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Internet and Marketing
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Internet and Marketing
The internet has modernized almost every face of personal life and the business world. The 21st century is marked with a far-reaching revolution; people's life spins around social networking sites where everything is being shared including purchasing choices and preferences. Mobile computers and hand-held devices have replaced computers and every task is performed through small devices referred to as mobile phones. The most disruptive technology among all is social media that is an opportunity as well a challenge to businesses. Purchase decisions these in the age of the internet relies on reviews from others generally shared on social media and online blogs, and review forums. Consumer expectations from the products, services and brands have also changed. Consequently, businesses have shifted their focus from traditional ways to the online means; marketing function now heavily relies on internet and social media. Thus, marketers have to reach out to potential customers via means they trust and seek information. Marketers realize the internet as the potential source of developing and enhancing productive relationships with their customers (Negri, 2016). The only choice marketers have, these days, is how to utilize social media and modern web-based technologies for business development and customer retention.
Traditional marketing is now insufficient, as internet and social media have become the ultimate source of information. One of the significant impacts is the drastic change in the cost of marketing operations. Another major advantage is no limitation of geographical boundaries and ease in target marketing. Marketing these days is based on engaging content on the internet that not only attracts customers but also enhances their knowledge (Harden, & Heyman, 2009). The Internet has resulted in a whole new level of opportunities for affiliate marketing and promotion. “Word of mouth” marketing technique is essential in the age of social media marketing where consumer decision relies on reviews. In addition, marketing in the age of internet spins around consumer involvement and like, share and comment materials. ‘Buzz’ words and ‘hashtags’ allow reaching a huge audience quickly and to spread the content like wildfire. Marketing campaigns are driven by ‘hashtags’ that spread information to the target audience resulting in increased sales and enhanced business performance. Another significant change is all-time 24/7 availability to customers, this results in quick problem solving for customers.
Modern marketing is not restricted to online blogs and social media but leverages Artificial intelligence-based marketing solutions using customer data to obtain information about customer intentions and design the right strategy accordingly. The evolution of big data, machine learning and business solutions have transformed the marketing strategies. Big data allows leveraging customers' data to know about their choices, preferences and to deliver what they seek. Machine learning helps marketers identifying market trends and understands the potential actions of customers. AI understands humans like humans and allows marketers to target customers based on audience analytics (Molenaar, 2013). It allows for an intelligent search of information, targeted marketing, and smarter ads that has drastically improved customer acquisition and retention. These technologies enable a marketer to obtain insights about customers like never before. The shift in marketing with the advent of the internet is very deep, from one-way communication to a conversation with customers and from interruption to interaction; the marketing function of businesses is completely transformed.
Thus, in the age of internet marketers are not only available for their customers all the time, and are able to meet customer demands of digital responsiveness. The digital marketing tools and modern technology allow marketers to stay relevant and unique to their customers which eventually produce favorable results in terms of long-term customer loyalty. Opportunities are higher than ever before. This does not mean marketing theories are but integrate modern tools such as AI, big data and machine learning to obtain better results.
References
Harden, L., & Heyman, B. (2009). Digital engagement: Internet marketing that captures customers and builds intense brand loyalty. AMACOM Div American Mgmt Assn.
Negri, F. (2016). Retail and Social Media Marketing: Innovation in the Relationship between Retailers and Consumers. In Social Media and Networking: Concepts, Methodologies, Tools, and Applications (pp. 1671-1693). IGI Global.
Molenaar, C. (2013). E-Marketing: Applications of information technology and the internet within marketing. Routledge.
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