Online versus offline marketing
In today’s economic climate companies are paying very close attention to their bottom line. Budget cuts are being made across the board, and marketing budgets are no exception. The nature of marketing can be compared to gambling in some regards, especially when you consider traditional means of advertising such as television, radio and print ads. The stakes are high, and its really luck of the draw as to the results you see, depending on many factors. Because traditional advertising has no concrete means of evaluation coupled with the ever growing popularity of non-traditional ways people gather information today many companies are putting their bets on marketing online.
One of the big advantages to online marketing is that you can track your results in real-time. Online analytics allow companies to monitor their marketing campaigns and see details as to where traffic is sourcing from and see how that traffic converts to bottom line profits. While there are ways to track traditional marketing, none of those options are real time and they generally give only a vague overview of the results after the campaign has been running for a period of time. If the campaign is unsuccessful, the funding for that campaign is a loss with little hope of turning it around again.
The great thing about this is that it allows the flexibility to make changes to a campaign if the results are not favorable. With real time results available, a company can monitor and analyze at each step of the campaign. If the results at any point are unsatisfactory changes to keywords, advertising outlets and the like can be made at a moments notice. Likewise if the campaign yields no results in the early stages, the entire campaign can be stopped and a new approach taken with little financial loss.
Another asset to online marketing is the ability to target the exact demographic you want to see your campaign. Thanks to the vast variety available online, you can easily find ways to reach specific age groups, genders, income levels, education levels and occupations.
The types of advertising you can accomplish online is all encompassing. Commercial like videos, blogs, audio, email, social media and newsletters can all be accomplished for a fraction of the price it would take to get those same messages out over radio, television and print.
The best aspect of online marketing is the ability to have instant conversion. In the traditional forms of advertising a potential customer would have to see or hear your advertisement and remember to look you up when they had time. More often than not, unless you were advertising something the consumer just could not live without the idea to look you up was quickly forgotten. With online marketing the consumer has the ability to instantly click for more details, and often will turn into a customer on the spot by making a purchase.
All in all, when marketing funding is limited, it is a much safer bet to place your money where your next customer is sure to be found. Online marketing provides a much faster impact to your bottom line than any form of traditional advertising can offer.