Online Marketing is defined as utilizing the services of the internet in terms of advertising and marketing. There are different forms of Online Marketing such as pay-per-click, SEO, Email marketing campaigns, and banner advertising. In this marketing strategy, you can now reach customers globally.
Furthermore, internet marketing does not involve a start-up capital. You can start blog-marketing, email marketing and etc. without spending a dime which is very contradictory to the traditional ways of marketing where you are obliged to spend money for the factors of production.
Online Marketing is cheaper than Traditional Marketing. This method of marketing does not involve much of a fuss when it comes to budget handling because it does not include the stalls, the pamphlets and the flyers that any person who sticks with the Traditional ways of marketing has to deal with.
The major benefit of setting up or moving a business online is the cost advantages of doing so. A firm can save a number of costs namely:
Customer’s Data Collection and Personalization
Internet marketing fares better than traditional marketing when it comes to the collection of customer’s data because millions of customers can be served with varied items in the same online mall based on each customer’s interests which is indicated by their white list, former products purchased, pages visited, IP address, and internet cookies.
This will make it easier for the customer to get the desired products in no time without trouble.
The internet enables businesses to analyze their competitor’s online strategy and status. A firm can keep abreast of new products that are released, react to changes, or use the internet to discovery secondary data. The internet allows the firms to abruptly react to changes on their competitor’s strategy and it tries to provide a service that will allow them to match or beat their competitors.
Other Benefits of Online Marketing: