Apr
13
2011

INTERNET MARKETING

INTERNET MARKETING

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First of all lets be familiar with the term Internet Marketing. Internet marketing is the mode of promoting products and services over the Internet is reffered to Internet marketing. Internet marketing is also termed as I-Marketing, Web-Marketing, Online-Marketing and E-marketing. According to one Internet marketing is “Achieving marketing objectives through applying digital technologies”. These digital technologies include Internet media such as web sites and e-mail. As internet has its presence globally the today’s business environment become more dependant upon the use of internet as its marketing media.

 

The following 3 purposes describes the need of internet in Internet Marketing.

 

To communicate company’s message about itself, about its products and service offerings.

To conduct researches ( preferences and needs) of existing and potential consumers.

To sell goods and services, and to advertise their products over the internet.

The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. Thats why much more companies are adopting internet as their marketing tool for promoting their products.

INTERNET MARKETING STRATEGIES

Developing a successful internet marketing strategy is an essential part of getting success online. In order to succeed in it we have to develop and implement a strategic plan that includes following essential ingredients.

Developing a Great Product: The basic thing one should keep in mind while developing a product is forming a product which must not be easily comparable to its competitors and also it fulfil the needs of the consumers. It means developing the product purely according to the needs of its potential consumers. The most important consideration while developing a product is Quality. Its the quality of the product which entails the satisfaction of the consumers, higher the customer satisfaion higher the buying.

 

Developing the Web Site: Once the product has been developed the next step is to make a web site on which it is to be promoted. The web site must be designed specifically which helps in selling the largest amount of product. Every word written on the web site must have specific reason and must be related to what is going to be sold. The selection of wrong word on the web site results in less attention of the consumers which results in lower sales of the product of the company.

 

Developing the Marketing Strategies: There must be two kinds of marketing startegies should be developed short term as well as long term. The short term marketing strategies must be used for more sale generation within the short time span, while long term marketing strategies helps in providing overall strength to the product for longer periods.

Learn the Ultimate Internet Marketing Strategy

When one is not getting what he wants from his business means the output of the business is not satisfactory to the owner then he has to review the Internet Marketing Strategies being used so as to find out where his company is lacking in getting the prior attention of the consumers. The following points must be taken care of while developing an internet marketing strategy.

 

Online Research: Through internet you can get the comprehensive report about where your company is lacking in delivering the right product in the market. This can help in idetification of other markets available to sell their products where competitors are not entered yet. Also it can help in identifying the competitors offerings and may help in developing the product accordingly.
 

Data Analysis: If one has performed the reasearch aspect thoroughly then it is for him to analyse the strengths and weaknesses of its competitors, and this data will help them to build a product as per the demands of the cusomers and also it can help him to explore new markets where he can enter with his products and get more profits out of it as no compitition is there. This helps in providing idea that such market need the product we have then one can promote its product there and can explore new opportunities there.
 

Strategy Development: when one completely knows about the target market and its competitors then one can create a suitable internet marketing strategy. One can think a little bit about what is the product and whom to sell it, this thing will be used in marketing the product in that particular region. The startegy must be made keeping in mind what we are offering to our existing and potential customers, if one succedded in it, it can result in more sales than expected.
 

Monitoring Performance: Once the company is ready with its internet marketing plan it has to be implemented in a desirable fashion so that the desired results should be attained. A proper monitoring checks should be used to get the information about the performance of the internet marketing strategy used so that necessary steps must be take at right time. Only with the help of close monitoring you can discover what works and what doesn’t.

BUSINESS MODELS

Internet marketing is associated with various business models some of them are described as follows:

One-to-one approach: In this kind of business model targeted user is typically browsing the Internet alone therefore the marketing messages can reach them personally. This approach is used in search marketing, where the advertisements are based on search engine keywords entered by the users. The user entered the keywords specific to his demands and cad can find the desire product accordingly.

Appeal to Specific Interests: In this kind of business model the marketers put their prior attention upon the behavioral and specific interest aspects of the consumers. Marketers typically segment their markets according to age group, gender, geography, and other general factors. The marketers must have good knowledge about all the above factors before they have to design their internet marketing programme of their product into the particular market. This aspect needs much attention as imn this case the target users are limited but not scattered over the large geographic areas.

E-Commerce: This kind of internet marketing is used where the goods and services are sold directly to consumers is called as B2C. When goods and services are sold to other business houses then it is called as B2B.

Advatages of Using Internet Marketing

When it is compared to the ratio of cost against the reach of the target audience with the other media avialable for promoting the products it is found that internet marketing is relatively less expensive and more effective. Companies can reach a wide audience for a small fraction of traditional advertising budgets. The nature of the medium allows consumers to research and purchase products and services at their own convenience. Therefore, businesses have the advantage of appealing to consumers in a medium that can bring results quickly.

Internet marketers also have the advantage of measuring statistics easily and inexpensively. Nearly all aspects of an Internet marketing campaign can be traced, measured, and tested. The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on an advertisement, visit a website, and perform a targeted action.

Limitations of using Internet Marketing

Internet marketing requires customers to use newer technologies rather than traditional media. Low-speed Internet connections are another barrier.From the buyer’s perspective, the inability of shoppers to touch, smell, taste or “try on” tangible goods before making an online purchase can be limiting.

Effects on Industries

With the increase use of internet most of the banks are providing a platform to their customers to perform all of their tasks over the internet. The customers are also on the same way are adopting such platforms as by using this their tasks will be done in less time and also they don’t have to visit the bank personally everytime.

With the aggressive use of internet in today’s scenario the major impact on Internet Advertising can be seen as in few years the popularity of using internet as its advertising tool has grown by much higher rates year and year after. The online business is growing at much faster speed and is generating profits accordingly.

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