Marketing is a vital strategy implemented for businesses, containing numerous efficient tools. Traditional marketing methods, which have been in use for many years is now facing completion from Internet Marketing, which has brought in new innovative ways of doing business for companies, and that has affected the way marketing works.
All Enterprises and Businesses have some burning question that need answers – What forms of marketing should be adopted in order to drive more customers. What strategy will offer greater benefits or values? Properly understanding your target market is the key to making the right allocation of marketing funds.
Traditional Marketing Methods
The traditional method of marketing still has it’s stand and value in the market. While referring to traditional marketing, we refer to a sales force both independent and internal, leads purchasing, hoardings, print media referrals, sign boards, radio, TV and trade shows.
- The only means of reaching your particular group of consumers is through traditional methods. If the enterprise intends to target retiring CEOs, much of this demographic will not use social media channels or the internet.
- Selling of products from Person-to-person is considered by many an efficient strategy of traditional marketing. There is definitely a place and a time when this type of marketing is the most productive way to market a service or product.
- It will be a tough task to target specific clients that can actually utilize the services or products
- There is a diminishing return in corresponding sales at the conclusion of the campaign because of their relatively high costs.
- Low probability of delivering an impactful and memorable message to potential customers at the moment they are ready to make an immediate purchase.
- It will be difficult to track results as tracking real quantitative results will be hard to obtain.
Internet Marketing is the process of marketing a product through the use of the Internet. It includes both direct marketing elements as well as indirect marketing elements. This strategy also uses a wide variety of technologies to help connect better to customers and businesses.
By investing in this form of marketing and the use of search engine optimization (SEO), an enterprise will get cost-effective access to wide client-base that is looking online for specific services and products. It is essential to note that the investment made in Internet marketing will continue to provide greater leads in sales, company value, brand awareness, market penetration, and the ability to support the expansion of new services and products.
- It is an inexpensive method and the results can be easily measurable.
- It allows an enterprise to directly communicate with individual consumers and groups.
- Any decisions can be made through qualitative results and real data.
- This method can accurately reach your target audience as it has the ability to drill down into the businesses specific demographics.
- Data and results are available immediately and accessible to any business verticals.
- Internet marketing can be done by individuals directly.
- The ability to build direct relationships with clients through forums, polls and social networking.
- It can be a highly demanding and time consuming task. The content must be created, edited, approved and published continuously, and proper response to comments on the sites and pages must be maintained.
- There must be able to be inconsistent or mismanaged in the brand identity in social media sites, forums, blogs etc.
- There is a constant reliance on customers that have to be interactive on the internet.
Unlike traditional marketing methods, Internet marketing offers a 24/7 availability to clients who are researching, searching for, and even making a purchasing decision about your services or products, depending on the ones that can be accomplished without any intervention.
Keeping in mind the nature of the internet, Businesses are bound to have a truly global reach. While traditional methods have certain limitations while reaching huge multinationals, Internet Marketing is an innovative new avenue for businesses of different verticals and has the potential to get access to consumers from all over the globe.