Is there still a place for traditional marketing?

The last 15 months have really seen a seismic shift in how we interact with the world around us. From communicating with loved ones to staying productive in our professional lives to consuming products/services, things have certainly changed for the vast majority of us.

The pandemic has accelerated the digitisation of our society and now more than ever, we are becoming more accustomed to technology. However, as with any change, there are always knock on effects in other areas.

Marketing has always been about communicating and connecting businesses with their customers. The different marketing methods utilised by businesses traditionally varied from industry to industry as well as based on the size of the organisation.

For example, large corporate businesses have usually adapted to change and advancements quicker than typical independent businesses on the high street. This is because they have generally had bigger teams, more resources and a higher budget in order to incorporate new techniques.

In comparison, small businesses that are often owner managed, have had to rely on more traditional methods as they simply don’t have the knowledge, resources and capital to execute different campaigns.

There has always been a place for traditional marketing methods but the last 15 months have changed the status quo. With lockdowns and social distancing, a lot of the marketing initiatives employed by businesses have been much more difficult to implement.

As things begin to change and we start to ease many of the restrictions we’ve all endured, we wanted to focus on whether there is still a place for traditional marketing?

What is traditional marketing?
Traditional marketing as we’ve mentioned above, is all about engaging potential customers. Businesses of all sizes understand that marketing is the most effective way to connect with potential consumers/clients in order to potentially facilitate a sale.

There are lots of different types of approaches to traditional marketing such as direct (brochures, postcards etc), print (newspaper ads), referral (word of mouth), face to face (networking) and broadcast (TV/radio).

For the vast majority of small business owners, traditional marketing methods have been the bedrock of their initiatives. This is because a lot of these methods can be implemented quickly without a huge deal of time and investment. However, the pandemic has changed the landscape and effectiveness of these methods as we gravitate more towards technology.

Why is it effective?
Traditional marketing varies in effectiveness for a lot of businesses. This is principally because it encompasses a range of methods that are tried and tested for business owners. For example, we’ve all received leaflets in the post promoting a new restaurant or store in our local area with a special promotion. However, the vast majority of these leaflets end up being ignored.

The effectiveness of traditional marketing has reduced with the advent of technology because it’s often difficult to optimise campaigns. With a lot of traditional marketing methods you can’t rely on detailed metrics to see if your message is resonating with your audience.

For example, lets take a billboard advert that is positioned in a busy part of town to attract the attention of passers-by. There is no real way to accurately quantify how many people actually saw the billboard and acted on the call to action.

In contrast, digital marketing which we’ll touch on shortly, offers a wealth of analytics that can assist in the decision-making process. This has therefore limited the effectiveness of traditional marketing over the long term for many businesses.

What is the alternative?
Technology has levelled the playing field and made it more accessible for small businesses to compete against larger companies. This is really evident when it comes to marketing techniques for businesses in the race to attract their ideal customers.

Digital marketing methods such as social media, websites, online ordering, search engine optimisation (SEO), customer reviews and email marketing have made it easier than ever for businesses to engage with their customers.

All of the methods above boast the ability to have detailed metrics that can be used to refine campaigns to achieve a positive return on ad spend (ROAS). It is for this reason that many business owners are dedicating the majority of their marketing budget to online methods.

Is traditional marketing still relevant?
Traditional marketing is not all doom and gloom as it certainly has its place in a business’s overall marketing approach. In our opinion, the relevance of traditional marketing has decreased with the widespread adoption of technology by society as a whole. But it’s still effective for businesses to build awareness for what they do.

For businesses to get the most out of their advertising budgets, they need to focus their attention on where their customers spend the majority of their time. With lost of studies conducted showing that the average adult is now spending over 5 hours per day online, it’s clear to see that the digital world is here to stay.

Should businesses adopt a hybrid approach?
A hybrid approach includes traditional and digital marketing activities. For example, a business may choose to host a physical event and promote this through email marketing to their existing customer base. Another example of a hybrid approach is to run print adverts in a newspaper or on radio, with a clear call to action that directs the customer back to the business's website.

It is important to recognise that customers respond to various touchpoints and therefore it is always advisable to reach customers across different mediums. All successful businesses focus on engaging customers across various channels such as their website, social media platforms, email and in print.

This gives customers the maximise opportunity to engage with the products or services and this is ultimately what the business wants.

Summary
As we have seen throughout this weeks blog, there is still a place for traditional marketing. However, it is now less effective when compared to digital marketing methods that can be better optimised to achieve a positive return on investment.

Here at iOB Business, we focus on helping people just like you launch and scale a Digital Agency. This allows our partners to work with local businesses and assist them in engaging with their customers online. To find out more, please contact a member of our team.

Until next time, take care.