As an entrepreneur or a business owner marketing your business should be at the top of your priority list. Marketing creates awareness for your business or your brand and significantly increases your business when it is done right. Online marketing has slowly gained popularity over the years. It has its advantages as well as disadvantages. From its popularity, I can safely say that the good outweighs the bad.
Some of the Advantages of Online Marketing Include:
1. An Easy Way To Do Business
When you market your goods or services online, you give your clients easy access to information. If it is a product they wish to purchase, for example, they can simply log onto your website and view the variety of products on offer and the prices. This can be done any time the client wishes.
2. Open-Door to Possibilities
Online marketing presents infinite possibilities at your fingertips. When you get a website for your company, anyone around the globe can access it. For example, if your company located in New York City opens a website to market its goods, a client from Tokyo can reach out and order, which will turn your company from a local business to an international one in no time.
3. Equal Opportunities
Online marketing is pocket friendly. Before online marketing was available, marketing of a small company’s goods and services was a pipe dream. It was far too expensive for a young entrepreneur or businessman to market his or her goods and services. Online marketing came in to bridge this gap and give equal opportunity to all.
4. Analyzing the Results
With online marketing, getting feedback from your clients is done very easily. You do not need to keep badgering your clients to fill in surveys or online forms, all you need to do is to track the number of visits per product or per page. In this scenario, any businessman or entrepreneur can be able to tell which products are the most popular and which ones are not performing as expected.
There are two sides to every coin and with online marketing, there is definitely an upside and a downside to it. Disadvantages of online marketing are fewer than the advantages, but are still worth a mention.
Some Drawbacks You Could Face:
- Lack of trust between the buyer and seller. Some people do not trust goods and services sold online and prefer physical encounters.
- There is a limitation to internet access. If one cannot access the internet, they will not be able to see the products and services that you have to offer.
- The presence of conmen and swindlers on the internet has made payment methods hard to trust. People will be cautious about paying for a product using their credit cards due to fear of being robbed.
A Fast Developing Industry
Given that the good points of online marketing have outweighed the bad in so many ways, you can start planning your marketing strategy that suits your business and brand. In the next part, I will be writing about the different channels and platform you can use to boost your company sales. Stay tuned for ‘Online Marketing for Your Business Part 2’ on Friday!