Branding is extremely important for any business, be it an SME, an entrepreneurial venture or a big corporation. Big corporations and multinationals are well aware of the importance of branding and have created and cultivated strong brands worth fortunes over the decades of their operations. It is high time that online and small business also learn the value of branding, start implementing it with meticulous care in their strategy to reap the benefits of the concept.
With the advent of online businesses and easy loans available for SMEs and entrepreneurial firms, there are a plethora of organizations out there, each trying their best to provide the best advantage to their customers. However, for customers, what matters the most is the kind of promise that the organization is making to them, and if the promise will be upheld time and again. Therefore, in totality, branding is the sum total of the perceptions that the customers have about the organizational offering. This organizational offering entails not just the product itself, but also the services, the logo and packaging, the reputational management and the kind of marketing efforts entailed to bring the product to the customers.
An online business has a lot of marketing tools at their disposal and it needs to find one which best compliments its marketing strategy. Online businesses can make use of social media marketing, effective SEO, email marketing, and digital marketing platforms to reach their customers. However, it is important that the business realize which platform works best for them and where their customers are much more likely to engage with them and make purchase decisions. Many online businesses undermine email marketing and deem it as an older and less efficient marketing method as compared to social media marketing and/or SEO. However, recent researches proof that email marketing is one of the most efficient and cost effective marketing tools for online businesses.
According to a research by McKinsey, email marketing is 40 times more effective than social media marketing in helping the business acquire and retain more customers. Email marketing makes the online business seem much more professional and credible and makes it easier for the client to trust the firm they are dealing with. Moreover, it is much easier for organizational offering to get lost in the social media’s news feed rather than in an inbox. By incorporating newsletters in email marketing, the customers do not only stay abreast of the organizational offerings but are also able to forge a personal connection with the online business by staying abreast of their internal environment as well.
Online businesses need online marketing strategies and platforms to market their presence and offerings to the public effectively. No matter how good the product or service is, if it is not marketed or communicated properly, it won’t be able to prompt the customers to make a purchase. More and more online businesses lately have started using Adwords to market their offerings effectively. Adwords is an advertising network which is powered by Google and helps the businesses in advertising their products and services effectively on Google search results and on its affiliate websites as well. The reason more and more online retailers are now choosing to use Adwords is because it provides fast results, and ensures that the advertised content is immediately available on Google search engines.
Adwords is easy to use and online retailers and businesses can use it effectively to market their offerings. The way Adwords works is that the online business informs Google about what offerings they want to advertise on the search results as per the key words used by the customers. Then, once the advertisement is up, every time a customer uses and clicks on the advertisement, Google charges accordingly per click. However, Google charges different amounts per click and the charges vary according to the amount bade initially and according to the amount that competitors are willing to bid for the same slot and keyword.