The Shift to Internet Marketing Continues—But Consider a Blended Marketing Strategy in 2016
Companies of all sizes, industries, and regions continue to aggressively refocus their marketing budgets from traditional tools and techniques to Internet Marketing–and with good reason. As a technology marketing executive for many years, I constantly struggled with two challenges:
- How to control, and even reduce our marketing spend—especially during the “dot.com bust”, but also during the past few years of overall challenging economic conditions, and
- How to justify our marketing spend when it was virtually impossible to measure the results and quantify the ROI.
Internet Marketing has Advantages
Internet Marketing addresses both of these issues. Costs are significantly less than traditional marketing–as much as one quarter to one eighth the cost, depending on a variety of factors. And with the ability to track virtually every aspect of activity and calculate the ROI of marketing initiatives using web analytics, marketing spend is no longer a mystery. Not only can you capture traditional metrics such as Cost Per Lead and Customer Acquisition Cost, you now have an unparalleled opportunity to measure every aspect of visitor behavior and how they interact with your business.
There are significant benefits in cost and transparency offered by Internet Marketing not available with traditional marketing. That said, when developing your marketing strategies and plans for 2010, business should consider whether it is appropriate to maintain some combination of both offline and online marketing programs. Take the best from both worlds to create a go-to-market plan that enables you to reach your market with the right message and the right offer to create build awareness, increase qualified prospects, and convert them into lifelong customers.