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Web Marketing: What's it All About 

Web Marketing: Why should your company consider Web marketing? 

Web marketing should only be considered if your company wants to increase profits and increase it’s growth into the twenty-first century. In reality, Web Marketing will allow your product or service to participate in a significant area of growth for the future as well as significantly improve the functioning of your existing business. 

Forrester Research (Liflander, 2000) forecasted that by 2003 the Internet economy would equal approximately 9.4% of the total world economy. While the number of people currently on the World Wide Web is nearly impossible to estimate, Internet growth is noted be exponential, with some estimates being as high as 240 million potential customers now using the Web for their shopping and information needs. International Data Corporation forecasted that by the end of 2001, the Internet economy would total $1 trillion, and that by the end of 2003 it would total more than $2.8 trillion dollars. Web marketing is truly the wave of the future. 

Web marketing: A key to growth 

Web marketing allows companies to target market specific groups in a more efficient way than has ever previously existed. The demographic profile of the typical Web user is perfect for many online as well as “bricks-and-mortar” businesses. Web users are usually college-educated or currently in college.  Higher education has always been  positively correlated with higher income, and an excellent indicator of potential earnings. Web marketing allows access to these higher income, well-educated individuals with more disposable income. 

Customer service can also be enhanced significantly through Web marketing. Many individuals in our modern society require much more than good prices, or unique products.  Many require a satisfactory experience. Many will even pay a premium for services when they feel they are treated well.  Good customer service facilitates return customer relationships, and repeat customers can be a large portion of any successful company’s business.  Web sites can help to build relationships which will satisfy customers desire for efficient and effective customer service.  Web sites providing information on hours of operation and product information can be very helpful, as well as having the ability to interact (e-mail) in a way which may quickly get the attention of someone in a position of responsibility. 

Web marketing can also reduce costs.  Businesses which have implemented Internet-based solutions have seen lower costs in printing, postage, order taking, market research and customer service, while also seeing the amount of items purchased in a single transaction increase.  Recent studies have concluded that online orders can be as much as 4% more profitable than orders placed over the phone or by a catalog.  Internet businesses also save money and reduce labor costs by making information available to customers without taking excessive staff time.  Products can be test marketed on the Internet much less expensively then rolling out a new product or  service line with your “bricks-and-mortar” business. You can also get immediate feedback in an anonymous way in a quick and efficient manner, that is much less intimidating to your customer. 

Finally, Web marketing definitely has the potential to increase sales of your products and services.  Web marketing allows the opportunity to offer suggestions of related items that customers might enjoy in an unpressured way, frequently resulting in increased sales.  Also, information can be provided in a manner that is consistent and professional, which is frequently not available in the off-line “real world”  of employee turnover and personnel issues. 

In summary, Web marketing is the wave of the future in terms of a company’s image as well as increased profits, whether you stay in the world of “bricks-and-mortar” or you join the virtual reality of cyberspace. 

By Paul Susic MA Licensed Psychologist  Ph.D Candidate President/CEO Susic Psychological Consulting P.C. 

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