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Online business and marketing tips

Wednesday, 15 January 2014

The recent recession has taken its toll on many businesses. Consequentially, many business owners find themselves cutting spending to keep their doors open. In times of financial uncertainty, it is important to go through your business model to see where you can cut costs; if you find non-essential functions, it is important to get rid of them.

Historically speaking, most business owners consider their marketing budget to be non-essential; they fail to see the revenue that a good marketing plan can bring in. A properly conceived plan that implements good marketing strategies can raise a company's profile in the marketplace; this builds your brand and increases customer loyalty.

Cutting a marketing budget without thinking about the impact that it will have on your business can be devastating. Experienced marketers like John Ferraro E&Y know this, but they still often experience pressure to reduce spending by cutting marketing.

Online marketing is a good way to reach customers without spending exorbitant amounts of money on your marketing campaigns. With the advent of social media and Web 2.0 properties, business owners now have the chance to effectively market their company through new channels. Marketing is changing due to the Internet; businesses that embrace these changes are likely to see success in the future.

Traditional marketing metrics can fall short when they don't offer actionable data. Using Web 2.0, business owners are able to prioritize their visitors by how likely they are to take a specific action; you can segment off people who are the most likely to buy your products. This gives you a great advantage over businesses that aren't targeting their customers. When you target your customers, you spend less for more conversions.

Customers tend to stay engaged with Web 2.0 and social media sites. Let your audience self-select where they want to go on your site; this gives them the illusion of control. When you do this, they feel like you aren't pressuring them into purchasing your products; this makes them more likely to actually pull out their wallets and make a purchase.

Advertising on the Internet is very efficient when it is done correctly. It is easy to capture data about your customers and prospects; every interaction is recorded and captured. This data results in better intelligence about your visitors. It is easy to gain valuable insights about your customers when you have this much information at your fingertips.

The Internet gives you a chance to repurpose your old marketing materials; if you aren't repurposing old materials, then you are throwing money down the drain. If you've spent time in the past coming up with a successful marketing campaign, it is important to throw it online as well; this gives you access to customers who may have never seen your old campaign. Leveraging your old materials to new customers gives you an advantage over your competitors.

If you want to stay successful in today's business world, it is important to create a smart marketing campaign. If you cut your marketing budget without a backup plan, then your business is likely to lose out to others that branch out. One of the easiest ways to increase your brand awareness and attract potential customers is to market to them on the Internet; it's an affordable way to use new technology to help your business grow during tough times.

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