Advertising and marketing your business can be an expensive process, which is why many business owners rely on word of mouth to promote their businesses. While this can be effective, it will take a while to build up your clientele with this approach.
Online marketing can deliver impressive results on a small budget if planned and performed effectively.
Consider these benefits of growing your business with online marketing:
1. Track your return on investment (ROI) accurately.
Sometimes it can be difficult to track your return on investment using traditional marketing methods like print or billboard advertisements.
With online marketing, you are able to track your ROI using tools such as Google Analytics, which can detail how much traffic and sales each of your online advertisements has generated.
2. Make quick sales and profits.
It’s possible to see quick sales and profits using Pay-Per-Click (PPC) marketing. PPC marketing allows you to show specifically tailored ads to targeted customers by choosing specific keywords.
Your ads will then be shown when anyone searches for that particular keyword on a chosen search engine, such as Google for example.
While there is potential for quick profits, there is also a risk of heavy losses if you don’t set up the ads effectively. When you’re new to PPC advertising, it can be highly beneficial to seek the advice of an expert.
Ads are great for getting started without an email list or any type of following, but ultimately it’s best to build your business on a foundation that isn’t completely reliant on paid advertising.
3. Promote your products and services for free.
Search Engine Optimization, or SEO, is more of a long-term approach, but if done correctly, your website can appear at the top of the search engines for free. This will ensure that many targeted prospects will see your website.
While this approach can be free, it can be competitive, so many companies pay an expert to optimize their website to ensure that top spots are achieved. If your website does a good job of converting visitors to sales, even paying an expert to get that top spot can be well worth it.
4. Create a loyal customer base.
Since your website never sleeps, you can be growing your business 24/7 with online marketing. There are millions of internet users that frequent the internet on a daily (and nightly) basis.
If you can reach out to these people and deliver real-time feedback and interaction, you’ll be able to build brand reputation, recognition, customer loyalty, and new customers.
As your customer base increases, so will your sales and profits.
5. Target multiple devices.
Most people are now using their mobile phones to access the internet. However, this doesn’t mean that you should quit targeting desktop and tablet users. Online marketing will enable you to target multiple devices.
When creating your website and ads, you have the option to choose who you are targeting and what they like. Targeting their devices effectively will help to bring higher conversion rates.
6. Make yourself a local company, globally.
With online marketing, you can promote your local business and services around the globe. It’s like the whole world is now in your backyard!
The internet is a powerful tool that offers almost endless opportunities for your business. With online marketing, you can build an audience, engage with your potential customers, make more sales, and enjoy greater profits.
7. Micro-Influencer marketing
Micro-influencers are people who have an audience between 1,000 and 60,000 and are generally the best type of marketing available online. More often than not, micro-influencers will have a loyal following of engaged customers who are just waiting for product recommendations from their favorite influencers.
The response and conversion rate is generally much higher than other forms of marketing, and micro-influencers will often accept trades, free products or low rates in exchange for mentions and reviews on their platform of choice. I recommend doing some research yourself on what platforms your customers hang out, and contacting influencers that directly correlate to your niche, product, or service.
Ideally, you should be using a combination of the above methods to build a customer base which would include paid advertising, influencer marketing, email marketing, and creating evergreen content on searchable platforms like YouTube, Pinterest or your own blog.
Building an online business takes patience and a clear strategy to implement effective marketing, but it can bring the bright future for your business that you dream of if you approach it right.