Want to create a smarter marketing strategy for retail business?
Rapid developments in technology have caused retail businesses (whether enterprise, SME, or startup) to adapt. Today’s market is more competitive, making it crucial for brands and companies to step up and keep pace with all the changes. As retailers, we bet that you’ve asked yourself — “What is the effective marketing strategy for retail business?” — “Should I stick to traditional marketing or take a chance with digital marketing?” But what’s the difference between the two? Here are detailed definitions courtesy of HubSpot:
It is an approach in which marketers identify their audience and place ads where their audience will see, hear, or interact with them offline, such as print ads, billboards, or television advertisements.
It is facilitated online and uses paid or organic ads on social media or search engines, as well as email marketing, influencer marketing, and video marketing, to name a few. Traditional marketing has become everyone’s comfort zone as it revolves around platforms that we grew up and are familiar with—television, radio, print ads in magazines, newspapers, and of course, billboards. Digital marketing, on the other hand, allowed us to leverage developments in technology to change the way we communicate, as well as the way we create, experience, and consume content. Social platforms, chat apps keep us connected in faster and cheaper ways. Search engines and optimized websites make it easier to find and access information. While it may sometimes feel like these are two completely different things, choosing one versus the other for your business strategy shouldn’t be the question. In fact, doing both allows for a more holistic approach that can pave the path towards your business’ success.
Here’s how both traditional and digital efforts work together to help you reach higher returns:
- Increase brand awareness When it comes to building your brand presence, combining your efforts for both traditional marketing and digital marketing beats just choosing one or the other for your strategy. Having both lets you effectively spread your company’s message across the many different platforms available. Imagine your logo on a sticker or featured in posters spread out across strategic locations, accompanied by a QR code that leads to either your website or social media pages. It’s all about visibility and leveraging both print and digital to increase brand awareness.
- Acquire new customers Think of traditional marketing as a way to reach a broader audience while digital marketing helps you better target specific consumers. Traditional media are seeds that you scatter and sow over a large field. Digital media serves as the means to better nurture audiences who are ready to take action because they have reached out specifically for your product or service. As a result, you can build deeper relationships with your customers. Consider integrating both traditional and digital into your strategy, so you can maximize the market and easily reach out to your target audience.
- Maintain brand reputation It only takes an email and a sign-up form to set up an online presence these days, so the world wide web is sadly saturated with fake news, hoaxes, and scams. As a result, people hesitate to trust a brand that limits itself to just an online presence. According to research, people still consider traditional media more credible compared to online sources, so tapping traditional media helps establish trust, authority, and credibility for your business while investing in approaches like email marketing, search engine optimization, and social media ads amplifies your reach.
- Achieve higher returns With digital marketing, it’s easier to track and analyse data to know what strategy works for your business. Having access to real-time numbers lets you measure your ROI and gives you a clearer picture of how your campaigns are performing and contributing to your business’ overall profits. And while it’s impossible to measure the exact number of eyes that came across your print poster, billboard or TV ad, using traditional media in tandem with your digital efforts can still contribute to your overall ROI and help you achieve higher returns.
These are just four of the many ways on how traditional marketing and digital marketing can work together to help you craft smarter and more cost-efficient strategies. Remember: investing in online efforts doesn’t mean leaving behind tried and tested methods. It’s about thinking strategically and being present across the different platforms so you can go the extra mile for your customers.
At QuicklyLaunch, we want to help small-to-medium businesses build their online presence fast, easy, and at a fraction of the usual cost. Learn more about how to get your business online and marketing-ready with QuicklyLaunch.