Online marketing, commonly known as Digital marketing or e-marketing, has become the most rewarding marketing method as more and more people are making online purchases. According to Statista, 1.66 billion people shop online each year.
Considering the fast-paced life, a large number of people avoid going to stores to make purchases and instead like to buy online. To attract your online customers, you have to make the best use of online marketing. It not only increases online sales, but many people also walk to your stores to find more variety of the products.
Digital marketing has numerous benefits and helps boost lead generation, yet it also has some disadvantages. Let’s discuss the advantages and disadvantages of online marketing in today’s world.
What is Digital Marketing?
Digital marketing refers to promoting your business through online platforms to connect to potential customers. It includes various online channels like social media, web advertising, SEO, email marketing, etc. Digital marketing typically means text, audio, pictures, or videos generated digitally and surfaced on digital platforms to reach customers.
Advantages of Digital Marketing
Digital marketing is a swiftly growing form of marketing with innovative strategies being introduced now and then. It initially started with email but has now reached social media and websites to market businesses. But, do you wonder why companies choose digital marketing?
The most important benefit of digital marketing is reaching a global audience. Another report by Statista shows that 3.6 billion people use social media globally.
Let’s assume you install two billboards in the most populated city areas with one million residents. There are chances that around half a million people will see your board, and you will succeed in attracting a considerable number of customers. On the other hand, reaching people through digital media allows you to reach millions of people at once.
Using the right online marketing methods can help you familiarize millions with your brand.
Reaching more people and presenting a compelling image of your product makes you a credible brand. Online reviews by customers and blogs help other people recognize your brand, and you can develop a brand swiftly compared to traditional means of marketing.
All forms of marketing come with a cost (except word of mouth), yet the costs vary from one method to another. Installing billboards around the city costs a lot more than running an ad on Facebook and billboards are not considered safe in many parts of the world. You can connect to a large customer base by running Facebook advertisements for people with similar interests at less cost.
Easy to Setup
While you usually have to go to an advertiser’s office to get brochures printed or have vehicles run around the city with your brand’s representation, you can market your brand online without having to step out of the house. Set up accounts easily on social media or Google to start advertising your brand right away.
Online web analytics tools allow you to track your progress in terms of impressions, clicks and leads generated. Despite this, you cannot get exact numbers to estimate the progress of physical marketing methods.
Disadvantages of Online Marketing
Besides the numerous advantages of digital marketing, there are still some disadvantages.
It is important to remember that online marketing is not only available for you, but people globally have access to digital marketing. They can use the same strategies and attract the same audience as yours. This leads to high competition in the market.
Though digital marketing saves you the trouble of going out and meeting with advertisers, other aspects take more time than traditional marketing. Setting up advertisements and looking for strategies that stand out is not an easy task and requires effort. It requires extensive research to ensure that your online marketing works better than your competitors, which is time-consuming.
Reviews can make or break a business. While positive reviews make you popular among the consumers, negative reviews have an opposite impact with a higher intensity. A potential customer might not trust a positive review completely, but a negative review on your social media page or website can make you lose a big client.
If you are thinking of basic marketing for your brand to reach the audience and are not focused on making a big name, you can do it all by yourself. However, if you want to make your brand an eminent name in the market, you will need to acquire digital marketing skills or hire a digital marketing professional to boost sales fast.
Keeping up to Date
Technology is ever-changing, and you may wake up to a new trend every day. Online marketing relies highly on current trends as it allows you to make the best out of a hot topic and use it to your benefit. You might not be able to get significant results out of your marketing budget if you are not up to date with trends.
Why do people choose digital marketing?
You might wonder why people opt for digital marketing despite all these disadvantages and the need to be tech-savvy. Digital marketing has emerged as a quick solution to marketing needs when orthodox methods take more time. While it is time-consuming and you have to fight high competition, digital marketing enables you to reach more potential customers and is comparatively light on your pocket.
The Bottom Line
Like everything else, there are some advantages and disadvantages of online marketing. It enables you to take your product to a wider market but also restricts you if you do not have much knowledge of technology. Some people consider the advantages to dominate the disadvantages, while some feel otherwise. Depending on the nature of your business and the marketing techniques convenient for you, you can explore different digital marketing options and choose the one that suits you the best. Or, just stick to traditional marketing methods if you find them more beneficial.
Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.