What is Internet Marketing?

Internet Marketing
World of Digital Marketing

The technique of advertising products or services by way of the internet is known as internet or digital marketing. One of the primary benefits offered through the internet is its ability to obtain the maximum within no time. Furthermore, the expenses of distribution of facts are lower. Online advertising, additionally known as Internet Marketing, is stated to have a much broader scope and a more effect attributable to the nature of this medium.

Internet marketing, e Marketing, Digital Marketing, Social Media Marketing, Search Engine Marketing, Online Advertisement, Web Marketing, Mobile Advertisement, Email Marketing and Online Marketing etc almost are having the same meanings.

 A marketing strategy is a collection of ways which help any company to increase their plus it also helps them to gain their competitive advantage to achieve customer satisfaction. Internet marketing uses different marketing techniques to present their products in attractive way. They not only post ads in forms of banners but also approach their customers through emails, SEOs, Search Engine Marketing etc.

Internet marketing requires proper plan. This plan is made by conducting market research thoroughly. Market research is done in 3 phases:

In the initial phase 2 crucial factors are focused:

  • Finding out your market competitors
  • Targeting your Customers

Second phase is about Data Analysis. This analysis requires analyzing market data and exploring the customers’ requirements.

Third phase is important of all as it is about choosing the most suitable marketing method and developing it. This decisive step requires pretty much attention as it has long term effects on your business in future.

Final phase is of implementing the plan. This implemented plan should be monitored intervalley and proper feedbacks should be taken to check the effectiveness of plan.

Web promotion and development plan are like soul to the body of business. Another important thing that must be kept in mind that the marketer should check ranking on major search engines.

Market should try to approach its customers personally either through emails, podcasts, discussion forums or blogs. This direct interaction has very positive effects on both customers and marketer and off-course Business too. Here are the uses of these techniques.

Blogs Create awareness about products and provides reviews about other users and represents marketer’s creativity and idea
Forum Encourages participation and discussions along with findings and results
Email Marketing A wide range of customers can be addressed
Online Contests Maximum engagement can be gained to relatively substantial number of people
Press Release & Articles Introducing the launched products to the targeted customers

Internet marketing uses long terms and short-term marketing plans as per their requirement and market environment.

Long-term: Email opt-in lists, article marketing, application of social marketing, social book-marking etc.
Short-term: Purchasing advertising, participating in forums

Building relationships with customers is the key factor in online business and this can be done by personal selling or direct interaction. You can make a well targeted and responsive opt-in list for the customers which attracts the customers to stay in touch with marketer. Customers can be addressed by writing article and publishing them on Article directories (special websites that allow marketer to publish free of cost). Viral Marketing promotes articles on social media which is quite helpful in creating brand awareness. This is quite speedy way and awareness spread like fire in forest.

So, it is not an exaggeration to say that internet marketing has given a new and relatively more effective direction to marketers that is helping them to meet their business objectives in a more facile and swift way making market access and interaction a kid stuff for marketer.

What is Niche Marketing?

Niche marketing actually is a targeted marketing plan or also you can say subset of the market on which a specific product is focused or identify a specific market segment. The market niche describe as the product characteristic aimed at satisfying specific market needs hobbies, occupations, or interest in social or political causes, or tailor a marketing plan to that segment’s as well as the price range, production quality and the demographics that is intended to impact. It targets its very specific and well-defined groups of population. Due to its specificities factor it is better known as concentrated or focused marketing. This is because they identify and work upon a specific segment according to its own needs and preferences and their behavior patterns.

Niche Science
Niche Science

Niche Marketing is helpful in predicting consumers’ behaviors in certain aspects. i.e. Demographics, hobbies, interests, lifestyle, ethnicity, social or political causes. All the segments are set up according to concerned features. So, the segment may be set up according to design, price, production, quality and many more like that. These segments cover almost all the commodities that may be required by any group of population at any stage of life.

Here is a word-snap how niche marketing covers the life style of an individual.

  • Physical needs
  • Pay premiums
  • Specialization
  • Less competitor
  • Budget-conscious

Niche marketing plays its vital role in small businesses that are more concerned about customers and consumers preferences because of less budget limitations that renders them to have large marketing budget or take risks. But we can’t say that niche marketing is no important for large organizations. Large organizations equally get benefit from niche marketing as they focus customers preferences and that helps them in creating many loyal customers and brand awareness is also spread. There are certain examples in our daily life where Niche marketing is helping large organizations.

  • Automakers might target hybrid cars at environmentally-conscious buyers in urban areas.
  • Food Businesses reach nutritionally aware consumers who will likely pay a premium for the health benefits of organic food.
  • Clothing business providing apparels according to changing environmental conditions

Adopting Niche marketing in your business creates your specific mantra and aura that creates you’re an attraction for customers as compared to the non-niche marketing adopter business. It creates a sense of loyalty in customers as customers feel more special as they are considered an entity and their needs are being addressed rather than aiming on business goals only.

So, we can say that niche marketing is a big deal of benefits. It is simply plays key role in success of business. The positive impacts of this marketing are listed below.

  • Customers loyalty is gained
  • Increase in potential customers
  • Competitive advantage
  • Profit goals easy achievement

But as we know that like a picture everything has 2 sides. Bright and dark. Niche marketing has some negative effect too.

  • Market crowd
  • Competition easily created
  • Benefits only from economies of scale that is a challenge sometimes.

A few internet marketers acknowledge niche marketing both a marketing and business technique and note that it is not for the swoon of heart. Organizations intended to determine and tap the proper niche must research and test their contribution intensively to protect that they exactly meet consumer demands inside the target market.

This is the 2nd post in the series of How To Earn Money Online