Online Versus Offline Marketplaces

Business, whether offline or online, is solely dependent on marketing techniques. Earlier offline marketing was prominent before the advent of internet facilities. But the marketing technique of the 21st century has undergone a drastic change.

The computer age has ushered in the online marketplaces and tools to advertise and market the products of an upcoming business enterprise. Now what is the difference between online and offline marketplaces?

The Online Marketplace Vs the Offline Marketplace

• Different techniques of marketing: In offline marketplaces, entrepreneurs use televisions, newspapers and other forms of media to advertise their products where as in online marketplaces; they use Webinars, YouTube and online videos to expose their products and services.
• Cheap and effective way of advertising: Through online marketplaces, companies can advertise their products without spending a fortune. There are free online advertising services too in some of the online directories. In the case of offline marketing, companies spend a hefty amount mainly for advertisements. This is quite impossible for start up companies as it incurs huge losses. But with online marketing facilities, their products can get maximum exposure at minimum rate.
• Quicker way of reaching out to target audience: The online marketing tools like video chats, web portals, Twitter, Facebook, and LinkedIn are quite efficient in connecting the masses and thereby giving wide exposure to the company and its products.
• Use of online directories and forums: While offline marketplaces involve meetings and networking events, the online marketplaces concentrate on the use of business to business directories and forums. The business to business directories have different product catalogs where products of various genres are listed accordingly. This makes it easier for the prospective clients to locate the products of their requirement. Thus saving a lot of time and money. The use of forums in the online marketplaces helps them to interact with clients from any part of the world and understand their problems and needs better.

The online marketplaces are far better than offline marketplaces in more ways than one. Online marketing also has the advantage of being available for business round the clock unlike offline marketing services. Through online marketing tools a wide spectrum of internet users can be reached easily and in no time.