Advertising and marketing your business can be an expensive process, which is why many business owners rely on word of mouth marketing (WOM) to promote their businesses. While this can be very effective in lead generation and sales, it will take a while to build up your audience with this approach. Online marketing is a must in 2021, and can deliver impressive results on a small budget if planned and executed effectively.
Consider these benefits of growing your business with online marketing:
- 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 outdoor (billboard) advertisements which in 2021, are not cost-effective or practical for most businesses.
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 and provide detailed insights on what’s working, what’s not, and what consumer want.
- 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.
- 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 with minimal investment. 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. In my online course, Ready for Launch, we review SEO best practices and how to maximize your search presence.
- Create a loyal customer base. Since your website never sleeps, you can be growing your business 24/7 with online marketing.
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. There are many ways to automate your website and social media leads so even when you’re not working, or even asleep, potential customers can get questions answered and you can make sales.
- Target multiple devices. Mobile devices – phones and tablets – are the primary browsing device for most. However, this doesn’t mean that you should quit targeting desktop 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. Make sure your website and landing pages are optimized and responsive so they are user-friendly across all devices.
- Make yourself a local company, globally. With online marketing, you can promote your 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. Online marketing can bring the bright future for your business that you dream of.