———————————-Guest Post by Ryan Del Villar———————————-
Due to an upsurge of internet use and the ballooning rate of users throughout the world, businesses—big or small—have started capitalizing on this new medium of information delivery. New media marketing and advertising is fast catching up with traditional marketing as a preferred approach due to its potential reach, effectiveness, and cost-efficiency. But should your business invest in your own online marketing campaign? Let’s take a look at two sides of the same coin.
Why Invest in Online Marketing
First, let’s talk about the advantages of investing in an online marketing campaign:
Reach a wider audience
With online marketing, businesses can reach markets anywhere in the world. You can see how developing countries emerge as top mobile users and online consumers in recent years. With increasing awareness on the advantages of shopping for products online, you now have the potential to reach your market in proportions you never before imagined possible.
Multiple strategy system
Online marketing can be done using a variety of online media channels and marketing methods. Advertisers are given the freedom to formulate a strategy that works in accordance with their business model and marketing goals.
Low advertising costs
Online marketing is much cheaper as compared traditional marketing and advertising strategies. Conventional methods such as shooting TV commercials or publishing print ads can cost a whole lot more than online marketing.
In television or radio, you need to pay expensive airtime fees for your ads to be viewed by the public. In online marketing, you just have to pay a minimal fee (and sometimes it’s free) to get your ads live on blogs, Google, and many other places in the web.
Because of the potential to reach a global audience, online marketing definitely increases your chances of meeting your business goals and marketing targets—with much less effort and budget as opposed to conventional media channels. It is also easier to measure the effectiveness of your marketing campaigns online, as compared to conventional media.
Now, let us talk about the possible downside of investing in online marketing:
When customers’ expectations aren’t met
Online marketing makes it easier to reach more people—but this also works as a double-edged sword. Customers can also reach you or talk about just as easily, and you might not always be spared from negative comments and feedback. While such things can happen even to the biggest brands, such liberties demand business owners to be more accountable, transparent, and sincere.
Let’s look at e-commerce websites as an example. A website may promise to provide hassle-free shopping experience to customers, as well as easy payments through credit cards or third party payment providers. However, it doesn’t allow customers to return or refund merchandise under any circumstance. Most likely, such a policy will result in a string of unsatisfied customers, who can spread word about their unpleasant experience through their own social networks. This, obviously, is bad for business.
PPC (pay-per-click) and paid online ads can give you fast gains but are not recommended if you are looking for a more sustainable advertising solution. SEO (search engine optimization) can be beneficial for long-term brand awareness, but it is a process that takes a while to shows results.
Torn between investing too little or too much
There are no surefire SEO and online marketing methods. Strategies are different for every business. On top of this, the online marketing landscape changes all the time. So should your campaigns. As a business owner, you don’t want to be investing too much nor too little—but it can get quite tricky finding out which way you’re going.
Whether you think online marketing can be a benefit or difficulty, the main goal is to formulate a marketing strategy that can help your business grow and gain more customers. Online marketing may be the best way to promote your product, brand, or service in the internet age, but this does not immediately mean that you should forget about traditional forms of media.
A lot of businesses have successfully made traditional and new marketing channels work for each other. You can do it too, if you know your market well enough to formulate a strategy that can create the biggest impact.
Ryan Del Villar is a writer and online marketing specialist at Money Max, Philippines’ leading online comparison portal. Ryan is also a freelance writer at Helm Word, an Online Reputation Management company. He worked as an online video editor before he started his writing career.