Since the rise and boom of social media (especially with regard to the marketing industry), the biggest question is which strategy should marketers stick to? Which one is more effective? Is traditional media really phasing out and being taken over?
Here are some major key points I found very helpful before jumping to conclusions:
Traditional media allows the company to communicate and interact with their customers on a more personal level and provide them with full service; this will help the company build trust and improve relationships with customers, ensuring that they are well taken care of. There is also still a large number of people that use tv, print and the radio as a part of their daily lives; this makes traditional media effective for people that still read the newspaper and listen to the radio on their way to work. However, costs to advertise on a newspaper, tv and radio are high and increasing, especially in today’s economic conditions. In addition, Social Media Today outlines the two main disadvantages of traditional media: it is being forced on the consumer and there is a lack of community building. This “old school marketing way has a very low response rate” (Souza, 2012); this also does not encourage people to “share a community with the brand, and as a result, [consumers] don’t care about its promotions. Advertisers spend millions trying to reach people that just don’t care enough to act” (Souza, 2012).
Social media allows the company to build online communities where social media users are able to provide feedback and comments on their experience with the company and the brand. Companies are able to track and measure competitors, conduct online market research and connect with customers on a global scale, as well as reach out and attract new ones. Consumers are able to get information they need instantly through different social media platforms that are available at any time. However, the challenge for many companies is to streamline the different platforms they want to utilize and ensure that each one is regularly maintained and updated to keep up with the growing online communities. Companies also do not have a chance to have face-to-face interaction with their customers and customers will also have to deal with their privacy concerns on the web.
In summary, I found an awesome site that provides a simple comparison of both methods side by side. Here is the link
In conclusion, traditional media is not dead. After outlining a few points on both traditional and social media, traditional media should be used in conjunction with a social media marketing plan.In marketing, traditional media is the hi-touch aspect and social media is the hi-tech aspect. Providing both hi-tech and hi-touch will enable companies to build better relationships with their customers while participating in growing trends of social media. An article from Forbes states that “using both push (traditional) and pull (social media + viral grassroots) marketing strategies [will] present consumers with a 360-degree, well-rounded understanding [a] company” (Stone, 2012).
Stone, Kimberly E. (2012). Why traditional marketing trumps social media and what to do about it. Retrieved November 30, 2012, from http://www.forbes.com/sites/yec/2012/09/18/why-traditional-marketing-trumps-social-media-and-what-to-do-about-it/
Hausman, Angela. (2012). 16 Differences between social media and traditional media. Retrieved November 30, 2012, from http://www.business2community.com/social-media/16-differences-between-social-media-and-traditional-media-0211995
Souza, John. (2012). Pros and Cons of Traditional vs. Social media marketing. Retrieved November 30, 2012 from http://socialmediatoday.com/johnsouza/559299/pros-cons-traditional-vs-social-media-marketing