Product Marketing in the Virtual World

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With enormous progress of the World Wide Web, the concept of markets has changed drastically. Markets are no longer restricted to a certain territory or piece of land. In fact the WWW has introduced the concept of virtual markets to us. The concept of internet marketing services deal with marketing of the products put on sale online. Internet marketing services brings together both the aesthetic and technical aspects of online marketing like designing, development, advertising and sales.

The several techniques of improving internet marketing services are:

  1. Increase traffic to your website by search engine optimization (SEO). This is achieved by appropriate use of keywords and metatags. With better search engine optimization done by experts, the visibility of the site will increase and marketing of products will get a boost.
  2. Use of techniques like pay per click (PPC) programs can direct more traffic to the website. It acts on the principle of creating ads and linking them to keywords. You only pay if you click on the links.
  3. Use of banner ads, running vertically on top or bottom of the web page, or sky scraper ads, running on the left or right side of the web page, are colorful and graphical ways of IM. However, these are old ways and losing popularity slowly.
  4. E-commerce newsletters, emailed to clients, are also great ways of improving internet marketing. They allow development of relationship with clients.
  5. Buying ad space for an online magazine similar to buying space for a print magazine. The amount paid for buying the space depends on how much traffic the magazine generates.
  6. Using online directories is also a useful alternative. A site can be featured in one of the online directories tat ranges from city guides to online yellow pages.
  7. Conducting online auctions are similar to auctions in the real world. The seller quotes the minimum price and interested buyers start quoting their price.

The several advantages of online marketing are:

  • Marketing not limited to geographical boundaries
  • Cost effective for sellers and buyers
  • Availability, presence and visibility spread over 24 hrs
  • Display of full information and all details of products
  • Increasing returns on investment
  • New markets available to sellers, overseas markets

One thing that is a major drawback to internet marketing is that there is no scope for face-to-face interaction that is available in other real world marketing strategies.

There are certain aspects one needs to be cautioned while buying IM products, ie

  1. Buying from a fake site: Do your background research well
  2. Buy from a trustworthy site: Sometimes the products do not resemble or live upto the promises of the products seen on screen.
  3. Check for guarantee: Make sure you buy a product that offers guarantee.
  4. Beware of internet marketing gurus, who often trap you by their convincing statements to believe in false promises.

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