Adding customer value and increasing profit through E-marketing
In this age of internet there has been a drastic change in doing the business. E-marketing is gaining popularity increasingly and its adoption is being embraced by the use of SEO services, social media, email marketing, and responsive websites. With e-marketing, the customer services have been improved as the business can easily connect with the customers through social media platforms (Sashi, 2012). Organizations are using the technology of social media well by focusing on the well being and happiness of their customers. It does so by monitoring social media networks such as Twitter, Facebook and many others so that the problems related to customer care can be turned into opportunities and the customers can be impressed by the speedy response of the organization. The digital exchange of information helps in building relationships with customers by identifying their real needs.Any changes in the price of the product is explained and the message is delivered to the customers through digital channels. The website of the company helps in monitoring what the customers are looking for. On the basis of this, the customers are then interacted through social media or email which helps in building relationships with the customers by specifically addressing their personal needs. The digital marketing tools enable the organization to engage more often with customers and in a better way. The online presence of the organization enables it to showcase the business through social media platforms and websites (Andzulis, Panagopoulos, Rapp, 2012). With billions of active users of the internet it becomes easy for the organization to reach more number of people which in turn increase the profit of the business. The paid promotion is the strongest and easiest way by which any business can get visibility on the internet. Facebook and Instagram Ads are examples of paid promotions which are helpful in product promotion and increase the revenue as it addresses the large number of audience across the world. More revenue can be generated since it attracts the international audience as well. Facebook on average has 556 million active users per day. This strength of active users shows the power of the digital marketing and therefore more revenue can be generated through this platform by advertising the product and converting the active users into potential customers.
The customers in this digital era including the existing customers conduct an online research before making any purchase. The information related to sellers and channels of sales is easily accessible to the consumers through the internet (Cao and Li, 2015). This access allows consumers to get the information related to services, prices, and products available from different sources. Many of the consumers find this information to be overwhelming as they can compare and choose from the best products and services suitable to them. Manufacturer and supplier websites, discussion forums, comparison website, and advertisements are some of the methods used by the consumers to identify the services and products relevant to them. Websites for price comparison and recommendations from friends and other consumers via social media and review sites are also considered as important information sources. The issue related to which information shall be trusted or not is particularly important for the customers in the digital environment as there are more changes of fraud online rather than offline. Due to this reason, more importance is given to brand names by consumers as they can be trusted more. It is evident that decisions of the customers are framed on the basis of information available to them. On the other hand, some of the customers has low trust on the information advertised online and find it irritating whenever an ad pops in. Consumers also believe that there is a perceived risk linked with the internet use such as fraud, access gained by others to the personal information and return policies, and quality of product are the major concerns. However, advertising post sale increases the e-loyalty within consumers. Moreover, transparent policies of return and timely fulfillment of order positively impacts the thought process of the consumers in online trade. It is also believed that loyalty aids in reducing the efforts for search in purchases of future (Li, and Karahanna, 2015).The e-marketing strategy is considered to be a sub-set of strategies in the market. E-marketing has importance in identifying the goals and target groups, formulating story or message, and choosing the channels of media. It is important for the organization to understand the need of e-marketing strategy in their business before planning any e-marketing strategy (Theodosio, Kehagias, and Katsikea, 2012). The managers should know whether e-marketing is beneficial for the business or not and how it will be formulated. There are other things as well which shall be considered while planning an e-marketing strategy such as deciding the people who will be held responsible for developing the e-marketing strategy and deploying tools and services for e-marketing.
It is important to understand the what, why, and how of the e-marketing so that its benefits can be outlined. E-marketing is beneficial is usually beneficial for the organizations in increasing their marketing speed as more audience can be marketed in lesser time through e-marketing. E-marketing strategy includes creating an information loop for the consumers which contains details of the products and services offered by the organization. E-marketing strategies can be developed by taking into account customer relationship management, organization’s website, and contextual advertising. CRM aids in maintaining the marketing and sales data and its main purpose is to improve and empower customer relationships (Armstrong, Adam, Denize, and Kotler, 2014). The vision for the marketing is shared with the website and customers are interacted and communicated through it. Advertising decides what information is required to be delivered to the consumers for a specified period of time. The e-marking strategy also includes e-marketing mix which is equal to the marketing as both are fundamentally same. The only difference is that it is the adaption of product, price, promotion, and place in context of digital marketing. However, physical processes, people, and evidence can be included in the digital promotion mix.
Product: Research plays a major role when the organization has to decide which product shall be introduced in the market. With the use of smart phones and computers research can be conducted more effectively. The opinions of the people can be easily addressed with the use of technology. Graphs and statistics available online can be used to identify the demand for a particular product and the same can be manufactured without wasting much effort and time (Deuze, 2013).
Price: The identification of real cost and cost comparison has become easy with the use of digital information. This can be beneficial for the organization to decide the price of their product. It is imperative that the price of the product should not be much lower or higher than its competitors.
Place: The internet could be really helpful in getting the knowledge about the routes through which the products can be delivered to the customers. The town, places, cities, and countries where the product shall be placed could also be identified through internet. People located at different places have different preferences the right place can be easily decided according to the type of product.
Promotion: Digital marketing is known to be the best option for promoting the products. Platforms of social media can be used by the organization to create awareness among the people about the products and services. The attention of potential customers can also gained by involving them in different contests held online.
References
Andzulis, J.M., Panagopoulos, N.G. and Rapp, A. (2012). A review of social media and implications for the sales process. Journal of Personal Selling & Sales Management, 32(3), 305-316.
Armstrong, G., Adam, S., Denize, S. and Kotler, P. (2014). Principles of marketing. Australia: Pearson.
Cao, L. and Li, L. (2015). The impact of cross-channel integration on retailers’ sales growth. Journal of Retailing, 91(2), 198-216.
Deuze, M. (2013). Media work. USA: John Wiley & Sons.
Li, S.S. and Karahanna, E. (2015). Online recommendation systems in a B2C E-commerce context: a review and future directions. Journal of the Association for Information Systems, 16(2), 72.
Sashi, C.M. (2012). Customer engagement, buyer-seller relationships, and social media. Management decision, 50(2), 253-272.
Theodosiou, M., Kehagias, J. and Katsikea, E. (2012). Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations. Industrial Marketing Management, 41(7), 1058-1070.
E- Marketing and Business Models (2018). E- Marketing Mix. Retrieved from: https://Emarketingandbusinessmodels.Ml/E-Marketing-Mix/
E- Marketing and Business Models (2018). Behaviour Of Consumers In Online Environment And E-Marketing Strategy. Retrieved from: https://emarketingandbusinessmodels.ml/behavior-of-consumers-in-online-environment-and-e-marketing-strategy/ :
E- Marketing and Business Models (2018). Adding Customer Value And Increasing Profit Through E-Marketing. Retrieved from: https://emarketingandbusinessmodels.ml/adding-customer-value-and-increasing-profit-through-e-marketing/
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