Beginner’s Guide To Dot Com Riches

Introduction

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Purchasing and marketing patterns have evolved and changed. Year-over-year total retail sales grew 7.8 percent between 2003 and 2004 (based on second quarter earnings). While ecommerce sales grew 23.1 percent year-over-year, according to the latest statistics announced by the U.S. Department of Commerce. Ecommerce sales growth already beat traditional shopping at astounding rates. Businesses that ignore the online customer significantly hinder their overall profitability. 

Why are consumers migrating to online commerce? People are busier, trying to juggle the dynamic demands of career, home and family. Corporations are under intense pressures to improve profits, while employees work harder than ever. Online commerce is convenient, user-controlled and open 24/7 year-round. Consumers aren’t limited by geography, making product and service purchases from merchants anywhere in the world. With this broader reach comes improved selection and pricing – all with one click. 

Business opportunity lies, then, in creating the ideal strategy to reach a refined target audience, expanding marketing reach and visibility. In addition to basic business promotion and advertising, Internet Marketing improves and, in some cases, reduces customer service and relationship management cost. To accomplish their goal, businesses and merchants have many more options than ever before – spanning both online and offline channels. Each strategy has its own uses.  

Websites can improve a businesses image, add value to customer services, offer a new venue for shopping and become a continual and ever-growing brochure or information source. When a website offers frequently updated content, articles or activities, it encourages prospects to come back again and again to learn and discover new things. Each visit becomes another opportunity to solidify brand loyalty and encourage a purchase. Like offline shops and services, every business has to attract the walk-in customer.  

Attracting customer attention is not the same online as we’ve learned to treat it offline. There are no fuzzy hamburger costumes, strobe lights or blimps that span thousands of miles in reach to bring someone in. Similarly, though attempts have been made to combine service and product providers into a mall or industrial complex styled medium, websites largely stand-alone out there. To draw attention into a website, online marketing includes banner advertisements, emails, shopping portals and traditional direct marketing contact such as telemarketing, catalogs and mailers. What could be better in reaching an online customer than using a direct link? 

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