In this age, most businesses have adopted digital marketing as their primary marketing channels. However, that doesn’t mean that traditional channels are no longer effective. Some may even return a higher return on investment as the digital marketing space becomes more competitive each coming year. Here are five traditional marketing channels that can still prove to be a profitable revenue source for your business.
While there are larger upfront costs associated with direct mail, that doesn’t mean it’s necessarily more expensive than digital paid advertising platforms. Direct mail still manages to provide an average responsive rate of 5.1% which is higher than the average of many digital channels like email and paid search. Marketers also tend to see an average of $2095 for every $167 spent.
Many businesses have ditched print ads in lieu of digital ads due to the amount of detailed analytics and tracking that online marketing offers. But it might be a smart idea to scale out to print ads once businesses optimize their ads online. A researched firm found that magazine and newspaper ads resulted in a 125% ROI compared to an 87% ROI for digital. The theory for why is that magazines have built a relationship with their readers compared to cold channels like digital ads.
Video commercials are becoming incredibly popular due to high usage of sites like YouTube, Facebook, and Instagram. While advertising budgets have shifted to digital, TV still can be a profitable channel. A study by Accenture Strategy found that TV ads have a substantial impact on driving sales while also enhancing digital advertising efforts.
Audio commercials can be useful as well. Many people still listen to FM radio stations, but that’s not the full extent of your reach. Digital radio stations like Pandora, Apple Music, and Spotify are widely used. If budget is a concern, many smaller, independent stations offer affordable rates. It’s just a matter of pinpointing the target audience and finding the right station to place your ads on.
Flyers and Coupons
According to BSQU Printing, though websites, social media, and online advertising may rule the talk of the marketing world, print is still a key part of any company’s marketing plan. Flyers and coupons are still as effective as they ever were. For example, a local bowling alley might place free bowling coupon cards in other local businesses, and pay these businesses a small fee in exchange. The coupons will gain strong visibility, and drive many new and return customers to their business. In fact, their business will grow over the years even if they focus just on this single strategy.
The bottom line is that traditional marketing channels still work. It’s just a matter of learning how to build winning campaigns in these channels. Many traditional marketing channels also support digital marketing campaigns very well, often enhancing the effectiveness of campaigns in both channels.