Wednesday, 28 September 2011

The benefits of Emarketing over traditional marketing

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.

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.

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.

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 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 organize themselves into far more focused 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.

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What is emarketing? and how is it better than traditional Marketing

Marketing has pretty much been around forever in one form or another. Since the day when humans first started trading whatever it was that they first traded, marketing was there. Marketing was the stories they used to convince other humans to trade. Humans have come a long way since then, (Well, we like to think we have) and marketing has too.

The methods of marketing have changed and improved, and we’ve become a lot more efficient at telling our stories and getting our marketing messages out there.  eMarketing is the product of the meeting between  modern communication technologies and the age-old marketing principles that humans have always applied.
That said, the specifics are reasonably complex and are best handled piece by piece. So we’ve decided to break it all down and tackle the parts one at a time. This week we’ll be looking at the “what” and “why” of eMarketing, outlining the benefits and pointing out how it differs from traditional marketing methods.

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.

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.

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Saturday, 10 September 2011

Top 12 insights for E-Business

 I’d like to share with you 12 insights of e-business. Things I wish I had known in the beginning but took time and experience to learn. Leverage the experience and use these insights to guide you as you build your own online business over the coming years and beyond!

1.Perseverance – Overall this has been the most important factor in my online success. If you’re going to succeed online, especially in the long-term, you have to stick with it. You have to try out new things, test out different methods and never give up. I’ve seen too many people give up and quit too soon. When I started out I was determined to make it, nothing was going to stop me from making an income online, and eventually I did. Even to this day I have to continually overcome obstacles, but that’s how you have to view them, and that’s all they are. I like to think of it as climbing a mountain; if you want to get to the top you have to crawl over rocks, take detours, and sometimes head back down the mountain and take another path up. If you want long-term success there’s just no way around it, you must have perseverance.

2.Think Big – A lot of people online talk about niches and seeking out small, unexploited niches. However, I’ve seen many people go into niches that are too small to replace a full-time income. Although people can and have done well with small niches. In my experience I’ve always been more successful with larger niches. I’ve always had better success when my product, service, or website has appealed to a very large audience.

3.Always Keep Learning – After you achieve some success online you begin to feel like you know it all. It’s an easy trap to fall into. However, if you can humble yourself and take the attitude that you should always be seeking out new information from others (even if they’re younger or less experienced than you) you’ll continually find yourself learning new things you didn’t know.

4.Bi-Winning – Why be an affiliate or vendor when you can be both? Like most people, I started out on ClickBank as an affiliate. Eventually I became a vendor too. I learned very quickly that not only do you diversify and stabilize your income by being both an affiliate and vendor, but you can make more money too. Being both an affiliate and vendor allows you to cross promote. You can promote your own products through your affiliate channels and you can promote affiliate products on the back-end of your own products. It also gives you the ability to make money off your competitors! For instance, whenever I get a refund on one of my products, I email that customer with a list of competitor products. And yes, they are all affiliate links.

5.Opportunity for Income– Every page of content, every affiliate link and every ad is an opportunity for income. The more opportunities for income you have, the more money you’ll make. This doesn’t mean you should fill up your blog with as many affiliate links and ads as you can, it means you should create more blogs, more products, more services and more content, etc. Most of these methods are low maintenance once they’re set up, so you should strive to create as many opportunities for income as you can.

6.Fill in the Gaps – As you create more opportunities for income, you should also be filling in all the gaps for income in your current sales process. If you have a product you should be offering up-sells, setting up cross-sells with other vendors, and offering additional items for sale on your thank-you page. If you’re an affiliate you should be following up with customers that purchase through your site, using auto-responders to follow up with prospects, and up-selling wherever you have the opportunity. Filling in all the gaps was something I neglected for years but once I started doing it my income increased immediately.

7.Don’t Take it Personally – Early in my Internet marketing career I was very defensive. I would get into long email battles with people I didn’t even know! Looking back it was such a waste of time and my productivity suffered. What I’ve learned is that no matter how good of a job you do, no matter how much you try to help someone, there will always be negative people out there that will tear you down, criticize you, and try to sabotage your success. It’s not worth your time wasting it on these types of people. Whether someone leaves a nasty comment on your blog, sends you an email rant, or makes rude comments in a forum, just ignore them. Sometimes people are looking for a fight, do yourself a favor by not giving them what they want and don’t take it personally.

8.Let Others Do the Work– Your only limited resource in your online business is time. The only way to have more time is to do less of something else. There’s no other way. Delegating work through outsourcing or hiring employees will be the only way to eventually grow your business. Start outsourcing anything you can have others do, such as graphic design, blog installation, programming, etc. Outsourcing is cheap, effective, and leverages your time so you can do other things. It may be a struggle for you to delegate work you know you can do best, but it’s something you’ll need to overcome if you want to take your business to its highest potential.

9.Ditch Your Inner Introvert– Working at home on the computer all day can definitely make you an introvert. One huge mistake I made for years was not reaching out and meeting other Internet marketers. Once I started getting out of my office and going to conferences and events everything changed. I made connections with like-minded marketers, learned more than I had in years, and made fantastic friends as well. Internet marketing is a people business and people are your most valuable resource. Get out from behind the PC and get social, you never know what connections you will make and how it may improve your business and life as well.

10.Automate – When I first started marketing online I used to email all my customers their download information manually. Yes, each time I made a sale I rushed to send an email to them with their download link as fast as I could. Eventually I discovered automated ways of doing this as well as many other tasks that saved me countless hours. The great power of the Internet lies in being able to let technology do the work for you. Many things can be done automatically, such as backing up your websites, customer follow-up, posting content to you website, and so much more. Whenever you find yourself doing any kind of repetitive task look to see if it can be automated in some way. Chances are it can.

11.Test For Success – I never ran an official split-test for probably the first 7 or 8 years I was marketing online. Mostly because it wasn’t easy to setup like it is now, but also because I was just lazy. After running numerous split-tests over the last 5 years, I’ve realized I must have left loads of money on the table by not split-testing. Split-testing gives you instant results to improve your website and it will provide you with definitive answers as to which versions to keep and which to get rid of. Just about every successful marketer I know split-tests and it’s available to anyone for free using Google Website Optimizer.

12.It’s No Secret – When I first started out with ClickBank I was convinced I had to either have some original amazing idea or know some secret marketing technique or loophole to make a lot of money. Eventually I realized none of that was true. You don’t have to promote the perfect ClickBank product
, you don’t have to know special affiliate secrets and you don’t need a huge marketing budget to be successful. One thing I’ve seen over and over again is that taking consistent action leads to results and over time leads to success. There’s really no secret. I think Lyle Lovett says it best… “It’s funny, but the biggest secret to success is that those at the top just seem to work the hardest. The reason it’s a secret is because nobody wants to believe it.”