How many years have traders played the "traditional marketing is dead" symphony? Since the old dial-up modem sound became synonymous with the World Wide Web? Probably.
As global events move more people online than ever before, the sound of the dying traditional marketing is becoming louder.
But does that make it true?
The fact is that about three in four people prefer to learn more about the products through content rather than traditional advertising. And for 10 people, six say that watching a Facebook video has influenced a purchase decision in the past 30 days; Yet we all say that we hate television commercials.
With virtual events and video calls gaining popularity in early 2020, as well as a huge drop in suburban traffic, traditional advertising like radio ads has fallen even further into disgrace. It seems that digital marketing and advertising continue to take over while traditional marketing is collapsing.
However, almost 80% of consumers report that they at least scan the direct mail advertisements they receive. And more than half of people say they trust printed marketing materials more than any other type.
Therefore, we're back to square one:
Will digital marketing replace traditional marketing?
It is not necessarily a one-size-fits-all answer. The real question that we ask at Kingsmen Agency is "Where is my audience and how can I connect with them?"
Let's take a look at some of the differences between these two disciplines so that we can deepen.
Digital marketing essentially involves using digital channels such as social media websites and email to communicate with an audience, whether it's awareness (social media) or lead generation (websites with conversion paths).
On the other hand, traditional marketing tactics include channels such as billboards, television commercials and print media.
Digital or traditional? Find out what works!
It is always useful to start at the beginning. What better way to start than to dig into what is working and what is not working in your marketing?
Whether you find that traditional methods have become less effective or are just exploring a new path, it is essential to understand your current state.
We, at Kingsmen Agency, ask the following questions: How are you measuring your marketing efforts right now? Do you track where the leads come from? Do you map the conversion paths (or stages) that transform these prospects into customers or clients?
This basic information is essential for establishing measurable marketing. But there are a few more critical steps that will help you understand what turns a stranger into a customer:
· Set your benchmarks. This way you can understand what positive ROI really means for your business.
· Understand the quality of your types of leads. Each prospect has an effect on your income. Not all leads are created equal. Therefore, understanding this can help you focus on the most effective areas.
· Discover the data used by your sales team. How does the sales team convert prospects into customers?
· Determine your ideal customer profiles or buyers. Identify the types of leads that will generate the most revenue and align yourself with the ideal direction of your business.
· Understand how long it takes a lead to become your client. This number can differ significantly from company to company and helps you see the importance of each conversion.
· Follow the buying journey of your current customers. Understand how they went from a problem to your customers and everything that shaped this trip.
When the time comes to carefully consider your lead generation efforts and consider a plan to steer you towards digital marketing, we're here to help.