Learning how to grow your business isn’t just a worthy goal; it is often a necessity for your business’s survival and your economic well-being. What can you do to get your business beyond the bare sustenance level? What can you do to turn it into the income-generating powerhouse you envision?
Enter online marketing.
This is one of the most lucrative markets due to the number of people it can reach, but also due to the extremely targeted approach that isn't available with any other form of advertising. Yet, your money can just as easily be thrown out the window if not done properly.
The major online advertising options (described below) offer enough variety so businesses of any size, type, and budgetary constraints can conduct an ad campaign that suits their needs. Online advertising affords certain benefits that business marketers can leverage:
Advertise only to those in the target audiences, with easily-customizable, specific messaging, since “online” is where customers are
Track effectiveness via metrics demonstrating an ad’s impact on traffic to the website or other measures, then modify in real-time as needed
Businesses of any size and type can participate
Online advertising is much more fluid and dynamic than simple print ads. Online ads can and should be precise in who they target, going only to viewers based on location, age, interests, or other demographics relevant to the business. Most businesses structure and pay for online ads in one of two ways: pay-per-click advertising or fixed rate advertising.
Pay-per-click (PPC) is paying for an ad based solely on the amount of clicks it gets. A business can post multiple versions of the same ad and quickly see which gets the most clicks and make changes as needed. This is effective for those with a strict budget, as spending limits can be preset.
Fixed Rate is when businesses pay a set price for ads up front, and is used often on content-focused sites where the target audience is likely already there.
In both cases, the ‘click’ goes to the business’s homepage or a content-specific landing page.
Advertising has always been a powerful tool, but when you combine it with technology, the results can be astounding!