[message type="simple"]“If you fail to plan, you plan to fail” – Philip Kotler[/message]
Every Startup has its own marketing challenges that must be understood immediately & necessary actions should be taken before it is too late. Most of the small business fails not because of their idea but because they fail to communicate their marketing message to the right audience properly.
Below are some most common marketing problems that can be solved effectively by learning internet marketing skills.
Being a startup, we have to play with limited resources & the majority of our
investment is spent on initial branding and marketing. Conventional modes of promotion are becoming costly day by day & as a starting business, it is always hard to include various marketing channels in our marketing strategy.
After identifying your target market and audience, you need to approach them & this is where the marketing plan starts. The problem arises with choosing the right advertising media within our limited budget. Most of the running capital of a starting business burns into marketing and promotion.
According to Wikipedia, top advantages of small business - “Small business is well suited to internet marketing because it can easily serve specialized niches, something that would have been more difficult prior to the internet revolution which began in the late 1990s.”
Internet Marketing is less expensive than any other media, also its easy to change marketing message at any stage.
Conventional Marketing is not focused and it is hard to target the right prospect and spend money for customer acquisition. Suppose, you plan to target a specific region or group of users for the product or service you offer, how would you do that? Most of your marketing money gets wasted since you pay for huge circulation, not for your target audience (e.g. Newspaper Marketing or Radio Commercials). Can you ask them to show your ad to your target audience only and you would pay accordingly? Never!
Thanks to internet technology where we can spend every single coin wisely to reach and acquire your target market as per their location, demographics, interests, behavior etc.
Internet Marketing is focused & can be more personalized.
Do you know your advertising expenditure life? How long your marketing money works? Does it accumulate or dies every time?
Conventional Advertising has very short life span, you pay for one edition or one day (even sometimes for one hour), if that works then OK, Either get ready to write another cheque.
On the other hand if, internet marketing is done properly with planning it can last for years, sending you regular prospects.
Internet Marketing - It Never Dies
Conventional Marketing is also ‘Interruption Marketing’, or ‘outbound marketing’ since you need to interrupt people to promote your product or services & your audience is not interested to see your ad any more. We also call it ‘Push Marketing’, where you try to push your product forcefully.
Modern Internet marketing approaches can help you to engage your target audience and promoting your products or services in a way that people love to see it again and again.
This 6:25 min video by Pepsi is a fantastic example of it, jump to 2:00 if you're impatient -
Internet Marketing can be engaging & leads to interactive advertising – Inbound Marketing Model
“Half the money I spend on advertising is wasted; the trouble is I don't know which half.” – This popular statement was given by John Wanamaker - Father of modern advertising.
[message type="simple"]Conventional marketing still have the same question unanswered even after 92 years of Wanamaker.[/message]
Suppose you publish your ad in your local newspaper, do you have any data to calculate the effectiveness of that ad? How would you decide, whether to repeat it or not?
Thanks to era of internet marketing, now we can measure the effectiveness of every penny spent.
Internet Marketing Tools have stronger tracking and analysis capabilities.
You might have some more interesting points to share, let us know your thoughts on this topic in the below comment section. I would highly appreciate your participation.