Internet Marketing News Analysis
Source:http://www.emarketer.com/Article.aspx?id=1006262&src=dp1_home
Men and woman differ on Social Networks
Author: Unknown
Date: May 7, 2008
What I learned: This article is about social networks and the fact that they differ in usage between woman and men. The article states that women generally have more friends opposed to men and that they spend more time on-line nurturing and building relationships where as men are more focused on acquiring relationships.
Reflections:
Chapter 14, The wireless and Convergence is about how the internet has become a key element in todays marketing strategies and it looks as though it is here to stay. When the internet burst into the publics eye in 1996, the consumer adaption rate went through the roof. Consumer adaption is the process in which consumers go through when they are confronted with a new product. Products with high components of technology usually require the customers undergo a substantial amount of learning to operate the new item, as did the internet. Because the learning process of the Internet was successful, people integrated it to become a part of their everyday lives. We are yet to see a slow down of the learning and capabilities of this mighty system.
Technology is taking over our lives in many ways. I couldnt believe when I read about the parking meters that not only call you when your times about to expire, but also have the option of adding monies to the meter. I must agree with the tourists that have deemed this a improvement in the parking experience, especially in the bigger cities where parking is usually a problem. As the book states, " Marketers must be prepared to to meet customer needs for content wherever and whenever they need it.", especially as the mobile environment places more and more stress on marketing systems.
Adaption of new technologies catch on differently in different markets. Because of many reasons Third-generation systems have caught on quicker in countries such as Japan, Korea, China India and even Europe. Some of this is because some cultural environments just have a unusually receptive mind set towards new technology. Another is the fact that a lot of these countries have compact geographic areas with very dense populations. Yet another reason is the way that we as Americans have adopted to the wired internet and are content with the fact that we have easy enough access to it. Although we differ from country to country, it is clear to all of us that we will be seeing more and more technology at use in our everyday lives.
Wednesday, May 7, 2008
Saturday, May 3, 2008
Chapter 13 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis:
Source:http://www.emarketer.com/Article.aspx?id=1006250&src=article1_home
Where is Ad spending headed?
Author: Unknown
Date: May 2, 2008
What I learned: Thisarticle talks about how the economic slow down and how it will effect media spending in the future. In 2008 we are seeing a growth in spending, especially T.V. media, and is due to the election and the Olympics this year. Another few reasons that spending seems to be behind the economic stress is the facts that, budgets for advertising is usually set aside in advance, companies don't want to decrease marketing until it is very clear that the consumer spending has made cut-backs, and also companies don't usually alter their ad budgets until they have seen decreased revenues. It is predicted that the total spending in the U.S. in 2009 will grow up to $300 billion regardless of the economy due to the rapid growth of on-line advertising and spending.
Reflections: Chapter 13, Leveraging the Market Knowledge asset, talks about the success of marketing programs and how they have become an essential part of todays business environment. Part of creating programs in todays fast paced world is knowledge management. Knowledge Management helps to deliver information to customer service personnel and decision makers to help ensure that the customer service experience is delivered seamlessly. This requires taking huge amounts of data and combining it into a program that is usable and can simulate the best of the customer service workers.
Explicit knowledge exists in most corporate material. In order to develop a knowledge based marketing system, it is essential to use profiles and the correct data. To do so, you must first locate the relevant material and then to incorporate it into the correct format. Although challenging, it is a well understood task, and the better the qualitative information, the better the results.
The first step in constructing a system is to collect tacit knowledge directly from people who posses it and to incorporate it into the system. It is time consuming and costly. Some parts of the system are not visible and are not part of the workers expertise and some of the information they do posses may just be hard to describe it well enough to be interpreted in a meaningful way.
Source:http://www.emarketer.com/Article.aspx?id=1006250&src=article1_home
Where is Ad spending headed?
