The digital world is changing and the foot print of access to internet in Nigeria is closely catching up. Is there an online market following up in Nigeria? Many organizations have an answer to this question. In our own opinion the answer is muted. The important aspect is the viewpoint of each business. In this article, we would touch on many areas and provide some insight and allow the readers to make their views known.
Online marketing is sometimes used interchangeably with online advertising. In our own view online marketing is a process that allows businesses to promote their products and services through a marketing platform that is on the internet. This entails deployment of a business strategy to achieve the marketing mix. The marketing mix revolves around 4Ps – Price, Promotion, Place and Product/Service. If online marketing revolves around the 4Ps then what makes online marketing different from other marketing types?
Online Advertising and Marketing revenue growth
The growth of revenue for online marketing and online advertising agent has been on the increase. According to Internet advertising board http://www.iab.net/research/industry_data_and_landscape/adrevenuereport the internet advert revenues grew by 11.6% in the first quarter of this year, compared to the same period in 2013. The revenue growth crosses two boundaries: these are the consumer and business sectors. It suggest that more businesses are coming online and similar consumer behavior in shifting towards online.
Online marketing delivery platforms
The delivery makes the difference with other marketing means; the presence of the word online distinguishes it from others. These online platforms have never stopped to exist, rather they continue to grow by the hours – may be every second depending on your perspective. At the high level, the marketing platforms involve the use of digital delivery methods such as Email marketing, display adverting through online publisher networks, mobile marketing, web banner adverts, code based pop-up, interstitial adverts such as fan gates, text adverts, content marketing, search engine marketing , search engine optimization, sponsored posts, social media marketing platforms, Affiliate marketing and Adware
Marketing strategies as an instrument of growth
Now, it is time to get back to marketing principles. Companies exist so do their competitors, they all fight for a share of the market. In the end what distinguishes them is a made of a long list of multiple factors. These factors all center on micro and macro-economic s, consumer behaviors, internal and external forces. In all situations, companies need to evolve the offerings to adjust to these factors or the create market strategies to disrupt the external forces for their own survival. Strategies require planning and execution; the market segment should be thoroughly considered. Yes, this is what influences where, when and how the planning and execution is done. It also influences how to monitor performance and measure success of the marketing campaign.
Then what is growth of a business online? There multiple concepts to the word growth. Permit me to state that growth is not only about a growth in revenue or short term profit. It is a combination of multiple factors such as customer satisfaction, brand awareness, brand quality, brand equity, product relevance, advertised perception, continuity, sustainability, upselling and cross-selling opportunities. You would agree with me that these are all broad topics to consider. So I have decided the write-ups on this would start in my next articles. If you would like to be the first to know when it published then subscribe here.
Digital marketing training courses
Considering the wide body of knowledge, it could be a great idea to learn about digital marketing in a class or through courses. These courses could be online or instructor led courses. The key foundation to any marketing campaign is the strategy that drives it, the manner of execution and the ability to monitor the short, medium and long term objectives.