As the Web population hit the hundreds of millions in the late 90’s, more and more companies rushed online to somehow find a way to make money. For the most part, this was to market their products, whether it was clothing, books, music or business to business. It was the new marketing channel. Advances in the underlying technology have made innovative strides in how products are marketed. But herein lies the challenge to businesses, government and organizations today; it’s not just about product marketing. It’s about marketing your whole business. This requires a fundamental shift in approach to strategy for the Web, and represents and exciting set of new opportunities.
Most companies spend large sums in their online strategies and marketing to push products specifically. This is necessary, since product sales should translate to profits. Now however, businesses can truly fulfill what Peter Drucker said about marketing over 40 years ago, that a company must market it’s entire organizational self. This was limited before, in the just the physical world. TV time is expensive and limited in reach, and not very measurable. Newspapers and magazines face a similar challenge, as does radio. The Web now provides the ability to much more cost effectively reach multiple audiences to market the organizational whole.
Marketing on the Web means you can now market to potential employees, investors, media and secondary consumers of your products. You can reach deeper to market to the niche segments that might recommend your product to a potential buyer, and you can engage them for very low cost. You can take advantage of Long-Tail markets for products and services. You can communicate your corporate social responsibility programs and reach new market segments and increase product and buyer loyalty. Even if you only market to say 100 customers. Chances are you have competition; can you forge closer relationships with the ecosystem of that 100 clients than your competitor? Certainly.
Companies that have leveraged the Web to market the organizational whole, and this number is growing, are the ones who will find greater brand awareness, deeper customer relationships and improved sales and economic profit.
