Even in the last couple years the advent of social marketing has revolutionize what was considered the norm for online marketing.
What new changes are in store for us next and where will it lead are questions yet to be answered. The only certainty is the changes are here to stay!
Let's have a look at 5 ways traditional marketing strategies have been changed by the ever evolving online world:
Business Expenses
Online marketing has dramatically reduced the costs affiliated with promoting anything to the general public. The ability to contact and send messages to literally anyone online free of charge has significantly decreased the cost of advertising for many businesses big or small.
Formerly attempts to direct promotional messages to the masses were conducted thru channels that cost money. Television, radio, billboard advertising, and even direct mail could quickly chew up even the hardiest advertising budgets. Now free access to the internet has significantly relieved the pressure on business expenses due to reductions in advertising costs.
Performance Metrics
With the added ability to track marketing results online through various software applications business expenses can be even more closely monitored.
To be able to quickly and efficiently determine the performance metrics of any given promotion is priceless to any business. Reaction time to necessary cost adjustments or decisions is greatly reduced. This time savings can lead to significant profit increases or cost savings.
Global Access
The internet no longer binds people by geographical boundaries. This unlimited access has opened opportunities for businesses both large and small that formerly were not available.
Additionally, due to differences in time zones, many firms can now conduct business 24/7 with the aid of computerization. Imagine the growth potential of any business now that both the market size and hours of operation have been expanded!
Reversal of Marketing Direction
Traditional marketing strategies typically used a more aggressive approach when pursuing customers. This type of advertising relied upon delivering the intended promotional message to the consumer. The desired effect was to CREATE a need or want within the consumer to attract them to the product or service being advertised.
The typical online shopper now makes their OWN decision based upon a search they conduct. This selection is made with little influence from the promoters themselves.
Online marketing promotional efforts now direct their efforts more towards positioning their product for selection as opposed to directly promoting to the consumer. As a result promotional tactics formerly used known as "push marketing" have now transitioned into more of an approach referred to as "pull marketing."
These types of marketing strategies requires the proper use of keyword research and utilization on the part of the seller. Also the correct usage of search engine optimization is needed to better position goods and services for higher search engine rankings.
Social Marketing
As the internet continues to evolve so do the preferences of the user and the way they interact online. Blogging as a result has seen a growth in popularity due to the interaction between users and site owners thru the ability to leave comments. Another leading factor in the growth of blogs is the frequency with which fresh content is posted.
Users want more involvement and stimulation from online sites and blogs answered this need. As of result social network sites started to dot the internet landscape and have now have fully blossomed to dominate the internet mainstream.
Marketers both big and small have recognized the potential of these sites for promotional purposes. Now social marketing is one of the most dynamic and effective means with which to promote just about anything online. From Wall Street to Main Street you can find just about any type product or service being offered on many of these hugely popular sites.
No doubt internet marketing has made an indelible impact on a global scale. From the change in promotional tactics to the geographical expanse it affordably offers, online marketing is here to stay. As it seems to continue to evolve merchants need to recognize and utilize the newly efficient ways in which goods and services will be brought to the consuming public.
TJ Philpott is an author and Internet entrepreneur based out of North Carolina.
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