Many businesses hesitate to invest in online marketing because they think it’s too costly and too risky. The truth is that with the right approach, digital marketing can be highly profitable and can even serve as a source of passive income.
The key is to develop strategic, data-driven campaigns that generate traffic and leads, and then measure the results of your efforts effectively.
Why Now? Creating a Business Case for Online Marketing.
It’s no secret that traditional marketing techniques like TV commercials and radio ads have shifted to digital platforms. According to HubSpot Blogs research, 40% of consumers have watched TV commercials online while shopping. Additionally, HubSpot Blogs data reveals that 63% of consumers have read product reviews online before purchasing a product, while 52% have watched YouTube videos on a smartphone or a tablet to learn about products or services.
It’s clear that digital marketing has replaced traditional marketing methods, and businesses that ignore this are at risk of being left behind by competitors who continue to invest in traditional marketing.
To determine whether or not to invest in online marketing, you need to answer two important questions:
- Is your target audience online?
- Does your target audience have the money to spend?
Audience: Who is your audience?
To create an audience, you must first decide who your target audience is. You can segment this audience based on many different factors, but the most common ways are:
- Demographics (such as gender or age)
- Interests (such as pet care or health)
- Situational factors (such as whether or not you’ll be selling gluten free or vegan food)
- Psychographics (such as whether or not they belong to a particular group, like millennials)
Your target audience’s interests reveal a lot about what they want and need. If you know the types of things your audience is interested in, you can create content that suits their unique preferences.
For example, if you’re writing content for a real estate website, you might target demographics that are interested in buying and selling real estate. Or if you’re writing for a magazine aimed at millennials, you might decide to focus on their interests, such as fashion, food, and travel.
In addition to interests, you can also use psychographics to define your target audience. A psychographic is someone who thinks and behaves in a particular way. For example, someone who is highly sensitive may be considered a psychographic since they are likely to have very different ideas on how to approach marketing than someone who is less so.
Growth Through Content Marketing
People love content, and businesses that provide valuable information to customers are becoming extremely successful by serving as content creators, curators, and even editors.
The content that you create should be useful and accessible to your audience. If your content is useful, attractive, and interesting, then your audience will naturally engage with it, and this engagement can lead to growth and engagement through retweets, likes, and Shares.
To generate traffic and leads, you can use a content planning tool like HubSpot to research and determine the topics that your audience is already engaging with, and to map out a strategy for creating valuable content that will increase your visibility and attract potential customers.
For example, if you’re a pet care provider and your target audience is mostly other pet care providers, you might want to create content that educates your audience about preventing and treating common pet health issues. Or if you’re a luxury goods brand, you might decide to write an explainer video about the ins and outs of owning a luxury item, so that audiences who are considering buying or investing in a luxury item will be more receptive to your content.
Now that you have an audience, you need to figure out how to generate Leads – individuals who are interested in your products or services. This is where things get a little bit tricky, because although you’ve built a relationship with the audience, you haven’t actually sold them anything. To generate leads, you first need to establish yourself as an expert in your field, and then you can push certain products or services that you’re promoting.
The way you generate leads is by first educating and then convincing your audience to choose your product or service. If you can do this successfully, you will see growth in both your traffic and your sales.
Measuring the Results of Your Campaign
Once you have successfully generated leads, you need to determine whether or not these leads are valuable. In order to do this, you must first set a benchmark, and then track your progress towards or even exceed this benchmark.
Setting a benchmark is simply establishing a goal, and then measuring whether or not you’ve reached this goal. For example, if you’re looking to generate 10 leads per week from Twitter, then you would set this as your benchmark, and track your results against this benchmark to determine whether or not you’ve reached your goal.
Tracking and reviewing your results on a regular basis is extremely important, and this is one of the primary reasons why many businesses hesitate to invest in the web. However, if you’re regularly monitoring and analyzing your results, you’ll quickly discover areas where you can improve, and this improvement can lead to further growth.
Many businesses think that they need to make a massive, one-time investment in order to have a successful online marketing campaign. However, this couldn’t be further from the truth. With the right approach, you can have highly profitable and even passive income streams from your efforts in internet marketing, and all you need are the following four ingredients:
- An audience — someone who wants to hear your voice
- Interests — around something that you know and love
- Growth through content marketing — creating and curating valuable content that will attract interested parties and encourage them to engage
- Measuring the results of your marketing efforts — regularly analyzing your data and performance to determine the effectiveness of your campaign, and then setting a new goal for the following week
You don’t need to have all four of these ingredients in order for your campaign to work; you just need to find one that suits your needs and situation. With your first campaign under your belt, you can begin to build a strong foundation for attracting clients and customers via the internet. And remember, if you keep this up, soon you’ll be able to replace your day job with an online marketing career that you love.