What is Internet Marketing? In broad terms Internet Marketing refers to promotion of commerce or business through the Internet medium. It is the way in which products or services are promoted and sold over the Internet. Internet marketing, also called web marketing, online-marketing and even “i” or “e” -Marketing uses the Internet to deliver all types of media to a global and even local market. The relatively low cost to disseminate information to a global audience makes it very unique compared to marketing of the past.
The interactive nature of the Internet has forced the evolution of its marketing strategies to include specialist skills to deal with the instant response and eliciting responses now present with this unique medium. A device must be included in your Internet marketing system to accommodate this instant response.
The term is also inclusive of the post-sale relationship between a business and its customers because it encompasses digital customer data management and electronic customer relations. It is widely used in the business world today and referred to as ECRM – Electronic Customer Relationship Management. This makes the scope larger as it refers to the on-going relationship supported by the Internet, e-mail, and wireless media.
Internet marketing ties together the technical and creative aspects of the Internet including design, branding, promotion and advertising, as well as sales. Here are three main objectives to help define Internet Marketing:
(1) Deliver a company’s message or presence in a marketplace. Branding its culture, mission and value as well as educating or detailing its products or service via the computer screen.
(2) Collect data research not limited by demographics, individual preferences or past requirements of both existing customers and (different groups, classes, stereotypes, etc.) as potential new customers.
(3) The actual selling, collection of fees, tracking of distribution and follow up of goods, services, or advertising space over the Internet.
The way in which one reaches out via the Internet to its prospective client is through different strategies. The more popular Marketing Strategies utilized by Internet Marketers are Social, Content and Paid marketing approaches. Each has their own attributes as well as limitations or short-comings.
There are several Business Model terms associated with Internet Marketing.
E-COMMERCE (electronic-commerce) refers to business over the Internet. Web sites such as Amazon.com and eBay are all e-commerce sites. The two major forms of e-commerce are Business-to-Consumer (B2C) and Business-to-Business (B2B). So, while the neighborhood baker doesn’t sell his cupcakes on the Internet, he utilizes the benefits of the Internet to search and find the supplier with the best price for flour.
LEAD-BASED WEBSITES are organizations or groups of websites that create value by capturing prospective clients or sales leads from the Internet to be utilized by or sold to a third party.