Two responses of about 200 words each need to be written for 2 discussion.
Topic: In your view, what is the most effective way of advertising for your business online? Cost effectiveness should be kept in mind as well.
Discussion 1: Social media advertising would be the first way that I would advertise my business and product online. When the social media platforms first came out, they were not for shopping at all. However, today as they grew and transformed, users can buy and search for the products that they are planning to buy. Moreover, the most of the social media platforms are free for end-users and businesses. Media and content that you can create, share, communicate with your audience vary from photo, video to interactive media such as game, surveys, flash media, GIFs, etc. On the other side of the coin, social media platforms offer tools to target more effectively and more importantly statical data to analyze results. The abilities of online advertising help companies to reduce the cost of targeting. Instead of advertising on TV to masses, online advertising enables them to show ads to people at the individual level and tracking ability provides more accurate results to observe the viewers behavior towards to ads itself and the product. Social media advertising also has influencer advertising feature which seems to be very effective for business. Instead of spending all advertising budget to one influencer, you can pay and advertise with some micro influencer offering lower ads opportunities to their 1K-10k followers which might be more effective.
Discussion 2: Taking cost effectiveness into consideration, I think the emphasis for business owners should be on how to improve the price performance ratio of online marketing approaches, especially for small and medium-sized enterprises.
1. Search engine marketing: Search engine optimization (free ranking) is one of the best choice for small business to promote products to the top pages by analyzing users’ habits. Comparing to competitive advertising (paid ranking) which costs a higher price to compete keyword ranking, business owners can optimize their content to stay ahead of their competitors in the natural rankings by SEO.
2. Online blog advertising: First of all, business owners can release high-quality soft content on some media platforms (such as Facebook, Twitter), to build popularity and establish brand image with the help of the platform’s authority. Then, companies can promote their product through bloggers and influencers, which rapidly helps businesses to gain more potential consumers by twittering and sharing within the communities.
3. Customer reviews: It is also a good way to quickly establish close contact with customers and improve products and services by getting feedback through questionnaires, online surveys, etc..
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