The World Business

Archive for August, 2010

Online marketing, also known as internet marketing or Emarketing, is the promotion of products or services via the internet. This advancement in technology brought about a huge change in the way business is conducted.

There are a lot of methods used in online marketing. These methods include search engine marketing, display advertising, e-mail marketing, affiliate marketing, interactive marketing, and online reputation managament. Blog marketing and viral marketing, which are social marketing methods are also being utilized.

A brief definition of the various methods on online marketng are the following:

• Search Engine Marketing (SEM) seek to promote websites by increasing their visibility in search engine result pages (SERPs) and so create higher rankings.

• Display Advertising is a type of advertisemet that include logos, photographs, location maps and other similar items. Animated or unanimated images are utilized and may include audios or videos.

• E-mail Marketing uses the electronic mail as a way of getting hold of target clients.

• Affiliate Marketing is an online marketing practice in which affiliates are given rewards by the company for each visitor or customer brought about by the affiliate’s marketing efforts.

• Interactive Marketing is the ability to address the customer, remember what the customer said and address the customer again in a way that exemplify that whatever information the customer shared is remembered, as defined by John Deighton at Harvard.

• Online Reputation Management is used for creating a unique presence of a person or entity on the internet. This presence could be seen in any kind of content that directs to the person or entity like news, blogs and forums participation, own web sites, social media presence, pictures, videos, and the like.

• Blog Marketing is online marketing via web blogs.

• Viral Marketing refer to marketing techniques that use social networks to promote brand awareness. This induce people to spread a marketing message at his own free will.

Whatever online marketing method is employed, there will always be pros and cons. Each method should be carefully weighed in order to achieve the most benefit.

Nowadays, many people choose Internet Marketing to earn full time income. A lot of individuals who are working at home and managing their home based businesses either partly or entirely dependent on Internet Marketing as an effective job to make money. Regardless it is an individual or a company, both need to fully understand the concept of Internet Marketing and keep in mind several factors that might really affect their business.

As any other new profession, Internet Marketers are also facing some challenges and obstacles which may eventually lead to reduce the chances of their success. The main challenges are the language and culture barriers that may cause some problems for Internet Marketers while interacting with their customers and other partner websites. Therefore, there is a pressing need to develop kind of programs that would help in translating the different languages to those understandable by customers.

Not to forget the cultural differences like principles and customs as well. May I also emphasize on the importance of a good management while marketing on the internet to cope up with the rapid changes in the market on both local and international levels. Also keep in mind that marketing is a difficult job to perform especially as it might not work if the people working in this field are not professionals in doing this well.

In the Arab World for example, this might be one of the main challenges that is facing Internet Marketing companies, considering that what happens in most of the Arabic companies is only an attempt to market electronically but really without any supporting specialty. These companies often fail to copy the right means and methods of marketing online thus in many cases they simply do not succeed to communicate the message or to present the overall product to the end customer.

Adding to that, according to some online marketing experts, these copied methods will not aim to more than either experimenting what might work and waiting for a reaction or applying the trick and seduce strategies similar to any other traditional marketing transaction.

Privacy and Confidentiality are also considered among the obstacles that face people working in this field. In other words, the number of customers who adopt the idea of shopping and dealing through the internet will definitely affect its popularity, especially that most of the electronic transactions require getting some information from customers such as name, nationality, address and payment method. For this reason, there is a need to incorporate special security softwares and plug-ins to maintain the privacy and confidentiality of the commercial transactions by encrypting the electronic payment system to avoid suspicious and fraudulent activities.

Other concerns about the privacy factor include the necessity of introducing the laws and procedures to regulate the internet marketing operations and preserve copying and publishing rights on the web as well as develop the financial and commercial systems to facilitate online marketing activities. It is also very important to educate and make individuals and organizations aware about the internet and its effects on our modern lives especially in those countries that are still behind in using the internet.

The good news though is in spite of the challenges facing Internet Marketing as discussed above, Information Technology experts are optimistic that Internet Marketing jobs are going to get better opportunities and seekers in the coming days with the wide spread of the internet and the huge circular of commercial and intellectual transactions already happening through it.

International Trade Organization for instance, has published a report that illustrates that number of internet users in the world have increased to more than 100 million users in 2005 which 1/3 were from the United States itself. The report has also stated that the expected business transactions that are taking place through the internet will constitute about 70% of the total global trade by 2010.

Email marketing is a viable and effective online marketing tool. The results that it can produce in its process speak well of the fact that it is a gradual money-making machine. To succeed in email marketing, you will have to understand what the simple email is all about. You have got to know the mechanics of it, how to use it and when to use it, in order to effectively support your email marketing campaign.

