The business practices of the new millennium differ greatly from the ones established before. This is even more apparent when we look at the marketing.
The marketing of today is not a one-way relationship. It requires almost an equal amount of B2C communication as of C2B communication. Building a trusting relationship with your clients is much easier when there is a dialog rather than when the company just “tells” the client what to like or what to do. Big enterprises with long history have already made different paths through which their customers can reach them and communicate their opinions. Smaller firms, however, and especially new ones, often do not have the means- time, money, human resources and information- to reach all of their audiences via more traditional ways. Internet marketing for them offers the perfect opportunity to build relationships and create loyalty among their clients. Furthermore, it is not only the customers who can acquire more information about the company. The online technology allows the company to research and gather market related information on customers, competitors, and the industry as a whole.
Besides the two-way communication the web also offers more interactive form of relaying information to the consumer. Graphics, music, games, videos, forums, customization- all those and more provide for a closer experience with the product or the brand and make it more approachable and familiar for the potential buyer. Personalized marketing is very much a buzz word nowadays where the multitude of brands on the market and the increasing individualization of the consumer require the companies to thin-slice their target audiences and try to create a special bond with each client.
Moreover, as internet connection extends to more and more places around the globe an online-based advertising campaign can reach existing and potential customers across borders and at very low cost around the clock. This presents the smaller companies with an enormous competitive power. In fact, one the main advantages of e-marketing for the SMEs is that internet reduces the differences between the big and the small businesses. The web allows for a certain type of egalitarianism- everybody is more or less equal online as long as they are creative and willing to be close to and honest with their customers. The transparency of the company’s actions is a double-edge sword but if the business can prove to their prospects that the brand is authentic and ethical it becomes a very powerful reason for the consumers to associate with it.
Finally, the speed of today’s technology allows the companies to change and adapt their campaigns to the needs of their prospects again at a minimal cost.
It is obvious then that it is crucial for smaller companies to actively use internet to develop and further their marketing activities if they are to be competitive in the oversaturated market. Used wisely and creatively the web can be the most important tool for any enterprise to stay afloat in the 21st century.
16 comments:
Big enterprises with long history (if you are big you obviously have long history)???? Does not really follow, most big companies especially in the IT world are relatively new, the story of google, facebook, tweeter and !!!!!!!. And what do you think about E-marketing for an SME in a region with low internet penetration given that most of its target market exist amongst those without out access to the internet.
Good points, thanks.
About the big companies- we were referring not to the internet-based ones because they clearly practice some form of electronic marketing "by default". Here we meant the traditional off-line enterprises for which it has taken long years to get established and to grow.
Your second question reminds me of a problem Bal gave us on our first day: "How will you sell me shampoo?" :) Buy them computers? Move them to a region with internet? Or maybe use good old WOM - the few having web access can spread the word to the many who don't. Therefore- target the few with your e-campaign. Any thoughts? Interesting question!
Good post!
My thoughts in response to Isimi's question: For SMEs to implement e-marketing, the basic Internet infrastructure, access and skills are apparently required. For countries who unfortunately have low internet access, it is largely the government's responsibility to find ways to address this issue considering that successful SMEs using e-marketing can potentially help drive the country's economic growth. And economic growth is always good as it will welcome investments in ICT infrastructure development leading to higher internet penetration. It's a cycle of inter-related benefits, basically.
So, i do think that the first step is to highlight the importance of e-marketing for SMEs and draw attention to the benefits. Once awareness and favorability is created, then perhaps the parties concerned (governments, lobbyists, business leaders, SME entrepeneurs)will mobilize themselves or one another to take the necessary actions and make e-marketing a 'necessity' for all SMEs and not a 'luxury' for only those who have access to it.
Good post,
I would like to know If you think Internet will increase the competitivity, because it is simple to be on Internet for all the company, and the consumer have more choice. So it can be more dangerous for the SME's so same with the E-marketing the big company will still have an advantge because they have more money so they can manage a better E-marketing strategy.
thank you
cedric
@ yana I was only pointing out a flaw in your theory of every big company, really dont know why you are taking it personal.
And what is with the sarcasm? Was just asking for your opinion on what you will advice a company that wants to go into e-marketing in a region with low internet penetration, given that their potential customers fall into the group without internet access.
Well if word of mouth is the way out then I guess e-marketing would not give then their needed break
@ Isimi
Nothing was taken personally I assure you, I was just answering your questions as well as I could. And since I had no good answer for your second one I gave you the first thing that came to mind:) For a good point see Sophia's post- she actually had something smart to say about it. What do you think btw?
@ cedric
Of course, money and other resources will always give a certain advantage to the bigger companies. However, in my opinion, these advantages are not so great online where anyone, with a bit of skill and creativity can make themselves seen and heard. Look for instance, at all the stars born out of youtube and the blogosphere (the latest examples I can think of are 15 y/o singer Justin Bieber and the 13 y/o fashion blogger Tavi). Internet gives the smaller companies chance to promote themselves for what they are and not for the money they have for advertising. In that vein for SMEs is even more pressing to be marketed online than for the already established companies. And that, in turn, will increase the competitiveness precisely because of the greater choice that consumers will have, as you mentioned.
I have a question too- what did you mean by "it can be more dangerous for the SMEs"? That's something I haven't thought about..
@ Sophia
Thank you for your comment, a well-thought answer !
@ Yana:
Hi,
When I say It can be more dangerous I mean Offline they can compete with few competitors but when it is on the Online market the number of competitors increase and the consumer have more choice, So dangerous with the number of competitors and dangerous because It is more dificult to build a relationship with the comsumer.
Alos I would like to know why you didn't link all the blog in your part '' Realative Blog''?
And to tell you our blog have chane is name from '' international blogger '' to '' Turn the Blogosphere''
Have a good day,
Cedric
@Cedric,
I am sorry if your blogs are not there... It was the work when I did not get all the blog address. I am thinking redo it.. Hopefully it will be fix by next week.
Undoubtedly, emarketing is important for any organizations and the writing has done very well to demonstrate those points. However, the writing does not prove that marketing research is important through emarketing for small medium enterprises. Can you please advise?
Thank you.
Good post.
I do agree that if SME want to survive and be successful in competitons, Emarketing is an advanced tool.
In order to reach your target you first need to know in which direction to shoot, right?:)
Therefore marketing research is essential for any company as the basic step for designing a good marketing campaign. And it goes without saying that e-marketing provides a perfect platform especially for SMEs to research their prospective audiences for the reasons outlined above- cost, speed, reach, ease, etc. In other words, the research is part of the e-marketing process and at the same time it also defines that process.
Hope that answers at least the gist of your question. Thank you for the constructive comment^^
@ Qiong Zhang
Thank you for your comment!
Very informative and interesting post.It is really a big help. Thank you so much for sharing it with us.
Bronx Marketing Research Compan
Marketing Consultant
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