Emarketing is an implication of the internet to achieve market objectives and social media is one of many subsets in terms of the application of the Internet which can be used to accomplish market objectives. The organization uses social networks such as Facebook and Twitter as a means through which they can implement their market strategies with the use of the internet more effectively. The best market objectives are one that allows the company to attract new customers while making sure that the existing customers are content with the products provided. Therefore, companies need to choose the most suitable platform to accomplish their market objectives. Online marketing can be of tremendous benefit to the organization as it’s very cost-effective in usage.
Firstly, it allows the company to access the information in a very short amount of time with the surplus being the most cost-effective method, and also enables the company to search for suppliers at a much lower cost in comparison to what it costs the company before as there are no geographical barriers in online marketing. However, with these benefits, there are many flaws in using online marketing as well.
The first issue is the cultural and language barriers which make it difficult for the organization to gather data from different countries. Moreover, there is no way to assure that the person who is conveying the information is the one who he says he is.
Emarketing
To bring value to the business, it’s crucial to establish a relationship between the brand of the company and the online community and for this social media holds significance importance. For developing and maintaining a relationship with the right customer, companies need to know how to use social networks efficiently.
To find the right customers, companies need to select the most appropriate social networking websites. This will allow the company to attract quality markets and maintain its relation with its clients by focusing on the right groups of online people.
To further explain this model, we can relate it to the sales funnel. To monitor the sales, we use the funnel as a metaphor which is wide at the top and narrow at the bottom. The organization believes that many people at the top of the funnel might need its products and services and to contact them company uses social media to communicate with them. Whereas, at the bottom of the funnel is the amount of sales that the company generates from those customers who value the product of the organization.
Different marketers are promoting their brands and products by using different types of social media networks which are more fruitful in communicating with both present and potential customers.