MARKETING
I think in today’s world there’s no need to tell anyone why marketing is important and who should learn marketing skills. Some skills are as important as knowing how to cook irrespective of gender, caste, age, etc. Everybody should learn these skills to make their life easier and some of these skills are marketing, communication, self-management, positive attitude, teamwork, etc. Nowadays, what is everybody doing? Everybody is doing this marketing, whether he/she is a teacher, is promoting his/her coaching materials, or courses, whether he is a businessman, a technocrat, or anyone with any skill or product which they want to serve the people and earn from them, is doing marketing. Because at the end if you don’t know how to target the customer, how to explain to them about your product or service, how will you grow your business? Doesn’t matter what your ultimate purpose is- it can be earning more money, giving employment to people, or serving society with your product or service, for doing all of these you have to grow your business and you can’t grow your business without reaching a large no. of the audience, or without doing high margin sales.
WHAT MARKETING PROVIDES
INCREASES SALES AND GENERATES REVENUES
By implementing the right marketing techniques, any individual or organization can increase its sale and generate revenues.
BUILD REPUTATION
Either you have expertise in something like maths, dance, music, English, etc which you want to teach others or you have a product that can genuinely help others and make their daily life tasks easier. But if you don’t know how to approach the right or needed customers, then in that case by having marketing skills or by hiring a person who is an expert in marketing, you can reach a large audience and help them build your brand.
EXPAND THE NETWORK
Having a good product or service does not guarantee that your business will grow if you are not putting consistent efforts like listening to your customer’s needs and solving them, customer-oriented models, and making your products or services easily accessible for them either by reducing the cost, or giving them some offers
WAYS TO DO MARKETING
There are two ways of marketing:
We are using traditional methods for centuries, but this digital marketing came into existence in 1995 when big companies established their businesses online.
We can easily understand the difference between them simply just by comparing them:
There are various aspects on which we can compare digital marketing with the old one, some of them are as follows:
In traditional marketing, the medium is printed media. We advertise our services and products only in written form by using hoardings on roads, distributing pamphlets, and posting ads on books, magazines, autorickshaws, buildings, etc.
While in digital marketing, we use text messaging, affiliate marketing, search engine optimization, etc.
In a traditional market, you can target only local and limited customers but in digital marketing, you can target maximum global customers because, in today’s world, almost everyone is using their mobile phones, tablets, or laptops.
In traditional marketing, you can’t measure the ROI but in digital marketing, you can easily measure the ROI as all the related data is stored accurately and up-to-date.
In traditional marketing, there are low conversion rates but with digital marketing, you can improve your conversion rates (as already mentioned the reach is high in the digital world).
As we all know that traditional marketing is mostly based on printed media, so it is obvious that it is so expensive (due to production, distribution, transportation, and manpower cost) but in digital marketing, we have no such expenses.
In digital marketing, your product or services s advertised 24/7 which is not possible in traditional marketing which offers limited time.
If we want to show certain types of ads to certain customers then we have options in digital marketing but unfortunately, we have no such options for customization in traditional marketing which leads to high-cost input.
For traditional marketing, you need a large manpower to do various tasks which leads to high costs unlike in digital marketing, you need less manpower or almost negligible manpower who can perform their tasks efficiently.
It is much easier to reach targeted customers in digital marketing than in traditional marketing.
In traditional marketing, we use formal, delayed, and mass communication, while in digital marketing we use informal, immediate, and one-to-one communication.
Auditing financial reports are much easier in digital marketing than the other ones.
Traditional marketing is product oriented as they have data only related to its product, or service but digital marketing is customer-oriented because they not only have data related to its products or services but also about the needs and demands of its customers because they have one-to-one communication facility, unlike the traditional one which only deals with mass communication.
Traditional marketing is static in nature while digital marketing is dynamic in nature.
As the data obtained from traditional marketing is less, so, the analysis is quite easier than digital marketing in which we have a huge data from various digital platforms which is very complex to analyze.
The engagement of customers in digital marketing is higher as compared to traditional marketing because almost everyone is using their gadgets for almost 7 to 8 hours a day.
You get results late in traditional marketing while in digital marketing, there is a high chance that you get real-time results.
By considering the above points mentioned, we can easily identify that digital marketing is way more effective than traditional marketing.