Are you someone facing difficulties in promoting a product?
If you are one, this article is going to give you an idea of major channels of marketing.
This article is for entrepreneurs, bloggers, and students.
What is Marketing?
Marketing is the process of making your customers and clients interested in your product and/or services. It is one of the important parts of your business that affects your sales and profit.
Many companies start marketing after they make their products, and which is not the ideal way. Marketing starts before creating the product. It involves understanding your prospective customers and their needs. This leads you to make your product. So that when your product comes into the market at the right time, it fits well to customer needs. You can read the basics of marketings here.
Many good products have failed to capture the market because of improper marketing. It is important to have a good product that fits customer needs along with a very well-planned marketing strategy for that product.
A good product is of no use if it is not marketed well. At the same time marketing a bad quality product or doesn’t fit customer needs hampers a brand’s reputation.
A successful marketing campaign is about sending the right message to the right person at the right time.
‘I have sold my product; I don’t need marketing anymore’ — WRONG
Many of us think that after a sale has happened, marketing has achieved its goal. But this is not true, as selling is not everything that your marketing campaign should aim for. After-sales communications with your customers make them happy. They remain your customers for a long time. Your existing customers become the brand ambassadors for your product and brand. Word of mouth is still the best marketing technique today.
Now you understand why you need marketing for your product or services. The next question comes to your mind –
‘How will I do marketing for my product?’
In today’s time, we classify the marketing channels in two categories –
1) Traditional Marketing
2) Digital Marketing
And there comes a point where one needs to identify the right channel for marketing.
Traditional Marketing vs. Digital Marketing:
The difference between these two is in the medium through which the audience encounters a marketing message.
Traditional marketing uses traditional marketing channels like billboards, newspapers, etc.
Digital marketing uses digital media like websites, social media for marketing messages.
Let’s discuss these two mediums.
Traditional marketing has been here for a long time. Before the boom in internet usage, it was the only channel for promoting a product or service.
Typical channels for traditional marketing are:
1) Outdoor (Billboards, posters, bus/taxi wraps)
2) Broadcasting (TV, Radio, etc.)
3) Print Media (Magazines, Newspapers, etc.)
4) Direct Mail (Catalogue)
5) Window display
6) Telemarketing (Phone calls, SMS)
1) Impactful and easy to understand –
The tv commercial ads or billboards creatives are easy to understand. They create an impact on the audiences’ minds.
2) Permanent –
Printed ads are permanent. The ad creatives are going to stay as long as newspapers or magazines are not recycled.
3) More memorable –
Tv commercials or printed ads stays for a longer time in memory
1) Difficult to measure –
It is difficult to measure the reach of the ads on billboards or tv commercials or radio.
2) Often expensive –
A print ad in reputed newspapers or magazines or a tv commercial ad is often expensive. Many start-ups find it difficult to manage their marketing budgets.
3) No direct interaction with customers –
There is no scope for direct interaction with customers. It is a kind of one-way communication.
4) Cannot be easily updated –
Once the ad copy is printed in a newspaper or telecasted over television, in case of any mistake or if any customization is needed, that can’t be done.
Digital Marketing is the latest channel of marketing where the internet is the media. According to Clickz, 57% of the global population uses the internet. On average a person stays online 6hrs 42 minutes each day. With the increasing usage of the internet, digital marketing is here to stay. You can find a list of great blogs on digital marketing here.
Typical channels for digital marketing:
2) Social Media
3) Content Marketing
4) Email Marketing
5) PPC (Pay per click)
6) SEM (Search Engine Marketing)
7) Affiliate Marketing
8) Inbound Marketing
1) More options for engagement –
Features like share, comment, like, tag, etc. give ways to engage with your customers.
2) Easy to measure –
We can measure the performance of any campaign using different analytic tools. This helps to take decisions.
3) Clever targeting –
We can make very specific targeting based on demographics, locations, regions, interests, etc.
1) Ads can be annoying –
While you surf the internet for some important tasks, digital ads can be annoying
2) Less permanent –
Ads on digital media persist for some moments. It makes them less permanent in human memory.
3) Constant evolution –
Social media and other platforms keep changing their features and algorithms. One should keep track of new features and make use of them in marketing.
Digital marketing and traditional marketing both have their pros and cons. You can’t deny one against another. During marketing strategy, you should understand specific marketing needs for your product. Consider your marketing budget and understand your target customers very well.