Author: Unknown
Date: May 2, 2008
What I learned: Thisarticle talks about how the economic slow down and how it will effect media spending in the future. In 2008 we are seeing a growth in spending, especially T.V. media, and is due to the election and the Olympics this year. Another few reasons that spending seems to be behind the economic stress is the facts that, budgets for advertising is usually set aside in advance, companies don't want to decrease marketing until it is very clear that the consumer spending has made cut-backs, and also companies don't usually alter their ad budgets until they have seen decreased revenues. It is predicted that the total spending in the U.S. in 2009 will grow up to $300 billion regardless of the economy due to the rapid growth of on-line advertising and spending.
Reflections: Chapter 13, Leveraging the Market Knowledge asset, talks about the success of marketing programs and how they have become an essential part of todays business environment. Part of creating programs in todays fast paced world is knowledge management. Knowledge Management helps to deliver information to customer service personnel and decision makers to help ensure that the customer service experience is delivered seamlessly. This requires taking huge amounts of data and combining it into a program that is usable and can simulate the best of the customer service workers.
Explicit knowledge exists in most corporate material. In order to develop a knowledge based marketing system, it is essential to use profiles and the correct data. To do so, you must first locate the relevant material and then to incorporate it into the correct format. Although challenging, it is a well understood task, and the better the qualitative information, the better the results.
The first step in constructing a system is to collect tacit knowledge directly from people who posses it and to incorporate it into the system. It is time consuming and costly. Some parts of the system are not visible and are not part of the workers expertise and some of the information they do posses may just be hard to describe it well enough to be interpreted in a meaningful way.
Saturday, April 26, 2008
Chapter 12 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis:
Source: http://www.emarketer.com/Article.aspx?id=1006198&src=article_head_sitesearch
E-Mail Marketing still works
Author: Unknown
Date: April 21, 2008
What I learned: This article talks about how permission based marketing is working. The articles says that e-mail is second only to customer reviews when it comes to influencing on-line purchases. On the other hand, about 1/3 of this studies participants had stopped doing business with at least one company because of their poor e-mail marketing practices. Most consumers only want to receive messages that are only relevant to them and there seems to be a big gap in what consumers and marketers feel to be. Once again it puts spammers in a negative light as they seem to ruin it for everyone by just pushing mass mailings that lack content pertaining to the recipient. This corresponds with chapter 12 in the way that consumers are not always trusting of actions preformed on the internet due to things that have gone on in the past.
Reflections: Chapter 12, Social and regulatory Issues, talks about trust between the internet marketers and the internet's users. The lack of trust on the internet does add up. the book says that 43% of internet users have used filters to block emails that were considered un-wanted and 84% of users have refused to give out their information on a web site because they felt as though it were too personal and unnecessary. The fact that people are willing to take such precautions to protect their information could hinder the efforts of marketers. They are realizing this and becoming more and more concerned.
Source: http://www.emarketer.com/Article.aspx?id=1006198&src=article_head_sitesearch
E-Mail Marketing still works
Author: Unknown
Date: April 21, 2008
What I learned: This article talks about how permission based marketing is working. The articles says that e-mail is second only to customer reviews when it comes to influencing on-line purchases. On the other hand, about 1/3 of this studies participants had stopped doing business with at least one company because of their poor e-mail marketing practices. Most consumers only want to receive messages that are only relevant to them and there seems to be a big gap in what consumers and marketers feel to be. Once again it puts spammers in a negative light as they seem to ruin it for everyone by just pushing mass mailings that lack content pertaining to the recipient. This corresponds with chapter 12 in the way that consumers are not always trusting of actions preformed on the internet due to things that have gone on in the past.
Reflections: Chapter 12, Social and regulatory Issues, talks about trust between the internet marketers and the internet's users. The lack of trust on the internet does add up. the book says that 43% of internet users have used filters to block emails that were considered un-wanted and 84% of users have refused to give out their information on a web site because they felt as though it were too personal and unnecessary. The fact that people are willing to take such precautions to protect their information could hinder the efforts of marketers. They are realizing this and becoming more and more concerned.
