Transcript 9 Web Marketing Principles

Nine Web Marketing
Principles
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Webonomics
This section is based on the book Webonomics by Evan I.
Schwartz
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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.
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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
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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
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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
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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
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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
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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
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Information Rich Products
What is the nature of the offering? Is it a physical product,
a physical service, a virtual service, or intellectual
property?
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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
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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
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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
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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
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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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