Mk3

151 views
137 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
151
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Mk3

  1. 1. What is the impact of technology on marketing?Technology has changed everything. Product life cycles are shorter. Consumers are moreinformed, demanding, elusive. And brands can no longer afford to be crafted over lengthyperiods of time. Instead, writes advertising guru Agnieszka Winkler, a brand can--and must--be built at warp speed. She continues:With the advent of new communications technologies, it is now possible to spread the word,like a village drumbeat, to all corners of the world in months, weeks, or even days. Thedrumbeat is often carried by the users themselves--a more believable source of information inour jaded, skeptical society.This is a really big and topical subject and I have written various articles on the subject.However, here is a kind of brain dump summarising the key points in a fairly random way:ProductThe Internet is changing the product and services available in a big way. In professionalservices, the Internet is allowing firms to develop new packaged products - sometimes byproviding integrated or related services such as financial and estate agents services. Usingextranets means that certain clients can be provided with access to the firms internal systemswhich both adds value and locks in clients to your service.There are some good legal examples at kt.uklaw.net and fidler.co.uk. The expansion of theInternet is creating new issues in terms of contractual rights and copyright too - new serviceareas for lawyers.PriceThe Internet allows a lot of information to be obtained easily by customers. One side effect isthat it is much easier to compare prices making price competition fiercer. The use ofcomputer systems to reduce the time and effort involved in producing and delivering productsand services means that suppliers can either increase their margins or offer the same servicesat a lower price. Commoditisation is also occurring where people package new products andservices together and offer them, via technology, at a lower price (the high volume, low valueapproach). On-line payment (through credit cards) makes it more convenient toclients/customers and can make cash collection quicker and cheaper for suppliers - againincreasing the possibility of price reductions. Yet the Internet can make it more difficult tooffer discriminatory pricing (i.e. different prices for different customer groups).PlaceThe developments in the power of databases means that direct marketing is really coming tothe fore allowing new segments to be more easily identified and allowing segments-of-one tobe profitably targeted. Permission marketing has been born but is still in its infancy. TheInternet is also a great source of information - allowing you to keep up with your competitorsand clients activities. On-line polls and surveys can yield a large amount of additionalinformation about your clients.
  2. 2. It also means that it is much more difficult to retain any form of differentiation when yourservices and approach are clear for all - including your competitors - to see. The Internet alsoallows you to reach a much wider geographical spread than was previously possible. TheInternet makes markets more even - allowing smaller players to compete with big players andoverseas competitors to enter new markets with ease. Some argue that the Internet is justanother channel which needs managing just the same as other channels (e.g. retail outlets,warehouses, direct mail etc).PromotionIn just about every sphere of promotion - advertising, direct marketing, personal selling,public relations - CD Roms, web sites, personalisation and interactivity are makingfundamental changes to the way marketing works. For example:AdvertisingYou need a web site - even if only as an on-line brochure. You need to advertise to get trafficto your web site. You can provide a web address in advertisements to provide furtherinformation or to capture customer information and orders. Digital television and thebroadcasting revolution (including web TV) makes mass advertising practical and affordablefor much smaller companies than previously. There are all sorts of new advertising medianow available - electronic posters, information kiosks, banner advertisements, on-linedirectory entries etc. Interaction and multimedia are challenging the creative treatments ofadvertising as well.Direct marketingDatabase technology aligned with digital printing of short runs of full colour promotionalmaterials has had a dramatic impact on direct mail. Email lists make it easier to have moreregular and focused communications with key customers and clients. The use of call centresand computer assisted voice telephony are rewriting the books on customer service andfulfilment. Permission marketing is where customers provide information about their needsand preferences and agree to the supplier using this information for further marketingactivities.Public relationsBrochures and publications are now electronic, interactive and tailorable to the specific needsand interests of smaller markets and even individuals. On the WWW, the customer decideswhat information they require and in what order so some level of supplier control is lost.Desktop design and publishing is reducing the need for and cost of expensive designers andprinters - sadly, good design is becoming rarer as more amateurs try their hands. Clientcommunication programmes are much more easily maintained through the use of email andelectronic communications - which also reduces the cost of postage. Media relations can beenhanced by providing background information and news releases on web sites. The Internetenvironment has generated a wide range of additional media which are hungry for goodcontent.Selling
