There are several ways and means of really bringing out the very best in an online marketing strategy. Understanding how online marketing works, develops from the beginning and grows is of vital importance. Below is an overview as to why online marketing is so effective as an advertising medium and the various tools that you can make use of to achieve the most desired results.
Online marketing is also known as web marketing, internet marketing, eMarketing or i-marketing. The term literally translates as “advertising online or on the web”. Online marketing is an interactive tool which can be used between marketers and the public at large.
Why Is Online Marketing So Effective?
Advantages & Benefits
The sole purpose of effective online marketing advertisements is to utilise a campaign strategy at the lowest possible cost and risk investment, in order to maximise sales potential and receive a high return on investment (profit).
Advantages and benefits include:
- Online marketing costs are somewhat inexpensive in comparison with other mediums. Cost effective design and well planned campaign strategies can reach a broader target audience (which can be viewed from virtually anywhere in the world) for a smaller price tag than most traditional advertising budgets.
- Online marketing allows consumers of the world to research and purchase services and products at their own pace and convenience. This is massively appealing to the many diverse societies of the world. People are also drawn in better if the option of choice is abundant and results are seen quickly.
- The overall success and effectiveness of an online marketing campaign largely depends on the business goals laid out, as well as cost volume profit (CVP) analysis (a form of cost accounting).
- Online marketing allows for statistics to be measured more easily and at a lower cost. Virtually all elements of an online marketing campaign can be traced and tested in some way, shape or form. Methods in which this can be done include pay per impression (CPM: cost per thousand viewers), pay per click (PPC: a host company is paid every time an advertisement is clicked on), pay per play (PPP: pay per audio advertisement played) or pay per action (PPA: an advertiser pays for a specific action related to an advertisement, such as a form submission or a purchase). Web analytics are also a useful tool in being able to effectively track the exposure, response and overall efficiency of online marketing by collecting, analysing and reporting back internet data. Here, advertisers can determine the best return on investment (ROI). 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 other target actions.
- Pay per click advertising is notably the most effective means of generating immediate traffic to a website. Advantages of this form include only paying when a user interacts with an ad (clicks on it), the source of traffic can be easily tracked as well as identify which ads are achieving the best result in a campaign, and targets an audience more specifically (ads appear when a web user searches for keywords that are relevant to a specific company or business).
- Online marketing campaigns can be implemented much faster than traditional forms of advertising, reaching a targeted audience within a matter of days and in some cases, hours.
- Online marketing provides a greater flexibility level whereby campaigns can be altered to test new markets, evaluate new programmes and make changes more specific to a targeted market.
- Search engine optimisation (SEO) companies who specialise in helping companies best 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, MSN and Yahoo. This will ensure that competitors are kept at bay (at a lower level on a search engine website), with the sole aim of generating quick and efficient sales or services, as well as increasing a profit ratio.
Effective Online Marketing Tools
Tools that can be used to make an online marketing campaign at its most effective include:
- Domain name – website addresses should be unique, simple, short, and memorable, as well as strongly reflect what a company stands for and intends to offer their target audience. This is essentially a company’s very first online marketing tool. If the name chosen isn’t memorable and reflects the nature of the company, it is not likely to achieve success.
- Content – better content makes for abetter website. Content should be packed with keywords that search engines can easily pick up on when a web user is online. Keywords in online marketing are truly a quality tool as this is what will draw a targeted audience onto your website.
- New material and updates – constant and consistent updates whereby new information is added will give your website content more bulk that has the added benefit of enticing viewers to return. Improvements will by no means go unnoticed by the public at large.
- Simplicity – by keeping things simple and concise, a targeted audience doesn’t feel that their time is being wasted, as in today’s fast paced society, time is of the essence.
- Marketing your website – advertising your website on other websites such as Zeuzzo or doing AdSence can greatly create more awareness of a company’s brand, services or products.
- Blogs – are fast becoming essential tools for online marketers as they can build a content rich website, as well as attract targeted traffic from all major search engines.
Online marketing is a collaboration of elements that produce a successful web based advertising strategy or campaign. Identifying the tools needed and making the most of them requires an enormous amount of skill, practise and expert thinking minds. The work that is put in ultimately determines the level of success that will be achieved.