Introduction
The adoption of disruptive technology has revolutionized business models around the globe. The advancement of communication and information technology continues to remodel the commercial and entrepreneurial climate; marketing issues, advertisements, accounting, and even issues of transfer pricing have greatly benefited from the advancement in technology. Specifically, the contribution of the internet to business transactions has inspired the growth and development of businesses (Iyer, 2012). This paper seeks to offer a consummate discourse on how the internet has evolved the management of business around the globe. This work shall explore the impact of the inception of the internet in the advertisement.
Reduced costs of marketing
Conventionally, most business establishments prefer keeping their costs of business as low as possible while increasing the profit margins. Advertisement costs of business consume a sizeable fraction of the profit margin. The cost of marketing products is highly dependent on the number of people the message reaches. The internet provides an appropriate opportunity of reaching a considerable number of potential buyers at a relatively low cost. In comparison to other advertisement models, the internet propagates information over a larger area and market (Iyer, 2012). Consequently, the advancement of the market portfolio is set to increase with the proper use of the internet as an advertisement tool.
While other models of advertisement require large sums of investments to initiate, the cost of using the internet in advertisements is low. The costs of ensuring connectivity to the target market are affordable. Phenomena like social media, websites, blogs, and other media have provided very effective avenues where internet advertisement can be done. Organizations that have adopted these internet-advertising models have witnessed exponential growth in their market portfolio. Since several clients are reached, the market base of the company products is heightened but at a lower cost.
Interactive customer response
Customer response is perhaps one of the most significant types of business communication that traders seek. Good advertising strategies should focus on the need to receive a response from the client regarding the products and services of the firm. The internet has provided business organizations with a platform to receive customer responses in real-time. Businesses are capable of addressing very critical issues about their products and services when the communique cycle is superb (Iyer, 2012).
Evaluation of business growth is wholesomely dependent on the responses from the clients. Likewise, the assessment of the efficacy of any advertising process is reliant on the responses received from the clients; it is, therefore, noteworthy that businesses must appreciate these customer responses. The effect of these client responses on the business cannot be gainsaid, it improves the customer–business relationship and enhances the customer value relationship. Businesses that take their customer responses seriously improve their kindred with the clientele. Such organizations are likely to have an exquisite customer review. Because of good customer reviews, the organization is likely to increase its market niche; consequently, the revenue portfolio is likely to be increased.
Target audience
The concept of advertisement in commerce is targeted at reaching a vast number of audiences. There is a need to widen the audience to make the products popular within a market stratum. Internet advertisement is popular with the youthful, technologically perceptive generation. This market “community” is very crucial for any business that seeks to expand its market on the global platform. The inception of social media has further influenced the efficiency of internet advertisement.
The popularity of the internet makes it fodder for advertisement. Pundits assert that the “congregation” of the target audience online makes it a very effective model of making adverts. Moreover, business organizations are capable of undertaking “structured” internet advertisements. Structured advertisement targets a specific cohort. The internet platform is fundamentally customized to meet the expectations of these cohorts (Jones, 2009).
The target audience of any advertising program in business organizations is a subset of the profitability of the business. Exploring the nexus between the audience of the business advertisements online and the growth of the business is, therefore, very significant in business analytics. It is, thus, important to note that because of an increased number of the target audience, the organization is strategically placed to brand itself amongst the prospective clients. A “popular brand” is a marketable brand in the business. The internet thus provides a very tangible foundation of ensuring that a large number of clients are reached and with the right message (Iyer, 2012).
Nevertheless, even as the organization heaps from the benefits of a huge market audience, the emphasis on the target group must also be considered. As mentioned earlier in this dissertation, any intelligible marketing procedure must take into account the composition of the audience in terms of age. Internet advertisement invariably offers business organizations an opportunity to focus their message on a specific cohort and model their message strategically and appealingly (Jones, 2009).
Conclusion
The relevance of the internet in the contemporary business template is eminent. The internet provides an effective model of injecting efficiency in the advertisement as a component of businesses.
References
Iyer, G. R. (2012). Internet-Enabled Linkages: Balancing Strategic Considerations with Operational Efficiencies in Business-to-Business Marketing. Journal of Business-to- Business Marketing, 11(1-2), 35-59.
Jones, S. K. (2009). Business-to-business Internet Marketing: Seven Proven Strategies for Increasing Profits Through Internet Direct Marketing. New York, NY: Maximum Press.