Importance of Internet Strategy: Part 2

Extreme Target Marketing

The most efficient way for marketers to spend money is to direct spending to those who are most likely to be interested in what the marketer is offering. Unfortunately, efforts to target only customers who have the highest probably of buying has not been easy. For instance, consider how much money is wasted on television advertisements to people who probably will not buy. Yet the Internet’s unrivaled ability to identify and track customers has greatly improved marketer’s ability to target customers who exhibit the highest potential for purchasing products.

Stimulate Impulse Purchases

Whether customers like it or not, the Internet is proving to be the ultimate venue for inducing impulse purchases. Much of this can be attributed to marketers taking advantage of improvements in technologies that: 1) allow a website to offer product suggestions based on customer’s online buying behavior, and 2) streamline the online purchasing process. But online impulse purchasing also takes advantage of the “purchase now, pay later” attitude common in an overspending credit card society. How this plays out over time as many customers become overwhelmed with debt will need to be watched and could impact online marketer’s activities.

Customized Product and Service Offerings

Companies know they can develop loyal customers when product and service offerings are designed to satisfy individual needs. This has led many online marketers to implement a mass customization strategy offering customers online options for configuring products or services. The interactive nature of the Internet makes “build-your-own” a relatively easy to implement purchasing option. An empowered customer base that feels a company will deliver exactly what they want is primed to remain loyal for long period of time.