Traditional Marketing – Outbound Advertising
In traditional marketing companies have attempted to make the public aware of their products or services for sale.
The traditional marketers have used traditional marketing tools such as television, Newspapers, radio or direct mail.
The expected response rates have been between 0.5% and 2% on outbound messages. In other words, if we get that message out to 1000 people, we can expect between 5 and 20 people to respond.
Internet Marketing – Inbound Marketing
Today we know that a huge percentage of buyers use the Internet when making purchasing decisions.
Even those who still buy in the ‘real world’ locally often use the Internet to make decisions prior to buying in the real world. They will use computers, tablets, readers and cell phones to search, do some related research perhaps and then buy.
In the US and other western countries nearly everyone today is using the Internet to make product or service purchasing decisions. This trend is also coming to africa faster in other countries like South africa, Kenya and Nigeria. Even some small countries like Rwanda where the leadership has seen this potential and have invested in the necessary technologies and infrastructure.
Obama’s victory in the US is attributed to the use of Internet and mobile advertising allowed his supporters and contributors to easily participate.
Therefore, in today’s product or service marketing model:
It is not so important to FIND BUYERS
It is more important that they can FIND YOU
Malawi’s mobile connections GROWTH which is at par with Africa’s 17 – 20% year-on-year should see companies such as Airtel and TNM grow and rake profits in the next five years. This growth will mean more internet connections and thus a large number of prospective buyers.
According to the latest GSMA Intelligence data from the World Bank and UN, total mobile connections in the Sub Sahara region alone passed the 500 million mark in Q1 2013, increasing by about 20% year-on-year.
Connections are expected to grow by a further 50% (250 million connections) over the next five years. The continent’s smartphone market is expected to double in the next four years.
In Africa including Malawi the most effective marketing tool is now becoming the Internet enhanced by widespread use of mobile as it reaches the broadest markets, in the remotest areas of the world.
Next week I will discuss the Impact of websites and how they Impact government and private services