Traditional marketing tool Over the years, many brands and businesses have started to adopt Internet marketing much more extensively than traditional mass media marketing.. Internet marketing has been successfully aligning with how modern consumers today have changed their purchasing behaviors. The studies indicate that consumers now rely more on what they have learned and researched from the Internet and social media before they make any final purchasing decision. Gartner predicts that by the year 2015, 80% of consumers’ spending decisions will be influenced heavily by mobile marketing and social media marketing. The PROs Of Full Internet Marketing Campaign Internet Marketing Can Reach Targeted Customers More Effectively
Transcript
Traditional marketing tool
Over the years, many brands and businesses have started to adopt Internet marketing much more extensively than traditional mass media marketing..
Internet marketing has been successfully aligning with how modern consumers today have changed their purchasing behaviors. The studies indicate that consumers now rely more on what they have learned and researched from the Internet and social media before they make any final purchasing decision. Gartner predicts that by the year 2015, 80% of consumers’ spending decisions will be influenced heavily by mobile marketing and social media marketing.
The PROs Of Full Internet Marketing Campaign Internet Marketing Can Reach Targeted Customers More Effectively
One of the key characteristics of full Internet marketing is that these digital marketing tools were
designed to target specific sets of customers or audiences. Unlike traditional mass media
marketing where advertisements are broadcasted to anyone, even those who do not like or are
not interested in a particular product or service. Internet marketing which is a form on inbound
marketing attracts targeted customers who are specifically looking for the brands, products or
services a particular digital marketing campaign is focused on.
Internet Marketing Delivers Immediate Results
eMarketer reported that real-time marketing tools can bring businesses more benefits than
other tools. Internet marketing is characterized with real-time interactions that can connect your
business much more effectively with targeted customers. What you get are immediate results for
your marketing efforts. The results are above-average conversions to either leads or sales every
time a targeted customer visits your landing pages or websites as outline in the graph below from
the 2013 State of Inbound Marketing Report from HubSpot.
Internet Marketing is Cost Effective
Compared to traditional mass media marketing, Internet marketing is much more cost-effective.
Internet marketing also does not require ridiculously large amounts of investment as what
businesses have done in the past with mass media marketing. Internet marketing channels are
cheaper compare to traditional media channels, and in many cases websites can generate traffic
even for free.
Some businesses also need not spend huge amounts on property rentals, maintenance fees,
and overhead costs for stock rooms as products can be drop shipped directly from your supplier
to your end customer. Gartner’s Research Director Adam Sarner indicated that more and
more people are relying on mobile and social media marketing for their purchasing, leaving mass
media marketing a mere 2 percent response rate. The chart below from HubSpot highlighted
that up to 27% of digital marketers reported that they spend the lowest total average lead costs
on social media and email marketing, with other Internet marketing tool delivering the same
results as compared to traditional forms of mass marketing.
Internet Marketing Can Reach a Wider or Even International Audience
Since most Internet marketing activities are done online, businesses are not bound by brick-and-
mortar limitations when it comes to reaching out to a wider audience, allowing businesses to
reach and interact with targeted customers more than they could ever will using traditional
marketing methods.
Internet Marketing Results are Measurable
Unlike traditional mass media that register vague metrics or inaccurate survey results from a
sampling of the actual target population, Internet marketing results are easily measurable and
available in real time. Each click or visit to a landing page or websites, sign ups, and online
purchases can actually be measured very accurately allowing digital marketers to easily gauge
which particular Internet marketing tool will work for them and bring the best results. On top of
that, Internet marketing analytics data can also give digital marketers a better insight about their
targeted customers purchasing behavior among other things.
Internet Marketing Can Be Personalized
Not only is Internet marketing highly targeted, offers and programs can be customized or
personalized based on the profiles and other consumer behaviors your targeted audiences
exhibit. This will give your customers better value for what they have paid for as well as a better
insight of the kind of products and services your customers need and are looking for – which your
business can provide or develop.
Internet Marketing Helps Build Relationships
Traditional marketing is one way and there is very limited or no interaction between an advertiser
and the end customer. With Internet marketing, engagement is the key and being able to interact
with targeted customers in real time can help build better customer-supplier relationships, build
higher levels of trust, and generate great customer loyalty that benefits both the business and
their clientele.
Internet Marketing Can Leverage the Power of Social Media
In an article from the Umass Darthmouth, it was reported that One third of the companies listed in the Inc. 500 report the ability to financially determine the return on their social media investment. The popularity of social media networks have come to a point that
they have become very influential in swaying online consumers’ buying patterns and decisions –
a fact that businesses can take advantage and leverage heavily upon in their Internet marketing
strategies and campaigns.
Internet Marketing Levels The Playing Field Between Large and Small Businesses
With Internet marketing, the difference in the size, number of manpower and available resources
are not the main factors anymore in bringing success and revenues through your marketing
campaigns. How effective and correctly you use Internet marketing channels will generate the
results you need, leveling the field that have allowed small and upcoming companies compete
with the big boys.
