With the term digital marketing being frequently used, it is easy to confuse it for online marketing. When in reality, there is a minor difference between the two. While digital marketing refers to the digitization of communication with or without internet in order to reach a business’ objectives, online marketing solely covers the advertising efforts of a business done via the Internet. Yes, it’s that simple! Online marketing includes any and every marketing effort that uses internet as its main selling platform. Hence, all categories such as SEO, SEM, and SMM are included under the umbrella of online marketing.
Guy Galboiz, an internet entrepreneur, marketer and crypto investor, says that the term ‘online marketing’ might sound simple and easy to get around, it can prove to be quite overwhelming to implement. This is because, thanks to technology, there are numerous ways to reach out to your target audience over the Internet. Knowing which one to choose and how to use it can get extremely difficult. Luckily, Guy Galboiz has outlined everything you need to know about online marketing in this guide. But, before we share with you how to go about online marketing, first, look at why you need to make it a part of your overall marketing strategy.
Benefits of Using Online Marketing
There are many benefits associated with online marketing. However, to name a few, we have compiled the following for you to realize its importance:
One of the major benefits of online marketing is its cost. You can easily implement different online marketing techniques while sitting at home or your office without any hassle. Creating a strong online presence for your business does not make you incur high costs unlike traditional methods of marketing. At the same time because of the revenue generated through online marketing, your ROI will be far greater than you get via other marketing methods.
The reach of online platforms is exceptional. This kind of target audience was thought to be impossible to reach a few decades ago. But today, thanks to technology, businesses can communicate to their desired audience from any part of the world just by clicking a button. As per Guy Galboiz, social media platforms are specifically great at grasping the attention of your target customers living in any part of the world.
Traditional methods of marketing had a much lower control over what kind of leads were generated. On the other hand, online marketing carries greater reliability as it is excellent for businesses looking for qualified leads only. This ability of online marketing to give a qualified customer base makes it an excellent way of increasing your revenue and spending time on the right customers. This also reflects in significantly reduced costs.
Online marketing does not keep you in the dark. You have ways to find out more about what the customers say about you as soon as they say it. This helps you manage your brand’s reputation and build one that is of a credible and reliable entity. Traditional marketing is devoid of any such benefits, which is why many businesses are constantly increasing their budget for online marketing. However, for this to happen, you must keep an eye on what your customers are doing and saying about your business. At the same, use SEO and other sophisticated techniques of online marketing to help your business rank higher and gain higher popularity and trust.
With the evolution of so many ways to market your business there are also different ways to evaluate your performance. Google Analytics is a great tool that makes monitoring all your efforts possible. All you have to do is set certain KPIs that are in accordance with your overall goals and find out if you are getting the return you expected. With the help of such tools, you can also make the right changes to witness better results.
Since businesses use a more targeted approach via online marketing, it becomes possible for them to increase their sales. Long-lasting, meaningful relationships are built through online marketing. Researching about the needs and wants of your target audience through different platforms makes it easy for marketers to communicate to them in a way that captivates their attention. More and more customers become interested in knowing about your brand and business through online marketing efforts which increases the likelihood of converting these leads into customers. Also, the reduced cost of using this medium makes the ROI greater and keeps the revenue to a maximum.
Online marketing is not deemed suitable for businesses at a particular lifecycle stage only. It works for businesses with all kinds of goals. Whether you wish to create more brand awareness or build a loyal target customer base, you can use online marketing to accomplish all these goals.
How to Do Online Marketing
Now that you have realized the importance of allotting certain part of your budget to online marketing, it is time to learn how to incorporate online techniques in your marketing efforts. Here is a step-by-step approach explained by Guy Galboiz to steer you in the right direction:
Keep Your Customer First & Goals Clear
The first thing that you need absolute clarity over is who your customers are. Even though online marketing has an extremely wide reach, being focused with how you use this platform is essential. When you know who you are targeting, you will also know where to find your target audience. Therefore, think of this step as a great start to building a great and strong structure. A good way businesses can achieve a deeper understanding of their customers is through buyer personas. Through clearly stating the psychological, demographic, and behavioral characteristics of your target customer, you are able to create buyer personas that you can turn to before finalizing your marketing strategy.
