Core Concepts of Digital Marketing | What are some Advantages of Digital Marketing for Small Business vs Traditional Marketing?
Running a business is a very hard task because it requires the appropriate functioning of different components that works together to make any business a thriving one. These components commonly include but are not restricted to accounts, human resources, procurement, inventory control, quality assurance, manufacturing, and probably the most important one out of all, marketing. So what are some advantages of Digital Marketing for Small Business vs Traditional Marketing?
Marketing is that aspect of a business where most of the efforts and funds go to. That’s because according to many business experts a product or service sells as good as it is being marketed. And marketing is probably the oldest component of business that still exists to date, although in its modern form, which we are going to discuss in detail. The mediums of marketing have also evolved quite a lot according to the time period of businesses and the type of products and services.
Marketing Mediums throughout History
However despite being one of the oldest components of a business the term marketing came into fruition in the early 1900s. Although there were already techniques prevalent in the name of advertisements that were used to promote products. The first billboard dates back to the 1800s, while the first evidence of mass-scale marketing is found in 1864 through the use of telegraphs, logos and brandings were started to be adopted by businesses by the 1880s, and a formal widespread marketing campaign was made possible through radio advertisements in 1920 when this medium of communication started to penetrate in the public.
As technology and communication mediums progressed we saw the birth of television advertisement whose earliest evidence goes back to 1941, by the 1950s the term telemarketing was coined as a majority of people by that time had telephones, and companies were using it to market their products.
Although print advertisements and flyers were the earliest forms of marketing and advertisement, they have been around since the 1800s during the cowboy period. However, it was by the 1960s that print advertisement really started to take shape when proper marketing agencies came out as a proper business. Then in the 1980s, a cheap and mostly used marketing technique guerilla marketing was developed.
By 1985 desktop publishing another marketing technique employed through computers was created as personal computers started entering the consumer market. After the commercialization of the internet in the early 90s and the launch of the first search engine Yahoo in 1995, marketing techniques also started to mold according to these technologies. However, the biggest milestone and probably the reason behind the birth of digital marketing, the Google search engine was launched in 1998 and by the 2000s google’s paid advertising model (PPC) also started gaining rapid momentum, and this was the beginning of digital marketing.
Why Digital Marketing?
Today the internet is within the reach of most of the world’s population, and more than half of the world is an active internet subscriber. That is because internet providers like Cox internet have made this facility quite cheap and easier to access for people. Since now the internet has penetrated quite deeply into the current world’s infrastructure which is the reason we see people working over the internet, getting education online, while businesses and sale and purchase of products over the internet have already become a norm for a while now.
Since businesses shifted online just like every other activity today, it only made sense that marketing techniques would also use the internet for better customer engagement. And it has always remained the history of marketing that it changed mediums according to the change in consumer patterns because that’s the only logical way of keeping the modern customers engaged with their relevant products by advertising them over the means that are prevalent in that time period.
We have already established above how marketing techniques changed in history. In simpler times there was print marketing that used flyers and billboards, then at the beginning of the age of telecommunication, we saw mediums like radios and then telephones being used for marketing. After the invention of TV, there was a surge in TV advertisements, and all these mediums still exist to this date.
Today in the age of the internet, the most plausible option is to use digital marketing and show ads on the internet as it is the place where people spend most of their time today. Especially after the pandemic, every activity is being performed over the web and since there is little to no physical activity, it doesn’t make sense to spend on physical marketing.
Plus digital marketing is quite cheap and effective something which businesses of today desperately need because due to the economic recession post-pandemic many businesses can’t even afford to spend a lot on their marketing. So in the light of all these arguments, digital marketing is the only way to go in this modern world.
Advantages of Digital Marketing
Not only is digital marketing the need of the hour but it also has many advantages that make it far superior to traditional marketing techniques. Some of the advantages are the ones that we discussed above as well, most notably being a cost-effective marketing strategy.
Digital Marketing is quite cheap because most users only need an internet connection to market their products, and even if we ignore organic digital marketing strategies like SEO or content marketing still the paid marketing infrastructure of let’s say Google Ads is significantly cheaper than any billboard or slot in TV advertisement. Apart from cost these digital marketing strategies are much more targeted and are able to engage potential customers better.
For example, paid google ads and SEO techniques target keywords that potential buyers are searching for and show them the relevant ads regarding the products and services that they are interested in, this is a much better strategy than billboards, flyers, or even TV ads that people hardly notice.
Plus another advantage is tracking and maintaining a marketing budget, through digital marketing, every lead is tracked and marketers can check how much a lead is costing them, allowing them to set a budget. Businesses can also track potential buyers and their collective consumer behavior to come up with better marketing strategies, such benefits are not available with any other traditional marketing techniques.
In the light of changing business dynamics and consumer trends, it has become apparent that digital marketing is the most effective way for a business to sell its products or services. And looking at the advantages that digital marketing techniques possess over their physical counterparts, it’s about time that we normalize and start adopting these core fundamentals of digital marketing.