Principles Of Internet Marketing
Transcript of Principles Of Internet Marketing
“… identifying, understanding, collaboratively creating, and meeting a segment of human and social needs, wants, desires, wishes digitally.”
Dialogue
One-to-one marketing
Real-time Dynamic
Collaborative
Segmented
Rich customer interaction
Rich customer data
Create new sources of competitive advantageMore direct distribution modelReengineer the supply chainInvent new business modelsTarget underserved segmentsLower price barrierNew delivery methods to reduce capital
expenditure and pricingCreate more efficient marketplaceCreate a “virtuous cycle”
Reduce the risk of guessing by letting the community define the need, want, problem, and value proposition
Speed development cyclesCreate precise features / valueCreate brand advocatesCommunity endorsement
Community and feedback loop integral part of shaping product
Sell your idea firstFind your actors (audience) firstSize does not matter Reduce risk by pushing control outValue creation increases at the edgeDecentralize authority and processTransparency creates valueTruth travels fastPrice alone is not sustainableReengineer your value chain
Skip intermediaries wherever possibleReinvent your business models Change the status quo
Product / service strategy Shared risk through open collaboration
Place (channel) Actors & marketspace Agents
Pricing Hypercompetitive Convert traffic to advertisement revenue
Promotion Community
Customer support 24 x 7 Virtual FAQ, forums, electronic
Almost no feedback loop. Higher risk of innovation and guessing market.
Democratization of 4Ps paradigm Citizen Branding Collective collaboration Collective risk sharing Collective product innovation
Citizen marketers will sell “remarkable” ideasWork backwards
Build your brand around your idea first. If the community you are targeting does not coalesce and rally around the idea, continuing to build the product is irrelevant.
Create your own “blue ocean” If you play it safe and go by rules of your industry, value
chain, and business model – you’re dead! Most industries and markets are saturated and highly
concentrated
Capturing customer interaction creates tremendous value and reduces risk.
New mediums for communicating information virally among your actors.
What does a virus have to do with marketing?
Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message's exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions.
How to sell a soap