What Is Internet Marketing?
Internet marketing encompasses just about everything you do on the internet to promote a business, product, or service. Various internet marketing strategies can have an end-goal of driving leads, boosting traffic, or even converting sales. Because the internet has become so integral to our daily life, it’s opening up the limitless potential for marketers on a global scale. Below, we will be going over more on what internet or online marketing is, its many benefits, and some effective strategies to implement it.
More Information On Internet Marketing
As of April 2020, there were over 4.5 billion total internet users . This is nearly 60 percent of the entire world’s population. As you can probably tell, the potential for acquiring new customers and effectively advertising to existing customers is significant.
Why Internet Marketing?
1. Reach More Customers
One of the most significant benefits of online marketing comes with the ability to break down logistical barriers. As the world becomes much more of a global economy, the internet is providing small and medium-sized businesses with the means to reach customers on a global scale. The internet has widened the potential market of businesses everywhere by allowing them to connect with people outside of their local area.
2. Better Targeting
Online marketing offers strategies that enable business owners to effectively target a specific demographic. This alone can increase the profitability of a business’ marketing budget because they can target those most likely to convert into actual customers. A lot of the pitfalls associated with offline marketing comes with the inability to target as well as you can utilizing online strategies.
3. Better Tracking
Being able to track the success and failures of your marketing strategies can make or break your ability to minimize losses and maximize successes. Almost every online marketing strategy gives you the ability to track your campaigns effortlessly. This can give you accurate data to analyze to improve your marketing and advertising efforts. By being able to optimize your marketing strategies and individual campaigns, you can improve the profitability of your efforts. For instance, with Pay-Per-Click (PPC) advertising, you are able to track your most profitable keywords and keywords that don’t convert well. This can effectively allow you to reduce your spending on unprofitable keywords and pump more of your marketing budget into profitable keywords.
Effective Internet Marketing Strategies:
1. Search Engine Optimization (SEO)
Search engines have become an integral component of an effective online marketing mix. After all, many consumers use search engines on a daily basis for various reasons. More importantly, they use search engines to research businesses and brands and identify products or services they are interested in. In fact, a focus group revealed that 65 percent of North Americans use search engines to make a purchasing decision . As you can probably tell, as a business, this is significant. After all, if your business is not capable of being found by ready and willing buyers, you are losing out on a significant amount of potential market share.
2. Pay Per Click (PPC) Advertising
PPC is a very popular online marketing strategy. It is popular for good reason. After all, it happens to be one of the most profitable strategies you can invest in. As a business, you bid on prospective keywords within your industry. Ideally, you want to bid on “buying keywords” that a prospective customer would use in the search engines when researching a product or service to buy. PPC is so widely used and effective because it can send you ultra-targeted traffic as soon as you start the campaign. Best of all, you can set a specific budget and have your advertisements stop as soon as you hit it.
3. Social Media
Social media has become an integral component of day to day life for everyone. You will be hard-pressed to find someone who doesn’t use social media daily. There are various social media platforms that people actively use and a lot of them lean on their network to make buying decisions. A survey showed that 72 percent of Instagram users made a fashion, beauty, or style purchase after seeing something on the platform .
As you can see, there are countless online marketing strategies that are used daily with great success. The strategies above are only a few of the effective internet marketing strategies out there. The importance of internet marketing cannot be understated. In order to compete in today’s digital marketplace, you must be actively investing in your own internet marketing efforts.