Internet Marketing is Available 24/7
The World Wide Web never sleeps and so does Internet marketing, allowing business with little
resources to sustain a physical 24-hour operations to compete in the digital marketplace using
Internet marketing tools that can run virtually 24 hours a day and 7 days a week.
The CONs of Full Internet Marketing Campaign Internet Marketing Campaigns Can Be Copied
One of the dangers in Internet marketing is that a particular campaign can easily be copied by a
competitor. Trademarks or logos can be used to defraud customers and take away a sizeable
market share from you. Not only that, these can also be used for perpetrating negative and
erroneous information about your brand, product or service that will ruin your online reputation –
and lose valuable targeted customers.
Internet Marketing Can Get Drowned by Too Much Online Ad Clutter
The Internet is flooded by lots of online clutter. It would really be doubly hard for Internet
marketers to get noticed by their targeted customers. Some consumers now have the tendency
to simply ignore Internet advertising.
Internet Marketing Will Not be Taken Seriously if Not Done Professionally
Business owners and digital marketers should focus on bringing their Internet marketing
campaigns to professional levels, otherwise they will not be taken seriously by their targeted
customers. First impressions really matter whether you use traditional or Internet marketing and
advertising channels so it would be to your greatest advantage to stay consistent and
professional in whatever channel you are using for your campaigns.
Internet Marketing May Not Be Appropriate for Your Product
Some brands, products or services have targeted audiences that may not be reached by Internet
marketing channels. Some products and services target the elderly and only a few percentages
are tech savvy and may not have access or do not even know how to get online. If that’s the
case, you will only be wasting time and resources marketing your products or services through
Internet means.
Internet Marketing Involves Too Much Competition
Just like the proliferation of online ads, Internet marketing is faced with a great challenge
of too much competition. Digital marketers are scrambling to get into a better position for
optimum visibility for their marketing and advertising campaigns, and with the presence of
too much competition, will make it doubly hard and expensive to get the attention of
targeted audiences.
Internet Marketing Reputation Can Be Damaged by Negative Feedback
Digital marketing tools are prone to their perennial problem of negative feedback which can
damage your online reputation.
Internet Marketing Is Highly Dependent on Technology Which Can Be Prone to Errors
Digital marketing makes use and is highly dependent on technology. In many cases, technology
can break down and produce erroneous results that can severely affect your Internet marketing
campaigns. Non-working links to important landing pages, pay buttons that do not work and other
similar stuff like can ruin your hold of your targeted audiences and lose good business.
Internet Marketing Is Not Yet Embraced by All People
Lastly, not all people have already bought into the idea of Internet marketing, preferring to
choose or put more importance to products that they can actually touch before they purchase.
Many are still concerned and have serious doubts in the security of online transactions that they
fear going into one for business purposes. Focusing only in Internet marketing will prevent you
from reaching out to targeted audiences in this category which can still be very considerable in
terms of numbers.
As the Internet continue to evolve, new technologies in Internet marketing will emerge and will
define how products and services will be marketed in the near future. Getting a better
understanding of the power of Internet marketing by giving a comprehensive look at its
advantages and disadvantages will prepare business owners and digital marketers in years to
come.
THE PROS AND CONS OF SOCIAL MEDIA MARKETING FOR BUSINESS
In the last few years, Social Media has grown from being a mere digital channel for “socializing”
with other media, into one of the most powerful digital marketing tools for brands and businesses.
It has proven a very cost-effective way for promotion and advertising in a new, subtle and very
personal way that businesses are doubling their Social Media Marketing budgets during
the next five years.
Many businesses are jumping into the Social Media Marketing (SMM) bandwagon, many of
which are not even properly planning or assessing the effectiveness and the impact of SMM for
their companies and brands. In truth, there are two sides to the SMM coin. One promises
profitable success, particularly if SMM is done properly and effectively. On the other side, SMM
may prove detrimental to your brand, bringing in results that maybe opposite from what you
expected.
.
The Pros of Social Media Marketing for Business
Businesses going gaga over social media? You can’t blame them for Social Media Marketing
does have its perks, and the following will tell you why.
1. Social Media Marketing is Low Cost
One of the main advantages of SMM over traditional media advertising and other digital
marketing channels is the considerably lower cost that makes it very appealing for businesses.
The most popular social media networks are practically free to join and all tools for interacting
with other people are all available for free.
2. Social Media Marketing Caters to a Big Audience
One of the main advantages SMM has over traditional media marketing is that traditional
marketing only caters to a fixed audience (eg. regular magazine readers; TV viewers) while SMM
has the potential of reaching out to a very big audience that is totally unlimited in scope and
reach – from around the globe. This big audience is the main reason why 92% of digital marketers highlighted generating more exposure for their brands or business with their use of
SMM.
