principles of internet marketing

“… identifying, understanding, collaboratively creating, and meeting a segment of human and social needs, wants, desires, wishes digitally.”

Dialogue

One-to-one marketing

Real-time Dynamic

Collaborative

Segmented

Rich customer interaction

Rich customer data

Create new sources of competitive advantageMore direct distribution modelReengineer the supply chainInvent new business modelsTarget underserved segmentsLower price barrierNew delivery methods to reduce capital

expenditure and pricingCreate more efficient marketplaceCreate a “virtuous cycle”

Reduce the risk of guessing by letting the community define the need, want, problem, and value proposition

Speed development cyclesCreate precise features / valueCreate brand advocatesCommunity endorsement

Community and feedback loop integral part of shaping product

Sell your idea firstFind your actors (audience) firstSize does not matter Reduce risk by pushing control outValue creation increases at the edgeDecentralize authority and processTransparency creates valueTruth travels fastPrice alone is not sustainableReengineer your value chain

Skip intermediaries wherever possibleReinvent your business models Change the status quo

Product / service strategy Shared risk through open collaboration

Place (channel) Actors & marketspace Agents

Pricing Hypercompetitive Convert traffic to advertisement revenue

Promotion Community

Customer support 24 x 7 Virtual FAQ, forums, electronic

Almost no feedback loop. Higher risk of innovation and guessing market.

Democratization of 4Ps paradigm Citizen Branding Collective collaboration Collective risk sharing Collective product innovation

Citizen marketers will sell “remarkable” ideasWork backwards

Build your brand around your idea first. If the community you are targeting does not coalesce and rally around the idea, continuing to build the product is irrelevant.

Create your own “blue ocean” If you play it safe and go by rules of your industry, value

chain, and business model – you’re dead! Most industries and markets are saturated and highly

concentrated

Capturing customer interaction creates tremendous value and reduces risk.

New mediums for communicating information virally among your actors.

What does a virus have to do with marketing?

Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message's exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions.

How to sell a soap