Which is more effective?

Consider the size of the audience
TV
Radio
News Paper
Magazine
Leaflets
Then
Ecommerce

E Commerce is great for finding what you are looking for, but not so good to inform you about something you may not be looking for (think TV adverts etc), If you want to tell all of london about your new widget then ecommerce can not do that
 
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While digital marketing is definitely more popular in recent years, traditional marketing is here to stay.
The more traditional marketing channels eg. tv and radio still reach a huge volume and can be hugely successful, especially for businesses on the larger side. Digital marketing methods can be more cost-effective, it just depends on the approach you take.
 
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E Commerce is great for finding what you are looking for, but not so good to inform you about something you may not be looking for (think TV adverts etc), If you want to tell all of london about your new widget then ecommerce can not do that
This pretty much sums it up I think.
 
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