Web 2.0, E Commerce & Internet Marketing

1877 words - 8 pages

WEB 2.0, E-COMMERCE & INTERNET MARKETINGRyerson University, Toronto, CanadaCourse: CMKT530 DE ESSAY I - Winter 2009Instructor: Professor James W. PersleySubmitted by: Robert Watson, Student ID 002736544Date: Friday, February 20, 2009The ever-changing face of the Internet, the constant user increase and the consistent growth of online sales and revenue, combined with the evolution of new convergence gadgets, are evidence of the power of the Internet. As will be seen, this power reaches even further and has replaced traditional marketing activity, in an effort of advertisers to break into and create new markets.With Web 2.0 there has been a significant shift from sellers to buyers, giving the consumer greater control over the flow of information, i.e. "individuals have more power than ever before." (1) From a marketing perspective consumers don't just get a promotional flyer in the mail anymore, but now have an interactive e-card which they can modify, design and personalize, sending it to a single or multiple user base via email; Hallmark is such an example, but even children can use a similar technology when sharing e-cards, avatars, 'Webkinz' or coupon cards for "Little Pet Shop," often to the dismay of protesting parents "worried that the ads represented a fast track for future advertising." (2) A positive side-effect for marketers and e-marketing efforts of companies is increased traffic to websites hosting their services and making additional offers, while generating new sales.Another aspect of Web 2.0 is the substitution of the traditional letter sent in a physical mailbox. Today we have blogs and interactive electronic journals that can be updated anytime and sent as RSS-feeds, along with banner ads, ad logos, sweepstake options and virtual mini-games. Prominent examples are livejournal, google, MSN or Yahoo blogs; these are havens for advertisers since sophisticated software targets the potential customers based on user-behavior and the infamous 'cookies.'Finally, a Wiki - the "workplace poster child" of Web 2.0 (3) - can be used to target consumers as well. Wikis are not only used for collaboration, i.e. creating a modifiable shared piece of digital data, such as an encyclopedia entry, but are used for e-marketing purposes. By cashing in on people's desire and ability to work together, marketing occurs both at 'open' and 'hidden' levels. "Yahoo Answers" is an example of the 'open' level, since the ads just pop-up everywhere. A website operating at a 'hidden' marketing level is "ThisNext," a social network where people exchange shopping leads."(4) While some see nothing wrong in having people work for free, recognition or praise, the website is a data mining cache for e-marketers of all backgrounds. This trend reveals the power of the Internet as it has evolved from traditional marketing activity to truly solid business: "Traffic on 'ThisNext' is soaring, with unique visits nearly tripling in a year, to 3.5 million monthly. Revenues...

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