Online Marketing as a Demanded Business - Essay Example

Insert Introduction For the assignment of the marketing concepts, I choose an online market to tackle the task. Online Marketing or the internet advertisement is a form of marketing or advertising which uses the internet to deliver its goods and services to customers. It includes email marketing, social media marketing and many types of display advertising including the web banner advertising and mobile advertising. The online marketing frequently involves an organization consisting of a publisher, advertiser and potential participants including advertising agencies. The work of the editor is to integrate advertisements into its online content while the sponsor ensures that the advertisements displays on the publishers content. Potential agencies help in generating and placing an ad copy. Nowadays, online marketing has become a large business and were growing rapidly because it is widely used across virtually all industry sectors. The script will look at various techniques that online marketing employs to enhance the faster growth as compared to offline marketing. Body Online marketing has enhanced its fast growth through various ways. One of the methods it has employed to enhance its dynamic growth is through display advertising. Display advertising conveys its advertising message virtually using text, logos, animation, videos, photographs and other graphics. Online advertisers frequently target users with particular traits to increase their advertisements effect. They use cookies, which are unique identifiers of specific computers to decide which advert to serve to an individual customer. Through the help of, the cookies, the online advertisers are also able to track whether a user left the page without buying anything. It helps the online merchants to retarget the user later with an advertisement from the site the user visited. This Ensures that most customers can see the ads of the products as well as services they need and how to get them. Thus, purchasing them leading to income in that particular industry. Also, consumers who are not satisfied by the advertisements, find a form to fill what they think the advert does not achieve and how it can make. The online advertisers look at the same to ensure they satisfy the consumer’s tastes. As the online merchants collect data across multiple external websites about the users the user’s online activity, they can identify the user’s desires to deliver more targeted advertising. The advertisers can also target their audience by using a contextual advertising to provide displays advertisements related to the information on the web page where the advertisements appear. The retargeting, behavioral targeting and contextual advertising ensures that the sponsors provide what the customers are willing to have thus resulted in more purchase, from the customers that results in more income hence more growth in the online market. The online merchants are also able to deliver adverts based on user’s suspected geography through Geo-targeting. It is possible through the use of users IP address which communicates some geographic information. The geographic information is refined by other proxies or details to narrow the range of expected locations. It is of great importance to the online advertisers, because by identifying the geographic location. They will be able to know the particular good or service that individual people in that locality need most, and provide relevant adverts related to the same. Many people will be able to get access to that good or service through online marketing thus resulting to advancement in growth. Advantages of the online marketing as opposed to the offline marketing is that, the online merchants can reach their customers faster. Also, they are also able to use Geo-aiming, to show various exhibitions to the consumers geography. The online advertisers are also able to track if the user has seen a particular advert in order to reduce the unwanted repetitive exposures and provide adequate time gap between exposures. Online advertising is also able to reach nearly every customer globally and once advert design is complete it can be on mediately. Furthermore, it is easier and faster for online advertisers to modify or replace their adverts than their offline competitors. There is low cost of electronic communication that reduces the cost of exhibiting online shows compared to offline ads. Online publications and in particular social media, provide a low-cost means in for advertisers to engage with large established communities. Online advertisers have an added advantage because they can collect the data supplied by their customers by filling the forms. They use this data to identify various areas that the customers have problems and the ads they are comfortable. They use the information to the effect on the same, thus improving their adverts over time. From these, it is proved that online publication offers better returns than other media. Online publication ensures the online advertisers have a wide variety of presenting links. Unlike many offline advertisements, online advertisements are also interactive. For example, some books enable user to incorporate games, input queries or follow the advertiser on social media. This advantage of online ads as compared to offline book makes online marketing more efficient in ensuring satisfactory to their customers thus resulting in faster growth. Online marketing has also provided that their workers earn a better pay thus motivating them in working hard to enhance more effectiveness. It is because only needs few workers in online marketing as opposed to offline marketing. For example, online marketing requires only a publisher, advertising agencies and advertising affiliates unlike offline marketing that requires the owner, management committee, managers, brokers, workers, and commissioners. There is a long chain in offline to reach customers as opposed to online marketing, this long chain result in less profit as compared to the short chain in the online marketing. For example, online marketing it is publisher-advertising affiliate-consumer, but in offline marketing it is the owner (manufacture)-wholesale-retail-small scale retailers-brokers-consumers. Commercialization other areas in online marketing like email marketing, enhance marketing and commercialization promotion efforts, through e-mail messages to the prospective customers. Social media marketing has also increased advertising and marketing, via social networks like WhatsApp, twitter and YouTube. Other social networks like social biz connect has facilitated advertisement online that is very cheap and fast will a good pay after every week. Through online markets, quick and efficient ways to reach the customer has been realised, resulting in more profits and growth of online marketing. Online marketing has also led to high revenues for the country. For example in USA, in 2013, the internet advertising revenues totalled 42.8 billion dollars. This high income due to faster growth in online marketing has led to the growth of the country’s economy. Although online marketing is growing at a very fast rate and realizing more profits, there are challenges that are facing the online marketing. Some are fraud on the advertiser as with the online publications; online fraud is there when publishers overstate the number of advert impressions they have delivered to their advertisers. Most advertising and publishing associations are developing means to consider online ideas credibility. Also, the analysis of user information with advertisers and publishers has raised concerns of consumers about their privacy. Using user’s online activities, merchants can understand customers quite well. Advertisers often use technology, such as rescanning cookies to maximize their abilities to support customers. As per 2011 survey carried out by Harris Interactive, over half of online consumers had the adverse impression of online behavioral marketing and forty percent afraid that their personally-identifiable details had will it share with advertisers without their knowledge. Consumers are troubled when advertisers target them, especially on sensitive knowledge, such as health and financial status. For the betterment of online marketing, then suitable solutions to this problem should be implemented to ensure it protect consumer privacy so as to win the consumer support to the same. In general, consumer protection laws apply equally to online and offline activities. However, there are questions that jurisdiction’s laws apply and that regulatory agencies have enforcement authority over the transponder business. As a result the online advertising, industry participants should undertake numerous efforts to self-regulate and develop industry standards or codes of conduct. Privacy regulation may require users information before an advertiser can do the consumer. It will avoid the fear that the customer may have when the information about an individual is behind ones back. However, affirmative consent may be difficult and expensive to obtain. For example, online advertising provided through e-mail is more regulated than the same ad content offered through via banner adverts. Mobile advertisement should also ensure that the user opt-in before sending a message via text message. The above regulatory measures will ensure that the consumer’s privacy is well protected. The fear and tensions about secret information of consumers with the online advertisers will be over through solving the problems related to online marketing. It will also lead to more effectivene, high profits and faster growth. Conclusion Through online marketing, more advancements and profit will be realized. That is if the particular problems resulting from the same will be in order. A company that needs to attain its goals and objectives will have to use online marketing tool. Works cited Harris, Interactive. (2014). TRUSTe Consumer Privacy Confidence Index (Research Report)-US. Read More