The nature of the internet means businesses now have a truly global reach. While traditional media costs limit this kind of reach to huge multinationals. Digital Marketing opens up new avenues for smaller businesses, on a much smaller budget, to access potential consumers from all over the world.
Internet marketing allows the marketer to reach consumers in a wide range of ways and enables them to offer a wide range of products and services. Digital Marketing includes, among other things, information management, public relations, customer service and sales. With the range of new technologies becoming available all the time, this scope can only grow.
Whereas traditional marketing is largely about getting a brand’s message out there, Digital Marketing facilitates conversations between companies and consumers. With a two way communication channel, companies can feed off of the responses of their consumers, making them more dynamic and adaptive.
Internet marketing is able to, in ways never before imagined, provide an immediate impact. Imagine you’re reading your favourite magazine. You see a double-page advert for some new product or service, maybe BMW’s latest luxury sedan or Apple’s latest iPod offering. With this kind of traditional media, it’s not that easy for you, the consumer, to take the step from hearing about a product to actual acquisition.
With Digital Marketing , it’s easy to make that step as simple as possible, meaning that within a few short clicks you could have booked a test drive or ordered the iPod. And all of this can happen regardless of normal office hours. Effectively, Internet marketing makes business hours 24 hours per day, 7 days per week for every week of the year.
By closing the gap between providing information and eliciting a consumer reaction, the consumer’s buying cycle is speeded up and advertising spend can go much further in creating immediate leads.
Demographics and targeting
Generally speaking, the demographics of the Internet are a marketer’s dream. Internet users, considered as a group, have greater buying power and could perhaps be considered as a population group skewed towards the middle-classes.
Buying power is not all though. The nature of the Internet is such that its users will tend to organise themselves into far more focussed groupings. Savvy marketers who know where to look can quite easily find access to the niche markets they wish to target.
Marketing messages are most effective when they are presented directly to the audience most likely to be interested. The Internet creates the perfect environment for niche marketing to targeted groups.
Adaptivity and closed loop marketing
Closed Loop Marketing requires the constant measurement and analysis of the results of marketing initiatives. By continuously tracking the response and effectiveness of a campaign, the marketer can be far more dynamic in adapting to consumers’ wants and needs.
With Digital Marketing , responses can be analysed in real-time and campaigns can be tweaked continuously. Combined with the immediacy of the Internet as a medium, this means that there’s minimal advertising spend wasted on less than effective campaigns.
Maximum marketing efficiency from Digital Marketing creates new opportunities to seize strategic competitive advantages.
The combination of all these factors results in an improved ROI and ultimately, more customers, happier customers and an improved bottom line.
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