Internet marketing (IM) is also known as digital marketing, web marketing, online marketing, or emarketing. As the name states, it is the advertising of products or services over the Internet. However, it also implies marketing through the wireless media and through e-mail. Electronic customer relationship management (ECRM) systems are also categorized under Internet marketing. IM can be creative, as well as, technical through its design, development, advertising, and sales over the Internet. This paper is a secondary research regarding how E-commerce gradually forms part of our daily lives. It concerns different aspect of advertising in terms of electronic commerce.
THE FAMOUS “INTERNET”
In the past ten years, the Internet population varied a lot ; an estimation of about 50 percent increase of the World Wide Web (WWW) per month and the numbers of websites double every 53 days . A 60 percent of large companies and 30 percent of midsize companies were estimated to make use of the Internet for marketing purposes by the year 2000 . In 2003, the first generation of internet users was fresh graduates - fast to get the concepts of online commerce and shopping. Major investments in China were also made by international E-commerce companies at that time; escrow systems were made for better trust in buyers and sellers. The hotel industry now face market challenges and business travellers demand more for the Web in terms of information and booking of hotels. The WWW is an electronic technology which is an effective means for marketing hotels and it also develops customer relationship in the long-run. The Internet allows firms to open a Web site in an electronic mall, have their products available to millions of potential customers and only in a short time period. GE, IBM, Ford, Kraft, and Proctor & Gamble were the first to register “domain names”.
USE OF INTERNET FOR MARKETING SUCCES
Because Internet grew in only five years and there are no barriers for time or location, marketing online has become the new era in E-commerce with petty variable cost per customer . Marketers use full color advertising that appeal similar to both -young and old- to attract people all over the world. The Internet is now considered as a much greater resource than traditional means of advertising: E-mail – use to transfer text and multimedia messages, Listservs – latest information sent on specific themes to groups/managers, Newsgroup – electronic conferencing leading to the development of ideas, as well as, worldwide networking opportunities, File transfer protocol (FTP) – high speed file transfer as a virtual fax, WWW – menu-driven access to host resources [2], etc. All industries have subject matter experts (SMEs) who are responsible to unify and apply knowledge from different vendors and sources to solve industry problems. To prepare a Web site merging SME knowledge with other reference sources is one of example of Internet model, to retain and attract customers. A well designed Web site can lead to an interesting, low cost means for sales promotion to worldwide customers. Marketers should also refer to the AIDA model-Attention, Interest, Desire and Action- to successfully attract customers by introducing the right advertising on Internet .
ADVANTAGES OF THE INTERNET
Most people worldwide can use the Web since it is affordable and easy to access. Internet is a fast and flexible means for marketing. Shopping on the Internet is convenient as there is no time restriction, it is comfortable since it is in a user friendly environment and there is also an instant satisfaction of ordering, paying and delivering. A one-to-one basis, as well as, a two way communication with customers through the Internet is possible. Enhancing brand image, creating awareness and providing customer service are more important than just selling the products or entertaining customers. With better technologies, companies can create a stronger brand image and thus increase sales. It is easier to get customers’ feedbacks and use them to improve. On the other side, it is easier for customers to receive a kind of acknowledgement; feeling that they did not waste their time. Nowadays, people live a busy life and shopping online is time consuming for them. The company also saves time since whenever a customer uses his/her credit card to purchase a product, through the Web Trak software from Aurum Software, the company can access customers’ details. Marketing communication includes expenditure on direct response marketing rather than the old standard mass communication; E-marketing is seen as a promotional as well as informational tool. E-communities or moderated group chat -where customers with similar interests can interact-are strategies to build relations through Internet. This new era of commerce
SUCCESSFUL WEBSITES
For Web sites to be a success, it should be informative, entertaining, challenging, and unique. The homepage should be short, clear and simple to avoid wasting the customer’s time. They should be understandable and easy to search information needed. Moreover, it must continuously be up-to-date for most recent information about the company; customers like to see modification in the website. Products/services available should be represented clearly by key words or images on the Web site.
Programs should be set up to find out which kind of customers are interested and what can keep customers coming back. This is the key of marketing strategy to know your customers, as well as, what they want. A company should create a Web site with unique SME knowledge and should not put Web links that are not completed. There are different marketing strategies for the Internet:
1) Targeting – This is different from the traditional segmentation because the customers come to you, they initiate contact, control information flow and control message content. Accessibility is primordial for customers. Market the Web sites through packaging or “click-through” from other companies’ Web sites. “Click-though” banner advertising is a sort of digital word-of-mouth which is becoming a stronger means of the Web.
2) Product Strategy – Brand recognition is made clear on the Internet but the number of purchase is not there yet. Sometimes the products are not available on the Web site and consumers hesitate before getting this particular product. To increase their confidentiality, recognized vendors should be mentioned on the Net. Authenticity is important for both sellers and products.
3) Pricing Strategy – In the long run, it will be good if firms can concentrate on offering products with the unique characteristics. Online shoppers will differentiate by the benefits and quality of the products/services. Otherwise, a low price strategy should rely on cost advantage and high volume to be able to compete.4) Distribution Strategy - There is a necessity of a direct-to-customer mechanism. The industry has to be the first providing unique services to always be ahead of competitors.
5) Promotional Strategy – This depends on the marketing research and consumer preferences. A “frequently asked questions” (FAQ) section should be provided in the Web site and high-level marketing officers should also be involved for a stronger marketing message for the company’s vision.
In fact, the FAQ, through Internet, can save over one million dollars by providing what customers want. It also reduces online catalogue processing costs and cycle time. Other than that, grouping and ranking the content of the Web site is effective so as to group consumer needs and to provide a good structure for navigation of the Web site according to a consumer.
LINK TO REALITY
Marketers should all know about information technology (IT) to be able to make better market analysis, decision making and to better control and monitor their field. Competition must now be based on speed instead of size of corporations for development because product life cycles are too short to increase fast enough. What is needed are high quality information about the product, service and corporate needs and fast and effective delivery process. Continuous information-based value to customers can lead to comparative advantage. Nowadays, traditional radio companies drive FM/AM and online listenership for a better growth by copying the best practices of new, growing internet companies. Since Internet is innovating in a really fast way, companies need to continuously change and marketers agree that by the time a new product comes into the market, it will already be obsolete. However, the Internet is not really safe since there are no modern online international payments systems resulting into frauds.
by Rashad Yazdanifard, Melissa Venpin, Wan Fadzilah Wan Yusoff , Mohammad Rabiul Islam
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