Social media marketing also caters to wide demographics regardless of sex, age, and social
status. Right now, a big 89% of Internet users that are aged between 18 to 29 years old are
actively participating in social media activities. That’s a big market if you are targeting your
products or services at this age range. If you’re targeting the 65 and older market, you can reach
up to 43% of them through social media marketing.
3. Social Media Marketing is Fast
If you have something to promote or have some news or fresh information that you would like to
share or inform to your target markets, you can rely on Social Media Marketing for fast action and
http://www.cheaptvspots.com/whytv.html (Importance of TV Ads)
Digital Marketing: The Past, Present & Future
The Recent Past: Rapid Rate Of Change For EverythingNew media adoption rate used to be “relatively” slow. TV was introduced in 1947, and its adoption (measured by percent of penetration in the population) plateaued after 50 years. By comparison, the Internet, introduced in the early 1990s, reached its peak penetration in less than half the years of TV. Although we don’t know where mobile Internet adoption will ultimately end, existing stats indicate a rate exponentially higher than that of its predecessors.
An extreme example is the 2013 YouTube video, Gangnam Style. Released in July of 2012, it received more than 1.9 billion views in eight months. This phenomenon shows the power of earned media and the possible rate of viral content distribution.
In the past two years, more than 90 percent of all data was created. It’s no accident that this exponential growth coincides with the introduction of mobile devices, which have increased the amount of information available about how humans behave online. No one had predicted the growth of data such as this.
The Present: Why The Sum Of Many Parts Does Not Equal A Greater NumberBut with all the hype around big data and multi-channel management, we still hear from marketing leaders that today’s software and computing platforms lack true integration capabilities and fall short in providing real-
time access to data. Cross-channel management between point solutions that optimize email, Web, social and mobile, is more a “hype” than reality.
Historically built for single-channel optimization, existing systems such as website management and analytics and email systems are built to handle relatively low data volumes. Moreover, most systems were not developed with the flexibility to integrate data and processes with other systems (i.e., CRM).
For example, data exchanges between marketing and other databases are done through hard coded APIs — which are expensive to build, easy to break and do not enable true real-time exchanges.
Finally, marketing applications interfaces were designed primarily for “content design” rather than big data analytics (such as those built as Business Intelligence tools). The very popular “drag and drop” interface, for example, works well for content and creative manipulation, but what if one needs to combine building algorithms, conditional rules and other data-driven elements to design? What would that interface look like?
While it is generally accepted that the future of business lies with E-Commerce and being able to integrate your physical business into an online reality, businesses will also need to shift their marketing endeavours to the online world. Some of the smarter retailers are already ensuring that digital marketing is an important part of their marketing mix. It is important to understand that digital marketing represents the fastest growing new channels of targeted communication, interaction, engagement and delivery for an organization's branding, communications and products and services.
According to Radha R, Executive Vice President at Mindtree, millennials buy differently than their predecessors, and they're also very good at tuning out the "noise" of traditional promotions. But they value word of mouth from close friends highly, which makes a strong, genuine social media presence critical for retailers. "Likes" and "retweets" and "shares" and "pins" are the new branding currency for retailers that will bring new younger customers into the fold. The question is, once a new customer is brought in, how do you ensure a continued and lifelong engagement? The key there is to create and maintain a relationship that is genuinely one of the best ways to ensure that is to use data to tell you what a customer's preferences are, and what kinds of offers are likely to attract them.
The point that Radha raised here is very important, young people or individuals born during the technological revolution or information age are becoming more and more sophisticated daily. These people will not listen to you with your traditional advertising, so how do you get them to listen. Just get involve in conversation they are already having, and the way this is done is through digital marketing.
A blog, a company's blog is very crucial; it is a medium where a company can share interesting information with their customers without directly selling to them. Social Media, email marketing, text marketing and Search engine optimization (SEO) are all very important if a company is to really take their digital marketing to the next level.
Consumers, especially the millennials has already shut off traditional forms of marketing. New ways need to be developed, one of the most underrated and underused digital marketing trend is that of Content marketing. I truly believe that Content marketing can really propel your business forward. Creating useful, insightful and interesting bits of information for your customers without selling directly to them is important. This makes your customers more intelligent and when they feel that way they reward you with their loyalty overtime. While content marketing has been around a very long time, its value is becoming appreciated more and more daily.
Digital marketing, as with e-commerce and everything online is the present and the future, and failure to adapt could have serious repercussions for companies. Every company should have a digital marketing strategy. Even small businesses are not excused, while companies with huge marketing budget can get a bit sophisticated with their digital marketing. It doesn't cost much for a small business with limited resources to have a content strategy that involves blogging, social media and other mediums that are very cost effective and has been providing an equal advantage for everyone. There are many resources available online for entrepreneurs, no one should be left behind in this revolution that is taking place, your success may depend on this.
