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Building an Internet Marketing Strategy

Building an Internet Marketing Strategy

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Building an Internet Marketing Strategy

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  1. Building an Internet Marketing Strategy Internet marketing is different from classic marketing Failure is the norm in Internet commercial projects Lack of knowledge, lack of decision Lack of anticipation, lack of results Professional approach leads to professional results The hippie period of the web is over A mistake in the thinking is a disaster in the making Technology should serve objectives Know your enemy Content rules Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  2. Building an Internet Marketing Strategy Introduction: Business on the Internet Knowledge: The environment Thinking: Internet strategy development Planning: Website development Winning: Internet marketing communication Guideline: A business plan Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  3. Building an Internet Marketing Strategy Action is the only truth of intentionJean-Paul Sartre Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  4. Building an Internet Marketing Strategy Why? Cisco can make 90% of its revenue with online sale EasyJet gains 90% of its tickets sales online Hannibal won the battle of Canae Because: Strategy enables firms with smaller resources to overcome larger and more powerful opponents Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  5. Building an Internet Marketing Strategy Basic definitions E-marketing E-commerce E-business Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  6. Building an Internet Marketing Strategy What benefits? It depends on the approach: Conservative approach on existing market and product = Market penetration Conservative approach on new market and product = Market development Progressive approach on existing market and product = Product development Progressive approach on existing market and product = Diversification Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  7. Building an Internet Marketing Strategy What benefits? Tangible benefits Increased sales from sales leads giving rise to increase revenueCost reduction from reduced time in transaction, service, communication Intangible benefits Corporate image / brand improvedMore responsive marketing communicationImproved customer serviceMeeting customer expectationsBetter management of marketing communicationFeedback from customers on products Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  8. Building an Internet Marketing Strategy Keys to success: The 6 Is – John Deighton Interactivity – Internet is a pull medium Intelligence – Ideas reign Individualization – Tailored communications Integration – Communication and information Industry restructuring – Re-intermediation Independence of location – New markets Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  9. The Internet environment MARKET CUSTOMERS COMPETITORS & INTERMEDIARIES TECHNOLOGY SOCIAL AND ECONOMICAL FACTORS Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  10. The Internet environment International Economic factors Legal constraints Cultural factors Micro-environment Technology - Innovation - Trends Society Public opinion Moral & Ethics Organisation Country specific Economic factors Legal constraints Cultural factors Suppliers Customers Intermediaries Competitors Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  11. The Internet environment The market Porter’s five forces Increased bargaining power of buyers - Commodization Reduced bargaining power of suppliers - Wider choice Threat of substitute products and services - New business models Reduced barriers to entry Greater rivalry between existing competitors “CHOOSE YOUR BUSINESS MODEL” Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  12. The Internet environment Business models E-shop E-malls E-auctions Virtual communities Collaboration platform Hubs Value-chain providers Information brokers Trust Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  13. The Internet environment Revenue models E-shop: Direct product sales, Direct service sales Retailer / reseller Intermediary: Subscription, Rental of service Marketplace intermediary: Affiliation, Auction, Marketplace – Commission based sales Supply chain provider or integrator: Banners, Ads, Sponsorship Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  14. The Internet environment The customers Adoption = Access + value proposition + usage + securitySegmentation = Localization + psychology + culture + experience Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  15. The Internet environment The intermediaries Independent sites that are used to bring buyers and sellers together Directories (Yahoo) Search engines (Google) E-malls (BarclaySquare) Virtual resellers (Amazon) Financial intermediaries (Netcommerce) Virtual communities Evaluators (Kelkoo) Portals Access, horizontal and vertical integration, geographical, marketplace Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  16. The Internet environment Macro-environment The Technology Challenge Successfully assess which new technological innovations can be applied to give competitive advantage Social, economical and cultural factors Barriers: Psychological – Culture, religion, etc. - Behavior Operational – Infrastructure Organizational – Internet governance, taxation Product / market – Not the right place to sell Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  17. The Internet marketing strategy Generic strategic approach Situation review Setting goals Formulate strategy Implementing E-CRM Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  18. The Internet marketing strategy Michael Porter “The key question is not whether to deploy internet technology - But how to deploy it” Objective: Provide consistent direction for an organization’s e-marketing activities that integrates with its other marketing activities and supports the overall objectives of the business Process: A strategic process model provides a framework that gives a logical sequence of “roadmap” to follow to ensure inclusion of all keys activities of strategy development and implementation Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  19. The Internet marketing strategy Carlos GHOSN Where am I going? is The first thing to say to generate motivation Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  20. The Internet marketing strategy Modes of strategy development Logical rational planning Use analytical tools and frameworks Pragmatic incremental Minor adjustments to the external environment Subjective visionaryResult of a dominant or charismatic leader Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  21. The Internet marketing strategy The planning process Phase 1: Goal settings: Mission + objectives Phase 2: Situation review: Marketing audit + SWOT Phase 3: Strategy formulation: Marketing strategy + Expected results Phase 4: Resource allocation and monitoring: Budget + Implementation project Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  22. The Internet marketing strategy The classical framework for strategic management Mission Objectives External analysis Internal analysis Strategy formulation Implementation Control Monitoring Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  23. The Internet marketing strategy Phase 1: Strategic goals setting Build a scenario Qualitative scenarios + Quantitative scenarios + Benefits identification - Rampant experimentation = Positive return on investment Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  24. The Internet marketing strategy What benefits? According to the European companies Speed of transactions increasedManagement of information improvedImproved understanding of customer requirements Increased service level to customersRemoval of time constraintsAccess to global marketsRemoval of distance constraintsAbility to complete total transaction electronicallyAccess to full competitive arenaOpportunities for new