  3. 3. Those tasked with selling can use the Internet to undertake fast research into prospects.Electronic presentations can be easily tailored and presented desk side or remotely (by emailor teleconference). Databases have revolutionised client and contact management systemsand field sales staff effectiveness and supervision.Sales promotionsThe use of 3D simulations and virtual reality means you no longer have to create a realexhibition space or show suites. Giveaways are often technology flavoured (mousemats,screen savers, free software etc).Digital Marketing as new tool of MarketingDigital marketing is the use of digital sources based on electronic signal like Internet, digital displayadvertising and other digital media such as television, radio, and mobile phones in the promotion ofbrands and products to consumers. Digital marketing may cover the more traditional marketingareas such as Direct Marketing by providing the same method of communicating with an audiencebut in a digital fashion.Two different forms of digital marketing exist.Pull digital marketing in which the consumer must actively seek the marketing content, oftenvia web searches, and push digital marketing where the marketer sends the content to theconsumer, as in email. Websites, blogs and streaming media (audio and video) are examplesof pull digital marketing. In each of these users have to link to the website to view thecontent. Only current web browser technology is required to maintain static content.However, additional internet marketing technologies (search engine optimization) may berequired to attract the desired consumer demographic.Push digital marketing technologies involve both the marketer as well as the recipients.Email, text messaging and web feeds are examples of push digital marketing. In each ofthese, the marketer has to send the messages to the subscribers. In the case of web feeds,content is pulled on a periodic basis (polling), thus simulating a push. Push technologies candeliver content immediately as it becomes available and is better targeted to its consumerdemographic, although audiences are often smaller, and the cost for creation and distributionis higher.How significant is digital marketing?a) No matter what kind of business youre in, marketing is the most important part.People want to buy goods or services from companies that are credible. Theadvertising strategy of any business determines the success of the business in the longrun.b) We are now in the internet age, and businesses have a wide range of opportunitieswhere they can gain potential customers. With a large group of consumers connectedto the internet and other digital platforms, digital marketing has an edge over
  4. 4. traditional marketing techniques. Older generations will mourn the slow death ofnewspapers, books, and make room for those who have grown up with the internetand mobiles and who are already embracing the new wave of digital consumption.c) If a business wants to participate in a digital marketing campaign its vital to figureout the right campaign that will appeal to their specific target audience. Out of thegreat selection of digital marketing methods, the internet stands out as it is thecheapest and most effective option. Online advertising, video advertising, blogging, e-mail, and social media are just a few tools that have stemmed from the internet, andits ability to reach a customer base that is global at great speed and at minimal costcompared to the more conventional marketing techniques.d) With all these options that are available its no surprise that businesses want torecognise the best method that helps them to reach and deliver the best results thefastest. So finding the right digital marketing agency is vital, one of many extremelyimportant things to consider is the Web design-This may require expert advice. Youneed to make sure you website is attractive to potential customers and ensure thatplenty of information is readily available and most importantly to you must ensurethat your website is easy to navigate.e) There are many other specialist features which an agency can offer. If your business isin need of a digital marketing agency then make sure you look at their customertestimonials section of their website to make sure they are suitable for your business.An exceptional marketing agency will be able to increase your number of site visitorsusing Search Engine Optimisation Services.f) Internet marketing has many benefits, and some benefits are that digital marketingspreads fast, its one of the cheapest methods and is a great way to promote your brandon the Internet. So dont get left behind, find how you can get your digital campaignup and running.g) If youre looking for a Digital marketing agency that will provide you with superbresults that can benefit your buisness greatly, Visit http://www.bigfootdigital.co.uk/for more information today.INTERNET MARKETING:Internet marketing, also known as web marketing, online marketing, webvertising, or e-marketing, is referred to as the marketing (generally promotion) of products or services overthe Internet. iMarketing is used as an abbreviated form for Internet Marketing.[citation needed]Internet marketing is considered to be broad in scope[citation needed]because it not only refers tomarketing on the Internet, but also includes marketing done via e-mail and wireless media.Digital customer data and electronic customer relationship management (ECRM) systems arealso often grouped together under internet marketing.[1]Internet marketing ties together the creative and technical aspects of the Internet, includingdesign, development, advertising and sales.[2]Internet marketing also refers to the placementof media along many different stages of the customer engagement cycle through searchengine marketing (SEM), search engine optimization (SEO), banner ads on specific websites,email marketing, mobile advertising, and Web 2.0 strategies.[cita
  5. 5. Types of Internet marketingInternet marketing is broadly divided in to the following[4]types:Display Advertising: the use of web banners or banner ads placed on a third-partywebsite to drive traffic to a companys own website and increase product awareness.[4]Search Engine Marketing (SEM): a form of marketing that seeks to promote websitesby increasing their visibility in search engine result pages (SERPs) through the use ofeither paid placement, contextual advertising, and paid inclusion, or through the useof free search engine optimization techniques.[5]Search Engine Optimization (SEO): the process of improving the visibility of awebsite or a web page in search engines via the "natural" or un-paid ("organic" or"algorithmic") search results.[6]Social Media Marketing: the process of gaining traffic or attention through socialmedia websites such as Facebook, Twitter and LinkedIn.[7]Email Marketing: involves directly marketing a commercial message to a group ofpeople using electronic mail.[8]Referral Marketing: a method of promoting products or services to new customersthrough referrals, usually word of mouth.[9]Affiliate Marketing: a marketing practice in which a business rewards one or moreaffiliates for each visitor or customer brought about by the affiliates own marketingefforts.[10]Content Marketing: involves creating and freely sharing informative content as ameans of converting prospects into customers and customers into repeat buyers.ELECTRONIC MARKETING:OHT 8.8© Marketing Insights Limited 2004SOSTAC – a generic frameworkfor e-marketing planningFigure 8.2 SOSTAC™ – a generic framework for e-marketing planning
