The most common role of analytics in Internet and digital marketing is to discreetly gather information from customers from their visits to a company website, and to accordingly adjust their business model and marketing to match this new data. This works for both short- and long-term in researching patterns of customer behaviour. 2. How do I implement permission marketing? Permission marketing is implemented by verifying that the customer is interested in receiving further snail mail and e-mail relating to a product or service.
It can more discreetly be gathered by using information from search engine queries and providing information accordingly. This can also be used to show specific ads to more specific audiences before they watch a video online. 3. What is price transparency and how does the Internet facilitate it? Simple price transparency involves both the merchant and the prospective customer knowing the true price of a product. The internet has facilitated this in a number of ways: various online merchants (such as Amazon and eBay) often sell products for a much lower price than would be found in a highly marked-up brick and mortar store.
There are even smartphone applications that allow a bar code in a store to be scanned and instantly compared to prices online. 4. What do personalisation and mass customisation mean and how should I apply them in my marketing? The basic definition of personalization is the use of technology to accommodate the unique needs of different individuals, and mass customization is the use of computer-powered manufacturing systems to produce the custom output required of personalization.
The best way to use this in marketing is to gather information from individual customers and to create a product tweaked just enough to feel personal. 5. How does digital marketing strategy relate to marketing strategy and business strategy? Digital marketing strategies are similar to traditional marketing and business strategies in some ways, and vastly different in others. Digital marketing is most similar to traditional models when it “pushes” messages to customers digitally (through e-mails, text messages, etc. ) with more specificity than mass snail mail.
It also has “pull” marketing, inviting customers to visit a product site, a blog, or to use a search engine. 6. What is a reverse auction? Give example The basic definition of a reverse auction is one where the role of the buyers and sellers are reversed, with businesses offering competing bids to perform a given service. An example of this would be the oDesk website and other outsourcing sites—customers list the task they need to be performed, and various individuals and business entities attempt to offer lower bids to do it, which results in lower prices overall for the customer.
7. How do I choose the best mix of online and offline communications techniques? The ideal mixture of online and offline communication techniques is essentially determined by the audience of a business. If the business has a brick and mortar store, then television, radio, and snail mail advertisements remain a must. However, the business should be reachable via e-mail, and have a web-savvy presence on social networking sites such as Facebook and Twitter. This allows them to appeal to online and offline audiences. 8.
Explain the difference between disintermediation, reinter mediation and counter mediation Disintermediation is the very definition of “cutting out the middle man,” allowing a business to sell to consumers directly. Reintermediation is when the middle man is re-introduced, usually after the business learns the hard way that middle men are a necessary part of the structure. Countermediation can refer to either partnering with an existing intermediary, or creating one within the company itself (as opposed to choosing someone already on the market).
9. What is viral and does it differ from electronic word-of-mouth marketing? The chief difference between viral marketing and electronic word-of-mouth marketing is the level of interaction. As the name implies, electronic word-of-mouth marketing is simply a digital way of doing what people have done for years—telling someone about a product. Viral marketing often uses interactive games, mysterious text messages, social networking sites, and other forms of advertisement to draw the customer in…
they effectively become the advertisement to those they tell about it. 10. How should I plan an online marketing campaign? An online marketing campaign has several successful components; there should be search engine optimization so customers can locate the site, which feeds into a one-to-one approach so that the customer feels that the product has been customized for them. Combined with geotargeting, the customer’s specific interests can also be paired with selective sponsor ads that help to fund the marketing operation over a more long-term site.