Online Marketing is advertising and marketing the products or services of a business over Internet. It is also known as Internet Marketing, Web Marketing or simply OLM. Online Marketing relies upon websites or emails to reach to the users and it is combined with e-commerce to facilitate the business transactions. In online marketing, you can promote your products and services via websites, blogs, email, social media, forums and mobile apps. Online marketing is widely practiced strategy of advertising or promoting sales and names of the business. Wise use of online marketing strategies can take the business to unprecedented levels of success.
ADVANTAGES OF ONLINE MARKETING:
- It is measurable. You can know the number of people who viewed the online advertise and the number of ones who purchased the product.
- It is more cost-effective.
- It is fast and efficient for brand building.
- It is not interrupting. The user can attend online advertises as per his/her preferences.
- It can provide maximum information about the product or service, offers and transactions.
WHY ONLINE MARKETING MATTERS?
A recent survey found that people now turn to the internet for more of their shopping than brick and mortar stores, and the percentage of purchases consumers make online has been on an upward trajectory for years. Business cannot neglect the internet and it’s not enough to have just a website. You shouldn’t necessarily look at online marketing as something you have to do. Instead, see it as a powerful opportunity for your business. There’s a lot you can accomplish with a solid marketing plan and a lot of benefits it offers in comparison to other types of marketing and advertising.
4 REASONS WHY ONLINE MARKETING CAN BOOST YOUR BUSINESS
The web is a competitive space and you have to put work into increasing your online visibility sp the people likely to be your customers can find you. Online Marketing is the best way to do that.
(1) YOU CAN MEET PEOPLE WHERE THEY ARE: A growing number of people spend much of their day online. A few research study found that 73% of people go online at least once a day, and 21% say they are online “almost constantly.” Some of the time is spent actively browsing for things they want to buy but a lot of it is spent on social media, checking emails, or reading blogs and news sites.
Online Marketing allows you to reach and connect with people in the places they hang out online, in addition to showing up when they’re looking for what you’re selling.
(2) YOU GET RICHER ANALYTICS: One of the biggest challenges businesses have always faced when it comes to marketing is figuring out whether or not your efforts are working. Online marketing gives the gift of extensive analytics that makes it easier to track marketing success than it’s ever been before. You can see detailed analysis of how people are finding and behaving on your website, how well your social media marketing efforts are paying off and how people interact with your emails. Detailed marketing analytics both make it easier for you to figure out the ROI(Return of Investment) of your marketing spending and give you the knowledge you need to continually improve how you approach your online marketing over time.
(3) YOU CAN BE MORE TARGETED IN YOUR MARKETING: Few businesses need to reach everyone in their marketing. For example, if you sell fitness gear, you only really need to reach people that work out regularly (or at least try to). Traditional forms of advertising generally meant having to pay to reach everyone in order to get your advertising in front of the few it was really meant for – billboards and TV commercials don’t allow for much targeting.
Online marketing, in comparison, provides plenty of opportunities to target your ads and content to particular audiences. PPC and social media advertising let you specify who you want to show your ads to based on factors like geography, gender, income, and interests – and retargeting goes even further and lets you deliver ads to people based on their past interactions with your brand.
With online marketing, you don’t have to waste money advertising to teens when your target audience is seniors. You can only pay for reaching the people most likely to buy from you.
(4) IT GETS BETTER ROI: 76% of businesses say that their online marketing gets better ROI than any offline channels they use. As a result, spending on online marketing continues to rise year after year. Businesses wouldn’t be throwing money at it if it wasn’t paying off. If spending money on online marketing will help you make more money, then there’s no good reason not to do it.
DISADVANTAGES OF ONLINE MARKETING
One of the biggest downsides to online marketing is the stiff competition. It can be very difficult to make your business and information stand out with companies around the world competing. Skill and knowledge required. Online marketing today also requires a great deal of knowledge and skill to be successful. Advertising and marketing costs money. If you don’t do the proper research then you might end up throwing money away. Wasting marketing efforts by targeting the wrong audience using an inappropriate medium would be a serious and costly mistake.
Internet marketing is like digging a gold mine. 97% people focus on 99% dirt and keep complaining. 3% people focus on 1% gold and keep it collecting.
− Sanja Budin, Owner, smartbizprofits.com
5 TIPS FOR ONLINE MARKETERS
DO ONLINE MARKETING:
The first tip is straightforward enough. Don’t feel like you can get away with not bothering to do online marketing. If you want to reach people in the space where they’re doing their shopping or planning their purchases, then you have to invest in online marketing.
Not doing so may not ruin your business, but it will pretty well guarantee you’ll be leaving money on the table and missing out on some of the people that could become your best customers. And the longer you wait to start, the further behind you’ll be.
LEARN A LITTLE BIT ABOUT EVERYTHING:
As a business or website owner, you shouldn’t feel like you need to be an expert on every facet of online marketing, but you should strive to get a 101-level knowledge of each of the various types of online marketing. That knowledge will steer you in the right direction in figuring out which types you should invest in and recognizing the people skilled enough to help you pursue each one effectively.
HIRE GOOD PEOPLE:
Online marketing is a big job. Don’t try to do everything yourself. Seek out an agency or some freelance professionals who are experts on the types of marketing you want to pursue and can take over some of the planning and execution for you. Their expertise will lead to better results, and you can avoid stretching yourself too thin.
CREATE AN OVERALL ONLINE MARKETING STRATEGY:
Your social media and email marketing can help promote your content. And conversion marketing can take customers past the finish line once the other forms of marketing have brought them to your website.
Don’t treat each channel and type of marketing as separate. Creating an overall strategy will enable you to make sure every piece of marketing you and your team creates will better support everything else you’re doing and have a higher likelihood of achieving the results you want.
KEEP IT UP:
Online marketing isn’t something you can do once and be done. Your online marketing strategy needs to be consistent and updated regularly. Treat this as an ongoing line item in your budget. Use your marketing analytics to check in regularly on how well your efforts are working and determine how to improve upon what you’ve done before.
The longer you do online marketing, the better you’ll get at it and the more you’ll see results. But before you get to that part, you have to get started.