Friday, April 18, 2008
Chapter 11 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis
Source:http://www.emarketer.com/Article.aspx?id=1006193&src=article1_home
On-line Banking is old News. Hello Mobile
Author unknown
April 18, 2008
What I learned:
This article is about the use of cell phones in connection with banking. In the past, cell phones have not been popular with consumers when it came to banking for a few issues, the most important being that cell phones get lost, and consumers didn't want just anyone to have access to their account information. Bankers are now finding that more and more people want to be able to do simple things with their cell phones, such as checking account balances. It is said that by making it simple, mobile banking is to move beyond the early adopter crowd. 61% of todays users would like to be able to check their balances via text message, while 57% want to be able to do it with their internet browsers. Banks are predicting by offering such services, it will strengthen customer loyalty.
Analysis:
This relates directly to the chapter 11 readings in the sense that Marketers need to know how to most effectively use their web sites and stay up to date with what new data is available, and what metrics are needed and how to obtain them.
Reflections:
Chapter 11 is about the fact that marketers need to know what data is available, what metrics are needed and how to obtain them in order to best market their products. In order to determine effectiveness and clarity of an ad, marketers use many techniques, one of them being usability testing. Usability testing is is not considered non conventional marketing research and is exclusively designed to see if the site works in a user friendly fashion. It goes hand in hand with quality assurance and is divided into three categories, concept, prototype and full testing. There are different methods to this technique and as everything in marketing research, the techniques have their advantages and disadvantages.
The Pareto curve is a technique used to show 75% of a sites usability problems in as little as 2 days. It is said that eliminating or skimping on usability testing is a false economy and is essential part of launching any web-site. It can be done throughout the stages of construction on a web-site, however the later in development, the more cost that may incur as changes may become harder to make. Many site creators believe that it should be regarded as an integral part of the development process to ensure that the site has an enjoyable and satisfying visitor experience. It is important at the point of the sites launch to be able to measure attainment of the pages communication and business objectives.
An important measure of the business effectiveness of a site is to measure the number and quality of its visitors. It is an essential way to make improvements and establish advertising rates. Traffic data is usually obtained by measuring activity on the web-site as well as looking at the behavior of those visitors. Hit counters are popular in doing this, and they count the number of visits to the site with a small piece of software inserted into a web site. Coded web pages are another technique and uses a cookie like device that returns an image about the users activity on the page.
However obtained, good internet metrics is essential to devoloping a sucessful web-site. There is almost infanite amounts of data to be obtained and tons of methodologies that are yet to be developed in doing so. Although very complex, methods are becoming more and more useful in determining traffic, audience and campaign metrics all the time. To marketers, it is a must to pursue this though as it seems to be the feature of marketing everywhere.
Source:http://www.emarketer.com/Article.aspx?id=1006193&src=article1_home
On-line Banking is old News. Hello Mobile
Author unknown
April 18, 2008
What I learned:
This article is about the use of cell phones in connection with banking. In the past, cell phones have not been popular with consumers when it came to banking for a few issues, the most important being that cell phones get lost, and consumers didn't want just anyone to have access to their account information. Bankers are now finding that more and more people want to be able to do simple things with their cell phones, such as checking account balances. It is said that by making it simple, mobile banking is to move beyond the early adopter crowd. 61% of todays users would like to be able to check their balances via text message, while 57% want to be able to do it with their internet browsers. Banks are predicting by offering such services, it will strengthen customer loyalty.
Analysis:
This relates directly to the chapter 11 readings in the sense that Marketers need to know how to most effectively use their web sites and stay up to date with what new data is available, and what metrics are needed and how to obtain them.
Reflections:
Chapter 11 is about the fact that marketers need to know what data is available, what metrics are needed and how to obtain them in order to best market their products. In order to determine effectiveness and clarity of an ad, marketers use many techniques, one of them being usability testing. Usability testing is is not considered non conventional marketing research and is exclusively designed to see if the site works in a user friendly fashion. It goes hand in hand with quality assurance and is divided into three categories, concept, prototype and full testing. There are different methods to this technique and as everything in marketing research, the techniques have their advantages and disadvantages.
