Increasing Profits through Internet Marketing

Increasing Profits through Internet Marketing - April 19th, 2010
Where do web based customers make a purchase?

The worldwide web allows businesses to reach potential customers anywhere in the world where there is access to internet connectivity. But the reality is, word of mouth and recommendations of friends and relatives still remains a power full factor in getting new customers to buy a product or service. The challenge is in combining internet contact with personal recommendations of satisfied customers.

The environment in which a potential customer lives can shape his or her attitude and confidence in buying on line. In Singapore for instance there appears to be more internet users comfortable with the idea of buying online then in countries where internet connectivity is intermittent, slower or not as widely available. This may be because there may not be enough satisfied on-line customers to influence the buying decision of potential customers. In such an event a follow up with personal phone calls or the utilization of an established payment gateway can boost confidence for those on the verge of making the buying commitment.

Having a physical brick and mortar store to back up the on-line marketing and sales initiative can also boost confidence of potential customers about to make the purchase decision. It is a good idea to offer both a physical location and an on-line option for the customer to make a purchase and pay for the products or services. On-line marketing can allow for a promotion campaign that leads buyers to physical stores as well as on-line stores.

The advantage of an on-line store is, physical distance is no barrier to making a purchase. A simple click on a button and a product is selected on-line. Another click of the mouse and payment is made. Within days the gourmet Canadian clover honey arrives by courier in a home in Malaysia or Dubai to be enjoyed.

Additional supplies stocked at a local store in Malaysia will mean the satisfied customer being able to replenish his stock within the day if he so wishes. A physical store also means new customers who receive the recommendation of the satisfied customer may also make purchases at the Malaysian store. If the store is not conveniently located then an on-line purchase may be made. In this way an initial on-line marketing initiative could generate sales for both the on-line as well as the physical store. Geographical distance ceases to be a barrier to sales with an on-line presence.

Word of mouth information sharing amongst friends, relatives, neighbours and associates very often have an element of trust founded on the relationship amongst the parties. Trust remains an important factor in giving confidence to potential customers. Hence building a relationship marketing strategy on-line with potential and satisfied customers can help re-enforce confidence in your products or services.

Identify groups of potential and satisfied customers in different geographical locations. Create a marketing campaign that recognizes the specific needs of the different groups in their respective local environments and facilitate inter-action between members of these groups. The satisfied customers just might be the advocates you need that make trusted recommendations to potential customers.

The internet is not just a tool creating new on-line markets but is also a tool that can encourage more shopping at your physical local store. Your customer advocate just might be someone in Canada encouraging a friend, relative or associate in Malaysia to buy your products or services at your Kuala Lumpur store. This is truly a global knowledge economy with tools that can increase your profits exponentially through global internet marketing.

Siddha Param

International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market.

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E-mail:siddhaparam@worldwidebusinessconnection.com

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