Difference between Traditional and Digital Marketing
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This report discusses the difference between traditional and digital marketing and how it affects companies like Netflix. It explores customer touch-points and the analysis of data from digital marketing activities.
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DIGITAL MARKETING
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Difference between Traditional and Digital marketing...............................................................3 Customer touch-points in customer journey................................................................................4 Analysis of Data from digital marketing activities......................................................................5 CONCLUSION................................................................................................................................5 REFERENCES..................................................................................................................................
INTRODUCTION Digitalmarketingisformofmarketingofcompanyproductsandservicesthrough electronics devices. It is component of marketing that utilizes technologies that are online based such as smart phones, computers, internet and various other digital media platforms to promote company products and services. Netflix is subscription based online movie rental service provider which was being founded in year 1997, based out of USA. It is one of the business to see potential of emerging technologies where according to recent data it has around 150 million user which constitutes of 37% of internet users. Importance of this marketing is it helps in reaching large target audience which saves lot of time and money. Present report will brief on difference between traditional and digital marketing, will give brief on customer touch points and analysis of data from Digital marketing activities. MAIN BODY Difference between Traditional and Digital marketing Traditional marketing refers to marketing which does not constitutes any online element. It includes promoting company product and services through tangible means such as magazines, newspapers, print ads, and various other means. It also includes promoting commercials of business on TV or radio, brochures, posters and by other means. Anything other than digital or online means to promote brand value is termed as traditional marketing (Todor, 2016). This approach to marketing is oldest in nature and marketers lean on same as it convey message easily which is required to be conveyed whereas Digital marketing is marketing through online means which is through paid social media ads, various advertisement means on social media platform, email marketing and through various other online platforms. It has become widely popular due to various changes in society such as Technological, cultural etc. (Herhausen, 2020). It has changed and evolved way how company such as Netflix market its subscription service to large target audiences and which help company to grow at constant pace. Netflix constantly adopts to promote its services on online platforms such as Facebook, Instagram, Twitter and other to win in marketplace by satisfying its customer through attractive means. Company adopts to various digital marketing tools to make its marketing mix approach more flexible in nature which includes
Products and services has acquired new form which were being earlier traded in physical form in traditional marketing now being traded online which possess unique features to attract audience as a result saving lots of efforts for company (Kannan,2017). Price element has also changed heavily where earlier it was being presumed that services of Netflix cost heavily but with introduction of latest mean it has lower down prices of its services. With introduction of digital marketing it has helped Netflix to get wide reach to places globally to have large target base which is being hard with means of traditional marketing to cover the same (Išoraitė, 2016). Promotion in traditional marketing is hard as compared to digital marketing as it requires huge amount of money and time where it is easy to promote services of Netflix digitally which are highly attractive, as it capture large audiences in no time and saves heavy cost. Customer touch-points in customer journey Customer touch point are areas of customer which Netflix should constantly review and evaluate as it is very complex process consisting of various touch points both online and offline as they move towards through their buying behaviour. Customer journey is full and complete experience with an organisation (Aichner, Gruber, 2017). It is required by Netflix to monitor its customer touch points where it will helps its customers to derive best experience and will generate loyalty and retention of its people which can make business grow and can break too if not taken into consideration Company can attract by offering price which is affordable to its customers as compared to itscompetitorssuchasVoot,Amazonprimevideoandothers,providefree subscription/discounts of its rental service for initial target customers, can extend tenure, for example exceeding months for given prices of watching movies, videos, by providing updated quality services etc. This can also include collecting feedbacks of their experience with company services and improving upon same to derive its customer expectation more efficient and help in satisfying same (Rosenbaum, Otalora, Ramírez, 2017). Company can do this by sending thank you letter for availing services. Customer touch point if meet properly by Netflix helps in deriving Omni channel journey for its customer where it will help customers with seamless experience with company both online and offline.
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Analysis of Data from digital marketing activities Online and digital marketing helps Netflix to get lot of information and data about its customers, there buying behaviour of services of company and provide with useful insight on areas where company needs to improve upon areas where it is lacking. It is because of data which helps Netflix is analysing what customer requirement and what are thing that they want which can be catered by company accordingly (Saura, 2020). It is because of data which support growth and survival of companies which in turn helps in generating high sales revenue, helps in social media engagement, communicating brand value to its target customer more productively and helps in getting and deriving customer retention. It helps in generating site traffic which helps in increasing profitability of company and making to ensure that huge customers are attracting towards its services. It helps in generating data where it lays down customer interaction in terms of amount of time spend by user on company site which provides understanding to Netflix to target which segmentsof customersandhelpinknowing andgeneratingdatasuchasclickthrough advertisement which helps in assessing efficiency of same in term of how many customers lend towards site of company. By analysing data company is availed with advantage of Artificial intelligence which will help Netflix to assess its future and make strategies accordingly (Amado, 2018) CONCLUSION From the above report it is being understood that companies have evolved the way how they market their products and services which is in terms of online and digital mode as it is cost effective and help in reaching to large customer base. It is understood that companies who adopt to both traditional and digital marketing mean are highly successful in marketplace. It is also understood that there are various touch- points of consumer which company should monitor constantly and abide with same to derive and meet with their expectation and also briefed on importance of data collected by online activities to support future strategies.
REFERENCES Books and journals Aichner, T. and Gruber, B., 2017. Managing customer touchpoints and customer satisfaction in b2b mass customization: A case study.International journal of industrial engineering and management.8(3). pp.131-140. Amado, A., and et.al.,2018. Research trends on Big Data in Marketing: A text mining and topic modeling based literature analysis.European Research on Management and Business Economics.24(1). pp.1-7. Herhausen, D.,and et.al., 2020. The digital marketing capabilities gap.Industrial Marketing Management.90. pp.276-290. Išoraitė,M.,2016.Marketingmixtheoreticalaspects.Internationaljournalofresearch granthaalayah.4(6). pp.25-37. Kannan, P.K., 2017. Digital marketing: A framework, review and research agenda.International Journal of Research in Marketing.34(1). pp.22-45. Rosenbaum, M.S., Otalora, M.L. and Ramírez, G.C., 2017. How to create a realistic customer journey map.Business Horizons.60(1). pp.143-150. Saura,J.R.,2020.UsingDataSciencesinDigitalMarketing:Framework,methods,and performance metrics.Journal of Innovation & Knowledge. Todor, R.D., 2016. Blending traditional and digital marketing.Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V.9(1). p.51. 1