Why You Should Invest in Online Marketing
With new technology appearing each day, it’s important that small and medium sized businesses keep up to date. While displaying multi media ads to the masses used to work well, the time has come to focus your efforts on online marketing. By implementing email marketing, social media marketing, search engine optimization and more into your overall marketing strategy, you’ll be able to reach your target audience far easier than when using traditional methods, and at a fraction of the price.
Internet marketing techniques and tools have been evolving to make sure that you can reach your targeted audience, allowing your business not only to survive, but to grow. With internet usage increasing every day, online marketing is a viable investment that can provide immense long term benefits. We have put together a collection of 8 reasons explaining why you should invest in online marketing methods:
1. It’s Where Your Customers Are:
Nowadays, no business can say that they’re not online or that they won’t ship internationally. When you’re trying to grow your business, you need to know that more than 87% of adults in Canada and in the United States are online, and that around 97% of those use online media for shopping, according to the Internet World Stats from June 2015. Regardless of who your target market is, you can make a safe assumption that most of them have internet access.
2. Interact & Engage With Your Targeted Audience:
Using tools such as Social Media Platforms (which we will cover later), you can broadcast and receive information from your target market. Once you begin to interact with your target audience, you will know exactly what they are looking for and once you provide it, you’ll see a substantial growth in your business. Engaging with your audience will also build a strong buyer-seller relationship, leading to a better experience for your customers.
3. Your Competitors Are Already Doing It:
Regardless of the industry your business operates in, you can almost gurantee your competitors have a presence online in one form or another. Many Brick and Mortar businesses have started to see a rapid decline in sales from 2013 to the present day, with many business owners claiming that websites such as eBay and Amazon are killing their trade. However, online marketing allows small businesses to compete effectively against market leaders. If you can perfect elements of your online marketing campaign (SEO in particular), you can easily challenge the giants within your sector.
4. Online Marketing Is More Cost-Effective Than Traditional Marketing:
Most small businesses don’t have many resources – so, they need to allocate them in the best way possible to maximize the outcome. According to the Gartner’s Digital Marketing Spend Report, around 60% of business owners claimed they were getting considerable savings when utilising online marketing, when compared to traditional marketing techniques such as newspaper and radio adverts. In addition, a HubSpot report also concluded that the cost per lead is roughly 61% less with online marketing versus traditional methods.
5. Easily Measure Your Results:
Measuring the results of a traditional marketing campaign can be difficult as you simply don’t know how many people saw your commercial on TV or listened to it on the radio. Because of this, you have no idea whether it’s generating positive results, or just wasting your time and money. However, with online marketing methods, you can use any of the following data to analyse your performance and identify areas in which you can improve:
- Amount of visitors to your website.
- Number of people subscribed to your mailing list.
- Number of returning customers.
- Client feedback and reviews.
- Amount of interactivity across your social media platforms.
6. Using Social Media Marketing
Social Media is, without any question, a powerful tool you can use to reach your audience. Social networks such as Facebook, Twitter and Instagram offer plenty of opportunities to grow your business. They allow you to create brand awareness by showcasing your product or service to your targeted audience, while interacting at the same time. Social media advert campaigns often appeal to business owners with a small budget and it’s easy to see why – The average cost per click with a social advert is $0.28, significantly cheaper than the average of all advertising types, which currently sits at $1.58.
7. Get More Visibility:
Online marketing allows you to get more visibility across different online platforms. Visibility on search engines, commonly referred to as SEO, is an incredibly crucial part of any online marketing plan. When someone searches for something related to your product or service, they should be able to find you without having to scroll past a handful of your competitors. Over 91% of Google users will not venture past page 1 of search results, causing a website to miss out on large amounts of traffic and income if not ranked highly.
8. Online Marketing Works Even With Small Budgets:
Most small and medium sized businesses don’t have the same budgets as big companies, putting them at a huge disadvantage when using traditional marketing methods. However, with online marketing, you can a generate a good ROI even on a tiny budget. When you have many techniques available such as email marketing, Social Media Marketing, content marketing or simply creating a website, you can effectively compete without breaking the bank.
As you can see, online marketing has evolved and allows you to connect directly with your prospects and customers in an easy and affordable way. You’ll be able to reach a wider targeted audience and engage with them, something you could not do with traditional marketing methods. As a business owner, the most powerful tool you have at your disposal is social networks. If your business doesn’t already have a presence on social media, creating a profile on Facebook, Twitter and Instagram would be a great place to start!