  6. 6. • Electronic business has some degree of overlap withelectronic marketing. From the discussion of themarketing concept above we can reject this since bothe-marketing and e-marketing are broad topics.• Electronic business is broadly equivalent to electronicmarketing. This is perhaps more realistic, and indeedsome marketers would consider e-business and e-marketing to be synonymous.Electronic marketing is a subset of electronic business.It can be argued that this is most realistic since e-marketing is essentially customer-oriented and it hasless emphasis on supply chain and procurementactivities in comparison with e-business.Mobile MARKETING:The mobile Web can support direct digital marketing tactics like SMS, MMS, and even emailsthat contain a mobile-friendly version viewable as a Web page. Mobile Web pages should bedeveloped for universal functionality across mobile browsers and devices so the experience isconsistent for the greatest possible consumer base .The online marketing universe is filled with discussion about mobile as an emerging direct digitalmarketing channel. Despite all the discussion, we see that many marketers are very unclearabout what mobile marketing really means, or they have very different working definitions. This isjustified because the term “mobile marketing” generically describes marketing interactions withan individual through the technologies found on their mobile device. The more technologies thatare found, the more ways there are to describe “mobile marketing.Mobile AdvertisingThis category itself can be subdivided many times. Simply stated, mobile ads fall into a couple ofcategories: mobile banners and mobile search. Each is a spinoff of the established online adchannels, with virtually the same roster of ad partners creating alternatives for consumersbrowsing and searching the Internet through their mobile browser.Additionally, ads are often placed in popular apps simply because this is where eyeballscan be found in a highly interactive and controlled environment.
  7. 7. Ooh marketing:Out-of-home marketing (or outdoor advertising) is made up of more than 100 differentformats, totaling $6.99 billion in annual revenues in 2008 in the USA.Outdoor advertising isessentially any type of advertising that reaches the consumer while he or she is outside thehome. This is in contrast with broadcast, print, and Internet advertising.Out of home advertising, therefore, is focused on marketing to consumers when they are "onthe go" in public places, in transit, waiting (such as in a medical office), and/or in specificcommercial locations (such as in a retail venue). Outdoor advertising formats fall into fourmain categories: billboards, street furniture, transit, and alternative.Digital out-of-home refers to dynamic media distributed across placed-based networks invenues including but not limited to cafes, bars, restaurants, health clubs, colleges, arenas, gasstations and public spaces. DOOH networks typically feature independently addressablescreens, kiosks, jukeboxes and/or jumbotrons. DOOH media benefits location owners andadvertisers alike in being able to engage customers and/or audiences and extend the reach andeffectiveness of marketing messages. It is also referred to as Digital Signage.What does traditional marketing include?Traditional marketing is everything you have seen done in the past, above and below the line. It is the televisionads, business cards, the print ads in the newspaper, promotions, brochures, posters and radio. It relies ontechnology we have had for some time, and while this technology is gradually becoming less popular, there arecertain parts of your audience who will always prefer it! In general, while traditional marketing intends to provokea response (this is its core purpose), largely, it does not offer the opportunity to be interactive and can be difficultto measure. How do you know how many people read your ad, saw your billboard, or watched television for thatspecific 30 second slot?What does digital marketing encompass?This is a difficult question to answer, because right now digital media is evolving rapidly and what it currentlyencompasses, and what it could encompass in just a week could be markedly different – the possibilities areendless! Right now, if you’re exploring digital marketing, you are looking at everything from your company’swebsite, through to banner ads (even moving videos) on sites relevant to your audience, rankings in searchengines, mentions in social media, and company-owned social media pages, videos on the likes of YouTube, anda myriad of other media. The most exciting aspect of digital media is the majority of it is completely interactive.With web 2.0 came the opportunity to provide your feedback and input on everything, to chat live to a consultantonline, and to create an avatar that lives in a make-believe computer world. As web expands and evolves,interactivity is only increasing. What this means for your marketing, is that in some respects you are losing control– you can’t control everything consumers say about your brand. So increasingly, we are becoming more andmore accountable for our businesses – essentially, if we make a brand promise, but don’t deliver on the front line,people will know!How will this impact my marketing strategy?The most you can know at this point is your marketing strategy needs to reflect both traditional and digitalmarketing tactics. It is still very important to maintain an element of face-to-face communication, to leave abusiness card, and to take advantage of publications that specifically target your audience and capture a strongreadership.
  8. 8. At the same time, a business that does not have a strong website, will not survive. If you don’t understand theneed for some sort of social media interaction and you don’t believe in online advertising, you will be left behind.While getting
  9. 9. Difference between Traditional Marketing, DigitalMarketing, Social Media Marketing

×