Classic marketing methods are changing due to the introduction of social media marketing. I decided to compare and contrast the communication with customer and scope aspects on the chart because they play major roles in marketing.
Classic methods of marketing are more of a one way communication. The flow of communication through social media marketing is directed more towards the consumer, which allows for the marketing department to build lasting relationships with their consumers. If a crisis happens, a company can immediately respond to consumers via their social network sites. The responses are also fast and for the public to see compared to classic marketing where communication is well considered and reviewed. The results of social media are also measurable, which allows marketers to spot trends and make changes to their campaigns if needed.
Reaching consumers is a lot cheaper through social media than with classic marketing. According to Lyfe Marketing, social media is cheaper than any other form of advertising available today.
It is evident that social media platforms have a major influence on consumers. With social media platforms such as Google, Facebook, Twitter, and Youtube consumers are able to communicate amongst themselves and potentially reach millions of other users. According to Roland Berger, 90% of purchases are being made on the basis of recommendations or reviews. This demonstrates the extremely important role social networks play in the purchases made by consumers.
In some areas classic marketing is better. If an advertiser wanted to gain awareness of a new product nationwide then classic marketing would be better than social media marketing. Classic marketing is more suitable for reaching target audiences and markets. Therefore, classic methods are not yet obsolete. To truly reach the greatest amount of consumers, the two should be coordinated together.