Internet marketing is a form of advertising that leverages the power of the internet as a means to attract new customers. In 2017, internet marketing revenues in the US totaled $83 billion and is expected to continue making double-digit growth. This is exactly today’s discussion will revolve around why internet marketing is important for your business.
The most commonly reported reason for businesses migrating to internet marketing is its relatively low cost when compared to traditional advertising such as newspaper advertising and print media advertising. There also means fewer middlemen driving up the cost for the end consumer.
Ability to quantify results
Online advertising even in its most rudimentary form, allows you to track results in ways that traditional forms of advertising never could. In addition to giving nearly real-time access to how many potential customers are viewing your ad, it also offers a glimpse into the demographics of those who are showing interest in your ad, as well as their geolocation, which could be used as a proxy to their education, income level, etc.
Not only can you get a sense of who shows interest in your ads as previously mentioned, but you can also target your advertising to a specific demographic. Alternately, you could target different products to different demographics, based on attributes such as age, income, etc.
Engage with Customers on Social Media
Where internet marketing really shines is in the way in which it allows you, the business owner, to engage with your customers, and earn their trust even before meeting them face to face. This has really been facilitated by the advent of social media, where businesses build their customer user base through outlets such as Twitter and Facebook, where loyal customers engage with their favorite brands by liking and sharing their page or tweeting at them.
Not only does social media allow businesses to engage with their customers, but it can be used to exhibit social proof in the form of satisfied customers who will be happy to vouch for your products and services. If the said customer has a large social media fan base themselves, this effect will be further amplified relative to the size of their fan base.
Marketing your business can take on a very multi-faceted approach consisting of a variety of mediums, but in the modern digital era, it would be greatly advised that you make sure to also utilize internet advertising as a way to market your business to new customers, while taking advantage of the cost savings, as well as the built-in features such as customer targeting, enhanced tracking, etc.