The future of marketing and advertising is online. Today, the internet is the fastest growing medium for advertising, and by 2017 it will be the biggest medium in one-third of the global ad market.What does this mean for your business? It means your customers are leaving their TV screens, their magazines, their newspapers and are moving to their mobile devices and PCs.
This could actually be great for your business, since you can now reach a wider audience for less and drive more engagement than you would using traditional advertising and marketing mediums. Furthermore, the effectiveness of online advertising is impressive, here are a few facts:
1. Online advertising encourages word of mouth sharing. Online shares are almost as valuable as in-person recommendations, which is believed by 92% of consumers.
2. The Return on Investment on online advertising is $3 for every $1 spend according to this report
3. Online advertising is the most efficient medium for driving short-sales in the FMCG sector and also drives ROI for your other media spend (Econometrics study)
Now, don’t get carried away by all this impressive and amazing stats, online advertising is a beast in itself. The options available to you are countless, and every platform has its own set of rules.
Yes, online advertising is the way to go if you are serious about reaching a wide audience, driving sales and building customer engagement. But before you dive in, keep these things in mind:
You need strategy: This involves knowing your target audience, identifying the platforms they are on, developing a message that cuts across those platforms and aligns with your brand message at the same time.
Important questions to ask when developing your strategy are:
Who is your target market (what is their demographics, psychographics etc.)?
What platforms will you invest in (Social media, Search, Display Ads, Mobile or Email)?
What is your unique selling proposition?
How will you differentiate your brand from your competitors online?
How will your online advertising convert to sales?
You need to set a goal: Greg Satell, the former Co-CEO of KP Media says ‘’how you define your intent will have a profound impact on whether you succeed or fail.’’ You need to set clear business objectives before spending a dime on online adverts. Are you trying to build awareness for your business/product? Are you looking to drive sales or are you looking for customer advocates to act as your brand ambassadors? Once your objective is clear, then can you decide on the best channels.
Results don’t come overnight: It takes at least 3 months of continuous ad exposure for advertising to have an impact. Don’t expect to see results the first day you put your ad up online.
Views are not equal to sales: Advertising is targeted to achieve 1) brand awareness 2) increase traffic and 3) drive sales. Whatever your business objective is, it is important to use every opportunity to not only build awareness, but capture sales leads.
Optimize for Mobile: Over 70% of internet users in Nigeria access the internet with their mobile devices. This means all your online advertising efforts must link to a mobile friendly platform in order for you not to break the experience.
Here are a few tips to optimize your website for the web:
Remove non-essential images
Optimize your page speed
Include phone numbers so users can simply click to call
Use larger fonts
Need more advice on online advertising and the best platforms for your business? Contact me for a free consultation.
About the Author: Mason Frederick Chegwe is an intelligent business developer committed to building brands customers love. He provides practical tips you can use to achieve your marketing and sales goals. Connect with him on Twitter and LinkedIn