The Pareto curve is a technique used to show 75% of a sites usability problems in as little as 2 days. It is said that eliminating or skimping on usability testing is a false economy and is essential part of launching any web-site. It can be done throughout the stages of construction on a web-site, however the later in development, the more cost that may incur as changes may become harder to make. Many site creators believe that it should be regarded as an integral part of the development process to ensure that the site has an enjoyable and satisfying visitor experience. It is important at the point of the sites launch to be able to measure attainment of the pages communication and business objectives.
An important measure of the business effectiveness of a site is to measure the number and quality of its visitors. It is an essential way to make improvements and establish advertising rates. Traffic data is usually obtained by measuring activity on the web-site as well as looking at the behavior of those visitors. Hit counters are popular in doing this, and they count the number of visits to the site with a small piece of software inserted into a web site. Coded web pages are another technique and uses a cookie like device that returns an image about the users activity on the page.
However obtained, good internet metrics is essential to devoloping a sucessful web-site. There is almost infanite amounts of data to be obtained and tons of methodologies that are yet to be developed in doing so. Although very complex, methods are becoming more and more useful in determining traffic, audience and campaign metrics all the time. To marketers, it is a must to pursue this though as it seems to be the feature of marketing everywhere.
Friday, April 11, 2008
Chapter 10 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis
Source:http://www.internetretailer.com/dailyNews.asp?id=26029
What I learned:
This article is about a company called aCemo that has spent the last two years collecting anonymous data from about 140 million on-line customers and 375 retail sites. With this data they select which banner ads to display where by how much the advertiser is willing to pay and how likely it will result in a sale. This company claims to be the first to use consumer behavior to determine which ads to display. The systems analytics also determine what a consumer might buy next. Since they only get paid when a transaction is made, they are very picky about where they are placing their ads. In the event that a click on an ad leads to a sale, the advertiser agrees to pay a percentage to a sale or an agreed upon average order-value. Its no wonder that a system like this has been developed with everyone wanting targeted marketing. I think that this means to us as consumers that we will be watched more closely as to what we do on the internet, and also we will be seeing more and more ads that are directed directly at us using the information they have acquired from our history on the internet.
Reflections:
Chapter 10 talks about developing and maintaining effective web sites. The book says that there are two primary roles that a web site plays in the marketing strategy. One is for a channel for providing information, and the other is to generate sales. Thats probably why the book also states that Marketing is clearly responsible for the important step in the Web development of identifying and describing the target market. More and more of the internet is simply marketing.
Source:http://www.internetretailer.com/dailyNews.asp?id=26029
What I learned:
This article is about a company called aCemo that has spent the last two years collecting anonymous data from about 140 million on-line customers and 375 retail sites. With this data they select which banner ads to display where by how much the advertiser is willing to pay and how likely it will result in a sale. This company claims to be the first to use consumer behavior to determine which ads to display. The systems analytics also determine what a consumer might buy next. Since they only get paid when a transaction is made, they are very picky about where they are placing their ads. In the event that a click on an ad leads to a sale, the advertiser agrees to pay a percentage to a sale or an agreed upon average order-value. Its no wonder that a system like this has been developed with everyone wanting targeted marketing. I think that this means to us as consumers that we will be watched more closely as to what we do on the internet, and also we will be seeing more and more ads that are directed directly at us using the information they have acquired from our history on the internet.
Reflections:
Chapter 10 talks about developing and maintaining effective web sites. The book says that there are two primary roles that a web site plays in the marketing strategy. One is for a channel for providing information, and the other is to generate sales. Thats probably why the book also states that Marketing is clearly responsible for the important step in the Web development of identifying and describing the target market. More and more of the internet is simply marketing.
