The usage of internet has grown across the globe by leaps and bounds, and it has come to embrace everything be it business, education, healthcare, information or just about anything else. With a gigantic number of users businesses today have come to include internet marketing as a crucial part of their overall marketing strategy.
Since internet has a global reach, it offers the possibility of reaching out a massive number of target customers. No business would want to miss out on the great business prospects that internet promises. In the view of the fact, that internet is a highly significant and powerful medium for communication it offers a million dollar opportunity for all businesses.
Internet still in the rampant growth phase, and will continue to do so because of the reason that it gives us an answer to anything and everything in the contemporary age, and because it is unrivalled and one of its kind technology. Therefore, for business growth and success all companies engage in internet marketing.
Business Models Supported by Internet Marketing:
- E-commerce:
This is selling of product and services over the internet through promoting product offerings via utilizing various online advertising tools. This is done between business and customer (B-to-C model), and has the widest usage of internet marketing tools. Examples include: Peapod, Amazon.com, and many similar others.
- Business-to-business:
Here, businesses sell to each other over the internet. These are usually industrial or specialty products. The examples of successful B-to-B online companies are: Accenture, iStockphoto.com, IBM business solutions, and the like.
- Customers-to-customers:
Web technologies have facilitated the easy exchange between customers, here the products are mostly second hand but it is a huge market nevertheless. E-bay in the biggest example of C-to-C selling, where you can buy just about anything and that too at lower than market rates.
- Lead Generation:
A lot of online businesses are based on the telesales module, but on the internet instead of telephone they approach customers through e-mails, referrals, etc. and generate sales leads for different companies and earn commissions on every lead or sale made. Almost all e-business are involved in the affiliate network programs and generating revenues via them.
- Affiliate Marketing:
In this you form a business partnership with affiliate markets, who promote your product offerings further and earn commission for generating online traffic for your business website. A lot of websites give product reviews and information but then lead the customers back to Amazon.com for buying them.
Internet marketing goes a beyond the reach, effects and potential of conventional marketing. It gives you a chance to come in contact with your customers on one to one basis, which leads to higher customer satisfaction when the feedback they provide is integrated in the business.
By combing both conventional marketing and internet marketing for brick and mortar businesses they can achieve a holistic marketing era, where the ultimate business objective of profit maximization becomes easy for companies.
For online businesses, internet marketing is without question the backbone of the company. You just cannot attract customers and generate revenue without using the web promotional tools. Recently, we have seen a rise in the number of successful brick and click businesses, all due to adoption of internet marketing.
What Is To Be Gained From Internet Marketing:
- Access to a high number of potential customers.
- A global reach, where you can cater to the needs of your widely spread target market.
- Chances of greater Return on Investment percentages due to more incoming customers.
- You can manage your internet marketing campaign in real time, therefore adding on and improving wherever you are lacking in providing to your customers.
- Higher customer satisfaction because they can give feedback easily, which can be promptly worked upon.
- Easy tracking of your strategy and its effects on your business via analyzing the results achieved.
- Quicker implementation and results cycle, therefore, faster profits generation.
To sum it up, internet marketing can take your business to new heights of success, unimaginable before. Just devise your internet marketing strategies wisely and watch your customer base grow, resulting in the development and profitability of your business.
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