Nine Web Marketing Principles

1. Nine Web Marketing Principles

2. Webonomics • This section is based on the book Webonomics by Evan I. Schwartz

3. 1. Quality of Experience • It is the quality of the experience that counts, not the quantity of visitors • What will cause people to come back? • Don’t just supply electronic information, create an online community • The web is not a mass medium: it’s an interactive, personal, niche medium • News and information services will only be profitable by inventing and charging for value-added services.

4. 2. Use the Web for Results • Marketers shouldn’t be on the web for exposure, but for results. • Web picks up where traditional advertising stops. • Web ads must link to in-depth product information • Like a human sales person: • Learn about customers’ preferences • Provide service • Generate future sales

5. 2. Use the Web for Results • Mass media pushes; on the web, we pull. • Web consumers seek info from marketer • Getting your message out requires the consumer’s consent. • CPM doesn’t work; web marketers must attract smaller numbers of qualified consumers • 4 Ways to Promote site: • leverage traditional media • garner press attention • hyperlinks to other site • buy electronic ads

6. 3. Compensating Consumers • Consumers must be compensated for disclosing data about themselves • Concerned about privacy • Will trade valuable information if the deal is favorable • Getting consumers to register their names requires something significant in return • Personalized news • Entertainment, advice • Membership in online community

7. 3. Compensating Consumers • Use collected information to provide the consumer with a tangible benefit • Directly targeted ads • Provide discounts and rebates for vital demographic and psychographic info • Limits: • Inform if you will sell info • Don’t solicit info from children • Let consumers opt out

8. 4. Information Rich Products • Consumers will shop online only for information-rich products • Information sells products on the web • Stock site with facts, news, knowledge, wisdom, and advice about products • Geography is irrelevant; Cyber-malls won’t succeed • Succeed by providing a broader selection, superior product expertise, below retail prices

9. Which is information-rich? • Ford Taurus • Coca Cola • Anne Rice’s latest novel, Pandora • New house • Pamper’s • A new Dell Computer • Pringle’s Potato Crisps

10. Information Rich Products • What is the nature of the offering? Is it a physical product, a physical service, a virtual service, or intellectual property?

11. 5. Self-Service • Self-service provides for the highest level of customer comfort • Increased comfort, control, and convenience • Web is always open • Travel reservations, at home banking, self-service shipping • Cuts down on customer service costs • Human service personnel will be free to focus on higher level tasks

12. 6. Value-Based Currencies • Value-based currencies enable sites to create their own monetary system • Monetary systems that reward loyal customers with points that can be redeemed later for real goods and services • e.g., frequent flyer miles, access time • Cyber cash, micro-payments are failing to catch on • Trust is the most valued commodity

13. 7. Trusted Brand Names Matter • With fly-by-night organizations abundant on the web, a trusted brand name matters • Major brand names are up for reevaluation on the web • Being the first to do something is a great way to establish a brand name • Companies that establish a strong affinity with customers can establish an online community of interest around their brands

14. 8. Small Business can Compete • Even the smallest business can compete in the Web’s global “Marketspace” • Any business can go global with unprecedented ease and low cost • Well designed storefronts enable small companies to act “big” and enable big companies to act as if they are as flexible and responsive as startups. • Language matters

15. 9. Agility Rules • Agility rules: web sites must continually adapt to the market • Competitive advantage may only last a few weeks or months • Take feedback, and respond promptly and seriously to what you hear • Add new features regularly • Recognize that disruptive technologies alter the way the web economy works. How will you capitalize on these technologies?

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