levels: 1 Integrate your efforts across digital channels. Integration across digital channels is about using information gleaned through one channel to improve the effectiveness of another digital channel. It can be as simple as sharing information learned through search engine optimization with your email marketing team.Integrate your digital and traditional marketing efforts. Integration of digital and traditional marketing involves using information gathered from your digital marketing efforts and integrating it into your traditional marketing strategy.
For example, when writing the script for a radio ad you should use the same keywords that resonate with customers using search engines.
Any opportunity to learn from your customers can be shared across all channels to improve the effectiveness of all of your communications and marketing campaigns. Integrate your reporting sources. Companies who engage with digital marketing obtain an abundance of data about their customers. However, it is important to gather data in a way that allows you to make good business decisions. An integrated view of your customers is a good place to start. Luckily, a lot of the work can be done for you by using a tool such as Google Analytics.
For example, this tool can provide you with detailed information on the source of the traffic coming to your website.Making business decisions based on the true value of your digital marketing is a crucial step in implementing and justifying your digital marketing strategy.
Digital Marketing: A 21st Century Imperative
What does all this mean to you? Simply put, now is the time to rethink your marketing mix. You need to shift your budget from traditional marketing channels to digital marketing channels, even if that means taking some risks and abandoning (or decreasing the importance of channels that have worked well for you in the past. If you want to remain successful in the B2B space, you can’t ignore the fundamental changes that are resulting from your customers embrace of the Internet.
On Going Results:
In traditional marketing, we need to wait for weeks or sometimes months to see an improving result in the business. While once we start using digital marketing, we don’t have to hold on longer to see an important increment in the business.In traditional marketing technique results can’t be measured easily. On the other hand, in Digital Marketing, it is easy to determine a return on investment (ROI) by utilizing Google analytic tools. SEO Keyword Research and Link Building is Essential to Increase your Website Authority.