Online marketing generally has two simple interrelated aims. 1. Increase website traffic flow. 2. Increase conversion rate. If these things happen then online success if almost guaranteed. Increase Traffic Flow The booming industry of Search Engine Optimization ("SEO") is premised on the basis of increasing traffic flow to your website.
This is accomplished through either having a high search engine listing when relevant keywords are searched or through having a high bid on a Pay Per Click program ("PPC").
Pay Per Click Program Benefits:
1. Can be set up quickly
2. Can be expanded quickly.
3. A good way to bring immediate business to your site.
4. Can be adjusted depending upon your budget. You can either "Pause" the program or "Change" the amount you bid in order to vary the amount you're spending. This will impact number of hits that you receive.
5. There are many programs that you can sign up with including Overture, Google, Findwhat, Enhance, Lycos etc.
Disadvantages:
1. As more people use Pay Per Click, the cost per keyword is increasing. Hence it is becoming more expensive and this impacts your customer acquisition costs.
2. Can quickly become expense if you are not monitoring the various programs that you have signed up with.
3. It is important to get the correct ratios between cost per click, conversion rate, revenue per conversion and profit margin per sale.
Search Engine Optimization Benefits:
1. Once optimized, the website continues to bring in traffic without extensive on-going costs. That is, no incremental cost per visitor.
2. Once optimization is set up, it is the most cost effective means of generating new business.
Disadvantages:
1. May take a few months before you start seeing results.
2. If your volume is relatively low and you are to selling a handful of products per month at a low cost per product, it may not be worth the upfront investment.
While a comprehensive Pay Per Click program is a great way to bring immediate traffic to your site, in the long run it is often more cost effective to invest in "organic" search engine optimization. This involves taking steps to ensure that your site appears near the top of the search engine results. Increase Conversion Once you have brought people to your site it is crucial to convert them into clients or customers.
Factors that may influence your conversion of visitors to customers include:
1. Quality of the leads that you bring to your site. With search engine optimization and PPC programs it is possible to cast a wide net and bring many people to your site that may only have a slight interest in your product or service. This can be an expensive exercise in a PPC program. For example, if you are a real estate agent in Orange County, California you may receive less leads but they may be better prospects from people who search for "Orange County California Real Estate" rather than someone who is simply looking for "Real Estate". Hence there is a trade off between numbers of visitor's versus quality of visitors. It is important in a PPC program to find the right balance.
2. Ease of navigation of your website: A clear well designed website where customers can easily find the product or service they are looking for is important.
3. Purpose of your website - Is it to convert someone to buy online right then, or is the purpose for someone to contact you to discuss your services? Your site needs to be customized to your specific aims for the site.
4. There may be benefit in providing ways for you to stay in contact with your web site visitors. Offering an email sign up option which provides a discount coupon is often a good way to achieve this. Conclusion When considering how to spend your marketing dollars it is worthwhile thinking about these various issues. It is valuable to have clear online marketing aims and to structure a clear step by step process for achieving them.
Good luck with your marketing efforts. Matthew Hennessy