Running a business today is quite different from what it was, say, a decade ago. After all, we live in the age of computers, broadband, iPods, iPads, Facebooks and Orkuts. Hence the requirements of businesses have also changed over a period of time. Today, irrespective of the type of business it is imperative to have an Online Marketing plan in place. Over a period of time, even social media-shy companies which initially thought that an online presence is just an “option” are now vouching for its viability. The question then arises as to why is online marketing so important for companies?
For starters, it has the ability to be an additional source of revenue for the company. Moreover, it can be an important platform for promoting your products/services besides serving as a public relation tool. An all-inclusive website complete with social features would enable customers to get requisite information about the products sold by your company; this in turn can result in actual sales for the company. Another advantage of internet marketing is that it is always on and never stops, i.e. your online marketing is active 24/7. Then there are geographical advantages too. Suppose you are the owner of an engineering company, say L&T, and one of your prospective clients based abroad, is interested in knowing your capabilities in Construction & Infrastructure. In this case, L&T can pitch to the client via its informative website by furnishing complete details about the projects completed by the firm as well as its efficiency in turning around projects. This could result in a definite lucrative deal. Online marketing is important for small and medium enterprises as well. For it gives them an opportunity to cater to a larger target audience compared to other conventional modes of marketing.
However, a successful online presence is not something that companies stumble upon by chance. The Online Marketing Plan needs to be formulated well in line with the core values and objectives of the company. Merely having a website is like having a business card which, unless you give it to others, is of no use. A key aspect to planning this is allocation of adequate budget to aid search engine optimization. Further, the plan would involve defining your target audience and creating content on your website in accord with your target audience. Moreover online marketing is a continuous process and it needs to assessed frequently in order to achieve optimum results.
Undeniably, companies are leaving no stone unturned in trying to attract consumers towards their brands. This endeavour has resulted in social media marketing gaining worldwide recognition. With the soaring popularity of social networking sites like Facebook, Myspace, Orkut, Cyworld etc., companies are looking to either advertise on these sites or kick off a viral marketing campaign. According to a recent study by Harvard Business School, viral marketing is the way ahead in terms of social media marketing.
Online marketing, if well planned and used prudently, can maximise profits for companies of all sizes and operating in different sectors.
