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E-business contribution to marketing (New media marketing: 6 Is…
E-business contribution to marketing
E-marketing plan
'single key objective'
online revenue contribution
'measure of the extent to which a company's online presence directly impacts on the sales revenue of the organisation'
online revenue contribution objectives depends on
product/service they offer
market sector they are in
digital channel they want to exploit
e.g. internet, mobile telephony, interactive television
New media marketing: 6 Is
Interactivity
old media
simply pushing a message
'broadcast' way of marketing
new media
interact with company inline
push media vs pull media
possibility for new interactions opens up new marketing opportuniies
but also introduces new problems
marketers have less control
not everything online is 'pulled'
e.g. email
Intelligence
new ways of collecting customer data
preferences and perceptions
need not rely on market research
new ways to understand market segments
in more detail
e.g. software to track customer's progress around a website
behaviour profiling
raises ethical questions
Individualisation
personalisation and customisation
e.g. Amazon
famous for its highly customised recommendation system
Integration
enables integration of various marketing communications
complements other marketing channels for product recommendation
integrating online offering with offline operations and customer loyalty schemes
use CRM techniques to increase sales
Industry restructuring
due to disintemediation and re-intermediation
consider how to represent company's brand and products
among various intermediaries
Independence of location
increase reach of companies and communications
review relationships with local agents
affected by the globalisation of marketing efforts
Personalisation and mass customisation
Personalisation
individualisation of content
Negative side
costly
dynamic content require database integration and specialised software
users must log-in
to enjoy personalised content
may forget password
new users often put off having to register
Mass customisation
tailoring marketing content at the group level
Search engine optimisation
search engines
gatekeepers to most information online
use certain keywords
rely on algorithms to decide relevance of webpages
analyse frequency and positioning of phrases on web page
prevent spamming of result listing
whilst marketers
improve their search results
no one looks beyond first 10-20 search results
seek to improve position in result listing
Online advertising
in form of 'banner' or 'pop-up' adverts
sites with large no. of visitors
or enough visitors from a specific marketing segment / niche
few advertisers will be interested
novelty wore off
click rates fell from 2%in mid 1990s
to 0.3% in mid 200s
Google's Adwords
'the world's most valuable online advertising agency masquerading as a search engine'
Advertisers bid to appear on screens of info retrieved
based on keyword search
payment based on 'pay per click'
foucsed advertising
more likely to lead to a sale
provides sales opportunities
where the consumer has indicated intention to buy
by clicking twice
2015 Advertising makes up 97% of Google's revenue
$72billion
2017 internet advertising spending twice of tv ad spending
Viral Marketing
relies on pre-existing social network
increase brand awareness or sales
through self-replicating viral processes
marketing content to spread from user to user
relies on users to do the work
many viral marketing campaigns
supplemented with other forms of marketing
risk brand being damaged if unsolicited messages run amuck
Multi-channel integration
using offline and online channels