Saturday, April 5, 2008
Chapter 9 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis
Source:http://blog.clickz.com/080404-144226.html
What I learned:
This article is about super targeted ads , this one featured on Facebook. Companies are now taking information used to set up user accounts in these on-line communities to market directly to individuals. As the article says, Facebook along with many others, "strip-mine" profiles to determine demographic, psychographic and interest based information. As shown in this ad of a career possibility, the idea behind all of this advertising is not simply marketing products any longer. Being able to market directly to consumers on a personal level makes the possibility's endless when it comes to getting peoples attention on-line.
Reflections:
Chapter nine is about customer service and support in web space. As discussed in the previous chapter, customer service and satisfaction is of up-most importance. Lack of satisfaction is costing companies lots of time and money. The unfortunate thing of it is, through out the global economy, the enduring chorus of complaints about customer service suggests that most companies are either not getting the message about customer satisfaction, or are not mastering the techniques to solve the problems. The first step in solving the problems is to listen to what the customers want.
45% of customers responded in a survey that they simply wanted a timely response to their questions. 22% wanted informative content, while only 17% wanted to be able to actually speak to a live person. On the flip side of things, only 39% of companies studied sent a response within the first 24 hours of contact, and only 17% of those had a full and accurate answer. More then 100 companies out of 300 did not respond at all. The cost of poor service is enormous and increasing. It is being realized in two ways.
First off, business' are loosing sales. Many e-tailers can count the number of shoppers who have abandoned their shopping carts before the make their purchases. Secondly, business' are experiencing higher customer service costs.
Source:http://blog.clickz.com/080404-144226.html
What I learned:
This article is about super targeted ads , this one featured on Facebook. Companies are now taking information used to set up user accounts in these on-line communities to market directly to individuals. As the article says, Facebook along with many others, "strip-mine" profiles to determine demographic, psychographic and interest based information. As shown in this ad of a career possibility, the idea behind all of this advertising is not simply marketing products any longer. Being able to market directly to consumers on a personal level makes the possibility's endless when it comes to getting peoples attention on-line.
Reflections:
Chapter nine is about customer service and support in web space. As discussed in the previous chapter, customer service and satisfaction is of up-most importance. Lack of satisfaction is costing companies lots of time and money. The unfortunate thing of it is, through out the global economy, the enduring chorus of complaints about customer service suggests that most companies are either not getting the message about customer satisfaction, or are not mastering the techniques to solve the problems. The first step in solving the problems is to listen to what the customers want.
45% of customers responded in a survey that they simply wanted a timely response to their questions. 22% wanted informative content, while only 17% wanted to be able to actually speak to a live person. On the flip side of things, only 39% of companies studied sent a response within the first 24 hours of contact, and only 17% of those had a full and accurate answer. More then 100 companies out of 300 did not respond at all. The cost of poor service is enormous and increasing. It is being realized in two ways.
First off, business' are loosing sales. Many e-tailers can count the number of shoppers who have abandoned their shopping carts before the make their purchases. Secondly, business' are experiencing higher customer service costs.
Friday, March 28, 2008
Chapter 8 Internet Marketing News Analysis and Reflections
Internet Marketing News Analysis
Source:http://www.internetretailer.com/dailyNews.asp?id=25869
What I Learned:
This article is about the fact that consumers are spending considerable amounts of time looking at items on-line, with notable impact on the apparel and beauty departments. Some web sites, such as Fire mountains Gem Web site, boasts the highest average for consumers spending on their site, with an average of 40 minutes per shopper. Ebay still holds the lead for the top on-line apparel shopping destination with 10.12 million shoppers last year. This is down 10% from the year before, but is still a gigantic number. It just goes to show that the internet is still an exploding trend, and people are demanding the accessibility to be able to shop at home. I think this means we as consumers will only see more and more of this internet selling, and for those smaller companies who chose not to have a page on-line, they may not be able to compete in todays tech savvy lifestyles.
