You’ve probably heard of online marketing, but do you really understand what it means? It’s when you use different platforms (such as social media) to reach your audience (the people who are interested in your product or service), rather than just relying on traditional media (such as television and magazines).
For instance, if you’re a real estate agent, you might use social media to help guide potential buyers to your website or Facebook page, where they can learn more about the properties you’ve got available. That’s online marketing.
Traditional media can still play a crucial role in marketing – like radio adverts or television news pieces – but the lines are blurred.
You might use social media to promote an upcoming concert, for example, and an entertainment website could choose to cover the story in an article.
Does this type of marketing make sense to you?
The Basics Of Online Marketing
To start with, here are the basics of online marketing:
- It’s all about the numbers: The more people you can get to see or hear about your product or service, the better.
- It’s all about measurement: You’ll never know how effective your online marketing is unless you know how to measure it. Is anybody clicking on the ads you’re running? Is anybody joining your email list?
- Location, location, location: Your physical location (where you are) is important, but so is your digital location: where you are online.
- The platform you’re on is just as important as getting the word out there: If you’re only on Facebook, for example, you’ll only reach a limited audience. But if you’re on Twitter, you could potentially reach a worldwide audience. So, being on more platforms means wider reach.
- Attracting & engaging with customers: You want to attract as many people as possible to your product or service, and the best way to do that is by creating engaging content.
- Building a brand: Just like when you meet someone for the first time, you never really know what kind of person they are going to be until you get to know them better. Well, with a brand, you’re always going to know what kind of person you’re going to get. When a consumer discovers your products or services and decides to purchase them, you can be sure they’ll be coming back for more.
- Boost your conversion: You want to convert as many people as possible into paying customers, and the best way to do that is by offering value first and foremost – and hopefully, some delightful surprises along the way.
- Create demand: If you’re setting up a sales funnel to grow your business, you need to offer something that people are clamouring for. Ask yourself:
- What’s the single biggest barrier to somebody purchasing my product or service?
- What do I have that is unique, special or better than anybody else’s?
- What problem are my products solving?
- What makes my products or services special?
- This is the heart of demand generation: Once you’ve got an answer to these questions, you can begin to develop a strategy to generate as much demand as possible.
- The whole point of marketing is to eventually convert customers into fans and advocates. Once they’ve expressed an interest in your product or service, you’ve got their attention – and now, it’s up to you to keep it!
- You’ve got to innovate and evolve: Just because something works today doesn’t mean it’ll work tomorrow. Always be looking for the next big thing – and be open to trying new things. That’s the only way you can stay ahead of the competition.
- What’s your pricing strategy?
- How are you going to get people to try your product or service?
As a business owner or an entrepreneur, you’re always going to be working hard to make sure your business continues to grow and prosper. One of the best ways to do that is by utilizing online marketing to its fullest potential – and that means getting to know how to use different platforms and tools to gain more traction and make a lasting impact.