The Benefits of Internet Marketing in Today’s Business Landscape
Online advertising or internet marketing is the practice of promoting products or services over the internet. Customers will receive advertisements for the product or service typically via the following digital routes: search engine results, social media marketing and banner ads, blog and online classified advertisements, and spam or email advertising. The idea behind internet marketing is to send marketing messages and lure in customers without overdoing it or missing the mark. This article will explore ways in which internet marketing can hit the mark more often.
Pros and Cons of Internet Marketing
Internet Marketing, unlike marketing done on television or through newspapers, has the advantage of being instantly publishable. In addition, the information disseminated through internet marketing activities is virtually unlimited. With a newspaper or television commercial, you are oftentimes targeting one demographic in one particular place. With internet marketing, the advertisements not only hit more people but they are sometimes interactive advertisements that keep customers engaged.
To go Interactive?
More advertising is going interactive these days and it might prove harmful for business not to capitalize on this relatively new way to reach customers. What is interactive advertising? In the most basic sense, interactive advertising is marketing that interacts with the user’s motives or responses to deliver the best service in a timely fashion. For instance, sites like Amazon and Target are interactive in that both sites filter and arrange future searches based on the user’s preferences and purchasing habits. It’s often said that retaining a current customer is ten times less expensive than corralling in a new customer. This economic reality underscores the importance of streamlining interactive advertising to current customers.
One Size Fits Most
Research in internet marketing has shown that two strategies for marketing online pay off in the long run; those strategies are appealing to a specific interest and targeting individuals. The latter, also known as the one-to-one approach, is used in tandem with search engine optimization. With the one-to-one approach, advertisements are based around keywords typed into the search engine. For instance, searching for “foot locker” might warrant an advertisement for Nike shoes. The one-to-one approach is tremendously time and cost efficient and it often furnishes the customer with just what s/he needs!
Specific Interest Marketing
Another approach, though, is appealing to a specific interest. The specific interest approach focuses on an entire demographic’s shared characteristics, like age or geography. Rather than focusing on one individual, specific interest internet marketing narrows down the advertising to a collective interest or pursuit. For example, internet browsers in Nevada might be presented with Carls Jr. fast food advertisements, which wouldn’t be useful to someone in New England. The specific interest marketing is subtly similar to one-to-one marketing except that specific interest marketing focuses on larger groups of people, perhaps without particular regard to spending habits of those people.
Future of Marketing
Internet marketing is superior to other forms of marketing because it is cost, energy, and resource efficient. There are also more options with internet marketing: internet marketing can solicit millions of people at once or only a few potential customers. With more people flocking to the internet for goods and services, now is the time to incorporate internet marketing into your business.
About Author: Pam Johnson studied sociology and applies her studies of human decision making to internet marketing. She graduated from one of the best sociology programs in the nation and is now VP of Marketing for an internet marketing firm.