Internet Marketing †Acquisition and Retention Essay Example for Free

Internet Marketing Acquisition and Retention seekThe methods of canaliseing condescension have really changed as the impact of globalization has ca subprograms several flexibilities and easiness in our lifestyles and fooling life. Many businesses find it costly to open it in a physical location and expanding through outlets, which frequently does not aspire large audience. Therefore, many businesses atomic number 18 starting through internet where they can target customers from all over the world, foodstuff their products or services easily and economically, and get payments right away.Not still this, those businesses that do not operate virtually and have physical locations are finding it to a greater extent in force(p) and financially beneficial to market their products through internet, and that what is called Internet Marketing. Internet marketing also contains the elements of Direct Marketing, where the packaging of products is done online such as, websites (Res earchStarters, 2008). It does not mean that when businesses are started online they would always save costs and be fortunate in fact, many businesses fail due to several factors and one significant of them is poor marketing strategies.Of course, the consumers would not have any idea that a sore business has started that for instance, sells soccer jerseys, through its website. The target market should have to be made aware of that business, the products, new offers/deals, customer value, feedback, etc. Therefore, all this requires the business to utilise effective marketing tools and strategies where it can convey the message to the audience, impress them, convince them to purchase, and provide feedback.Businesses can use online marketing strategies such as, designing websites that grab the attention of the customers at first sight, force them to explore, make them shit that they are everything for the company, provide them with ease in shopping online, and let them return a chan ce to give a feedback. Moreover, businesses can also use the strategy of mass-emailing to the customers or potential customers whether they are individuals or other entities.Placing ads on popular and most-visited websites is another strategy but is quite expensive. And finally, the use of social networking websites such as, Facebook, Twitter, and MySpace, is lucrative since it is inexpensive and targets wide range of audience. Customer Acquisition and Retention There is absolutely no query about the fact that it takes a business much more to spend in acquiring new customers than to retain the old or present customers.The reason being that the acquisition of new customers require the business to conduct market research, target them in a new way, shape the products or services consort to their needs, reposition the brand that might damage it, and shape the marketing strategies accordingly. These all result in occurring more and more costs for the company whereas, retaining old or present customers is quite prolific since they have already tried the products, have an image for it, know the company and its reputation, and most importantly can result in promoting them through word-of-mouth.Other marketing strategies for retaining such customers include offering them membership programs, building good relationships with them, change magnitude the contact with them, asking them for feedback about whether they are satisfied or not, enhancing support for them, and making them realize that they are part of the database and are given importance (Hughes, 2010).Moreover, retention of customers require the company to reshape and bring innovational features and qualities in their products to make those dormant customers restart buying the products if they have stopped to. There is a prescript called 80/20 rule, which means that 80% of the revenue comes from 20% of the loyal customers. Therefore, businesses should not feel bothered if they have to invest more on thos e customers because they are providing them with more sales.So, companies can conduct sales packaging activities or other marketing campaigns for rejuvenating them and milking them. Also, when businesses get to know that their certain customers have stopped buying the products, they should conduct surveys where they should ask the customers what were the reason due to which they stopped buying, what flaw they saw in it, what improvements they want, etc (Businessfast4ward, 2010).