Once you have the sketch of a target customer in mind, it is time to find out where you can find such a group of people. You have to know how your target audience makes buying decisions and what you can do to influence them. Knowing what to say in your communication efforts is also important. This can only be done through finding out what your target audience’s pain points are. All of these practices will help you keep your customer first when making integral business decisions.
Have a System in Place
Remember that the ultimate objective of any online marketing effort is to generate more revenue. However, in all the chaos, it is easy to forget about what the original goal had been. Therefore, it is essential to have a system in place that keeps your eyes on the price, i.e. the increased sales. For this, it is helpful to have a system that directs you towards measuring the ROI of all your online marketing efforts. Here is how you can achieve this:
- Have a separate budget in mind for online marketing. This budget should be in accordance with the importance that online marketing holds.
- Keep track of the revenue generated through online marketing efforts. It is further recommended to categorize this revenue under each campaign that you decide to run.
- Have all the KPIs clearly stated before hopping on the online marketing bandwagon. To come up with the right KPIs, it is suggested to keep in consideration the ultimate goals of the campaign.
Plan at Every Step of the Way
You should know what you are hoping to achieve out of every single campaign you run. This will help you understand what KPIs to set for each of them as well. The different objectives of a campaign include raising awareness about your products or services, engaging the customers, giving the customers a reminder and maintaining their interest, or guiding them in the right direction that helps them take a decision.
Now that you have all the goals in place, it is time to plan the minute details of your online marketing efforts. Decide on the different tools and practices available to you to get the right results. At the same time, also determine what the right time would be to launch your campaign. You might have the most thoroughly planned campaign in history, but if your timing isn’t right, you expose yourself to failure.
Now that you know exactly what to do, it is time to focus on the quality of your message. Online marketing is extremely diverse. Content can be used in more than one way to start communicating with your target audience. Make sure that you incorporate an authentic touch to all your communication efforts. Keeping your reputation of an approachable brand is extremely important if you want to increase the level of customer engagement. Online marketing requires you to bring in a human touch otherwise it becomes difficult for customers to relate to your brand.
Learn to talk about your brand in meaningful ways that will strike a chord with your customers. The secret to building a loyal customer base is in being able to form an emotional connection with them through visual online marketing tools.
Increase Traffic & Regularly Improve Content
After creating content that you think your customer will feel attracted to, you do not have to sit and wait. There are other online marketing methods to increase the traffic to your company’s website. SEO is a great way of enhancing your brand’s visibility. At the same time, e-mail marketing is also extremely effective at directing more traffic to your website. There are many paid channels that offer more organic traffic to your website as a part of the services they provide. If you use such a tool along with high-quality content, you are sure to optimize all the online marketing tools to reap maximum benefits.
It is also worth mentioning that increasing traffic is just one piece of the puzzle. You must also make sure that you have content strong enough to sustain the audience’s attention in your business. This can be done by regularly checking the quality of your content. Weak content will not keep your audience engaged no matter how hard you try. Therefore, you must follow a strategy continuously to make sure that all your content resonates with your target customer. Also, do not get stuck to one particular type of content only. Do not be afraid to experiment and measure the performance.
Ensuring collaboration is another fundamental part of the entire online marketing equation without which success is not guaranteed. With so many tools available it is natural to feel all over the place for a marketer. However, with the right strategy, it becomes easier to schedule and categorize all your online marketing efforts. Nevertheless, it is also important that you have a sense of uniformity and integration across all the different tools used for making your business a success. Remember that your customers will be looking at the complete picture and would want all the pieces to come together perfectly in a synchronized manner.
Make Valuable Decisions
Due to the rapid changes in the world of technology, it is no surprise that the results sometimes vary from what was originally expected. You have to have strong decision making skills if you want to succeed in reaping the rewards from your online marketing tools. The power of analytics has made it easy for marketers to keep a track of the performance of every campaign run. If, at any time, you feel a strategy is not generating the results that it should, do not hesitate to move to the next best possible solution.
There is no doubt that online marketing has opened doors to tremendous growth for businesses pertaining to every industry. However, if you think you can carry out online marketing practices without a plan and help from professionals, you need to think again. Online marketing requires a sophisticated game of plan that you have to build along with help from the right people. So, make sure to think things through before you dive into the world of online marketing.