OLD MARKETING VS NEW MARKETING – WHICH ONE IS BETTER?
Telecommunication over a decade ago was much different than what we know it as today. The days of cold calling for leads, extensive focus on email marketing, and outdoor/television advertisement have decreased. The new age of digital marketing creates a more dynamic field for all businesses and entrepreneurs to succeed.
Old marketing techniques have been outdated for a reason. Comparing old and new marketing strategies show how ineffective the strategies were back then and how far we’ve come today in the marketing industry.
Which Promotes More Relevant Leads?
Inbound marketing strategies on the internet have given businesses much more insight on who their targeted demographic is these days. Developing buyer personas, companies can use these personas to develop a strategy fit for their business.
Before internet marketing reached this point, another strategy was like shooting darts at a board blindfolded. Calling centers were developed in old marketing strategies to develop similar leads to the ones businesses have today. However, the problem with call centers is the cold-calling technique involved didn’t get high conversion rates.
So, calling around aimlessly to each number, the representatives nor company developed a strategy to scope out relevant leads. Before inbound marketing, most companies solicited lists that contained names, numbers, addresses, and other sensitive information. That was all they had to go off as far as knowing the potential customer before pitching an idea.
It was an unpractical way to market. Newer strategies not only allow companies to better monitor their customers and develop buyer personas, it also gives them a platform to target only that demographic. With the development and advancement of social media, they play a crucial role in helping these companies track down their demographic on a larger scale (nationally or even internationally).
Hands down, new-age marketing helps companies develop more relevant leads.
Higher Conversions Rates?
Conversion means more than even developing leads. This is where the term “relevant” continues to come into play. Old marketing techniques didn’t have a way to establish relevancy with each potential lead. Therefore, they could have a list of 500 names and phone numbers and still only make a handful of sales.
New age marketing leads the future of marketing into a brighter future where quality takes priority over quantity. If a company develops an online presence and interacts often with their followers, they will develop more meaningful relationships with their customers. This turns them into quality leads. Old marketing had no way of establishing this, making conversions much less likely.
Higher Sales Percentage
When you take the previous two points, you’ll see a noticeable trend. New-aged marketing continues to outshine its competition with higher leads and high conversion rates. What does this mean for your company?
The more customers you establish, the less money you’re wasting on advertising. Each new customer gets assigned a number value. This number explains specifically how much it costs to get them as a customer. It’s a tricky part of business many entrepreneurs forget, but it’s crucial to keep up with this dollar number.
Old marketing techniques almost guaranteed that you’d have a significantly higher-costing average cost per person. Due to cold-calling and email spamming, the companies who wanted to thrive had no choice but to spend thousands of extra dollars into their campaigns to be seen or heard.
However, that’s eliminated with the reformation of marketing through a digital platform. These strategies allow you to keep cost margins significantly lower on a per-customer cost. With many customers in the world, you have access to over 1 billion people in the world. Beats the small population of the town you’re living in now.
Old Marketing Still Has Its Place
Although old marketing doesn’t stand anywhere nearly as solid as newer marketing strategies, they still come in handy. Although cold-calling has been all but eliminated from the marketing world, the email marketing campaigns still are incredibly useful. Plus, with the advancement of technology, it’s made it easier for a person to access their email box.
Certain people still enjoy one-on-one email conversations. It’s still useful for grabbing the attention of your audience (specifically Generation X), who enjoy an old-school life with a twist of the new school age of marketing. Exposure with advertisements can prove effective today if you provide an area-specific service or product.
New Age Marketing Takes the Crown
Whatever you want to do with your marketing strategy, whether old school or new school, you have the luxury to do either nowadays. So, utilizing the best of both is the best way to become an effective marketer in today’s competitive market.
If you haven’t already begun developing your online presence, it’s time you get that done now. Especially before it gets any more difficult to establish your brand on the largest community-based social media websites. Competition only continues to steadily increase in the marketing world, which is what makes it even more vital to get ahead.