The e-Marketing Saga
The e-Marketing Saga
The e-Marketing Saga
1. What is eMarketing?
Very simply put, eMarketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms eMarketing, Internet marketing and online marketing, are frequently interchanged, and can often be considered synonymous. eMarketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers. By such a definition, eMarketing encompasses all the activities a business conducts via the worldwide web with the aim of attracting new business, retaining current business and developing its brand identity.
2. Why is it important?
When implemented correctly, the return on investment (ROI) from eMarketing can far exceed that of traditional marketing strategies. Whether you're a "bricks and mortar" business or a concern operating purely online, the Internet is a force that cannot be ignored. It can be a means to reach literally millions of people every year. It's at the forefront of a redefinition of way businesses interact with their customers
3. Advantages of e-Marketing
Following are some of the advantages of e-Marketing: Reduction in costs through automation and use of electronic media Faster response to both marketers and the end user Increased ability to measure and collect data Opens the possibility to a market of one through personalisation Increased interactivity
4. Disadvantages of e-Marketing
Following are some disadvantages of e-Marketing: Lack of personal approach Dependability on technology Security, privacy issues Maintenance costs due to a constantly evolving environment Higher transparency of pricing and increased price competition Worldwide competition through globalisation
5. The benefits of eMarketing over traditional marketing
Reach The nature of the internet means businesses now have a truly global reach. While traditional media costs limit this kind of reach to huge multinationals, eMarketing opens up new avenues for smaller businesses, on a much smaller budget, to access potential consumers from all over the world. Scope Internet marketing allows the marketer to reach consumers in a wide range of ways and enables them to offer a wide range of products and services. eMarketing includes, among other things, information management, public relations, customer service and sales. With the range of new technologies becoming available all the time, this scope can only grow. Interactivity Whereas traditional marketing is largely about getting a brand's message out there, eMarketing facilitates conversations between companies and consumers. With a two-way communication channel, companies can feed off of the responses of their consumers, making them more dynamic and adaptive. Immediacy Internet marketing is able to, in ways never before imagined, provide an immediate impact. Imagine you're reading your favourite magazine. You see a double-page advert for some new product or service, maybe BMW's latest luxury sedan or Apple's latest iPod offering. With this kind of traditional media, it's not that easy for you, the consumer, to take the step from hearing about a product to actual acquisition With eMarketing, it's easy to make that step as simple as possible, meaning that within a few short clicks you could have booked a test drive or ordered the iPod. And all of this can happen regardless of normal office hours. Effectively, Internet marketing makes business hours 24 hours per day, 7 days per week for every week of the year. By closing the gap between providing information and eliciting a consumer reaction, the consumer's buying cycle is speeded up and advertising spend can go much further in creating immediate leads Demographics and targeting Generally speaking, the demographics of the Internet are a marketer's dream. Internet users, considered as a group, have greater buying power and could perhaps be considered as a population group skewed towards the middle-classes. Buying power is not all though. The nature of the Internet is such that its users will tend to organise themselves into far more focussed groupings. Savvy marketers who know where to look can quite easily find access to the niche markets they wish to target. Marketing messages are most effective when they are presented directly to the audience most likely to be interested. The Internet creates the perfect environment for niche marketing to targeted groups. Adaptivity and closed loop marketing Closed Loop Marketing requires the constant measurement and analysis of the results of marketing initiatives. By continuously tracking the response and effectiveness of a campaign, the marketer can be far more dynamic in adapting to consumers' wants and needs. With eMarketing, responses can be analysed in real-time and campaigns can be tweaked continuously. Combined with the immediacy of the Internet as a medium, this means that there's minimal advertising spend wasted on less than effective campaigns. Maximum marketing efficiency from eMarketing creates new opportunities to seize strategic competitive advantages. The combination of all these factors results in an improved ROI and ultimately, more customers, happier customers and an improved bottom line.
6. The difference between eMarketing and internet or web marketing?
There is no real difference between eMarketing and internet or web marketing. However, with the arrival of mobile technologies such as PDA's and 3G mobile phones, as well as Interactive Television, both terms tend to be stretched to include these new media technologies. On the other hand, others would see eMarketing and internet or web marketing as subtly different, for example Chaffey (below): Internet [or web] marketing is achieving marketing objectives through applying digital technologies. (Chaffey 2006) eMarketing is achieving marketing objectives through use of electronic communications technology. (Chaffey 2006) Whilst this distinction is wholly acceptable, it is difficult to see where the distinction lies between digital technologies and electronic communications technologies, especially with the convergence of technologies such as mobile devices.
7. Difference between e-Business, e-Commerce and e-Marketing
e-Business is a very broad entity dealing with the entire complex system that comprises a business that uses electronic medium to perform or assist its overall or specialised business activities. e-Commerce is best described in a transactional context. So for example an electronic transaction of funds, information or entertainment falls under the category handled by principles of e-Commerce. Technically e-Commerce is a part of e-Business. e-Marketing is also a part of e-Business that involves electronic medium to achieve marketing objectives. e-Marketing is set on a strategic level in addition to traditional marketing and business strategy.
8. Difference between e-Marketing and Interactive Marketing
e-Marketing is a broader term that describes any marketing activity performed via electronic medium. Interactive Marketing is generally a sub set of e-Marketing that involves a certain level of interaction.
9. What are the eMarketing tools?
The Internet has a number of tools to offer to the marketer. A company can distribute via the Internet e.g. Amazon.com. A company can use the Internet as a way of building and maintaining a customer relationship e.g. Dell.com. The money collection part of a transaction could be done online e.g. electricity and telephone bills. Leads can be generated by attracting potential customers to sign-up for short periods of time, before signing up for the long-term e.g. which.co.uk. The Internet could be used for advertising e.g. Google Adwords. Finally, the web can be used as a way of collecting direct responses e.g. as part of a voting system for a game show.
10. How do marketers plan for eMarketing?
There are two ways of looking at this. An existing organization may embark upon some eMarketing as part of their marketing plan. An organization trades solely on the Internet and so their marketing plan focuses purely on eMarketing. The marketing plan in either case is the next step, whether focused upon eMarketing or all marketing. The next lessons focus upon a tailor-made eMarketing plan which conforms to the acronym AOSTC A - Audit - An audit of internal strengths and weaknesses, an external opportunities and threats. O - Objectives - SMART eMarketing objectives. S - Strategy - eMarketing strategies. T - Tactics - an eMarketing mix. C - Controls - measuring the performance of our eMarketing plan.
11. Conclusion
In conclusion, e-marketing offers a valuable addition to the arsenal of marketing tools, while providing important feedback on the cost-effectiveness of marketing initiatives, which is especially important in the midst of the current economic conditions.we could say that eMarketing allows relational exchanges in digital, networked and interactive environments (acronym: DNI environments). eMarketing: it has developed over the past few years into a standalone discipline, with its own conceptual apparatus, tools and laws, but with a still-to-be systematized knowledge.
12. References:
1. e-marketing-Business Journal Dayton, June 2004-Caleb Stephens 2. Internet Marketing-Journal of Internet Marketing February 2003, vol 4 no1. By Graham Rhind, Editor-in-Chief 3. eMarketing excellence: -Journal of Direct Data, and digital marketing practice-The Heart of eBusiness- P R Smith D Chaffey Butterworth Heinemann; 2002 4. various websites and blogs related to emarketing
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