revenues / servicesCost effectivenessMore effective relationships with business partners Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  25. The Internet marketing strategy Phase 2: Situation review Internal resources Processes in the company Activity on the marketplace Immediate competitive environment Wider environment 1 – Internal audit 2 – External audit Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  26. The Internet marketing strategy Phase 2: Situation review Internal audit Resources Financial Technological Human Responsibility SWOT Online presence Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  27. The Internet marketing strategy Phase 2: Situation review External audit Demand Customers Competitors Intermediaries SWOT Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  28. The Internet marketing strategy Phase 2: Situation review SWOT Analysis Opportunities New markets, new services New distribution channels Reduced power of suppliers Demographic characteristics Cost reduction Strengths Flexibility Strong brand Senior management committment Strategy in place Channels in place Threats New entrants, new products Faster responding Channel conflicts Customer choice Regulation Weaknesses Weak brand Inflexibility Lack of leadership No strategy Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  29. The Internet marketing strategy Phase 4: Strategy formulation Segmentation Identify customer needs and segment markets (Is the market attractive? Which segments within the market is the most attractive?) Target marketing Evaluate and select target segments (Can we serve customers in this segment better than the competition can?) Positioning and differentiating Identify proportion and online value proposition for each segment (Can we outperform the competition and build significant competitive advantage?) Planning – Deploy resources Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  30. The Internet marketing strategy E-CRM Approaches Attract new and existing customers to site Incentives visitors to action Capture customer information to maintain relationship Maintain dialogue using online communication Maintain dialogue using offline communication E-CRM Tools Databases Personalization E-mail Virtual communities Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  31. Planning website development The process Analysis Design Development Testing + Content management Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  32. Planning website development It is a natural mistake amongst those creating a new web site for the first time to ‘dive in’ and starts creating pages without forward planning (Chaffey) But Experience of developing information systems has shown that an approach that involves to much up-front planning, analysis and design before development is started does not work well (Bocij) Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  33. Planning website development The development process Pre-development Content planning Content development and testing Publishing and launching of the site Analysis Test & review Design Develop Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  34. Planning website development 1 - The process: Analyzing Find customer needs Design customer orientation Adapt to localization Review competitors’ websites Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  35. Planning website development 2 - The process: Design 1 - Design the user experience Information architecture: Presentation / Interaction / Representation 2 - Develop customer oriented content Awareness / interest / evaluation / trial / adoption and Develop marketing oriented content Acquisition / conversion / retention / service quality / branding Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  36. Planning website development 2 - The process: Design Encourage people to act A great website will allow people to act in a variety of ways. People should be encouraged to: Buy your product or complete some other transaction with you Get in touch with you Contribute to a discussion forum Subscribe to a newsletter Fill out a form Download something Inform someone else about your website Print out your content in a printer-friendly format Link to you Republish a selection of your content (where appropriate) Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  37. Planning website development 2 - The process: Design User-centered design Who are the important users? What is their purpose for accessing the site? How frequently will they visit the site? What experience and expertise do they have? What nationality (language) are they? What type of information are they looking for? How do they want the information to be presented to them? What type of computers / screens / browsers do they use? Evaluate design: effectiveness, productivity, satisfaction Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  38. Planning website development 2 - The process: Design Basic elements of web design Identification / Navigation / Content / Interactivity The 7CS of advanced customer interface design Content Context Commerce Community Customization Connection Communication Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  39. Planning website development 2 - The process: Design About content management systems… What is a CMS? http://en.wikipedia.org/wiki/Content_management_system Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  40. Planning website development 2 - The process: Design About content management systems… A taste of “New thinking”, by Gerry McGovern Benefits of a CMS A quality CMS can help you streamline your publishing processes. It can allow you to develop an information architecture that is robust, yet flexible. It can allow you to manage your content efficiently and cost-effectively. A CMS makes it easier for people to create, edit and publish content on a website. A good CMS allows non-technical authors to easily and quickly publish their content. More >> Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  41. Planning website development 3 - The process: Testing and reviewing Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  42. Interactive marketing communication Characteristics Objectives Offline Online Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  43. Interactive marketing communication Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  44. Interactive marketing communication Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  45. Interactive marketing communication Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  46. Interactive marketing communication Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  47. Interactive marketing communication Build a great website and they will come! From: 1 – Search engines : 33% 2 – Links : 29% 3 - URL 3 main objectives of interactive marketing communication Use online and offline communication to drive visitors to a web site Use on-site communication to deliver an effective message Integrate all communication channels to achieve marketing objectives Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  48. Interactive marketing communication Characteristics From push to pull From monologue to dialogue From one to many to one to some and one to one From lean back to lean forward Hoffman & Novak (1997) Consumers can interact with the medium, firms can provide contentto the medium and in the most radical departure fromtraditional marketing environments,consumers can provide commercially-oriented content to the media Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  49. Interactive marketing communication Integration URL offline prompt Offline Ad PR or WoM Web site Search engine Links Paid banner Or Sponsorship E-mail ad Direct e-mail Building an Internet marketing strategy - A presentation by Stefan B. Bazan

  50. Interactive marketing communication Conversion marketing objectives 200.000 reach 5% search engine conversion 10.000 site visitors 10% website conversion 1000 qualified leads 10% sales reps conversion 100 customers Building an Internet marketing strategy - A presentation by Stefan B. Bazan