Even before the internet was discovered, advertisements and product branding did take place. Sources like TV, newspapers, magazines, and pamphlets were used by companies with a single goal to provide a sense of knowledge about their product to a large scale of people, in the fastest time and the cheapest way possible.
With the introduction of the internet in 1990, within that decade that is 1990 to 2000 many companies found out the benefits of using the internet as a source marketing for their products and services. Soon did people get to know about all the new companies that existed in the digital marketing in Singapore and other countries through the internet.
Many companies invested in that internet market era, and proved to have a successful run in the field of SEO marketing, soon many unknown companies became famous and increased their stock rates in a matter of time, but at 2001 the stock market collapsed and many companies had a great loss. Then for a while many companies said a big no to digital marketing and preferred the old way of marketing.
Although that internet marketing was not practiced by anyone after the stock crash many consumers and companies had their eye on the online trends and services available. After a time period of E-commerce website and search, advertising was the new online marketing enhancement, which wildly helps companies to target their consumers and also know about all the likes, dislikes, and interests of a community of a specific location. Which eventually made things much easier and beneficial for the modern companies.
Nowadays, each and every house has their own internet connection there are more people practicing digital marketing in Singapore, which only states that social media marketing has provided a better source of advertising in this digital era.
In today’s date, the internet is not a stranger to anyone. Most of all companies use the internet in many ways and in many areas like marketing, controlling, communication, transactions and much more. Which means that companies have transformed internet into that one “All in all” tool to run an organization.
Do Companies Really Use the Internet as a Marketing Tool?
This question is similar to “ do you need to breathe, to stay alive?” of course companies use the Internet as a marketing tool, they indeed use it 24/7, in fact, it has become one of the most important sources of marketing for a company these days.
Micro or Macro companies both have been using the internet for the past 2 decades for marketing. All the large-scale companies who do digital marketing try their level best to not only spread the reach of their product but also to create a brand loyalty and reputation among their consumers.
While the small-scale organization is given an equal platform to compete with the MNC’s with the help of Search Engine Optimization SEO, Pay Per Click, social media marketing and many other digital marketing tools.
Unlike online, traditional marketing is said to be very old school, more costly and takes a lot of time. Marketing has never been easy, let it be then or now, marketing has always been hard and a delicate process, it’s not just having a tagline that says “Buy this product”.
The 4 P’s of Marketing
Traditional marketing often followed the Marketing mix which existed of the 4 main P’s which are,
- Price- Price is always a factor to consider, if you price your product high there are chances you won’t have any sale and if you price it low, probably you will not have any profit. A price of a product should be idolized in a way according to its production cost and demand.
- Product- Your product can be of any kind, according to your wish but if it isn’t useful for the consumer why do you think would they buy it? Consider producing a product that can provide you with a better sale, it should be useful to your customers.
- Promotion- You can’t let your product launch unless you let people know about your product, conducting promotions for your product will only let people know more about it, which will help you with more customers.
- Place- You won’t wish to launch an umbrella factory in the Sahara or have a chocolate factory in an area where all are diabetic. So make sure you launch your product according to the place and the situation so that your company has a minimum demand always for the product.
- Solution- If your product has nothing to do with the problem I am facing why will I buy your product? So make sure you provide what your customers wish. So first search the problems that your clients are facing, like in a specific area if there are no vegetables, having a vegetable shop in such an area will provide you with more profit.
- Information- Tell me, why will I buy a product I don’t know about? Only if I know a product and understand its pros, it can only tend me to buy it later. So make sure you inform your clients what you are selling before launching your product. If your clients know about your product that will provide you with true natural buyers.
- Value- Does your customer know about the worth of your product or service? Price of the product must be clarified so that your customer can know how much to carry before walking in to purchase your product. While marketing with the product make sure you don’t tamper with the price, inform the correct price to all your employees, to maintain a proper consumer satisfaction.
- Access- Providing information about where your product will be available can provide you with a better chance to increase your sales in the market. Once your consumer knows where to go they would make sure to visit the place at least once, if they don’t know about the location they will never purchase, which will soon become a hard task.
- Social Media Marketing
- Content Marketing
Content marketing is not that much to be seen, as it more like an art to conveying valuable information to clients with online blogs, reviews, article, stories, etc. These content information provide your customer with an idea about “why to buy your product?” some blogs and articles are considered to be so effective that they can influence consumers to obtain your products and services.
- Search Engine Optimization (SEO)
Mainly considered to provide websites or contents with an option to be at the top of Google search engines, so that they can be found much easier compared to other websites, some keywords are added, which intend to increase the value of the blog, once the value of the blog is considered by googling your website rating will increase, which will provide you with a better chance to be noticed.
- Pay Per Click (PPC)
Pay per click is another advertising source of Google that provides you with a better chance to be noticed in the search engine, once you choose PPC your website would be displayed on the top and you will only have to pay for the number of times the people clicked on your advertisement, which is not a loss at all. As only those interested to obtain your service will click on your advertisement, so make sure you have an appealing offer on your website or advertisements to attract and influence your buyer.
- Affiliate Marketing
Used by bloggers and those large scale companies who sell others product on their behalf, use affiliate marketing. Its just like PPC but it turns the traffic towards your website or page, turning a busy traffic towards you can usually be expensive compared to other online marketing ways, but it is one of the best digital marketing forms as you will not have to worry about advertising as there will be traffic converted to your website automatically.
- Email Marketing
One of the most used and early sources of digital marketing, Email marketing was considered to the best way to reach a large source of people in one strike. Usually known as spam these emails can provide you with a million audience. Many companies and firms adapt email marketing and send emails about their advertisements to many people.
- Banner Ads
Banner ads are those advertisements that you can give to websites those have a heavy traffic on a daily basis. A square box picture with details about you and your product would be displayed in various other websites.
These ads pop up as a new page, an advertisement that opens in a new tab right next to the one you visit. These advertisements provide you to display your product and service in a matter quality way, compared to other advertising paths.
In this modern era, digital marketing has become the easiest way to display your product to a large number of audiences in a much less time.
New Marketing Strategies
Just like the traditional marketing’s four P’s which was an old traditional method the latest method of marketing strategy is SIVA.
SIVA- Solution, Access, Information and Value
When marketing went digital, advertising a large audience within a day became easy. While tradition marketing took place only once in a month for many companies because the amount of time and money traditional marketing paths took were more and many companies couldn’t afford to invest in marketing.
Now with the introduction of online marketing, small and large-scale companies practice marketing every day. Social media marketing helps companies to have a safer and wider way of marketing, their product reaches to every single house only with a single click.
Types of Digital Marketing
There are many types of internet marketing like the following:-
More than half of the world is on social media, which assures you with a large number of audiences and if you are capable to address or advertise such a large audience, that will clearly result in a large number of sales for you.
Many young entrepreneurs have started their business through social media marketing, as it is easy to create contacts on social media, which results in you spreading a network more wider and build contacts in an easier way.