An online store is one of the most popular things that many people want to have for promoting any of their products or services. It will help you reach your customers and display some of your products or services in your store. It is an affordable way for you who want to build a successful business.
However, you need to prepare everything and look at all details from this online store, for example, marketing cost, marketing strategy, inventory control, and many other things in your store. Controlling all of these details will help you manage your finance and your business easily. You can also learn how you can boost your sales and profit in your store by doing the right marketing strategy for your online store.
Digital Marketing for Online Store
Digital marketing is a powerful strategy that you can use for promoting your store to your customers. This strategy is chosen because it can bring a lot of benefits for you as an online store owner. Here are some benefits of using digital marketing for your store.
- Affordable way to reach your customers. This is the most important benefit that is offered by digital marketing. You don’t have to spend a lot of money for getting benefits from this digital marketing. You will be amazed by the affordable digital marketing cost for your store.
- Easy to track and analyze. Every strategy in your marketing effort needs to be monitored and analyzed. If you are using a digital marketing strategy, you can choose the best strategy that will be suitable for your customers. For example, when you are using the Facebook marketing strategy, you can find out which posts are popular among your customers by looking at the statistics on your dashboard.
- Reach your customers fast. If you want to get access to your customers fast, you may want to choose the best digital marketing methods for your needs. Most digital marketing methods work faster than the other traditional marketing methods that are available today. Most customers are going to spend their time in front of their laptops or mobile phones. It will be a good opportunity for you to reach these potential customers every day.
Marketing Costs for Online Store
How much does social media marketing cost in your business? As an online store owner or business owner, you need to know. There are some marketing costs that you are going to spend, especially when you want to get maximum benefits from your online store. There are some details that you need to take a look at, especially when you want to calculate the total costs for your online store.
Some factors that will determine the total amount of marketing costs for your online store include salaries, advertising costs, any costs associated with the salesperson’s salaries, production costs, distribution costs, etc. All of these costs can be classified as the fixed costs for your marketing department in your online store.
You also need to know the variable costs for doing your marketing strategies, for example, sales commission paid for every good sold, sales bonus, and some other costs that are related to the production process.
If you are promoting your online store with a digital marketing strategy, you are going to calculate the total social media marketing cost and email marketing cost for your online store. Both costs play an important role in your online store as your business.
a. Social Media Cost
This cost will occur when you promote any of your products or services on social media channels, such as Facebook, YouTube, Instagram, etc. Some costs will be calculated based on the total clicks or engagement that you get from your subscribers. You can determine how much costs you are going to spend on every social media channel you want to use.
For example, the Facebook marketing cost will be around $0.5 - $5 per click depending on your niche or target market. Another cost that you need to spend on using the social media marketing campaign is the influencer marketing cost. This cost will allow you to work with some popular influencers. They will promote your products or services to their followers. Different social media channels will have different marketing costs for all users. You can compare some available social media channels, so you can choose the best one for your needs.
b. Email Marketing Cost
This is another cost that you need to consider when you want to promote your online store on the Internet. Different email marketing platforms will have different plans with different prices. You can compare some available platforms before you decide to choose the best platform for your needs.
The average email marketing service will cost around $15 to $500 per month depending on your needs and the total subscribers you have in your online store. You also need to calculate the total subscribers that you are going to reach. The more followers you want to reach, the more expensive you will spend on your email marketing cost.
c. SEO Cost
If you are going to use SEO (search engine optimization) for promoting your online store, you can calculate this cost. Some SEO costs may include hosting fee, domain fee, SEO expert hiring fee, etc. All of these costs need to be included in your marketing cost in your online store. SEO is believed to be one of the most efficient marketing strategies that you can use because it will provide a long-lasting result for your online store.
It is recommended for you to calculate the total costs that you are going to spend on your marketing effort. The total marketing budget will be around 5 - 12% of your total revenue. B2C companies tend to spend more marketing costs than B2B companies.
Conclusion
Most money that you are going to spend on your digital marketing will be spent on the expenses of the traditional advertising channels. Your investment in the marketing strategy should bring benefits for you and your store. You need to achieve your sales goals by doing some of these advertising methods for growing your store.
