When you're depending on a good conversion rate on your ads, you want to make every dollar count for as much as possible. You pay top dollar to lead people to your business, and it's important to get the most out of your marketing budget.
Online marketing accomplishes this much better than traditional print ad campaigns. This method of advertising has the advantage of targeted algorithms and a wide audience to seek out new clients and customers who could use your products or services.
When planning your marketing budget, make sure to allot at least 25% to online marketing. The actual rate you allocate depends a lot on the nature of your business and the geographic spread of your client base. (For instance, a local coffee shop depends less on online advertising than local print campaigns and word of mouth.) However, online marketing has several advantages over traditional campaigns that lead to higher conversion rates.
1) You advertise to a highly targeted audience. Online marketing programs have advanced algorithms to display your ad to people who could actually use your services. For instance, if you offer financial consulting, your business could be advertised on personal finance and debt relief site. Chances are, people browsing those pages would be interested in your services.
If you post in the newspaper, you're paying for a wide variety of eyes to see your advertisement. Most people are probably not interested and barely take notice of the ad, yet you still foot the bill.
Online advertising is much more efficient in this regard. If someone is interested in your ad, they will click through to your site and possibly become a customer. Online ads show off your business to the right people.
2) You only pay if someone clicks on your ad. You don't have to worry about needlessly paying for space in a newspaper and getting no leads.
With most affiliate and advertising platforms, you only pay if someone clicks through to your website to learn more about your service. It's up to you to hook them in once they're on your website, but you can see how the online conversion rate is infinitely better than print advertising.
3) You reach a national or global client-base. Some businesses are local, but many are able to serve a wide geographic client base. Rather than advertising in the local paper, online marketing lets you reach potential customers all over the globe.
There may be only two people in a thousand who would use your service, but if you can reach 100,000 people, that might just get your business rolling. Online marketing casts your nets wider than traditional print campaigns.
Depending on the nature of your business, using online platforms in your marketing campaign can make a huge difference in sales and conversions. Some businesses market exclusively online, and some local businesses have experienced a nice boost in sales since reaching out to customers on the Internet.