Marketing is traditionally the means by which an organisation communicates to, connects with, and engages its target audience to convey the value of and ultimately sell its products and services. However, since the emergence of digital media, in particular, social media and technology innovations, it has increasingly become more about companies building deeper, more meaningful and lasting relationships with the people that they want to buy their products and services. The ever-increasingly fragmented world of media complicates marketers’ ability connect and, at the same, time presents incredible opportunity to forge new territory.
With the Growing competition and field of Marketing, one is taking the numerous number of ways to market his/her companies product through various means and it can be either of using Online Platform or Offline Platform. But on the contradictory Offline ventures are as crucial as anything nowadays for the growth and marketing of the Venture. Many peoples even today across the Globe don’t use any kind of social media platforms and to that customers, the best way is to reach the product by offline advertising means.
Here are the Advantages of Offline Ventures over Online Ventures
Offline Venture: Advantages
Unlike online ventures, offline businesses can establish personal connecࢢons with their customers,
which can build loyalty. Some customers may prefer to buy only after touching or trying on a product, which may reduce the number of product returns for certain businesses. The offline model is the only
option for many businesses. For example, although a restaurant can advertise on social media or put up its menu online, it obviously cannot serve customers online. Similarly, a car dealership is unlikely
to be as effective without its sales staff walking buyers through the buying or leasing process. But along with the advantages of Offline Ventures, it has some disadvantages too.
Online Venture: Disadvantages
An online venture may experience higher product returns because its customers did not get the product they wanted or there was damage during shipment. Product returns reduce net sales, which
can affect profits. The additional shipping costs may deter some customers, while others may not be comfortable with the security of online transactions. Online ventures typically cannot provide the personal touch or the first-hand experience that o[en close a sale. Although online ventures have global reach, they must also compete with potentially thousands of other online ventures offering similar products
Considering both Businesses can use both online and offline models. For example, newspapers have built online portals that incorporate multimedia and interactivity to enrich the reading experience. A bank’s customers can view their accounts, transfer funds and pay bills online, but they can also go to a branch to make a loan application or to withdraw cash.A pure online model like that wouldn’t work here because aren’t that many people online. But just think about how people in India create loans within communities. People have chit funds and organise collections. The notion of lending and trust within a community is well established here. It’s sort of like the micro-finance model, except that it’s
taken to a higher, more affluent consumer, and is done in a manner where you have an online or mobile marketplace. The origination and distribution of loans could happen offline. So with major growth potential, improved margins and o[en a reduced time commitment, an online venture can be a very aractive alternative to a traditional offline business. That’s not to say there aren’t other considerations though. Some businesses will require more work than others and that may be of a technical or bespoke nature. It’s important if you’re approaching any business acquisition that it’s something that fits your background, skill set and acquisition goals. It could well be the case though
that with a little bit of research, an online business will get you there much faster than a traditional offline investment.