Internet Marketing Mix
The same marketing principles applies to internet marketing. The traditional 4P of marketing - product, price, place and promotion are also used in internet marketing. I think a lot of people who has just ventured into internet marketing do not realize this. The tools and distribution channels are different, as is the advertising media. Execution on the internet happens faster and is more efficient. But the principles remain the same.
Product. As an internet marketer, you need to find your ideal product or service to promote. The products or services should not only convert well, it should be something the internet marketer is passionate about. Remember when you used to have an off-line job? I bet you talked about your work a lot of the time. I enjoyed my work, it’s a passion of mine. We used to discuss the issues of the day for hours, because everyone wanted to be the best. If you enjoy what you do, you will go the distance. You want to see your product or service fulfill a great need your customers have. The product or service that you sell depends on your target market or niche.
Price. As entrepreneurs and businesses become increasingly aware of the effectiveness of internet marketing, competition will increase in many market niches. In terms of pricing, you can either undercut your competition, or you can develop your unique selling proposition and sell at a premium price. Obviously the second option is preferred, because of the profits the internet marketer will make. Having a unique selling proposition is a substantial competitive advantage.
Place. In internet marketing, the place in which you sell your products or services is a website. Your website is your distribution channel. In your off-line business, getting your business noticed is one of your main focus. The same holds true for your website, you need to be able to communicate with your target market effectively. One way to do this is start an Affiliate marketing program. When you do this successfully, you can have hundreds of websites promoting your products for you.
Promotion. Promotion is the activity of getting your products or services noticed. You can use pay per click advertisement or by utilizing search engine optimization. You can also put your links on other people’s website to promote your product. Your advertisement or links can be in text or in banner form. Your offer is made through your sales page, you add incentives and bonuses to entice your visitors to buy from you. To capture your visitors’ contact information, you use an auto-responder. This will enable you to communicate to your prospects for future product promotions. You can also conduct joint venture promotions with other internet marketers or business to explode your sales.
As you can see, internet marketing uses the same marketing mix as you would in your off-line business. The technology you use might be different, but the core competency of execution must still be maintained. Internet marketing does not have to be complicated, you can make it as simple as it suits your business.
One Response to “Internet Marketing Mix”
Got something to say?
BLOG PAYCHECK
TWEET MY BLOG
EMAIL PROMOS EXPOSED
[...] complain that there is a lot of hype in internet marketing. That it is easy to make money online, or how all you need to make money online is to buy a certain [...]