Online Marketing Is A Vital Cog In Today's World
SGMA Webinar Reveals Mobile Devices Are the Marketing Outlet of the Future
SILVER SPRING, MD – April 26, 2012 – Utilizing online marketing to promote, publicize, and advertise your products and services is “the most powerful form of visibility” in today’s marketplace. Two experts in the area of online marketing believe that websites are virtual storefronts and that nearly every customer comes to know your business online before actually stepping inside any given business’s front door. That’s why an electronic presence is an absolute must for any company, firm, association or business in today’s world.
During an hour-long webinar this afternoon which was hosted by SGMA, Buzz Truitt (Director – Business Development; Netsertive) and Samir Janveja (Strategic Partner Manager; Google, Inc.) offered their thoughts on the topic of “Online Marketing 201: Master 3 Levers To Drive Sales in Your Market and Reduce Advertising Costs.”
“This webinar is a cost-effective way in which SGMA is able to attract outside experts who can deliver quality information to help our members maximize the potential of their website presence,” said Jonathan Michaels, host of SGMA’s webinar and membership manager for SGMA. “Buzz and Samir did an excellent job in providing attendees, particularly small businesses, with a list of ideas which can be used to help use their websites to generate more revenue.”
During Truitt’s remarks, he noted that in recent years, money spent by advertisers on traditional advertising and time spent by consumers reviewing traditional ads (those that appear in print, on television, and on the radio) were going down while money spent by advertisers paying attention to online advertising and time spent by consumers reading those online ads was on the upswing. He also emphasized the decreasing interest and effectiveness in advertising through the Yellow Pages, post cards, and direct mail.
And, Truitt noted that Comscore wrote that “locally targeted (virtual) ads present a more efficient allocation of ad dollars.” According to Jupiter Research, roughly 90% of the electronic clicks are connected to services which appear on the first page of searches.
During a poll conducted by attendees on the webinar, 100% of the respondents noted that they all do use some form of online advertising and marketing.
During Janveja’s presentation, he revealed some eye-opening facts about online marketing such as:
- One in three mobile searches are for a local business or service;
- 61% of the users (following a search) actually call the business and 59% of the users actually visit the business;
- Locally targeted ads represent a more efficient allocation of advertising money;
- 60% of local searches result in purchases;
- Consumers spend 28% of their time online right now.
In the next few years, Janveja expects mobile searches to exceed the number of desktop computer searches. He also said that online marketing initiatives which are geared specifically as mobile campaigns have an 11.5% higher rate of success over a general online marketing campaign.
According to Janveja, the key buzzword in online marketing is ‘SOV,’ which stands for ‘share of advertising voice.’ In layman’s terms, the ‘SOV’ is the approximate percentage of the in-market impressions that your campaigns are reaching, based on the active ad categories in your account, the media spend, and the targeted geography. In a nutshell, any online marketing campaign must balance geography with a budget and the expected results. The wider the geographic area you target, the more money you will need to spend to generate the sales you expect. If the sales results are lackluster, you must reduce the geographic reach of the campaign and/or spend more money. If your company has a high percentage point ‘SOV,’ that’s good. The ideal ‘SOV’ percentage is 60% to 80%.
If you are an SGMA member and you missed the webinar, you can review the webinar and its slide presentation by clicking here.
The Sporting Goods Manufacturers Association (SGMA), the #1 source for sport and fitness research, is the leading global trade association of manufacturers, retailers, and marketers in the sports products industry. SGMA helps lead the sports and fitness industries by fostering participation through research, thought leadership, product promotion, and public policy. More information about SGMA membership, SGMA Research, and SGMA's National Health Through Fitness Day can be found at www.SGMA.com.