Wednesday, November 30, 2011

Online Advertising Strategy

Online advertising is a key strategy for those who know the real value of it. How can i say this? Ok here is an example.

Imagine you have a website that wants to sell a product X which costs like 1000$. The profit margin you have in that product is 30 percent which is 300$ after excluding all expenses including delivery charges. Now think that your website is not in the top search engine results and all the visitors have been from your own circle. What is the option you have got now? Yes, Online advertising can help in such cases to a large extent. Lets imagine the product X has a bid value of 10$ for one click in google for the most relevant keyword like "Buy X Online". This ultimately means that, you get an opportunity to be on the first page of search results for the keyword and additionally you have 29 chances left before someone purchases it to make the least profit. Now think about it. Isn't that easy for you to build a strategy like that rather than the hard marketing techniques you use to sell your product? With good presence online and customer care services, you could easily end up making a fortune. 

So whats the negative about it? 

The customers visiting your website necessarily need not be compulsory purchasers. So sometimes you could also end up spending more for advertising than the profit you make yourself. But I would argue that as positive as well in another point of view. For example, a person coming through those keywords are for sure looking for your product or a similar product. Now the visibility you have given to your website/product to a customer like that would most probably help you in gaining retention or referrals when there is a future need. 

Another major hook that i noticed was that advertising in google tends to be the best among all the campaigns. The simple reason is because users search in google when they are looking for a product which in turn gives you potential customers if you have advertised to that keyword. Advertising in facebook/ linkedin or any other social networking sites might give you visibility but not potential customers. So if you really want to create your brand awareness, then social networking sites are the best option. Linkedin has become a source of destination these days for Networking and Human Resource professionals.

So what are the different forms of advertising techniques? 

There are a lot of different advertising techniques these days. The most common are cost per click and cost per thousand impression. Cost per click also known as Pay Per Click (PPC) is the most likely used technique as you do not pay until someone clicks on your advertisement. With this technique in google you would be able to clearly see the number of people visiting your website and the number of conversions taking place. Some websites also provide options like annual/ half yearly/ quarterly display of your advertisement at a cost. This could as well be another good technique. By finding relevant websites to your product, you could easily create more awareness among the industry you want to. 

Looking to run a campaign for online advertising or need more information? Contact us at i-proconsulting.com or email us at info@i-proconsulting.com
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