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MK 0008
Future of Internet Marketing- Emerging Trends
According to trend watchers of Internet Marketing, the
near future will see websites getting more personalized as
they cater to niche markets and consumers. Internet
marketing through audio newsletters will become a more
convenient tool for the target audience. An audio file can
be placed with an html code easily. Herein the experts
also foresee enhanced usage of podcasts, personalized
and interactive audio newsletters and WebPages.
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E-Business Models
By Richard Trombly
December 4, 2000 12:00 PM ET
Recommended (23)
Computerworld - An e-business model is simply the
approach a company takes to become a profitable
business on the Internet. There are many buzzwords
that define aspects of electronic business, and there
are subgroups as well, such as content providers,
auction sites and pure-play Internet retailers in the
business-to-consumer space.
Many Internet firms witnessed a meteoric rise in their
stock values in the late '90s, only to crash this year. For
instance, Drkoop.com Inc. in Austin, Texas, announced
its initial public offering at $9 per share in June last
year. The price rose to more than $30 per share but
has since plummeted to less than $1 per share.
Given the carnage among dot-com stocks this year,
what online business models are expected to succeed
in the future?
"What we learned was what we knew all along," says
Kenneth P. Morse, a senior lecturer and managing
director of the MIT Entrepreneurship Center in
Cambridge, Mass. "Businesses need to make more
money than they spend. The new model is the old
model, but technology is essential to maintain a
competitive advantage, and cash flow is more important
than ever."
Yahoo Inc. in Santa Clara, Calif., operates a successful
portal site, providing content and an Internet search
engine. However, many portal sites, such as Go.com,
MSN.com and AltaVista.com, have fallen on hard times.
The idea behind portals is the same as that behind
television advertising: aggregating eyeballs and
directing them toward advertisements. But television
viewers are passive, and people need to wait through
the ads to see the shows they want to watch.
"But the Web doesn't work that way," explains Bill
Frezza, a general partner at Adams Capital
Management Inc. in Sewickley, Pa. "Content
presentation is not serial. Viewers are active, not
passive. There are always thousands of places to go.
No Web advertisement can match a 15-second TV
spot."
When First-to-Market Fails
Many of the failing companies were operating on a first-
to-market strategy. Their hope was that by getting their
ideas out ahead of the market, consumers would
develop brand loyalty before competitors arrived.
Priceline.com Inc. in Norwalk, Conn., is a good example
of a company that attempted this strategy, with its
name-your-own-price scheme for buying airline tickets
and other goods.
But the closing of its Greenwich, Conn.-based
WebHouse Group licensee - which applied the same
model to groceries and gasoline - combined with
increased competition from airlines and other travel
sites has led Wall Street to trade Priceline.com's stock
down to less than $3 per share, from a high of $104.25
in March.
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eMarketing overview
eMarketing has in the past been considered as the poor
relation compared to traditional marketing techniques or
valid only for purely internet based businesses. However,
the success that emarketing now enjoys has clearly shown
that any company which does not have an emarketing
side to their business development is missing out on the
huge opportunities on offer through this medium.
This is particularly true for Small and Medium sized
businesses (SMEs) without the marketing budgets
available to larger companies. The cost effective and
highly targeted nature of emarketing, together with the
ability to monitor the results quickly and accurately means
that emarketing campaigns can be honed in real time to
produce the best possible results and Return on
Investment (ROI).
eMarketing and your website
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Ans-5
Make It Secure
The surge in popularity of online shopping has,
inevitably, seen an exponential rise in instances on online
fraud. Of paramount importance to any savvy shopper is
security. Provide as many assurances as you can,
including a secure payment facility.
Comply With Consumer Rights
Consumer Protection (Distance Selling) Regulations 2000
mean you must provide customers with your full
company name and address prior to any purchase. Any
purchase should be followed by a confirmation email and
obligatory cool-off period. You can find more details by
clicking on this link.
Pay Attention To User Experience
Web usability is everything when it comes to online
shopping. Take some time out to navigate the user
experience checking for ease of use, broken links and so
on. Remember, if you don’t bother to get it right for the
customer, why should the customer bother with you?
Coordinate Online With Offline
If you have a corresponding offline business (such as a
shop, etc.) – ensure the two integrate seamlessly. Most
importantly, make sure your prices correspond and that
stock levels are consistent and up-to-date. If you are
offering an online only promotion, make sure the terms
are clearly visible so that customers do not expect to find
it in store.
Add a Personal Touch
It may sound obvious, but offering a telephone number
and email address will go a long way towards improving
the customer experience – even on the web, good
customer service remains the cornerstone by which all
businesses are judged. Answer queries promptly and
professionally. Consider using more recent innovations
such as live chat/help for that added personal touch.
Show Some Personality
Installing an online blog and engaging customers over
social media platforms is a great way to correspond with
customers on a more personable level. Twitter for
example can be used as a very effective customer service
tool, or an opportunity to publish answers to frequently
asked questions.
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Understand your first moment-of-truth!
In 1 day, learn how to prevent at point of purchase (i.e., at
the store level), interceptions of your consumers' decision
to buy your brand in favor of another, or (at your end) how
you can intercept the consumers' buying decision for the
competitor brand to shift to your brand's favor. Learn all
these through gathering continuing data on consumer in-
store shopping and buying behavior, analyzing those data,
and translating them into in-store consumer brand
switching or brand commitment campaigns. Learn also
how to do this tracking cost-effectively or within an
economically responsible budget.
Key benefits for participants
Each participant will learn:
how much sales is lost from assuming that the target
consumer decision at home to buy a brand won't
change or switch to another once inside the store,
and therefore a counter purchase interception
campaign is worth considering
how to take the initiative in intercepting in-store
consumer purchases of another brand for one's favor
how to learn all these in a cost-effective manner and
on a continuing basis
Key benefits for companies
The company will gain:
an understanding of what it will take to make sure that
when its consumers get motivated at home to buy its
advertised brand, they will implement that intention at
the store level
an understanding of what it can do so consumers of
its competitor brand can be hijacked at the store level
to switch in favor of its own brand
the know-how to translate those understandings into:
(1) an on-going in-store anti-interception program,
and (2) a continuing in-store intercepting program