Businesses need to combine both new and old media for effective advertising
Marketing in simple terms means communicating value. Value is what consumers pay for through purchasing the goods and services businesses offer. The higher the utility, the more willing customers will be to stay loyal to your brand. Value is a function of several aspects of the business from customer service, quality of goods and services, to after sales services among others. This implies that marketing is an organizational function. For marketing to yield results, the organization must deliver value.
Some companies may not have the budget to be ubiquitous but comprehending prevailing circumstances will go a long in bolstering brand visibility and awareness. Most brands have earned reverence and admiration as a result of their omnipresence. Several marketing techniques, some of which have stood the test of time, guarantee traction and eventually customer loyalty. An important step in marketing is identifying your target market and tailoring your marketing effort to members of that niche. Understanding the behavior of your customers is a critical input when coming up with the right approach to communicate value.
Brands need to combine both old and new media in order to reach a wider range of consumers in terms of demographics. The dynamics have changed and businesses need to adapt. The 7Ps in marketing (Product, Price, Promotion, Place, Physical evidence, Processes and People) need to be approached differently. Consumer behavior is changing in the wake of technological advancement but old media is still critical. Technology has enabled businesses to reach consumers in more cost effective ways with higher returns on investments but, according to research, consumers are bombarded with thousands of advertisements on average in a day on the various digital platforms. Most of these ads do not stick. Due to this fact, the case for old media becomes vindicated.
Old media is still effective because it is not a nuisance, it does not pop up on your screen without a warning neither does it irritate. Consumers are exposed to billboards and banners 24-7/365. Using the right graphics and wording, old media remains one of the most effective forms of advertising. A business that effectively combines both new and old media stands a better chance of increasing brand visibility, brand awareness and eventually improving its bottom-line.