There are not too many companies out there who have not felt the effects of the economy…nobody is truly immune though some have obviously been hit harder than others. Regardless of what industry we are talking about, companies large and small have to work twice as hard now to earn half the business. Businesses still need a powerful way to market their brand and bring in new customers, but how can anyone afford to do this? The answer of course is through strategic Internet marketing and online media buying.
Naturally, Internet marketing like any other form of media/advertising costs money. The good news is that it is definitely more cost effective than traditional forms of media and it can be measured and adjusted on the fly. Nothing out there is more fluid and adaptable. Everyone wants the best possible return on their invested marketing dollars which is why businesses are changing the way they think about online marketing.
If your businss is new to the Internet marketing game, here are a few tips:
- Understand where your customers are looking for companies like yours: Research how customers seek your services online and gather information that will halp you determine keyword usage, estimated traffic volumes and possible conversions.
- Reallocate the necessary budget for a comprehensive Internet marketing campaign: Consider all areas of online marketing such as redesigning your website, search engine optimization, pay per click advertising, social media marketing, online media buying, email marketing, etc. Do not be afraid to try something new because you will most likely need to pull some or all of your budget away from traditional media strategies that are too expensive and not measurable.
- Make sure you know what you are doing: The best way to approach this if you are new to the game is to hire an Internet marketing company that can help you plan your strategy based on your business goals.
- Set bussiness gaols for the year and work backwords: Your online marketing plan should reflect your goals and be designed to bring those exact goals to reality.
- Internet marketing is the most measurable form of media, so don’t forget to measure it: One mistake companies make when launching new SEO and PPC campaigns is that they forget what tools they have at their disposal to ensure the best possible ROI. Test, adjust, and test some more. Repeat this process every month so you can constantly refine the process.
- Make sure all aspects of your campaign support one another: For example, if you are doing PPC, have the appropraite landing pages set up to capture business.
- Constantly monitor your online competition: Chances are that other companies have a good head start…but don’t worry. It is important to understand where your competition is appearing onine, what message they are sending to the target audience, etc.
- Be flexible in your strategy: Internet marketing can and should be updated and changed regularly to adapt to customer response and competitive shifts.
The best advice to offer is to not wait any longer. Your competition may be way ahead of you and gaining market share. If done properly, a poor economy can be a great time to get a leg up on your competition. Raise money, invest in Internet marketing, hire people away from competitors, and grow!!