Online Marketing
Online Marketing
Definition -
What does Online Marketing mean?
Online
marketing is a set of tools and methodologies used for promoting products and
services through the internet. Online marketing includes a wider range of
marketing elements than traditional business marketing due to the extra
channels and marketing mechanisms available on the internet.
Online marketing can deliver benefits such as:
ü Reduced
expenses
ü Competitive
advantage
ü Growth
in potential
ü Improved
customer service
ü Better
control
ü Elegant
communications
Online marketing is also known as internet marketing, web
marketing, digital marketing and search engine marketing (SEM).
Techopedia
explains Online Marketing
The broad online marketing spectrum varies according to business
requirements. Effective online marketing programs leverage consumer data and
customer relationship management (CRM) systems. Online marketing connects
organizations with qualified potential customers and takes business development
to a much higher level than traditional marketing.
Online marketing combines the internet's creative and technical
tools, including design, development, sales and advertising, while focusing on
the following primary business models:
ü Affiliate marketing
ü Lead-based websites
ü Affiliate marketing
ü Local search
Online marketing has several advantages, including:
ü Low
costs: Large audiences are reachable at a fraction of traditional advertising
budgets, allowing businesses to create appealing consumer ads.
ü Flexibility
and convenience: Consumers may research and purchase products and services at
their leisure.
ü Analytics:
Efficient statistical results are facilitated without extra costs.
ü Multiple
options: Advertising tools include pay-per-click advertising, email marketing
and local search integration (like Google Maps).
ü Demographic
targeting: Consumers can be demographically targeted much more effectively in
an online rather than an offline process.
The main limitation of online marketing is the lack of tangibility,
which means that consumers are unable to try out, or try on items they might
wish to purchase. Generous return policies are the main way to circumvent such
buyer apprehension.
Online marketing has outsold traditional advertising in recent
years and continues to be a high-growth industry.
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