Online marketing has leveled the playing field for businesses. Today, even small enterprises and startups don’t need a huge advertising budget in order to reach their target markets and promote their products and services. The availability of digital marketing tools have also made it easier for business owners and marketers to collect and analyze data critical in understanding the buying behavior of their customers.
The Internet has had a profound influence on today’s generation. Majority of people today use it to gain information not only about events happening around the world but also about different products and services. This reliance on the Internet has also made it imperative for businesses to have an online presence because their target markets are online. Digital or online marketing, which essentially pertains to the use of Internet-based channels for promoting products and services, is particularly important not only to established firms but more so for startups.
Many firms are now using big data in their operations. One study by management consulting firm Forrester Research that 44 percent of companies utilize data and mining to improve customer response rates and generate insights. Another report by Boston Consulting Group showed that a majority of chief marketing officers believe that big data systems have a big impact on their email and mobile communication campaigns.
Amazon, the online retail giant, could soon be the king of online ads, too. It has posed a serious challenge to Google and Facebook in the highly profitable area of online advertising. As the firm braces itself for getting a bigger slice of the $88-billion market, this could mean that even Amazon Prime customers who pay up to $120 a year for free shipping will likely see more ads in the future.
Digital marketing has come a long way since its beginnings in the late ‘80s. With everyone online, this type of marketing has changed the way companies devise of schemes targeted at their niche markets. Changes in technology and in the lifestyles of people have also affected its evolution.
Many business owners regard digital marketing as a superfluous expense. Return on investment on this type of marketing can be unpredictable, which can be a source of frustration for many entrepreneurs. But one way to overcome the hurdle of unpredictability is to look at different digital marketing metrics.
Do you have a digital marketing plan ready to be executed? Online marketing has become such an important aspect in every business these days especially those which are Internet-based. Thus, it is only imperative that you, as a business owner or digital marketer, plan well before executing an online marketing plan.
Digital marketing benefits not just big, international conglomerates but also small enterprises. It is a powerful platform for any business regardless of its size or years in operation. It is particularly beneficial to small companies with a limited budget for promoting their products and services. Here are some of its benefits to small businesses:
Many companies big or small have allocated a significant portion of their advertising budget online advertising because of advantages such as affordability and reach. From social media ads to pay-per-click ad campaigns, there are different ways to conduct an online ad campaign.
It’s no joke to run a startup; more so to have it compete with established companies. Entrepreneurs who manage a startup firm have to deal with numerous concerns like product management, relationship building, and customer service, among others. Fortunately, digital marketing can help them in addressing some of these challenges.