Online marketing is important because it aligns with the way consumers make purchasing decisions. Studies by analysts such as Gartner indicate that increasing numbers of consumers use social media and research on the mobile internet to carry out preliminary product and price research before making final decisions. Online marketing enables you to build relations with customers and prospects through regular, low-cost personalized communication, reflecting the move away from mass marketing.
Internet marketing enables you to be open for business around the clock without worrying about store opening hours or overtime pay for staff. Offering your products on the Internet is also convenient for customers. They can browse our online store at any time and place orders when it is convenient for them.
By marketing on the Internet, you can overcome barriers of distance. You can sell goods in any part of the country without setting up local outlets, widening your target market. You can also build an export business without opening a network of distributors in different countries. However, if you want to sell internationally, you should use localization services to ensure that your products are suitable for local markets and comply with local business regulations. Localization services include translation and product modification to reflect local market differences.
Marketing products on the Internet cost less than marketing them through a physical retail outlet. You do not have the recurring costs of property rental and maintenance. You don’t have to purchase stock for display in a store. It’s possible for you to order stock in line with demand, keeping your inventory costs low.
Internet marketing enables you to personalize offers to customers by building a profile of their purchasing history and preferences. By tracking the web pages and product information that prospects visit, you can 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.
The Internet provides an important platform for building relationships with customers and increasing customer retention levels. When a customer has purchased a product from your online store, you can begin the relationship by sending a follow-up email to confirm the transaction and thank the customer.
Emailing customers regularly with special, personalized offers helps to maintain the relationship. You can invite customers to submit product reviews on your website, helping to build a sense of community.
Highly Adaptable to Multitasking
One of the core advantages of online marketing is the ability to attend to millions of customers and consumers simultaneously. Once the infrastructure is efficient, huge numbers of buying and selling transaction take place within your virtual estate without diminishing the satisfaction of each customer purchasing various items.
Residual and Continuity Effect
One of the great benefits of online marketing is its inherent residual effects. Content marketing on websites and blogs remains functional and working to promote your products and services years after the marketing campaign to the content or products is over. E-book marketing produces long-term and viral effects after the production. For instance, if you run a campaign to improve traffic to your landing page, the residual power of such marketing remains effective years subsequent to the campaign might have been stopped.
All-Hour Based Marketing
Internet marketing is all-hour based. Your marketing campaigns run 24 hours a day, 7 days a week. You aren’t constrained with opening hours, neither are you to consider overtime pay for staff. Regional or international time variation/difference doesn’t affect the availability or reachability of your online ad copy campaign and offer. Anytime an individual opens a computer connected to the internet, s/he’s tendency to see your marketing campaign as opposed to usual traditional offline marketing. Customers search the products offered at their convenient time as long as they like – no haste, no fear of closing. The users own the opening and closing hours for shopping.
Online Marketing is Cost-Effective
Internet marketing involves less or no start-up capital. You might start blog marketing, social media marketing, email marketing with less investment compared to traditional marketing which greatly lies on the factors of production – land, capital, labor, entrepreneur. These are not prerequisite to online marketing and translate to a reduced cost of production, advertising, and marketing since no money is incurred on staffing, procurement of business premises and middlemen. Offline traditional marketing like newspaper, radio, television, and billboard ads may cost thousands of dollars while the fraction of such costs can run PPC advertising on Facebook, Google, and other PPC companies.
Online Marketing Helps You Take Advantage of Social Media
Social media is growing in importance every day. Internet marketing allows you to leverage this. The link between online revenue growth and social networking was highlighted in a recent study by the Harvard Business School’s Executive Education area.
The study found that there were increased sales of about five percent generated by those consumers who reported that they were most strongly influenced by social networks. By incorporating social media tools in your internet marketing campaigns, you can take advantage of this type of influence and watch your profits soar.
Online Marketing Is Measurable
With the use of web analytics and other tracking methods, internet marketing has become a reliable marketing and advertising tool employed to track campaign performance and measure its marketing effects. It empowers companies with the competence to trace, monitor, calculate and analyze all aspects of their online marketing campaigns. Basically, all that frustrating guesswork of most traditional marketing initiatives is removed as it empowers advertisers to carefully alter and improve their campaigns based on the measured results.
Advertising to Target Markets
With the help of internet marketing services, you can easily target ads based on many factors including gender, location, age, and interest. You can create an advertising or marketing campaign by targeting these factors or combining them to establish a target market. You can easily make target advertisement for a product or service. For example, if you are offering a savings program, you might target young people or those who wish to have a long saving plan. However, a retirement plan will target older people who are close to retirement. And, with internet marketing services you can achieve all this.
Internet marketing has emerged as one of the best techniques to take your business online and mark your online presence. Services like e-mail marketing, banner advertising, affiliate marketing, Pay per click and Social media marketing helps business owners to launch their business over the World Wide Web.