Traditional Vs Digital Marketing
Digital Marketing is very different from traditional marketing in various ways. While traditional marketing is spray and pray, wherein a marketer spreads the message among many people and hopes that some will be in the market to buy the product.
Digital marketing can be targeted to specific audiences who have interest in the product and hence are already in the market to buy those products.
There are the limitation of mass media-‘Half of ads is waste. But I don’t know which half’. Digital overcomes this limitation of mass media as it eliminates wastage.
Digital marketing (DM) is about maximum efficiency. Since it is possible to measure the performance of DM in real-time, there is ample scope to tweak the campaigns and improve ROI. Marketers can do A/B testing to find the most effective messages, texts, ads, images, layouts etc. In digital, there is always a scope of improvement.
While mass media is priced on rate card basis for a 10-second spot on TV or column centimetres for a newspaper, digital is priced based on the auction. Instead of a fixed-rate card, marketers bid at auction and price is determined based bid as well as quality score. Hence, there is a fair price discovery that happens in digital.
Digital marketing creates a level playing field for all marketers as it does not distinguish between small and large businesses. The entry barrier is low as one can engage is DM even with a little budget. The media rates are the same for small as well as big businesses.
Traditional Vs Digital Marketing
The cost of failure is low in DM. Even is the campaign does not work, you will know immediately and can take corrective action. You may lose only a small amount if your plan fails. Hence, it is a smart strategy to be a bit edgy and try new ideas and different mediums of digital marketing to check out what works for you and what does not work.
Digital marketing is like walking like fog. Visibility is there for the first 10 metres. If you want more visibility, you must walk the first 10 meters to be able to see the next 10. Hence, instead of waiting for the perfect plan or blueprint, you should start digital marketing and learn on the go.
Instead of perfecting your strategy from day one, it is better to make I per cent improvements every day and at the end of the year, you will have 365 per cent improvement.
Related: The P-O-E-M framework
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