Online Marketing Basics for Entrepreneurs
Posted by: Marketing Mindz
Online marketing or internet marketing is the promotion and advertising of products and services, using internet or web. This marketing technique has various specialized areas, like Social Media Marketing, AdWords, Email Marketing, Mobile Marketing, etc., that can be used to publicize different types of products.
Today’s competitive market situation demands for high investment in internet marketing to achieve growth and success. For every type of organization, investment in internet marketing proved to be highly useful, especially for the start-ups. To give a kick-start to business, entrepreneurs spend considerable amount of time in formulating successful marketing plans, focusing on online marketing. Here are some basic concepts that an entrepreneur needs to know to enhance its online marketing results.
- Profitable sales with upselling: The purpose of online sales campaign is to get profitability. But, instead of focusing on single sale campaign, shift focus towards upselling. Single Sale Campaign turns out to be unprofitable because of the increased advertising costs and price wars. Upselling is an advantageous solution that makes it profitable, and also helps in acquiring life time value of new or potential customers.
- Focus on lookalike customers: Collect data about the customers and learn about their online behavior. Use effective and functional targeting tools to find out users with similar online behaviors, aiming to increase your online sales. Some classic examples of this are Google Display Select Targeting and Facebook Lookalike Audiences. Google Display Select aims to people, who are similar to the ones that visit your site; while, Facebook Lookalike Audiences aims to people, who are either similar to those who already like your page or to profiles that are similar to the profiles of your existing customers. Both these tools work great to add traffic and increase conversions.
- Social Media: Social media is one of the most influential advertising tools. It offers various targeting methods that provide a good platform for most of the businesses. Facebook, Twitter, LinkedIn, Pinterest, YouTube and Google+ are some of the popular social media to reach to target audiences more effectively.
- Testing: Testing new promotional channels offers profitable results, but the process is pretty slow. This doesn’t mean that attention should not be paid towards it. Testing requires tune-ups or optimizations before increasing the budget. Moreover, it is profitable for accounts that are successful, but need more traffic volume to increase sales.
- Expand ad campaigns: Based on your learning and understanding of online marketing tactics, try to expand your ad campaigns. For example: Use Google Analytics platform to collect data on what pages people visit, how much time they spend on certain pages, age, gender, what products people bought after their first purchase, geographical area of your customers, etc. This will help in boosting up results across various platforms.