This article focuses on the important advantages and disadvantages of the various Online Marketing Techniques that are used by Marketers today.
1. Pay-per-Click Advertising
PPC involves paying for ads that appear on the Search Engine Result Pages, when the user types a search term or a keyword. The Advertisers are charged every time an ad is clicked by the user, hence the name pay-per-click.
Benefit – This technique is an amazing approach to attract traffic to a website, in a very short duration.
Drawback – Using PPC can turn out to be very expensive, and if you are inexperienced, there is a possibility that you will lose money rather than make profits.
2. Starting an Affiliate Program
By initiating an affiliate program, you successfully employ the services of the affiliate marketer to promote your product for you. For every sale that the marketer generates, you are supposed to pay him/her a commission.
Benefit- Starting an affiliate program is rather inexpensive, and you only pay the marketers when they drive traffic that gets converted into sales. You also enjoy the luxury of having thousands of affiliate markets promote your product, without you having to bear any cost.
Drawback- On the basis of the size of your company and the demand for your product, ensure that you setup a separate business function to support and manage your affiliates. Dishonest and Dodgy affiliate marketers could jeopardize the image of your company as well as your product.
3. Organic Search Engine Marketing
This approach entails optimizing your website to target certain keywords and hence getting involved in SEO techniques to escalate your rankings in search engines for your targeted keywords.
Benefit- Traffic generated from the organic results will not cost you a single penny and on the basis of your rankings, you will be able to earn an inactive income for a long time to come.
Drawback- It is not guaranteed that the top rankings will be in your bag, and you could pointlessly put in a huge amount of money in order to upsurge your rankings.
4. Email Marketing
This is the technique of communicating with your subscribers via email through messages.
Benefit- This method is fairly cheap, and if it is done in the correct manner, it has the potential of turning subscribers into buyers, and making buyers come again.
Drawback-Online Consumers are soon becoming insusceptible to such messages, as most of them turn out to be spam or hoax. There is no surety that the email messages or the newsletters that you send across will even be read by the subscriber.
5. Social Media Platforms
Social Networking websites such as Facebook are flourishing hubs for activity, where people of varied needs, cultures and ethnicities connect and interact. With such versatility and the sheer numbers of the traffic within these platforms, the possibilities of building a brand or selling products are endless.
Benefit- Your product or brand can amass popularity, virally on these platforms, which is quite equivalent to an online word of mouth type of advertising.
Drawback- Positive word-of-mouth advertising can also get converted into an online smear campaign, with could damage the reputation of your company, your products and your brand. The views obtained or the traffic generated from these platforms is not always targeted.