Online marketing is a powerful tool for a business. However, it’s not right for everyone. It requires a lot of planning and foresight to have the best success rate possible. Many cannot handle the extended reach of their online presence so they need to employ digital marketing professionals who know how to optimize this power for businesses. This article will discuss some of the advantages and disadvantages of online marketing to help you consider it for your business venture.
The Pros of Online Marketing
1. Reach
With online marketing, you never have to worry about physical limitations again. You can reach people all over the world with your message now. The only limitation is the diversity and distribution of your audience. Before people started using sites like Facebook, Twitter, and Google+, it really was difficult to reach people outside of your geographic location. Now, you can tap into this larger market by simply understanding how your product or service can tangibly benefit them before you try to reach out.
2. Market Research
Marketing research is a much more efficient process now. You don’t have to wait for physical results to measure the success of your online marketing techniques. Everything is done digitally so it’s much easier and cheaper to track search trends, view website data, and observe user behavior on social media. You can also use social media to find out what your competitors are doing and what kind of strategies they employ, whether directly or indirectly. Just another reason why you should never do anything shady in the realm of business because everything is out there for everyone to see and it’s very difficult to erase this type of digital footprint.
3. Multi-Platform Capability
It is now possible to use the same digital marketing techniques on all platforms. This includes Facebook, Twitter, Google+, LinkedIn, Pinterest, and many others. Your reach is not limited to your online presence any longer because you can cross-promote your products and services on each of these platforms and engage with your audience more effectively. You can also find data on your target audience which you wouldn’t be able to get via normal surveys and focus groups. This type of insight is invaluable for marketers who know how to access it properly.
4. Less Expensive
Digital marketing is becoming less expensive by the day because more people are engaging with social media than ever before. If you want to be successful in this regard, it’s important to tap into what your target audience wants and not try to force-feed them something. Even paid advertising doesn’t have to cost a lot of money if done properly. You can use social media influencers or targeted ads with specific demographics for the best results.
The Cons of Online Marketing
1. Digital Footprint
Everything you do online leaves a digital footprint, much like your fingerprints do in real life. If you’re not careful about your online marketing efforts and strategies, you can end up making some pretty big mistakes that can turn into very expensive lessons if your business doesn’t have the necessary funds.
2. Competition
Your biggest disadvantage in digital marketing is that your competition can learn from what you’re doing just as easily as you can. Your online presence, how often you post, and even your followers can be used against you if your competition is smart. They could easily re-post or re-tweet your content which would put them in front of more people than you. Smart marketers stay one step ahead of this type of behavior though by using the same social media techniques their competition uses to keep track of what they’re doing.
3. Social Media Burnout
People are becoming social media fatigued which means they’re over-exposed to what’s happening online and might not even consider engaging with your brand or product if it doesn’t provide some sort of benefit to them.
4. Digital Transformation
Many people are still resistant to change even if it would be beneficial for them to embrace it. There’s a lot of fear regarding digital transformation because many feel that their businesses will suffer or they’ll need significantly more investment capital than what they already have to compete with larger corporations who are already taking advantage of this.
Ultimately, the pros and cons of online marketing will depend on your business. If you’re new to this type of digital platform then it’s best to hire someone with experience who can guide you through the process and help get started with a solid SEO or marketing plan that works for your company. The right experts know how to embrace change while still maintaining success in their industry which is something all companies should strive towards whether they’re competing against other businesses or trying to reach consumers looking for products and services.
