The usage and ready availability of the internet is the norm. It is no longer a phenomenon to have a business operating solely through the internet - and proving to be profitable. But even now, many businesses are focusing their efforts on visibility in the digital space.
To cater to this demand, companies have started investing in ‘martech’, which in simple terms is to expand consumer reach in a cost-effective way using marketing tools. That said, the majority of the business giants have one thing in common, an omni-channel approach. For any progressive business, having an optimal strategy synergizing the best of digital and traditional marketing is very important.
According to BCG, certain global markets have seen 40 per cent of their ad budgets allocated to digital marketing. Look at it another way and 60 per cent is still reserved for traditional marketing. Here’s one important factor to consider. A brand’s credibility is normally proportional to its spending and investment in a fixed presence.
A common underlying perception associated with digital marketing is its cost-effectiveness. While this is an obvious cost advantage to the company, it is also recognized by the consumer. Spending on traditional marketing may be associated with the brand’s capacity and budget, thus implying the quality of their products and their sustainability in the market. It can also prove to be effective with market penetration in a new geographical zone, where the parameters for digital marketing are unclear. Or even when targeting a consumer base or market with less internet presence.
A right time
It is evident that both forms of marketing have their advantages. What’s important is incorporating an integrated form of marketing to yield the best results. Consider Apple. The brand ensures a consistent presence and style, whether you’re walking into its brick--and-mortar store or a web-outlet. There’s always a sense of flexibility, backed with the comfort of an actual store presence.
It is pertinent that companies make the best use of digital marketing when it comes to user engagement and outreach. Brands have spent heavily on digital marketing before product launches, which helps them reach out to the masses.
Make use of both strategies to balance your campaigns. Where one doesn’t work, the other compensates. Work on your consumer base and build your brand reputation. You can’t expect to invest in a city-wide billboard campaign as a startup with minimal investment. But you can work on a heavy digital marketing effort with focused traditional marketing – mix it up.