Nearly 30 years ago Bill Gates once said the internet was a novelty, but with widespread adoption the internet now forms the basis for the largest marketplace in the world. As businesses in the UK and the rest of the world have embraced digital technology and its applications, so too has online marketing, which is now essential for modern retail businesses. Unlike more traditional marketing techniques such as print advertising or TV commercials, online marketing uses a combination of internet-based tools to reach consumers directly. From lead generation to advanced analytics that can help you identify traffic engagement levels, there are countless advantages to online marketing that result in higher conversion rates. Let’s take a look at what this means for your business.
1. Lead Generation
First and foremost, lead generation is a critical aspect of any business. Via online marketing, your marketing team can collect customer contact details with minimal effort and time. This allows you to contact prospective customers who are interested in your products or service and will be more likely to become customers as a result of increased exposure through advertising.
2. Quality Way to Reach Customers
Next, because the internet is a place where people go when they’re looking for some information, it’s the ideal platform for marketing purposes. In a world where people expect to find information that’s relevant to them, companies use a combination of online marketing channels such as social media, search engine optimization (SEO), and display advertising – or advertising services such as Google Adwords – to reach the right people.
3. Increase Sales Conversion
Online marketing is not only effective for lead generation and brand exposure, but also for driving sales conversion and increasing revenue. For example, if you’re running a product or service that needs to be ordered online – such as an electric toothbrush – then the conversion rate for your online marketing will increase the more information people have on your product before making a purchase. When customers are looking at products they may be more likely to convert into sales with increased visibility and an understanding of what they need.
4. Build Trust and Credibility
Online, especially social media, is a place where you can interact directly with customers to build trust and credibility. For example, companies should use social media to help answer questions or demonstrate expertise, building consumer trust and credibility at the same time.
5. Reduce Marketing Costs
Better yet, through the use of online marketing, retailers can effectively reduce marketing costs while increasing their overall reach and brand exposure. As a result, businesses with a strong online presence can spend far less on advertising and still be effective in driving leads, sales conversion and revenue.
For example: Your business has 1 million Facebook fans that are looking for information on your company and products. These consumers may be more likely to buy from you after that they realize what you offer.
You have written an article on the benefits of online marketing for consumers. Based on the number of people that read your article, 100,000 consumers may be more likely to order when they see your business in Google and other search engines. Your business has 1 million Twitter followers who are interested in what you are promoting. They have a high chance of becoming loyal customers as a result of seeing your company’s name and offering on their social media feeds.