Traditional marketing is the old form of brand or product awareness that uses the familiar media channels like newspapers, radio and television though new media (social platforms) have now ensured that consumers have a voice and a loud one at that.
The old (not archaic yet) ways of disseminating information involved placing strategic ads in newspapers, magazines, posters and all sort of print media, during TV shows, news mention and radio jingles with one significant disadvantage – there was no way of accurately measuring conversion or knowing how many people were reached. Another disadvantage is that traditional marketing is static, which means there is no way to interact with the audience. It’s more like you are throwing information in front of people and hoping that they decide to take action and response from audiences were usually assumed based on certain streamlined demographics.
But fast-forward to this age, digital tools are now the norm. An average Nigerian/person owns one or more digital gadgets that has access to the Internet. So getting information or staying informed has shifted from waiting till the next day to get newspaper or waiting till whenever the media decides to bring the news. Information can be accessed in real time, so why wait? This has moved the number of subscribers of print media downwards with a consequent upward spiral in digital media consumption. Benefit to using digital marketing is that the results are much easier to measure; and another is that a digital campaign can reach an infinite audience. There can be plenty of direct contact between the audience and the business, which means that the business can get some very valuable consumer feedback.
Based on world statistics, 69% of the leading companies in the world are allocating more than 60% of their total marketing budget to digital marketing (content marketing, social media, SEM and online ads). With the increased use of smartphones and tablets the mobile advertising is projected to increase to about three times of what is it now which is about 30%. Digital ads is also projected to lead the way for global media growth in the next in the next 2 to 3 years.
Realistically, the world has transitioned into a very digital environment. Not only are print medias going digital, we now perform many of our daily tasks such as banking and reading online. So it just seems like common sense to invest in a digital campaign. Even though traditional marketing still has a place, it is diminishing rapidly in our digitally compliant millennium. For today’s businesses, it is compulsory to have a website and use social media as a means to interact with their customer base. There are some successful traditional marketing strategies if you are particularly reaching a largely local audience, but it is important to take advantage of digital marketing so as to keep up in today’s world.