Online marketing communications (OMC) allow businesses to target interested parties with customized offers via emails, social media, and web banners. Since the Covid-19 pandemic, a growing number of companies are reaping the benefits of OMC, including GoDaddy, which saw its share price jump by 17%, and PUBG Corporation, which saw its monthly active users increase by 25%.
What are the advantages and disadvantages of OMC? We explored the topic at length with Michael Hyatt, CEO of Northstar Marketing. Below, you’ll discover everything you need to know about the topic, including how to implement an OMC strategy, the key differences between offline and online marketing, and the various technologies utilized by marketers.
Advantages Of Online Marketing Communications
The advantages of OMC are numerous and far-reaching. Businesses can gain a leg up on their competition via online engagement tools that allow them to target and analyze marketing efforts. OMC provides a platform for marketing and advertising, allowing companies to test various marketing strategies and track the results of their campaigns.
On the flip side, not having a physical storefront means that businesses are limited in terms of the customer base they can tap into. However, the digital nomad lifestyle has opened up a whole new group of potential clients for online marketers. If you’re looking to expand your reach, consider using digital platforms like social media to connect with potential customers.
Disadvantages Of Online Marketing Communications
Not all businesses can reap the benefits of OMC, as there are a number of disadvantages to the strategy. One of the primary downsides is the lack of personal interaction that comes with online marketing. The opportunity to connect with customers via email and social media is valuable, but it’s also far more efficient to engage with customers physically.
Another disadvantage is that online marketing is relatively easy to track and measure. It’s trivial to see how many people clicked on a particular web banner or opened an email pitch. While this may not be the case for some industries (such as pharmaceuticals and health care), it’s almost always the case for digital marketing.
It’s important to note that not all online marketing is created equal. Some companies provide valuable services that help businesses connect with potential customers, such as HubSpot, which provides marketing tools that allow firms to target individuals and businesses based on their needs.
Many brands utilize digital marketing to generate demand for their products, and that’s a strategy that can be valuable in and of itself. As long as companies are producing products and services online that people want or need, the advantages of online marketing will continue to outweigh the disadvantages.
The Role Of Offline Marketing
To further complicate matters, not all forms of marketing are created equal. There’s a difference between marketing that’s digital and electronic and marketing that is traditional and physical. While most companies utilize multiple platforms to promote their products, they typically rely on one type of marketing (either digital or electronic) to do most of the heavy lifting.
When it comes to promoting and selling a product or service, especially a luxury brand, marketing with a physical presence is critical. In fact, many luxury brands will still rely on traditional methods to reach their target audience – including advertising, radio and TV commercials, and billboards.
To create a memorable impact, businesses will often enlist the help of talented marketers who know how to leverage an array of traditional methods (including advertising, public relations, and social media). When you combine a product with effective marketing, it becomes much easier for businesses to turn a profit. For example, Burberry uses classic advertising methods to promote its fragrance, while Neiman Marcus sponsors NBA games to capture the attention of upscale shoppers.
The Role Of Technology In Offline And Online Marketing
If we compare online marketing to traditional marketing, we see a significant shift in how technologies intersect with marketing. In the past, radio and TV commercials were the primary means of advertising. These days, when someone sees a brand name or catches an earworm on the radio, they’re more likely to assume the product was advertised. The catch is that they may not realize that a brand name was even mentioned.
This is where technology comes in. With the click of a button, a company can create and run an ad campaign that plays in the background while a customer is browsing the web or using another app. This type of advertising is called background advertising, and it’s one of the primary ways businesses can promote and market their products online.
Background advertising provides value to consumers in exchange for their attention. While most people don’t pay much attention to the background ads on websites they’re reading or using apps, the attention-getting tactics – including clickbait headlines, over-the-top descriptions, and bargain basement pricing – make these ads stand out.
Traditional Versus Digital Marketing
One of the most significant changes that came with the rise of the internet is the difference in how people perceive marketing. In the past, marketing was often seen as an expense rather than a strategic tool that allows businesses to grow.
Since the internet and social media have provided platforms for individuals to engage with businesses and other individuals, marketing has transformed from a one-way process of pushing product to a two-way conversation. This paradigm shift has allowed marketing to evolve from a “set it and forget it” strategy to one that requires companies to approach marketing as a way of life.
This entails creating engaging content that helps consumers understand what a company wants, needs, and offers and then using various platforms – including social media – to connect with potential customers. As a business owner, it’s your duty to ensure that your marketing dollars are invested in the most productive way possible. One way to do this is to approach marketing as a conversation starter rather than as a tool to be used once and then cast aside.