19 May Competitive Advantages through Online Promotion
Online marketing may be easy to start, and it’s probably one of the easiest ways through which a desired target of consumers can be reached. However, how effective this marketing approach is entirely depends on the strategies which have been laid down by the business entity intending to venture into online marketing as a way of reaching out to its customers. Research which has been carried out on various platforms reveal that even though most of businesses have shied away from online and digital marketing in the past, venturing into such mode of marketing increases their potential of growing their business to the required level and thus gaining a competitive advantage over others.
Why It Embrace It?
A number of online marketing strategies are available, and these include online classified adverts, social media advertisements, affiliate advertising, advertising networks among many other platforms. However, the type and medium selected for the advertising purpose entirely depends on the nature of business which the subscribers want to get to the customers. The effectiveness of these platforms are a bound and they play the single role of getting the products and services of subscribers known to the potential customers and subscribers. One of the most advanced reasons for these advertising platforms is the increased traffic of subscribers. The potential customers and subscribers can effectively be reached to in the easiest way. The expenses to be incurred in other advertisement platforms are thus reduced (Klapdor, 2012).
The statistics of sales can equally be measured in the most accurate manner, as most of the businesses which use the online platform can easily track down their customers due to the records which are maintained on these online platforms. The implementation, costs and launching strategy are also enjoyed by these businesses. Through advertising, and in particular in the digital platform, they get closer to the people who are their potential customers. Through this, the customer base widens and the business thus gets an advantage in competing with the others.
Having identified the effectiveness of online marketing, it’s worth concluding that evidence based studies have indeed revealed that those businesses that advertise by online digital platforms have been able to expand in terms of their annual sales and the number of customers whom they reach out to. They have therefore expanded their customer base and are in the best position of reaching out to the most of their customers. Services are equally paid on these online platforms (Taken, 2012).
References
Klapdor, S. (2013). Effectiveness of online marketing campaigns: an investigation into online multichannel and search engine advertising. Springer Science & Business Media.
Taken Smith, K. (2012). Longitudinal study of digital marketing strategies targeting Millennials. Journal of Consumer Marketing, 29(2), 86-92.
Student 1
Zachary Wallace posted Feb 15, 2018 7:42 AM
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Each and every year online marketing becomes more effective. The term “Google it” is now associated with an individual’s ability to use online search engines to access a seemingly infinite amount of information. This is also the case when it comes to online shopping. Consumers use search engines to assist them in finding products they have considered purchasing, and these engines show them results from different sellers, allowing them to easily find the best price for that product. The introduction and implementation of the semantic web gives retailers even more of an edge when marketing online. The semantic web refers to artificial intelligence that perceives the context of the keywords used in a web search, and will use that data to help personalize the user’s web experience. (Trier, This means that if the customer is searching for a particular product, the advertisements that the consumer see on their top and sidebars will be ads from retailers that are carrying the product that the customer is searching for. (Strickland, 2008) Companies can also take advantage of SEO, and SEM to funnel in customers that are conducting web searches. These tools are implemented by region, and therefore can be utilized to draw customers away from competition. This is something we do at the dealership I work at. Not only do we advertise via SEM, and SEO for our region, we also target competitors regions as well so that there is a greater chance of a potential customer seeing our inventory, and being taken into consideration. Likewise our competition does uses the same strategy to assist in drawing more customers to their store. With the internet being easily accessible by anyone with a mobile device, effective online marketing has not only become more competitive, but also more effective than ever.
Resources
Trier, R. (2017) What Exactly is the Difference Between SEO & SEM? Retrieved from https://www.weidert.com/whole_brain_marketing_blog/bid/115490/what-exactly-is-the-difference-between-seo-sem
Strickland, M. (2008) What the Semantic Web — or Web 3.0 — Can do for Marketers. Retrieved from http://adage.com/article/digitalnext/semantic-web-web-3-0-marketers/132815/
Student 2
James Livingstone posted Feb 18, 2018 12:39 PM
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Like other advertising media, online advertising frequently involves both a publisher, who integrates advertisements into its online content, and an advertiser who provides the advertisements to be displayed on the publisher’s content. Other potential participants include advertising agencies that help generate and place the advertisement copy, the advertisement server who technologically delivers the advertisement and tracks statistics, and advertising affiliates who do independent promotional work for the advertiser.
Internet as an advertising medium is versatile and this is it where it stands apart from the conventional advertising medium. It is a highly flexible medium that allows you to make changes during the course of the campaign as and when required without incurring much additional cost. This makes internet all the more important in a country like India where the business scenario is highly dynamic and changes with each passing day. Online marketing media allows the user to make changes as and when required to meet the latest demands of the market. The main strength of Internet as an advertising medium is its ability to reach out to a vast audience at one goes. Internet advertising is also not bound by limitations such as time and accessibility as one can surf the internet at any time of the day making your advertisement available 24*7 unlike television advertisements to which the viewers can’t go back or the newspaper advertisements that go in the waste once they are read in the morning. Day in and day out, businesses are going online to advertise their products and services. The internet combines aspects of print, television, and radio advertising in an interactive environment. It presents a new and fast-paced experience for customers. Thus, online advertisement is becoming one of the most preferred medium of advertisement and one with extreme potential for growth.
Advertising on the Internet is almost a necessity for modern businesses, especially those that do business outside their local community. Consumers use the Internet for more than simply entertainment or information, as they do with radio, television, magazines and newspapers. Consumers use the Internet to assist them in nearly every aspect of life, creating countless opportunities to place relevant, targeted advertising messages. Companies can take advantage of web advertising to complement their standard media and print marketing. The wide reach and continual exposure of online advertising work tirelessly to give businesses heightened visibility and audience contact. Companies can differentiate their brand online with useful information, positive interaction for their website visitors and enhanced communication to attract new customers
Melissa Smith posted Feb 14, 2018 8:50 PM
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Class,
We are a world of innovation. Technology has taken hold of everything and everyone. Having an impact in all we do as individuals and corporations. Online marketing is a part of the business world that is and will continue to be an imperative part of success for any organization. Simply for the fact that the internet is not going away and will continue to be an overwhelming trend. More and more people are on the internet searching from batteries to cars and homes. The facts speak for themselves, consumers will search and compare products online much more than in the yellow pages. So, it is easy to say that if you’re not marketing online you are simply the first business on the chopping block. Besides this point the fact that online marketing is cheaper compared to traditional marketing. Companies that are utilizing online marketing or are thinking of utilizing online marketing can benefit from enhanced logistics, opens up new marketing avenues as well as provide a access to products for consumers that they usually would not have (Margarit, 2017).
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