The term internet marketing also refers to i-marketing, internet advertising, web marketing, website marketing, online marketing, online advertising, and e-marketing. Internet Marketing is the marketing of products or services over the Internet.
The Internet has brought media to a global audience. The interactive nature of Internet Marketing in terms of providing instant responses and eliciting responses are the unique qualities 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.
Management of digital customer data and electronic customer relationship management (ECRM) systems are also often grouped together under Internet Marketing.
Internet Marketing ties together creative and technical aspects of the Internet including design, development, advertising and sales.
Internet Marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads, e-mail marketing, pay per click advertising, and Web 2.0 strategies.
Internet Marketing Business Models
Internet marketing is associated with several business models:
- E-Commerce: this is where goods are sold directly to consumers (B2C) or businesses (B2B)
- Lead-Based Websites: this is where value is generated by acquiring sales leads from a website
- Affiliate Marketing: this is where a product or service is developed by one entity and is sold by other active sellers for a share of the profit. The vast majority of affiliate marketing relationships come from e-commerce businesses that offer affiliate programs.
- Local Internet Marketing: this is where a small company utilizes the Internet to find and nurture relationships which are used for real-world advantage. Local Internet Marketing uses social mediaLocal Internet Marketing: this is where a small company utilizes the Internet to find and nurture relationships which are used for real-world advantage. Local Internet Marketing uses social media marketing, local directory listings and targeted online sales promotions.
One-to-one Approach of Internet Marketing
Internet Marketing often uses a one-to-one approach. Normally, the targeted user is browsing the Internet alone so the marketing messages are designed to reach them personally. This approach is used in search marketing where the advertisements are based on search engine keywords entered by the user.
Appeal to specific interests
Internet Marketing places an emphasis on marketing that appeals to a specific interest or behaviour rather than reaching out to broad groups of people. This is also known as targeted advertising. For example, a company selling kayaks would advertise on sites promoting kayaks and canoes with the full knowledge that the audience has a related interest in the product. Advertising on sites promoting bicycles would not be as effective since they will have less interest in kayaks and canoes.
Advantages of Internet Marketing
Internet Marketing is relatively inexpensive when compared to other types of marketing. 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 re
Internet Marketing is relatively inexpensive when compared to other types of marketing. 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 Marketing also has the advantage of measuring statistics easily and inexpensively. Nearly all aspects of an Internet Marketing campaign can be traced, measured and tested. The advertisers can use a variety of methods: pay per impression, pay per click, pay per play or pay per action. Therefore, marketers can determine which messages or offerings are more appealing to the audience. The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on ad advertisement, visit a website, and perform an action. Such measurement cannot be achieved through billboard advertising where an individual will at best be interested, then device to obtain more information at a later time.
Because exposure, response, and overall efficiency of Internet media is easier to track than traditional off-line media, Internet Marketing can offer a greater sense of accountability for advertisers. Marketers and their clients are becoming aware of the need to measure the collaborative effects of marketing.
Impact on Business
Online advertising techniques have dramatically been affected by technological advancements in the telecommunications industry. Today, most businesses and homes have high-speed Internet service so advertisers can use rich multimedia experiences to engage and connect their audience with their campaigns. Now is the time for small businesses to become involved in Internet Marketing to promote their businesses economically and effectively. Businesses that are willing and able to participate in the Internet world will have a better survival rate than their competitors who choose to not participate.
So what are you waiting for? The world of Internet Marketing is waiting for you!