Sometimes businesses question the advantages of marketing on the internet. Will they get a payback if they invest time and effort in developing an online presence?
One way of judging the effectiveness of a marketing channel is to assess whether other businesses are advertising on it. And according to a news report that I read the other day the internet is the place to be!
In 2012 more than £5 billion was spent on online advertising in the United Kingdom. This was significantly more than in 2011 and the rate of growth was greater than that in other advertising markets.
Magazines and regional newspapers continue to experience declines in advertising revenues. These traditional media outlets are finding it harder and harder to compete with the power of the internet and advertising online.
So where is the money being spent online? Top of the list is search advertising, with Google and Bing still dominating this market. Their pay per click model, where relevant advertisements are displayed alongside search engine results, has the huge advantage of being targeted.
Businesses know that their ads are being seen by people who are interested in their niche market. That is effective advertising.
A big growth area last year was social network advertising. And there is a reason for this – research has shown that 25% of the time spent online by internet users in the UK is on social network sites. No wonder Facebook has been so successful in getting more advertisements on its site.
Another growth area has been in online video advertising. The ease with which videos can be uploaded and viewed on the internet has contributed to the popularity of this medium for creating information online. Many internet searches now target sites such as YouTube.
As a result the amount of money spent on adverts that appear before, during and after video clips almost doubled in 2012.
Video marketing is obviously not the only marketing tool available free, but it is, without doubt, the most viral. The public and potential buyer are attracted to the videos, and that is something that any marketer can benefit from.
Videos work continuously, 24 hours a day every day of the year, offering explanations about your products and services far more effectively and clearly than any text on a corporate website.
All this data confirms the increasing importance of the internet to businesses. People are actively seeking and finding information online and if you’re not there your competitors will be!
So consider how you can take advantage of the trends identified above to improve the marketing of your business online.
That could involve uploading information that is search engine optimised to your website, advertising using pay per click, researching the potential of social networking sites in your market or sharing videos online.