Sunday, 26 June 2016
Death Of Traditional Marketing...!!!
Traditional marketing — including advertising, public relations, branding and corporate communications — is dead. Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm. But they are. The evidence is clear.
First, buyers are no longer paying much attention. Several studies have confirmed that in the “buyer’s decision journey,” traditional marketing communications just aren’t relevant. Buyers are checking out product and service information in their own way, often through the Internet, and often from sources outside the firm such as word-of-mouth or customer reviews.
To begin with, consumers are simply not listening to traditional marketing strategies any longer. The effectiveness of billboard ads, television commercials, radio spots, magazine centerfolds, and newspaper ads is waning. Consumers have been so inundated with these strategies for so long that the effectiveness of traditional marketing campaigns has worn off. Also, consumers don't want to get their information from the brand selling products. They prefer to gather information from other sources such as social media and blogs.
Another reason why traditional marketing is falling out of style is the cost to effectiveness ratio. Traditional marketing requires businesses to hire teams of marketers to evaluate consumer populations, perform research, develop strategies, buy ad space, hire artists and copywriters, and pay to distribute marketing strategies throughout the nation. New marketing strategies, like social media marketing and blogging, cost almost nothing in comparison. Which marketing strategies are businesses seeking? It comes as no surprise that many brands are choosing the more cost-effective route.
The problem is that these traditional marketing strategies simply cannot compete with the popularity of alternative marketing strategies that are being employed by savvy businesses. New marketing professionals know how to relate to the modern consumer.
One of the largest differences between traditional and digital marketing is the scope of each strategy. Traditional marketing uses fewer resources, and because of this, the audience will be very specific and targeted. Although digital marketing does see some targeting of its audience, the content is largely available to the public as a whole, dramatically increasing its scope.
Even as digital marketing becomes more popular, the traditional techniques still have their place. Customers tend to be used to these advertisements, and they are also excellent for reaching local audiences. In addition to the increased scope of digital marketing, the increase in interaction makes it more desirable for many companies. Additionally, it makes it much easier to measure the effectiveness of an ad campaign. Although digital marketing is gaining in popularity, most companies are still using both strategies, with a slight emphasis on digital ads.
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