Services and / or products bought and sold using the internet is now the most common form of marketing in the more developed societies, especially among tech-savvy individuals. Over the last 10 years or so, internet- or e- or online-marketing has revolutionised an age-old activity, ever since the true capabilities and capacities of the web rapidly started unfolding. The term internet marketing also refers to the placement of advertisements (media) such as in banner advertisements on websites, search engine marketing, Web 2.0 strategies and so on.
There are many advantages to internet marketing:
- Inexpensive It involves less cost to reach a larger audience as compared to the more conventional marketing models.
- Greater Reach There is far greater capacity to contact a global audience through internet marketing.
- Interactive Customers questions and concerns can be addressed much faster and in more detail, thereby allowing the client to make a more informed purchase. There is more data available to both the seller and the buyer; this makes it easier to fit the product or service better for each individual, leading to higher levels of satisfaction.
- Holistic Design, development, advertising and the actual sale can all be covered, leading to better products being made available at the right time to the person who needs it.
- Measurement Statistics are available easily since most if not all aspects of an internet transaction can be measured and tested; pay per action, pay per play, pay per click, etc. This can be useful in analysis of trends, appeal and a host of other marketing requirements.
The disadvantages are:
- Technology Many consumers in less developed societies and regions do not have access to the internet to carry out the transaction.
- Intangibles Buyers cannot touch, smell or feel the products, which in some cases can put off the purchase decision.
- Security Information about the buyer and the seller relating to personal finances, commercial aspects, design, etc can be compromised if the transaction(s) do not follow high levels of security. Moreover, there may be a mismatch in what the consumer purchases and what is actually delivered.
The main business models associated with internet marketing include affiliate marketing, e-commerce, lead based websites and publishing. The internet marketer may appeal to buyers in a specific geographical location or who have a special interest. The target may be an individual or a group. With the rapid advances in telecommunication facilities and miniaturisation, there is more and more scope for people to access the internet anytime and anywhere. This has had a massive impact on industries who had earlier marketed their products through the retail network, such as music, financial institutions, films, etc. These companies have had to radically change their outlook and think up absolutely novel ways to keep their customers and also to avoid various degrees of piracy.
Internet marketing is only likely to evolve further in ways hard to imagine even now. Sellers who are already transacting on the internet need to stay on their toes and those companies however big not yet exploring the possibilities can be facing extinction just like the dinosaurs!
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E-mail marketing is an efficient way of marketing as youngsters make it a point to twice or thrice a week, as they are addicted to the internet. So our mail will not go unnoticed. I came to know the merits associated with e-mail marketing on reading your article .You have conveyed the message clearly and wonderfully.