The Purpose of Online Advertising
Believe it or not, offline marketing is becoming obsolete by the day. Online advertising is slowly becoming the prime focus of every marketer. Even top-notch advertising firms such as Ogilvie and Marther, JWT, Mudra, FCB Ulka, and the like have started separate online divisions for their agencies across the globe.
Whether a business is big or small, online advertising can prove to be extremely beneficial for business. It not only fetches long term value, but also ensures that every penny you pay is worth it. Here is why an online advertising can be extremely effective:
Most online advertising program work on the principle of geometric progression, meaning not only does it get notified to your network, but also in your friend’s network and your friend’s friend network too. Even 1% conversion of your total reach can make your business swell like you never expected. A wider reach will not only help you to increase your sales, but also create awareness about your brand.
Target the Niche
While some businesses have products and services for masses, some target a very niche audience. Online advertising gives you the liberty to choose the target group you aim to reach. It is extremely critical for businesses, which offer high value products or services. You can target your audience based on a variety of parameters such as geography, age, education, income, religion, and nationality among others.
Less Costly Than Other Mediums
Online advertisements are way too inexpensive as compared to its offline counterparts. The best thing about online advertisement is that you can pay according to your budget. There are different options available as to how you can make your payment. The two most prevalent methods of online payments are known as impressions and CPC. Both are effective and you need to find out which one works best for your business.
Measure Your Investment
Gone are the days when people used to spend tons of money in the hope that their brand will get noticed and the products or services will get sold. In the digital age, you can actually measure your investment and get quantitative report on each campaign that you have spent money on. The numbers and various charts will help you understand which campaign is working for you and which ones are best to get rid of.
Make Brand Awareness
While selling is important, making brand awareness is all the more important looking at long term benefits. Online advertisement perfectly fits the bill when it comes to making people aware about your brand. It particularly makes sense for smaller businesses to opt for online advertisements as compared to the more conventional forms of advertisements.
Cost Acquisition Per Customer
Online advertisement ensures that the cost incurred to get customers is pretty less as compared to other mediums. It is a simple equation, if the cost of acquisition is low for your business, you will end up making more profit. It makes sense to spend online especially when the over head cost of a company is extremely high.
The Way Forward
With more penetration of the internet, the business benefits will keep increasing. Not to mention smart phones and tablets have made internet more accessible than ever before. With advantages such as these, consumers are slowly but surely going to get more aligned in online advertisement.
Moreover, the touch and feel of the buying process is drastically changing with the rapid advancement of technology. Another great advantage of online advertisement is that you get to show your advertisement only to those customers who are likely to buy the product. In this way, you are highly exposing your products and services to a set of targeted individuals.