5 Benefits of Online Marketing for Businesses

By Cheow Yu Yuan, December 16 2008

In 2003, more than 65% of Singapore households own internet access. By 2007, this has increased to 74%. As people are increasingly internet-savvy, the realm of online marketing presents an exquisite opportunity for marketers to advertise their businesses to the masses.

Among the various online marketing channels, search engines remain as the most popular channel for marketers to advertise their businesses. According to the research conducted by Outsell Inc, search engine marketing is projected to grow by 39% in year 2008. Over 85% of the consumers will use search engines to look for products and services during their buying decision making process - therefore search engines are definitely an important marketing tool for businesses.

So why is online marketing so popular among marketers? In this article, let me highlight 5 important benefits of online marketing:

1. Cost-effective. In comparison to direct mailers and TV advertisements for corporate advertising, online marketing channels such as email/Electronic Direct Marketing (EDM) broadcast are definitely more cost-effective. For example, with email marketing, you will incur copywriting and design costs but will completely eliminate additional costs of mailing and printing.

2. Higher returns on investments (ROI). With online marketing, you can stretch your existing marketing budget and achieve a better ROI. For example, with search engine pay-per-click advertising, you will only pay when someone clicks on your ads and visits your website. Those people that click on your ads are highly qualified and targeted prospects which will definitely increase your campaign conversion rate.

3. Real-time tracking of campaign performance. With online marketing, you can track the performance of your campaign at real time. Tracking programs such as Google Analytics allows you to identify the number of visitors that a campaign brings to your website and how long those visitors stay and interact with your web. These are important information that you can use to improve the conversion of your campaign.

4. Greater flexibility. Unlike a brochure, products and prices are fixed until the next printing. An online campaign or catalogue can be adjusted daily or even hourly, adapting product availability, prices, and promotions to match changing market conditions.

5. Access to global market easily. Internet allows people from all around the world to communicate and do business with one another by just a few clicks of the mouse. With online marketing, you can now reach the global audience easily.

So if you are still new to online marketing, embrace this new marketing channel today. Stay ahead of your competitors by leveraging on the all new power of online marketing.