Marketing has changed significantly in recent years. Now it is possible for a small business in a small town to reach customers across the world. And to do so for pennies.
It’s not that long since global reach was the preserve of multi-national companies. In this blog we intend to look at what the changes mean and how to take advantage of it.
In this first entry I want to outline what it means…
If you run a small business your potential was always limited. Sure some could become big companies but a shoe store was limited to its local catchment. Now their market is the world. The current population of Earth is nearly 8 Billion About 5 Billion of those are on the internet.
All of those are your catchment.
Now that doesn’t mean all are your potential customers. Only a small portion will want your style of shoe and some will be loyal to competitors. There are many reasosn they won’t all want your shoes. But consider this;
In a town of 10,000 you might expect that 40% are your potential customers; That’s 4,000 people. But in a global market of 5 Billion then if only 0.1% are your potential customers you have 5 million people to sell to.
All you have to do is let them now you exist.
What is Internet Marketing?
Internet Marketing is simply reaching your potential audience on the internet. We’ll go into details in later posts but for now simply think that it takes two forms; Brand and Direct.
Brand Advertising is building a relationship with your potential customers when they are not necessarily looking to buy something. Instead you’re just letting them know you’re there and what you stand for. Then hopefully when they do go to buy they are both aware of you and have a good opinion of you.
Direct Marketing is reaching a potential customer at the time they are looking to buy. At the point they are researching the product you appear in front of them, tell them about yourself, and persuade them to select you.
Both types of advertising are legitimate and both are powerful. And both have found a place in the internet.
At the risk of simplifying things it can be said that Brand Advertising is dominated by Facebook while Direct is the province of Google Now of course both companies have the ability to offer you both options. But the broad split is valid.
Both types of advertising can also be split into Paid or Free. And both Facebook and Google can provide you with both. Again we will discuss this in the future but consider it simply from two examples; Business build pages on Facebook, collect followers and post updates. These can appear to the followers for free. The problem is that Facebook limits the number of followers who can actually see the post (it’s currently about 4% of followers who see a post). In Google’s case they try to put the most valid and relevant results in front of you when you search. If you cna be the most relevant result to a search then Google will put you at the top of the results without you having to pay them. This can bring a lot of customers.
This has been a brief post. We will discuss this further in other posts.