In today’s millennial society, online marketing becomes necessary for every businesses – both big or small to produce online presence that would attract more consumers. It goes beyond having a lavish website for your company or business.
Why? To increasingly reach wider audiences and step-up the sales.
I heard my friend asked me, why do I have to put my business online? Why do I need to sell my products online while there are too many competitors out there and why not use a traditional store or physical outlet instead?
The question isn’t about having an online platform for your business, but rather, how to convincingly use that platform to bring in sales.
The internet has opened opportunity to a whole advanced digital economy which a lot of consumers prefer over the traditional brick-and-mortar outlets.
“According to sales forecasts generated by eMarketer, retail eCommerce sales are expected to reach $4.058 trillion by 2020 worldwide. This figure reflects the increasing trend of online shoppers.”
Regrettably, a lot of businesses are not aware of the importance of online marketing and many don’t want to spend enough time towards creating a digital marketing strategy. Business success is all about giving customers exactly what they want with ease. Leading firms across the globe are ahead of the competition for a reason; they know how to tap into evolving eCommerce markets led by internet-savvy consumers.
So, the real question isn’t about having an online platform for your business, but rather, how to effectively use that platform to bring in sales. So, let’s discuss a few reasons why your business should consider online marketing:
Reasons Why Your Business Needs Online Marketing
More people are now online.
According to PwC Total Retail Survey 2016 that 54% of consumers buy products online on a daily, weekly or monthly basis. This figure is expected to spring up by 2020, reflecting the increasing time spent by customers online. Online consumers are transforming shopping trends and creating more opportunities for businesses worldwide. So as a business owner, would it be a wise decision to let go of ever-increasing online sales opportunities? Whatever industry your business operates in, it is necessary to create an online image that appeals to customers. At the end of the day, you want to increase your sales both through online and on-store mediums. So why not take advantage on your online presence?
Your competitors are doing online, so you need to do it too and do it way better.
Your business is in awfully competitive environment where the aforementioned idea of online marketing is not even an option. A competitor analysis will show you how many of your rivals go for online marketing channels. The strategy is to do it better than them; it should be way better. Digital marketing tools offer a lot of options to exercise with online commerce and branding. Your work is to make an online marketing plan that will fit your business ideology, will persuade customers and will not exceed your budget.
Online Technology evolves and grows fast.
Business growth is crucial. If your business is not growing, you are having no alternative but to fail sooner or later. In order for your business to grow, you need to promote your business and widen your market imperceptibly. You can’t entrust on outmoded marketing tools to give you that global reach. Online marketing can give you a first crack and then let you expand your business. Especially for small or medium sized businesses, online marketing offers greater chances to increase sales, build a brand and reach out to potential customers.
Now we can conclude that online marketing offers far more benefits than that of traditional marketing. For business which are still new to the digital world, help is always around the corner. If you think you don’t have the right experience or resources, you can join hands with a professional digital marketing team and have everything sorted out for you. There are multiple digital marketing companies which offer services to help guide and navigate businesses online. Advancing technology is another reason why it’s time to move on and explore the potential of online marketing.
Helps to build a brand reputation.
Branding of your business is important for a long term business success. Customers may or may not recall a product or service, but are most likely to associate brands with their shopping experience. One small mistake can give your business a bad name in the market and in the minds of your customers. A brand is a perception of a business which stands in the minds of your customers. It takes several years to build a positive brand image. However, online marketing is helping new and small business to quickly position themselves in the market and move towards strong brand building. Through online channels, you can boost and build memorable user-experiences which add to brand building. Remember, branding isn’t just selling a product or service, it is a combination of buyer commitment, before and after sales services and value-for-money.
Targeting the right consumer is much easier online.
Pretty sure that for every product or service, there is a consumer somewhere out there. Bygone are the days when one-size-fits-all marketing approach seemed the best. In today’s millennial, a more customized and rigor marketing strategy are needed. How do you search for these customers and level your product offerings? Online marketing is the resolution! With so many online approach and social media platforms, you can target specific markets anywhere across the globe. For Instance, Facebook, Twitter and Instagram let you find bull’s-eye consumer groups based on demographics, interests, geographical regions and more. This means you can promote your products to the exact customers and boost your sales potential.
Online marketing is most practical or cost-effective.
For sure, not all businesses have that big source of funds or budget for their marketing. Smaller businesses seem to labor the most when it comes to allocating budget for marketing purposes, which sometimes makes competition quite one-sided and unfair. The ONLINE world seems to offer equal freedom and fighting chance to all businesses no matter what the size, budget or location is. Just find the right online tools and services such as content marketing, Search Engine Optimization (SEO), local listing management, and Social Media Marketing to position your business online. Traditional advertising channels such as billboards, TV or Radio can cost you a gold mine and there’s no guarantee that it might be impressive. However, online marketing is not only cost-friendly, but it is more sociable and reachable across the globe.
Interact with your customers and learn
Customer demands are regularly fluctuating and to stay at the top, you must meet the continuously changing consumer preferences. This means, as a business owner, you must also be constantly refresh and aware of what your consumers are looking for, what they need and want, what they like and dislike. The knowledge is important for marketing goals and making start for future product offerings. Traditional marketing methods are usually one-sided, where information in the form of images or text is placed on mediums for audience to view, offering almost zero-synergy. While digital marketing offers a lot of consumers interaction and engagement opportunities. Through social media platforms, you can reach out with your audience (prospective customers), gain judgment on their choices and build a better digital marketing plan.
So, what’s holding you back? Take lead and gear your business towards success.