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MARKETING STRATEGY : Marketing Online Current Internet StrategiesGiven the current business environment, internet marketing services are trying their best to come up with a marketing strategies that could help their companies reap the most benefit while keeping spending down. Firms simply cannot suspend their marketing plans when times are tough as such an approach risks hurting their long-term market shares. Contrastingly, the current year can turn out to be very exciting and challenging for online marketers. As for now, there’ll be a need to build the foundation for future expansion, which would include enhancing branding and leveraging the use of existing resources. The total number of Internet users worldwide, as of December 31, 2008, was 1.57 billion, which is equal to 23.5% of the world’s population, according to the Internet World Statistics web directory1. The Internet is thus clearly an efficient way for companies to gain customers from across the world through the medium of Online Marketing. Online or Internet marketing offers some distinct advantages: it allows businesses to reach a wide audience for a small fraction of traditional marketing budgets, and it provides results that are almost totally quantifiable, allowing for quick evaluation and continual adjustments to improve outcomes. Companies receive immediate feedback, which can be measured in terms of clicks, conversions, registration or sales. Through this advertising medium, firms are able to easily track their audience’s response. Perhaps the biggest attraction of this business channel is that nearly all aspects of online marketing can be tracked, traced and measured. We expect to see an increased dependence on online technology this year, and the following are the broad trends that we expect to witness:
A study undertaken by Merrill Lynch estimated that of all hotel bookings generated in 2008, 40% would be through the Internet, compared to around 33% in 2007 and close to 30% in 2006. The market research further depicted that at least another one-third of all hotel bookings in 2008 would be influenced by the Internet, but done offline (call centre, walk-ins, group bookings, etc). JD Power and Associates’ Independent Travel Website Satisfaction Study (2008) presents an even brighter outlook for Internet marketing: figures collated by this study show that of the total travel bookings done in the year 2008 globally, close to 70% were made online. In a discussion, Tanya Racz, president of the National Business Travel Association (NBTA) Canada, shared the results of a member survey in which 70% of respondents expected business travel to continue to expand, albeit at a slower pace in 2009. The NBTA panel supported these findings and agreed that while people will still travel, booking patterns are changing. The Internet is clearly exercising a growing influence on consumer decision-making, and this presents a whole new range of possibilities where selling products and services is concerned. Businesses should thus aim to move beyond the conventional ways of marketing and explore new avenues to reach out to a larger audience. In today’s competitive business environment, there is a strong case for businesses to be creative in their marketing strategy, which includes integrating a digital strategy with their print, outdoor, radio and TV plans. Understanding the target market is crucial for developing an effective online marketing plan. This is especially so for the hospitality and travel industries, where, taken globally, the Internet is the most important revenue channel. As a result, more companies are turning towards outsourcing their Internet marketing operations to specialists. According to a white paper by Quill Advertising, outsourcing of marketing and communications is now an upcoming trend; 53% of industry marketing executives say that marketing outsourcing, partial or complete, is a part of their future strategy. A Case in Point Focus on CPA (Cost per Action), whether it be a lead, a sign-up or a sale. The best part is, you can measure and track the results that you get; for example, you can see how many people come to your website through the paid search or the PPC ads, which search words are fetching them to the site and what number of visitors are filling the contact form. Map them back to your marketing and business objectives to get a clear picture about returns on investment. Unlike traditional channels where the work generally ends after the ad has appeared on TV or print media, in digital marketing it begins once the campaign has gone live. Conclusion For companies across the world, measuring the true performance of their marketing effort and analysing its ROI is going to be the key question this year. Online marketing is becoming the most frequent touch point for buyers; and this requires that hotels properly manage their Internet marketing and distribution efforts. In today’s business business environment, there is a clear need for companies to adopt a focused and comprehensive marketing strategy that would possibly incorporate a range of platforms. And this is where marketing specialists can step in, to provide customised solutions that help hotels enhance their return on investment. source: Sachin Suri April 10, 2009 - http://www.hospitalitynet.org/news/4040855.html Strategy for Marketing Your BusinessQ: How can a professional web designer come up with a business marketing strategy? I am a webmaster in Florida. From what I read and what people tell me, the skills I have for designing websites and web development are still in high demand.....Marketing your Internet BusinessSo you've got a fantastic idea for a business, a product that absolutely everyone wants. so now what? 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