Internet Marketing over Traditional Marketing – a journey to Entrepreneurship
Internet Marketing or Online Marketing or Network Marketing is all the same terms with different synonyms that carry a significant importance in today’s business. There is no way of leaving these technical marketing tools behind simply because our age old traditional marketing cannot even cope with the pace of Internet Marketing.
While traditional marketing can only provide success in local business with a limited customer base, Internet marketing can open the window of global sales opportunity. Doesn’t matter if you are going to sell a product or a service, internet marketing can help you throughout the way.
In this article we are going to discuss about the opportunities that internet marketing can bring to your existing business and to how newbie entrepreneurs can use these tools to create new opportunities. While traditional marketing is important for local marketing, Internet marketing can take it light years ahead. Sounds incredible, doesn’t it? Yes with the proper use of today’s technology you can take your business to a level where sky is the limit.
Internet Marketing over Traditional Marketing – a contrast between these two
Let us first discuss about the approaches of traditional marketing. According to Neil Borden there are “4 Ps” that defines the marketing mix for a business to bloom (Product, Price, Place and Promotion). Your business starts with a product or service you deliver for a particular price. Then you should have a marketplace from where you want to do your business. Finally and most importantly you have to promote your products means letting other people know what your products can do for them so that they feel interested to buy your product.
Suppose you have settled up a store where you sell underwear garments. So with traditional marketing approach you will set up a shop. For marketing you will hire sales people. You and your team will try to advertise your product by means of newspaper ads, billboard ads, tv commercial and so on. Thus you will gain popularity in your area and will have a permanent customer base. Fair enough to do business with small goals and objectives. What if you can sell your product worldwide and can have customers from around the world? At this point you must seek for the tools used in Internet Marketing. Because there is no alternative of internet marketing to reach a global audience for your product while at the same time it’s less costly then traditional marketing.
Internet Marketing over Traditional Marketing – How Internet Marketing works?
Internet marketing creates a virtual presence for your business, an endless opportunity that can bring revolutionary changes to your business. There are three tools that you must set up to give your business a virtual space. These are:
- A business website with online sales capabilities
- Internet marketing with verified tactics
- A global audience that will eventually turn into your customers
The best part of Internet Marketing or doing business over the internet is that you can start from zero or very low investment. While it takes thousands of dollars to set up an actual store, you can set up your website as your online store spending a few hundreds of dollars. And there is no need to open or close your online shop. It’s open 24hrs a day, 365 days a year. Often a term heard from internet marketers “I earn money while I sleep” sounds crazy for most of us, but it’s true. Your website is up there all the time. While you are sleeping at night it’s morning on other part of the world and customers from around the world can order your services or products anytime from anywhere.
But to make it a successful business venture you have to spice it up with internet marketing strategies and tactics. We will discuss more about this on our next article on “How to do Internet Marketing effectively to gain online sales?”
The final part is your global audience. If you can attract the visitors with your products or services they will be bound to do something for you. Think of Amazon they are selling products over the internet and on the other hand Facebook if offering social media services free of cost but indirectly not free at all. You are using facebook with the money of sponsored advertisements. Here lies the true strategy that turned an undergraduate Harvard student into a billion dollar businessman.