Reflections:
Chapter eight is about the importance of retaining customers after acquisition. The book says it costs 7-10 times as much to acquire a new customer as it does to keep an existing one. I guess this is where the 80/20 rule comes into play. 80% of a business is done by 20% of the clientel. The book also goes on to say that while a happy customer will tell five people about their experience, an unhappy customer will tell nine. Thats a colossal amount, especially when reducing infractions by as little as 5% can increase profits from anywhere to 25%-85%.
The process of Customer Relationship management is said to be two-fold. Marketers must realize that relationship marketing requires significant changes in the way that marketing is done. They must focus more on the on going dialog between them and their customers and less on promotional campaigns. Secondly, the relationship must be treated and thought of as an ongoing process, not just a bunch of steps leading to a sale. This idea is going to lead to a series of new marketing techniques to help companies to better understand their customers.
Targeting, Personalization and Customization seem to be the key in this emerging customer relationship. Targeting is important to determine who is a valid prospect for acquisition or business. This comes in very nicely in marketing to make sure you are getting the right message across to the right people. Personalization involves creating special marketing content and is one of the fastest growing marketing techniques. It is used to break through all the clutter and try to reach a small target market. Customization is new products and services, made to fit that of an individual customer. People like to be able to customize their things, and companies have caught a hold of this. More and more we see information asked of us when we visit and open web pages. I see this as only the beginning of this trend. Information that we think is small unimportant stuff, for example when we fill out an application for a customer rewards program, is being used to target market products and services to us in a very big way. In a world where everything is so fast paced, people really still want to be treated as people, with respect. Companies are learning that if they are not customer friendly, they will be passed up for another business that is.
Source:http://www.internetretailer.com/dailyNews.asp?id=25869
What I Learned:
This article is about the fact that consumers are spending considerable amounts of time looking at items on-line, with notable impact on the apparel and beauty departments. Some web sites, such as Fire mountains Gem Web site, boasts the highest average for consumers spending on their site, with an average of 40 minutes per shopper. Ebay still holds the lead for the top on-line apparel shopping destination with 10.12 million shoppers last year. This is down 10% from the year before, but is still a gigantic number. It just goes to show that the internet is still an exploding trend, and people are demanding the accessibility to be able to shop at home. I think this means we as consumers will only see more and more of this internet selling, and for those smaller companies who chose not to have a page on-line, they may not be able to compete in todays tech savvy lifestyles.
Reflections:
Chapter eight is about the importance of retaining customers after acquisition. The book says it costs 7-10 times as much to acquire a new customer as it does to keep an existing one. I guess this is where the 80/20 rule comes into play. 80% of a business is done by 20% of the clientel. The book also goes on to say that while a happy customer will tell five people about their experience, an unhappy customer will tell nine. Thats a colossal amount, especially when reducing infractions by as little as 5% can increase profits from anywhere to 25%-85%.
The process of Customer Relationship management is said to be two-fold. Marketers must realize that relationship marketing requires significant changes in the way that marketing is done. They must focus more on the on going dialog between them and their customers and less on promotional campaigns. Secondly, the relationship must be treated and thought of as an ongoing process, not just a bunch of steps leading to a sale. This idea is going to lead to a series of new marketing techniques to help companies to better understand their customers.
Targeting, Personalization and Customization seem to be the key in this emerging customer relationship. Targeting is important to determine who is a valid prospect for acquisition or business. This comes in very nicely in marketing to make sure you are getting the right message across to the right people. Personalization involves creating special marketing content and is one of the fastest growing marketing techniques. It is used to break through all the clutter and try to reach a small target market. Customization is new products and services, made to fit that of an individual customer. People like to be able to customize their things, and companies have caught a hold of this. More and more we see information asked of us when we visit and open web pages. I see this as only the beginning of this trend. Information that we think is small unimportant stuff, for example when we fill out an application for a customer rewards program, is being used to target market products and services to us in a very big way. In a world where everything is so fast paced, people really still want to be treated as people, with respect. Companies are learning that if they are not customer friendly, they will be passed up for another business that is.
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