If you are planning on setting up a business, then the one thing that you are going to have to learn is the process of marketing. No matter how great your business idea is or how promising your products or services are, without marketing, all of those are simply meaningless.
What’s so great about having a perfect product when nobody knows about it?
With the increasing role of online marketing, you need to be able to devise specific strategies tailored for online market, while working on the best practices in the off line world. With that being said, it is very important that you understand the differences between online marketing and traditional marketing, and how you can benefit from both.
Here are the benefits of each marketing type…
Online marketing
- With online marketing, you are able to ensure that you always reach your desired target audience. This is made possible with social networking and internet forums. Reaching your target audience with traditional marketing is a little more difficult.
- If you are trying to reach out to a global audience via traditional marketing, then you will soon see how expensive this can be. It is far more cost effective to use online marketing if you need to reach people on a global scale.
- Online marketing is much more consumer friendly due to the fact that it is more accessible. Social networking is a very powerful tool in today’s business world.
Traditional marketing
- The main advantage that comes with using traditional marketing strategies is the fact that it allows for face to face advertising. This often makes people feel that the business is legitimate and trustworthy, whereas some people are sceptical of online advertisements.
- With traditional marketing there are various different mediums that you can use. For example, television, radio, newspaper, and magazines. This makes it fairly easy to reach your target audience if you use the right strategies.
- As mentioned above, some people still find it very difficult to trust online advertising. This is purely down to the amount of scams out there. It seems that people still feel that traditional marketing methods are associated with reputable business.
Overall, there are pros and cons that come with both traditional marketing and online marketing. For most people, a combination of both often works the best.
About the Author: Working as business & finance analyst in Brisbane, Jim is very much interested in management consulting for finance projects. He writes about new challenges coming up in next year’s in the industry which can help new and established businesses in Brisbane. Follow Jim on Twitter for more information at @JamesForrest8.