Nowadays, technology and innovation are growing at a tremendous rate. Online marketing has become essential for businesses, modern brands, organizations, and companies all over the world. Many major companies have begun embracing digital advertising and marketing as a way of reaching out to more clients.
Digital advertising or marketing is also referred to as online advertising, web advertising or internet marketing. The principal idea behind this is the marketing of products and services using digital platforms such as a website, Facebook and/or Twitter, all of which are accessed via the internet.
According to a 2018 report by the Pew Research Institution, customers often read several sources, comments, and reviews for various digital channels before making purchases. Therefore, having a team handling your digital marketing is vital since you will be able to access more people who could be potential clients for your products or services.
Benefits of Online Marketing
Some of the major benefits of incorporating digital marketing are unlimited reach, lower cost, trackable, measurable results, huge returns on investment, flexibility and easy adjustment.
Unlimited Reach: 2019 Internet World Stats shows that there are an estimated 3.9 billion internet users around the world, with the numbers expected to grow every year, thanks to digitization. Investing heavily in digital marketing strategies by advertising on various internet platforms can help your products or services be more visible in almost every part of the world. Marketing professionals agree that digitization gives small entrepreneurs the chance to go global, due to the extensive exposure provided by the internet.
Lower Cost: A marketing and advertising budget is one of the most prominent financial constraints organizations have to bear to make more sales. However, digital marketing firms, such as LYFE Marketing, encourage marketing via various digital platforms as it is cheaper and more affordable. For example, with a few coins, you can create your website, whereby potential clients can access your products without having to come to the store.
Huge Returns On Investments: In every business, returns on investment are significant. By embracing web advertising and marketing, which is a cheap marketing strategy, the company will be able to make huge sales, thus increasing profits. For instance, it will cost very little to run your advertisements on social media platforms, which will attract new clients who are willing to purchase your product.
Easy to Track and Measure: The success or failure of online marketing can easily be measured and monitored to confirm its impact. An increased number in sales can measure progress. Furthermore, tools such as Google AdWords Manager gives you the opportunity to track the performance of your ads on Google search. They also assist you in knowing the number of people who have viewed your advertisements. Google Analytics is another useful tool for measuring specific goals and objectives to be achieved on your website.
Flexible: Digital advertisement performance and feedback will determine the future of an organization. If an ad is performing well, the organization will consider investing more in the digital marketing strategy to increases its return. Nonetheless, if web marketing is not delivering as expected, then the marketing team will have to adjust their plan accordingly.
Branding: Brand development can be an appropriate marketing technique for a large and well-developed organization. A survey conducted by HubSpot in 2014 indicates that 92 percent of marketers acknowledged the importance of social media marketing with 80 percent noticing an increase in their website traffic which is key to brand development. This shows that entrepreneurs can use their digital platforms to create their business brand and reputation. A well-developed website or a social media network with more interactive features are crucial in growing and developing a brand.
Challenges of Digital Advertisements
Digital advertisements and marketing have numerous positive impacts which contribute to the growth and development of an organization. However, if done the wrong way, it can hurt your brand massively.
It Is Time Consuming
Patience is required for you to be successful. Various surveys show that more than 60% of digital marketers spend a minimum of 6 hours daily on their digital marketing platforms. Digital marketing can be cheap and affordable but a lot of time is required for you to create brand awareness of your products or services and also to build a brand.
Digital Marketing is Subject to Negative Public Reaction
While carrying out digital marketing, your product or service is visible to many people around the world who may either like or dislike it. People who hate the product may respond negatively by trolling your product, thus destroying your reputation and brand.
The First Impression Matters
The first impression is key towards establishing and growing your product through online marketing. If, by any chance, the first impression of your internet marketing campaign is unprofessional and unethical, then rest assured it will be difficult to change the narrative. It is wise to develop a positive first impression for your organization so that you can attract potential clients.
Tips on Having a Successful Online Marketing Campaign
Depending on the type of business, you must have a plan on how to develop a successful digital marketing campaign which will facilitate the growth and development of a company. Here are some pro tips to aid you in coming up with a successful online marketing campaign.
Define Your Goals
Have clear objectives of what you want before launching your digital advertisement. Your goals should include brand awareness, acquiring new clients, getting feedback from clients and/or having more followers and likes on your products or services.
Find Your Target Market
What type of clients do you want? This depends on the products/services you are selling. It is not possible to target everyone as a potential customer; therefore, for a successful digital marketing campaign, the marketing team should have a well-defined market crafted to suit the products you are selling.
Define Your Budget
Make a budget on how much you want to spend and how you will spend the money assigned to avoid losses. While creating a budget for your digital marketing campaign, it is advisable that you consult a social media professional who will help you estimate how much to spend and what to expect.
Have a Time Frame
Set a time frame on when you need to accomplish specific marketing goals and objectives. Moreover, time limits will help you monitor the performance of your marketing campaign. Time frames can also be used for comparison when analyzing the results of different online marketing techniques.
Common Mistakes Made in Digital Advertising Marketing
Apart from having social media accounts or developing websites, for you to be successful in digital advertising marketing, you need to improve your skills continually. Stay up to date with current trends and measure your performance to improve on your weaknesses. Some of the common mistakes made in digital marketing are;
Inadequate Allocation of Resources
The most common mistake entrepreneurs make is failing to allocate sufficient funds for digital marketing, hence make the campaign unsuccessful. As a businessman, you need to invest heavily in digital marketing by investing in tools such as project management software and SEO tools. Moreover, it is essential for you to employ a competitive workforce so that the marketing campaign can yield results.
Many entrepreneurs target a broad group of people, forgetting that they only need to capture the attention of a small group of people who are interested in their product. Targeting the wrong audience makes the online advertising campaign ineffective, therefore, for establishing the correct audience you need to evaluate your current user base.
Having an Unresponsive Site
If you have a marketing site that isn’t responsive, then your search result ranking will reduce. To make your digital marketing platform more competitive, you need to design a dynamic, flexible and responsive site. This means that the website should be flexible according to users’ screens, making it exceptional and user-friendly. Furthermore, before launching the marketing platform, test your site to ensure that it is appealing to the user.
Not Available on Social Networks
Social network sites such as Facebook, Twitter, and Instagram are considered to be some of the most powerful channels for marketing your products/services. It is estimated that 2.1 billion people around the world are on various social networks. Apart from concentrating on your website, consider sharing live videos, gifs, and photos of your products to create an interactive platform with new customers.
Marketing is considered one of the most challenging tasks in growing a business. For you to get a higher ranking in your online marketing platform, you need to generate interactive and highly-informative content that will attract new consumers. Incorporate live videos and photos of your products, since these will help the target audience to like and share the content. Also, you can ask your customers to answer questions concerning your products voluntarily. This will give you an overview of what customers want and how they rate your products/services.
Overlooking Email Marketing
Writing off email marketing can be a costly mistake for any organization. Email marketing is becoming more common among entrepreneurs since email is the most popular channel for communication between the clients and the organization. Approximately 91% of people living in the United States like receiving promotional emails from different companies.
About the Author
Liam Peng is a marketing expert at Seoanalytics.pro with a Marketing Degree from the University of Australia. He has worked alongside many notable brands. Peng is also interested in forex trading, and when he’s not working, you’ll catch him reading about financial markets.