With today’s technology businesses cannot meet their full potential without using online marketing. The days of relying on word-of-mouth advertising are no longer reliable when it comes to growing your sales, reputation or consumer base. Even in Hawaii the importance of online marketing cannot be stressed enough.
Online marketing brings a much higher return on investment (ROI) for the time and money spent in trying to generate sales and get the attention required to not only retain loyal customers but gain new ones. And without sales, the profitability margins for any business is going to be incredibly lower than needed to remain not only in business but to have a successful business venue. Without turning a profit, there is no reason even to have a business.
Online marketing can lead to a five percent increase in retaining customers which will increase profits anywhere from 25% – 95%, according to research studies. That is a substantial increase in profitability even on the low end of the spectrum.
So why is online marketing so important? Approximately 60% of all global Internet users will research products they are looking for online first before purchasing. 44% of all online shoppers start by using search engines to look for products they already desire or to discover new and interesting products or services are available.
According to a Comscore report, there are 12 BILLION searches a month on the web in the U.S. alone! That holds a huge potential for bringing in new consumers and growing your customer base. A potential that is just not even remotely possible using traditional means of branding like word-of-mouth or print advertising. And a whopping 86% of consumers reported using a search engine permitted them to discover or learn new or important information.
With almost everyone today owning smartphones, research has shown that half of all mobile searches are conducted by those hoping to find local results for those products or service they are looking for and over 60% of those searches resulted in purchases. Which is important especially for those businesses that are hoping to gain sales from visitors who are in the area for vacation or relocation reasons. If your business doesn’t have an online presence, it can mean you are missing out on a whole lot of potential profits, building a larger customer base and the potential to sell your products or services online.
So what is involved in having a great online marketing strategy? Social media is the new face of online marketing. Social media such as Google+, Facebook, Twitter, and more are instrumental in building brand awareness, and growing your customer base any of the traditional marketing schemes. With over 1.5 billion Facebook users monthly that are a huge potential for gaining attention to your brand.
Using social media also allows you to target your audience demographically. Most importantly, over 40% of marketers have said that Facebook alone is critical to their business, in part because the chances are pretty high your competitor(s) already have a business profile on Facebook. Factor in the billions of people who are also on Twitter and other social media sites, not using online marketing is a sure fire way to lose business.
Other aspects of online marketing include email campaigns that generate customer interaction with your company, inform potential customers of your products or services and announce promotions. Understanding how the SEO (search engine optimization) works to bring a higher return on your marketing campaigns online.
So if you are serious about growing your business and making a good profit, online marketing is a must. For those who are new to online marketing an excellent way to start is to contact an online marketing company to help you get started on achieving a higher ROI today.
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