How does Internet Marketing relate to e-Marketing, e-commerce and e-business?
What are the key benefits of Internet Marketing?
What differences does the Internet Introduce in relation to existing marketing communications models?
To conduct Internet Marketing, we need to build and create databases in which they could be used to support Internet Marketing activities. These Databases could be:
Agents & Brokers Databases
Introducing the Scope of Internet Marketing
"Achieving marketing objectives through applying digital technologies"
Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.
A More in-depth definition:
Customer-Centric Digital Marketing Involves:
Digital Technologies which form online channels… (Web, E-mail, Databases, mobile, IDTV)
Contribute to marketing activities aimed at achieving profitable acquisition and retention of customers (within a multi-channel buying process and customer lifecycle)
Improving customer knowledge (or their profiles, behavior, value and loyalty drivers), then delivering integrated targeted communications and online service that match their individual needs)
How does the Internet contribute to marketing?
How the Internet achieves marketing goals?
Clue: (Web and E-mail)
How the Internet Supports Marketing
Identifying: the Internet can used for marketing research to find out customers' needs and wants.
Anticipating: the Internet provides an additional channel by which customers can access information and make purchase-evaluating this demand is key to governing resource allocation to e-marketing.
Satisfying: A key success factor in e-marketing customer satisfaction through the electronic channel raises issues such as:
Is the site easy to use?
Does it perform adequately?
What is the standard of associated customer service?
Are physical products dispatched?
E-Business and E-Commerce
- You are attending an interview for a job in an E-Commerce department. You are asked to:
Explain the relationship between e-commerce and e-business?
E-business Vs. E-Commerce
E-commerce involves money exchange in the transactions.
E-Business, as it is broader, all aspects in business are included like marketing, product design, supply management, etc.
E-business: Is the broadest concept, refers to how technology can benefit all internal processes & external exchanges & Interactions, supporting the range of business processes. E-Commerce: All financial & Information electronically mediated exchanges between organization and its external stakeholders.
Includes direct online sales and sales from offline channels influenced online. Achieves through wider distribution to customers you cannot readily service offline or perhaps through a wider product range than in-store, or lower prices compared to other channels
- Achieve 10% of sales online in market
- Increase online sales for product by 20% in year.
Serve – Add value
Achieved through giving customers extra benefits online or inform product development through online dialogue and feedback
- Increase dwell-time duration on site by 10% (sometimes known as "stickiness")
- Increasing number of customers actively using online services (at least once per month) to 30%
Speak – Get closer to customers
Creating a Two-Way dialogue through web interactions like famous and surveys and conducing online market research through formal surveys and informally monitoring chat rooms…
Grow e-mail coverage to 50% of current customer database
Survey 1000 customers online each month
Increase visitors to site section by 5%
Save- Save costs
Achieved through online e-mail communications, sales and service transactions to reduce staff, prints and postage costs. Savings also accrue through web self-service where customers answers queries through online content
Generate 10% more sales for same communications budget
Reduce costs of direct marketing by 15%
Sizzle – Extend the brand online
Achieved through providing new propositions, new offers and new experiences online while at the same time appearing familiar.
1 – Information / experience seeking behavior models:
Directed Information-seekers: These users will be looking for product, market or leisure information such as details of their football club's fixtures. They are not typically planning to buy online.
Undirected Information-seekers: These are the users, usually referred to as "surfers", who like to browse and change sites by following hyperlinks. Members of this group tend to be beginners and they may be more likely to click on a banner or an ad.
Directed Buyers: These buyers are online to purchase specific products online. For such users, brokers or cyber-me diaries that compare product features and prices will be important locations to visit.
Bargain hunters: These users sometimes known as "compers" want to find the offers available from sales promotions such as free samples or competitions.
Entertainment seekers: These are users looking to interact with the web for enjoyment through entering contests such as quizzes, puzzles, or interactive multi-player games.