[Hot] The Value of Online Marketing: Five Facts
The goal of online marketing is simply stated: a prominent position in search results, paid or organic, which translates to increased conversions (sales). The elusive nature of this goal guarantees the viability of online firms who specialize in diverse forms of marketing--from SEO to content marketing.
However, of course, the same elusive nature often translates to business failure. Does this mean entrepreneurs should avoid online business? To do so, of course, is to avoid modern business itself--to ditch the role of the entrepreneur. To flourish in business today, you must flourish online.
Yes, more than 50% of all businesses fail within the first four years of operation. Another oft-quoted statistic, repeated by the likes of Neil Patel without any citation whatsoever (just links to other citation-less articles), places the failure rate at 90%. No matter the actual number, Patel's point rings true:
"Very optimistic entrepreneur[s] need a dose of reality now and then. Cold statistics like these are not intended to discourage entrepreneurs, but to encourage them to work smarter and harder."
The reasons for failure vary, from sheer incompetence to inexperience, yet most successful small businesses understand: Beyond mastering the basics of competence and management, a small business must market its product online. So why do so many businesses fail at this basic level?
We've written about the online marketing economy several times before--and more specifically, the SEO economy, about how, in our experience, "a majority of online businesses that are looking for new customers, profits, and success, are not performing any online marketing whatsoever."
Read: "Are You a Part of the $65 Billion SEO Economy? Should You Be?"
The problem for most business owners is the presumed cost of online marketing--though so often the cost of inaction is much, much higher: essentially failure. Often, however, failure is the result of one decision-maker's inertia.
So how do you make a case for SEO or online marketing? How do you convince a boss to act? Online marketing firms often present case studies--prior success stories or examples of ROI (which is often hard to quantify).
Employees who believe in online marketing, though, may need to rely on other, more visceral means of persuasion. How do you respond to typical objections: I don't know where to start? Or: We've got a website! Isn't that enough? Or: Is everyone really doing it? Or: I'm a small local business--I don't need online marketing. Or: What's wrong with traditional marketing?
Today's post provides the means for this persuasion. Just look at the numbers.
Google Fields 3.5 Billion Searches Each Day
Google is, by far, the world's most popular search engine--and its share of search traffic, as Rand Fishkin recently noted, is relatively stable: "Overall, Google receives 50X+ more searches than Amazon."
One typical objection to online marketing, "I don't know where to start," then is not really a valid objection at all. The answer is obvious: Start with Google. And you can start for free: optimize with Google My Business.
The Top Five Spots on the SERP Account for 65% of all Clicks
The graph below highlights a well know fact: the top spots on the search engine results page attract most of the traffic.
The objection, "we've got a website, isn't that enough?" is not viable--without online marketing like SEO, you will likely not appear in the top five results, let alone the first page, which accounts for nearly 100% of all results.
Global Spending on Online Marketing is $100 Billion
"Spending on digital marketing grew by 44 percent last year in the United States and Britain to $52 billion," Reuters reports, "estimating that global outlays on such tactics are approaching $100 billion."
Now, this doesn't prove that "everyone" is marketing online--we'd argue it's just the successful companies. But it certainly does prove: online marketing is not a niche industry; it's a global phenomena.
Over 90% of Mobile Searches Lead to Purchases
Two years ago, Forbes reported on a study that cited some convincing evidence for the importance of mobile and local search:
"Besides the fact that 92% of people who researched on their phone bought something related within a day...76% of people who search for something nearby visit a related business within a day - and 28% of those searches end in a purchase."
Online marketing is crucial for local businesses. If you're not doing it, your top competitors will leave you in the dust.
Content Marketing Costs 62% Less than Traditional Marketing and Generates 3 Times as Many Leads
There is nothing wrong with traditional marketing. Online marketing, though is often way more effective--and often less expensive.
Online Marketing: Your Engine to Online Profits
To navigate the complex challenges of online marketing, you might need to hire an online marketing firm like Stepman's SEO.
Do not let the changing search engine algorithms compromise your sales. You need the astute wisdom of a professional who can help you answer the question honestly: What online marketing strategies are best for your business?
