The Internet has become the most important new communication platform since TV and is fundamentally reshaping the contemporary view of sales and marketing. If your business does not have an Internet marketing strategy, you will lose market share and credibility…it’s that simple.
Good business owners and leaders know how to execute. That is how they have achieved the positions they hold. It is now more important than ever to change the way we do business. If you are still doing business the same way you were six months ago, you may be in for a rude awakening.
All the same fundamentals apply to online marketing strategies as they do for traditional media:
• What are your overall business goals?
• Is your business model realistic? (maybe it was 12 months ago but what about now)
• Who are your customers?
• What is the competition doing? Who are your online competitors?
• What marketing mix strategies are most effective?
• When will you achieve a good ROI?
Questions about Internet marketing and why it is so relevant today. We will make sure to answer then all eventually!
1. What does Internet marketing entail, what are the channels involved?
2. Why is Internet marketing becoming so popular and how is it different than traditional media?
3. How is it more cost effective?
4. What is the difference between paid search (pay per click) advertising and organic search engine optimization? Which is better?
5. Explain why it is important to have a good website, how to get targeted traffic, and how to turn that traffic into business?
6. How can a company effectively use Internet marketing during tough economic times?
7. What is an example of a good comprehensive Internet marketing strategy?
8. If you really do not have any budget for any kind of marketing, how can you still tap into your online audience?
9. So what is social media anyway?
10. How is video content being used for online marketing?
11. How do I get started and what are some of the initial hurdles to overcome? (convincing senior management)
The Growth of Internet marketing & The Power of Being Online
• Online ads expected to generate $19 billion by 2009. (Jupiter Research)
• Ecommerce transactions to total $329 billion by 2010, which represents 13% of total US Sales. (Forrester Research)
• Online advertising can boost brand impact at 60% less cost than piling on more offline ads. (Forrester Research)
• 50% of small to medium size firms attributed some portion of their annual sales to their online presence. (Forrester Research)
• 40% of consumers cite search engines such as Google and Yahoo as the chief way they research products and services. (Bwired.com)
Internet Marketing Defined: “Internet marketing is a set of activities that enable the acquisition of targeted Web traffic and the conversion of Web visitors.” (Weidman Consulting)
• Lower costs for exposure to a global audience
• Ability to be extremely targeted
• Internet marketing is more measurable than tradition media
• Technology makes it easy to get in front of your customers and interact with them in real time
• Internet marketing brings creativity and technology together
• Effective internet marketing requires a comprehensive strategy that synergizes business goals with branding, online sales and marketing efforts, and conversions
• Internet marketing makes it easier to engage to customer during all stages of the sales cycle
• The strategy and effectiveness differs from industry to industry and depends on the company’s business goals cost/volume/profit analysis
• B2B and B2C: basically the same principals apply