Online marketing has changed a number of businesses forever – hasn’t it changed yours yet? If yes, it is time you take online marketing seriously as it can help grow your brand, globally. Before we go ahead and learn the importance of online marketing, let us understand what online marketing is all about.
What is online marketing?
Online marketing in simple terms is the advertising of services or products with the help of digital technologies. These are more like advertisements that are often seen on digital mediums like emails, mobile apps, social media platforms, and search engines.
The importance of online marketing
People from all over the world spend a significant amount of time online, and hence the digital platform is an ideal way for any business to reach the right audience. Online marketing has now emerged as the best way a business can connect with its customers. With a shift in buying approach from offline to online, the need for online marketing too has increased.
If you are still confused, it is essential you know the top reasons why online marketing is right for your business.
Reaches the right people
Let us understand this based on an example. As per a study, almost every internet user has about seven social media accounts, and it was up from 3 accounts a year ago. The vast majority of people use social media accounts every day and they spend an average of 2 hours every day.
So, this shows that social media platforms are where your customers are. But are people buying products via these platforms?
Customers buy products that are advertised to them via social media, and it is said that 37% of time spent on social media platforms is on brand-related content. Social media marketing is a part of online marketing.
So, when you have a strategic online marketing plan, you can reach the right audience via the right platform.
Ideal for start-ups or small businesses
All of us have witnessed how a huge company wipes off local shops in no time. This applies to both online and brick and motor stores as well. It gets hard for small businesses to compete with the brand as they often invest millions in reputation management.
This is when online marketing comes to the rescue as it shines like a ray of hope for those small businesses or start-ups. This applies to physical stores, personal brands and even for e-commerce websites. Even a small business can hold a good ranking position online by implementing foolproof online marketing strategies and with a low budget.
Small business can also manage the budget effectively to know how the money is being spent. With such control and having the data to support your decisions, you will remain the smarter one.
Let’s continue to explore the importance of online marketing and learn how it helps businesses from various sectors.
One of the greatest gifts of online marketing is its ability to reach the right audience from various demographics. With a little analysis, experts can whittle down the target audience into targeted groups to get focused when it comes to applying their marketing strategies.
The businesses who focus on SEO for marketing always obtain more than 70% of traffic only from the search results. By implementing search advertising like pay per click, a business can position itself near or at the top of online searches. This applies even when the website does not appear on the very first page of Google organically.
By using online search advertising, businesses can target customers based on,
- Their buying behavior
- Their age, and gender
- Their professional and educational levels
- Their goals and challenges
- And much more.
Marketing experts thus build landing pages or advertisements based on the specific targets to obtain traffic.
Hyper-personalize your brand
While the concept of personalizing a brand can sound familiar and easy, it is indeed not. With the help of email marketing, brands can now find out the interests of individual-level customers. This is yet another advantage of online marketing.
So, let’s now talk about personalization. Imagine you know few customers on their individual levels; you can easily recommend products based on their choice/ preference as you are aware of his/her purchase history. If you see that they have already visited your web page and have left their cart abandoned, you also know their name. This way, your customers feel respected.
So, the next time you have your email list, try and narrow down the customers based on their interests or previous purchases and personalize based on the data obtained.
Easy to adapt
Like any other marketing method, online marketing to requires a minimum investment to see the traffic flowing to your website. But, online marketing is not only easy to adapt, but businesses can also scale up their budget as they see growth.
For example, if you are choosing campaigns on social media platforms, or search ads, you have the liberty to select a daily budget of your own. This way you know the actual cost of the campaign.
The importance of online marketing is that businesses can obtain quick results and the data collected can be analyzed to reduce lost revenues and to make fast changes if required.
As a conclusion, it can be said that any business in today’s modern economy needs online marketing to sustain the competition. We all know that online is where all your customers are, and it is where you need to reach them. And, online is the place where modern buying has emerged from. This is why the importance of online marketing has been emphasized once and again.
The success of a business depends on internet marketing as it helps to effectively promote your services or products. If you have plans to start a new business or wish to improve an existing one, you certainly need the support of an online marketing agency that can create a stunning website and also implement online marketing techniques. So, contact the experts today!