The Anatomy Of Internet Marketing – Make Money Online basics.
Internet marketing has been getting a lot of attention lately. This is because companies have realized the huge potential of online marketing that is as a result of increasing penetration of the internet. Also, companies get to use two simple internet marketing strategies of communication;
- One-To-Many Communication e.g. use of Facebook and Twitter.
- One-To-One Communication e.g. use of directed emails.
The use of the internet as a medium of marketing has experienced tremendous success due to the many advantages it offers over other forms of marketing. Let’s explore some of them.
Advantages of Online Marketing
- You get to establish a presence at a relatively low cost.
- The internet serves as a transaction medium. It can also serve as a channel for distribution of goods.
- It significantly reduces the cost of searching and distributing information.
- Its interactive nature can serve as a basis for building customer relationship.
- The attractive visual experience it offers, such as videos and 3D images, makes online marketing easier.
The beauty of internet marketing extends beyond the negligible marginal cost per new customer reached, there is also the conversion rate. Conversion rate simply refers to a number of customers that purchased a particular product or used a particular service, after seeing it on the internet. In order to enjoy a high conversion rate, marketers have to implement effective internet marketing strategies.
Effective Internet Marketing Strategies
- Search engine optimization (SEO).
- Different options for payment are offered to visitors.
- Marketers use tools such as real-time product tracking, promotional scheme, new product’s launch, etc. to keep users informed and keep their products trendy.
- In addition, they use upselling, cross-selling, and other implements, to increase the value per visit.
You should note that online marketing is not suited for every product or company, in spite of its many benefits. A disadvantage of this marketing medium is the discrimination against lower middle class and poor consumers, whose access to the internet is minimal. Finally, there is so much information available through internet marketing, that they are sometimes contradictory. This can be frustrating, and at the same time confusing to consumers.
The Four Waves of Internet Marketing Business
Online marketing guru, Dan Andrews categorized internet marketing business into four waves. He, however, noted that the fourth wave offers more opportunities to marketers right now.
1. The First Wave
These are known as the business opportunity gurus. They are known to make highly tuned sales pitches and focus more on list building, sharing, and promotion. The first wavers preach core transformation and broad persuasion techniques. Example of marketers under this category is Frank Kern and Jeff Walker.
2. The Second Wave
The second wave of internet marketing had influential marketers such as Clay Collins. They had a lot of useful tips and motivational information to share. Their concepts were quite broad and strategic, which they shared through their seminars, training, feedback, and coaching.
They teach people how to use high-level marketing and sales technique in any business. And often brag about how their customers have gotten richer from purchasing their products.
3. The Third Wave
The third wave is the wave of transparent business. The marketers in this wave are known to share a variety of personal experiences and information. This often includes screenshots, data, income reports, and case studies of action. The third wavers use the case studies to explain online causal actions, e.g. I did this, and that happened. As such, they regularly share their wins and losses.
The main thing they sell are tools that are required to duplicate their effort. Accordingly, they are known to say things like, “I’ll show you how much money I’ve made and let you be the judge.” Influential marketers in this category include Pat Flynn and Spencer Haws.
4. The Fourth Wave
This is what Andrew called “Purchase a Cash Flowing Business”. The fourth wave is characterized by the sales of simple cash flowing business to interested investors and business owners. Not only do they sell, they also provide enough information and a large community to the buyer. This can help improve the profitability of the business and scale of the acquired property.
Fourth wavers such as Adsenseflippers, teach the precise action required to build a cash flow business and sell models of that cash flow business.
Using the internet as a marketing channel has as many disadvantages as its advantages. The right business practices for the optimal utilization of the internet are still lagging. Internet marketers still have to break through organizational boundaries to connect with customers.