Internet Marketing: Meaning, Components and Other Details!
Internet marketing, also referred to as web marketing, online marketing, or e-marketing, is the marketing of products or services over the Internet. The Internet has brought media to global audience. The interactive nature of the Internet marketing in terms of providing instant responses and eliciting responses is the unique quality of the medium.
Internet marketing is sometimes considered to be broad in scope because it not only refers to marketing on the Internet but also includes marketing done via e-mail and wireless media. The management of digital customer data and electronic customer relationship management systems are also often grouped together under the Internet marketing.
Internet marketing ties together creative and technical aspects of the Internet, including design, development, advertising and sales.
Components of Internet Marketing:
Internet marketing evolves in a fast-phase manner. It is dynamic and requires every online business and marketers to keep updated with the changes in the system. altijdgeil There are two components of Internet marketing:
1. B-to-B (B2B):
It refers to business to business e-commerce, where business firms sell their products and services to other business firms using the Internet.
2. B-to-C (B2C):
It refers to business to consumers, where business firms sell their products and services to the consumers using the Internet.
Effectiveness of Internet Marketing:
The effectiveness of Internet marketing can be enhanced if the following points are considered:
1. Build trust, because web site serves as the platform for selling/displaying products and services.
2. Web site should be simple, but professional in approach.
3. The content of the web site should be relevant and quantitative.
4. Every possible means should be taken into account to drive Internet traffic towards the web site.
5. Being an Internet marketer, requires discipline and perseverance.
Ways to Conduct Internet Marketing:
In the era of modem world, the use of internet has connected the whole world together. Internet has been used not only for personal or professional purposes but also for marketing reasons. Businessmen find immense potential in the use of Internet for promotional purposes.
This has given boost to a marketing strategy called ‘Internet marketing’. It has revolutionized the fields of advertising and marketing to a larger extent. Marketers not only aim at producing high quality goods and services but also cost- effectively and successfully promoting them in the market.
It can be done through various means and strategies.
1. Firms can promote the products and services of the company by establishing an online presence. An entrepreneur can introduce the products of the organization by creating an official web site.
A web site gives an overview to the prospective customer about the corporation. This enables the firm to establish a global presence and reach global market.
2. E-mail marketing is another form of online promotion. In this kind of marketing, firms can reach the prospective customers directly through the means of an electronic mail. An advertiser can invite the customer for subscription of newsletters or alerts for special offers by the company. An electronic mail promotion generates sales and often repeats sales. It is an effective way to fetch new and retain present customers.
3. There are banner advertisements placed on the online classified directories. These advertisements are also placed on the web sites which promotes business similar to the advertiser’s business. These banners draw maximum traffic towards various web sites.
4. Firms can organize online forums for the purpose of inviting the most eager visitors to join, and air their views and opinions. This enables firms to keep check on their negative online reputation and promote favourable reputation.
Advantages of Internet Marketing:
1. Internet marketing is relatively inexpensive when compared with the ratio of cost against the reach of the target audience.
2. Companies can reach a wide audience for a small fraction of traditional advertising budgets.
3. The nature of the medium allows the consumers to research, and purchase products and services at their own convenience. Therefore, businesses have the advantage of appealing to the consumers in a medium that can bring results quickly.
4. The strategy and the overall effectiveness of the marketing campaigns depend on the business goals and the cost-volume-profit analysis.
5. Internet marketing can offer a greater sense of accountability for the advertisers.
6. Internet marketing refers to the online marketing, which is related to e-mail and wireless marketing methods.
Disadvantages of Internet Marketing:
1. Internet marketing sometimes appear to be confusing and at times considered as a kind of virus.
2. The more you know, the more you realize the need to learn more.
3. Typical business models lasts for two years, but Internet businesses sometimes lose appe