The Significance Of Marketing – Small Business Edition

The Significance Of Marketing – Small Business Edition

 

Where do I advertise and market my products and services?

Now that you have your business or even a private company, do you realize how vital a tool the internet can be? Internet marketing, also known as online marketing has nowadays become very popular and a crucial part of marketing to many companies.

Due to the extensive use of the internet and the rise of social media platforms like Facebook and Twitter, many companies have resulted into marketing their products online and obtaining feedback from their clients on their products or service through social media platforms as well. In this article, I intend to point out factors which have made internet marketing so successful as well as explain the significance of the same to small companies.

Real-Time Feedback guaranteed…

To begin with, internet marketing allows one on one communication with the clients about the product or service that they want. In most cases, the traditional marketing method is limited in this by the fact that the client has to either travel to the manufacturing company or vice versa or have a chat with the salesperson. With internet marketing through platforms such as online chats or feedback from social media, the response, and feedback in real time. This helps in getting constructive criticism about a product or service and have it improved within a short period of time and in increasing the turnaround time for response to client’s issues as well as improving customer service.

Accessibility…

Secondly, it is easily accessible. Let me ask you? Do you know that so many start-ups fail because they do not do considerable marketing and advertisement for their products? For instance, did you know that:

1. There are more than 1.2bn people across the world who use the internet entirely through their mobile phones?

2. When it comes to Business to Business sales ( B2B), Facebook and LinkedIn are rated as the most excellent driving factors? That more than 30%of the Top Fortune 500 CEO’s have a verified profile on either LinkedIn or Facebook?

3. At least 85% of the SME’s can prove that social media has helped them grow in their sales over the past year period.

4. The number of people who just visit the Facebook page per day is slightly more than 666 million. Think of an advert which is being seen by all these people!

From the extensive use of smartphones for e-commerce platforms like Amazon app to mobile banking applications, advertising on blogs, Facebook etc. Internet marketing is easily accessible and easy to interact with. Very many clients are able to see a sale for a particular product when advertised online rather than walking to a store to purchase a product. Due to this internet marketing has gained popularity and led to a boost in sales.

A sales channel…

The internet can also be used as a sales channel. Gone are the days when it was necessary to walk into a store to purchase a product. One can simply order for a product and have it delivered into his or her home. This means that it is not necessarily that the store be a rented physical construction, it can be an online store. Moreover, the coordinator of the online store can hire a transportation company to ferry the goods or services to the clients thus further reducing the costs of renting and transport. This is only able through internet marketing.

Surveys and Research are easily carried out…

Lastly is that is easy to carry out market research and in an economical way. All different types of consumers access the internet from young to old, different sexes and different social class and religious beliefs. All these clients have different tastes and preferences, if not expectations concerning a product or service. They are also likely to air their disappointments and reviews concerning a product or service and have the industry players respond to the same by being innovative and creating a new product or service.

Additionally, the presence of online surveys makes it possible to gather a lot of information concerning a particular product or service and have it promoted in the most suitable way. This is done at a very cheap cost since most of the times the company has only to create the online platform and wait for the customers to respond. The company can hence use the data collected as research data for future use and market segmentation. This is vital in knowing which product can be created and modified in order to have a constant demand for constant sales.

Last words of advice…

So thinking of advertising your products and selling them? Word of advice: Don’t rush to TV ads, Radio ads or Billboards, they are damn expensive and most significantly, easily forgotten too! Try out internet marketing first and see the results. You can start with Facebook, it is very cheap to advertise and sell your product. Thank me later!