Contact Stepman's SEO today to learn how you can improve your website's performance: 215-900-9398.
However, of course, the same elusive nature often translates to business failure. Does this mean entrepreneurs should avoid online business? To do so, of course, is to avoid modern business itself--to ditch the role of the entrepreneur. To flourish in business today, you must flourish online.
Yes, more than 50% of all businesses fail within the first four years of operation. Another oft-quoted statistic, repeated by the likes of Neil Patel without any citation whatsoever (just links to other citation-less articles), places the failure rate at 90%. No matter the actual number, Patel's point rings true:
"Very optimistic entrepreneur[s] need a dose of reality now and then. Cold statistics like these are not intended to discourage entrepreneurs, but to encourage them to work smarter and harder."
The reasons for failure vary, from sheer incompetence to inexperience, yet most successful small businesses understand: Beyond mastering the basics of competence and management, a small business must market its product online. So why do so many businesses fail at this basic level?
We've written about the online marketing economy several times before--and more specifically, the SEO economy, about how, in our experience, "a majority of online businesses that are looking for new customers, profits, and success, are not performing any online marketing whatsoever."
Read: "Are You a Part of the $65 Billion SEO Economy? Should You Be?"
The problem for most business owners is the presumed cost of online marketing--though so often the cost of inaction is much, much higher: essentially failure. Often, however, failure is the result of one decision-maker's inertia.
So how do you make a case for SEO or online marketing? How do you convince a boss to act? Online marketing firms often present case studies--prior success stories or examples of ROI (which is often hard to quantify).
Employees who believe in online marketing, though, may need to rely on other, more visceral means of persuasion. How do you respond to typical objections: I don't know where to start? Or: We've got a website! Isn't that enough? Or: Is everyone really doing it? Or: I'm a small local business--I don't need online marketing. Or: What's wrong with traditional marketing?
Today's post provides the means for this persuasion. Just look at the numbers.
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| The power to grow your business is at your fingertips--but will you actually act? (Photo Source) |
Google Fields 3.5 Billion Searches Each Day
Google is, by far, the world's most popular search engine--and its share of search traffic, as Rand Fishkin recently noted, is relatively stable: "Overall, Google receives 50X+ more searches than Amazon."
One typical objection to online marketing, "I don't know where to start," then is not really a valid objection at all. The answer is obvious: Start with Google. And you can start for free: optimize with Google My Business.
The Top Five Spots on the SERP Account for 65% of all Clicks
The graph below highlights a well know fact: the top spots on the search engine results page attract most of the traffic.
The objection, "we've got a website, isn't that enough?" is not viable--without online marketing like SEO, you will likely not appear in the top five results, let alone the first page, which accounts for nearly 100% of all results.
 |
| The top results receive the clicks (Source) |
Global Spending on Online Marketing is $100 Billion
"Spending on digital marketing grew by 44 percent last year in the United States and Britain to $52 billion," Reuters reports, "estimating that global outlays on such tactics are approaching $100 billion."
Now, this doesn't prove that "everyone" is marketing online--we'd argue it's just the successful companies. But it certainly does prove: online marketing is not a niche industry; it's a global phenomena.
Over 90% of Mobile Searches Lead to Purchases
Two years ago, Forbes reported on a study that cited some convincing evidence for the importance of mobile and local search:
"Besides the fact that 92% of people who researched on their phone bought something related within a day...76% of people who search for something nearby visit a related business within a day - and 28% of those searches end in a purchase."
Online marketing is crucial for local businesses. If you're not doing it, your top competitors will leave you in the dust.
Content Marketing Costs 62% Less than Traditional Marketing and Generates 3 Times as Many Leads
There is nothing wrong with traditional marketing. Online marketing, though is often way more effective--and often less expensive.
Online Marketing: Your Engine to Online Profits
To navigate the complex challenges of online marketing, you might need to hire an online marketing firm like Stepman's SEO.
Do not let the changing search engine algorithms compromise your sales. You need the astute wisdom of a professional who can help you answer the question honestly: What online marketing strategies are best for your business?
Contact Stepman's SEO today to learn how you can improve your website's performance: 215-900-9398.