The world’s economy is going through one of its worst crisis in history, with many experts predicting a global economical recession, countries approving multi-billion dollars bailout programs to help their economies to survive and companies having to cut down their costs.
One of the first things on CEOs and Managing Directors minds is to reduce spending; this often includes their marketing campaigns. But this is exactly when marketing plays an important role to ensure a company is well known and easily found for economic growth.
Online Marketing is a great way of providing Local, National, even Global coverage to promote businesses. As the name already suggests – Online Marketing is any type of marketing via the Internet; email marketing, search engine marketing or search engine optimisation campaigns, social media marketing, blog marketing social networking or any other form of promoting your business via Internet.
Four factors put online marketing ahead of any other marketing techniques during an economic downturn:
1 – Measurement
Traditional marketing campaigns often lack measurement. With online marketing and a good web analytics package, you are able to track, measure, document the effect, adjust and justify your marketing investments.
2 – Immediate Effect
It is almost impossible to know how effective a TV commercial or other type offline advertisement is. Online marketing methods have a direct value on sales; especially search engine marketing.
3 – Good ROI
The success of a marketing campaign is measured by its ROI (return over investment); the higher the better; and there are few things beating online marketing. For every dollar spent on online marketing, marketers are making more than a dollar through sales or other conversions on their sites.
4 – Small Budgets
Online marketing can start with a small budget and gradually increase it as it succeeds, then reduce to maintain success. Many multi-million dollar companies are basing their economic strategies around this simple principle nowadays.
The DMA estimates that expenditures with online marketing will maintain a significant growth in the coming year with more than 50% of U.S marketing dollars directed to Interactive marketing.
We would like to hear your opinion; with the computer screen rapidly becoming the shop window of the future, should companies prioritise their marketing budgets on online marketing? Add your view in our comments section below.