Digital Marketing And Ecommerce Flashcards
Define digital marketing
The use of digital channels to promote or market products and services to consumers and businesses
Define e-commerce
Buying and selling a product through an electronic medium, e.g. the Internet
Define SEO
Search engine optimisation – the goal of SCO to optimise content in a way that makes appear among the first results on the results page of such engines
Define content marketing
Content marketing: a marketing strategy used to attract and retain an audience by creating and sharing relevant articles, blogs, videos, podcasts etc. Instead of advertising products, you are providing content to customers/potential customers. This approach promotes brand awareness.
Define viral marketing
Viral marketing: The name refers to how consumers spread information about a product with other people in their social networks.
Define influencer marketing
Influencer marketing: A form of social media marketing that involves endorsements from
“influencers”. These are people who may possess (or claim to possess) an expert level of knowledge and/or social influence in their respective fields.
How has digital marketing and e-commerce helped businesses?
Wide range of customers reached increasing the number of sales for a product
-24 hour services – convenience which leads to more sales
-gather information/data about customers quickly you can build relationships to customers by tracking their buying habits and recommending other products
-target certain customers
-involves customers and allows businesses to receive feedback from them e.g. product reviews , ideas
-Allows global sales
-Social media means cheaper promotion
Define CRM
Customer Relationship Management (CRM)
Software that allows businesses to better understand their customers by collecting and analysing data on them such as their product preferences, buying habits etc. It is often linked to software applications that run call centres and loyalty cards.
What do firms use CRM to do?
Firms like Amazon use CRM to do things like:
Email customers with recommended purchases.
Recognise the customer as soon as they log in.
Present customer-targeted web pages, promoting items likely to be of interest.
Be ready to accept orders without having to re-enter all the payment details.
Offer promotions and incentives.
Manage loyalty programmes.
Manage prices - not all customers have the same pricing.
Contact customers for feedback and surveys.
What type of companies use CRM?
Although CRM systems have tended to be used by major companies, systems are becoming available that are affordable to smaller businesses.
What are case studies on successful / failed online services?
Successful – vintage, Amazon, boo-hoo, eBay
Xiaomi – direct sales, sell online, only demote one percent of revenues their marketing, extended product range to other digital devices, benefit from feedback – save cost by promoting by social media
Failure – Morrisons (behind an e-commerce)
HMV (lost sales due to downloads)
Businesses won’t be allowed to see teenagers, gender or interest they can only segment by age and location
How does technology affect the marketing mix ?
Price – dynamic pricing changing price depending on when someone is searching
Promotion – cheaper promotion through social media and it’s more targeted for example of certain advert pops up. If you click on a certain link recommendations can then be given.
Place-increase distribution channels and online sales allows global sales 24/7
Process – saves all information self checkouts and stores mobile phone payments
Physical environment – websites can be developed to complement physical stores or create brand image
