Radio used to be the go-to marketing vehicle for business advertisements. Now, the internet has replaced the former as the cheapest but most effective marketing tool for almost every business.
While it’s true that the internet has been a solid place for marketing, you can never deny what radio has done in terms of marketing. The only reason the internet has taken over most of the marketing strategies is the fact that technology and marketing are practically inseparable. If marketing wants to advance, it has to advance with technology. Since today’s technological trends revolve around the internet, the marketing industry has to change along with them.
By the mid-2000s, the behavior of digital marketing has changed the dynamics between buyer and seller dramatically. Users started researching products online before even talking to anyone in person. Suddenly, a lot of other supporting marketing tools have turned up. For example, audio and video content are now necessary to help effectively support marketers. Customer support has to be very good for many companies to succeed, and written content is absolutely necessary.
Fast forward to today, where the prevalence of social media is unstoppable, and it is a commanding force as a marketing tool. Everything has fallen into place, and social media networks as well as other types of websites have taken over the marketing industry and brought it to another level. Search Engine Optimization and other marketing-based internet tools have also become business necessities, as the technology keeps on improving and improving. Some examples of the rising technologies in digital marketing include:
- Search Engine Optimization (SEO)
- Social Media Advertising
- Email or Newsletter Marketing
- Affiliate Marketing
- Banner Advertising
- Rich media ads – interactive media such as online video directories
The question now is, how is it that digital marketing is so effective?
It’s faster: Online marketing campaigns can be implemented way faster than traditional forms of advertising. With this marketing vehicle, you can reach your target audience in a matter of days and in some cases, hours. Given the right technology and the right tools, any type of business can become trending online, and as such, increase reach and profit. At the end of the day, what you really want in your marketing activities is to reach a high volume of people as fast and as often as you can.
It’s more convenient: Internet marketing is not limited by time as to when and how often it should promote your business. As such, it enables businesses to be up on your screen at any time of the day. It’s ready for business around the clock without worrying about store opening hours or overtime payments for staff. Customers can browse your online store at any time and place orders when it is convenient for them. This allows you to break the boundaries of having to “open your shop” for only eight hours per day.
Digital marketing is more flexible: Surely, digital marketing gives you more flexibility in terms of what you can do to with you advertising. Since everything is done digitally and virtually with this tool, online marketing campaigns can easily be modified as needed. You can test new markets, evaluate new programs and make changes that are more specific to your target market. For instance, once feedback is given to you by your clients, staff or even industry spectators, you can easily address them right away with relatively minimal work done.
It can give you way more reach: Man’s reach can exceed his grasp, but through internet marketing. Businesses can have an almost infinite marketing reach to their target audiences. You can sell goods in any part of the country without setting up local outlets, effectively widening your prospective customers. In the same way, you can also build an export business without opening a network of distributors in different countries. Generally, your seemingly endless reach removes the boundaries on what you can do with your business and its expansion.
Existence of SEO: Imagine your product or business always coming up on top of every related Google search. Search Engine Optimization (SEO) companies who specialize in helping companies market their products and services online can successfully place them on the top or first page of major search engines and directories such as Google, Bing and Yahoo.
It’s more personal: Internet marketing can enable businesses to personalize offers to customers by building a profile of their purchasing history and preferences. Through tracking the behavior of online searches and preferences of a targeted audience, you can then make targeted offers that reflect their interests. The information available from tracking website visits also provides data for planning cross-selling campaigns so that you can increase the value of sales by customer.
Digital marketing is cost effective: Advertising online offers one of the most cost-effective methods of marketing available. Business owners are able to create, deliver and execute an online marketing campaign to a full spectrum of viewers, spending only what’s necessary in order to reap maximum rewards later on.
Marketing products on the internet costs less than marketing them through a physical retail outlet. You do not have the recurring costs of property rental and maintenance. You do not have to purchase stock for display in a store. You can order stock in line with demand, keeping your inventory costs low.
It can generate valuable data: Online marketing allows for many statistics to be measured more effectively and easily at a much lower cost. Virtually all elements of an online marketing campaign can be traced and tested in some way. Tracking and measuring can be done almost instantaneously since online marketing encourages interaction by clicking on the ad and visiting the website, as well as any other target actions.
Online marketing helps in closing in on customer proximity: Online advertising enables marketers to get close to a targeted audience, and thrive in that sweet spot. Internet consumers are growing in numbers and staying online for longer periods. Since internet consumers are adapting their lives to suit what’s immediately available to them, online marketers are able to capitalize on providing opportunities that enable instant payoff.
It helps with customer retention: In business, there is a big emphasis on customer retention. Given this important entrepreneurial element, it is highly beneficial for you to opt for digital marketing since the internet provides an important platform for building a lasting connection with customers and strengthening your business’ customer retention. When a customer has purchased a product from your online store, you can follow-through with your clients by sending an email to confirm the transaction and thank the customer. Also, emailing customers regularly with special, personalized offers helps to maintain that business-client relationship.
It gives a more human touch to your brand: Internet marketing enables you to take advantage of the growing importance of social media. Doing so allows you to create more relatable human connections to your clients. An article on the Harvard Business School Executive Education website highlighted the link between social networking and online revenue growth. According to the article, a group of consumers that responded most strongly to the influence of social networks generated increased sales of around 5 percent. You can take advantage of this type of influence by incorporating social networking tools in your internet marketing campaigns.