Online advertising has taken the advertising world by storm in recent years and displaced traditional offline advertising from its top position in the global advertising hierarchy.
The seemingly limitless array of benefits offered by online advertising is unmatched.
This unique type of advertising presents both online and offline businesses with an effective platform to reach out to prospective customers and subsequently expand their market shares.
The exponential growth in internet usage around the world is apparently the secret behind the eclipsing of traditional offline advertising by online advertising.
Enumerating all the benefits of online advertising for both online and offline businesses may turn out to be a 800-page book writing project, if brevity is not employed.
The Shortcut of Target Marketing
Precision marketing that delivers good value for money is a distinctive advantage online advertising has over traditional offline advertising.
Online advertising allows advertisers to specifically target their desired niche markets. Online advertising is the best shortcut to ‘separate the chaff from the wheat’ by strictly reaching out to only those that are interested in a product. This way, an advertiser’s money is well spent.
Facebook, the world’s most widely used social media website, provides robust user demographics which makes life easier for advertisers and enables them to aim their marketing efforts at groups that are most likely to patronize their services.
For instance, an online retail store primarily dealing in soccer boots will have its ads displayed to all soccer groups and people that choose soccer as their hobby on Facebook. This will invariably result in high conversion rates for the retail store.
Opening Communication channels with Customers
Online advertising, unlike traditional advertising mediums, provides a medium for the advertiser (business) to interact with clients and customers. For example, a Facebook product page that provides comprehensive information on a business’ products and services enables prospective customers to make enquires. Happy customers post reviews on the page; which encourages the skeptical customer and culminates in conversions.
Interactive ads and data collection tools such as surveys and questionnaires are good means for businesses to access customers’ acceptance level of their products and helps them in making corrections or modifications to products and ad campaigns.
An Affordable Alternative
The prohibitive costs of advertising in the most popular traditional media outlets like the Tv and Newspapers portray such medium as elitist; shutting out small businesses with limited advertising financial outlay.
Online advertising has changed the game and created a level playing ground for all businesses with its many pocket-friendly advert packages that small businesses can take advantage of.
With as meager as $5, a Facebook advert campaign can be successfully done. The cost-effectiveness of online ads can be better appreciated by the fact that online ads are typically displayed 24 hours a day.
Collaborative efforts between sites in related niches can also procreate inter-website/blog banner and link swaps at no cost at all.
Pay-Per-Click advertising which mandates the advertiser to pay only for clicks on ads remains a fair scheme that also highlights the cost-effectiveness of online advertising.
A strong wind of change is currently blowing across the advertising landscape.
Many offline and online businesses are disembarking from the relatively ‘slow trains’ of traditional offline advertising, and boarding the ‘bullet trains’ of online advertising.
Businesses that want to survive in today’s fiercely competitive business environment must embrace online advertising.