* Reason 1

Email marketing gives many benefits. Mailboxes are checked everyday for incoming mails. What you will get from this is the opportunity to build good rapport with the senders of those emails. This is vital to supporting your marketing strategies. Relationships are what email marketing can reward you only if you make the attempt to build them. Furthermore, you will be able to extract pieces of vital information about the buying behavioral patterns. Such information can be used to make better informed decisions in areas of product changes and customer service.

* Reason 2

The email opens the door for you to quickly inform your customers about your latest products or services and their accompanying offers, discounts or bonuses. This can be done through placing on the email links that will lead to your sales copy. Such information can be instantly conveyed to customers through a compelling email message. Email marketing empowers you to provide the compelling reason plus giving powerful motivation for customers to click on those links.

* Reason 3

What can you say? Email has the speed that beats competition from all other transmission channels. It is technological innovation at its best. Through the email, you are able to do so many things. You can provide instant information and build relationships with customers easily. You will also be able to monitor feedback and complaints, and even special requests that need urgent replies. All these can be done by a simple click; it’s as simple as ABC.

* Reason 4

One vital point about the email is that it will help you to sustain the interest of customers effectively. This is often done by placing the links strategically at various spots in the sales copy. The possibility of clicking away is reduced greatly as long as customers get to notice the links as they read down the message. The whole process will help reinstate the offers for your product, and keeps on reminding customers about them. It is a strategic wonder of email marketing.

* Reason 5

Some work, of course, needs to be done on your part if you want to succeed in email marketing. This is about conducting regular monitoring of all mails. All customers are important to building the customer list. Therefore, it is good to keep all mails up-to-date, in terms of feedback, queries, comments, and requests. Once these are done, the email marketing campaign would be sailing smoothly and getting positive results.

Conclusion

Email marketing is indeed a viable marketing medium. The email is cheap, inexpensive, fast and effective. With these supporting facts, there are thousands of reasons for you to succeed in email marketing. It’s a lucrative road to that pot of gold at the other end!

Poor financing is the number two reason small businesses fail, falling right behind poor management. Sufficient funding is paramount to the success of small businesses, and small business grants can be the answer to the problem. If business owners have the necessary knowledge about how to find and properly request grants, they have a better shot at creating a successful business that will be open longer and prosper.

There are over 300 different grants and loans available for small businesses that are just starting out. The grants range from $25,000 up to $1,000,000 depending on the size and projected success rate of the business. There are also grants available to help small businesses grow or expand. Grants are not the same as loans because they do not have to be repaid. A grant is considered free money, as well as an investment to promote the success of small businesses and the U.S. economy. Money for grants comes from income taxes. Obtaining a small business grant does not require credit checks or deposits, even if the owners have experienced bankruptcy in the past.

There are a number of helpful websites that send small businesses government grant packages for free, excluding the cost of shipping. These packages include information on how to find grants, how to prepare a grant request, and how to apply for grants pertaining to a specific business. Some of the providers are Government Funding Solutions, Grant Master, and Grant Wizard.

It is important to be familiar with the Small Business Administration’s (SBA) rules for receiving grants before beginning the process of obtaining one. Although the SBA does not provide grants to small businesses, they do provide helpful suggestions and resources on how to find grants.

In order to qualify for a small business grant, individuals must first become familiar with the 13 CFR 143 document that lists all of the requirements to be eligible for a grant. This document includes information on the pre-award and post-award periods and defines all aspects of applying for a grant and states who is eligible. The CFR is the primary source of rules and regulations for small business grants and must be read before starting the grant writing process.

After reviewing the requirements, prospective business owners must write a grant request. There are professionals who will write a grant proposal or the individuals may complete it themselves. The Catalog of Federal Domestic Assistance is a helpful site that links individuals to resources about federal grants for small businesses. Afterschool.gov gives helpful tips on how to write a small business grant and, although it is geared toward grants for after school programs, includes helpful information for grant writing in general.

Additionally, there are many well-established government and private organizations that provide grants to small businesses. The Department of Justice’s Ten Grant document gives access to grant opportunities for those conducting research in support of law enforcement. The Department of Labor’s Employment and Training Administration has several grant opportunities for small business owners. They offer about $125 million to businesses that are based in a community setting with special attention to training programs. The Department of Transportation is another organization that offers small business grants. They offer grants to any business willing to help resolve the growing problems with the federal-aid highway program. The Department of Education has a program called e-GRANTS that locates electronic grants online. They have a detailed list of grants available and the necessary applications to fill out. There are a variety of grants available for different groups, all of which have detailed descriptions and contact information. Other organizations that provide small business grants include the EPA, the National Cancer Institute, NOAA, the National Endowment for the Humanities, and the U.S. Department of Health and Human Services.