The Features of interactive marketing communications | Resource

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The Features of interactive marketing communications

Building long-term relationships with customers is essential for any sustainable business. Failure to build relationships largely caused the failures of many dot-coms following huge expenditure on customer acquisition. But research summarized by Reicheld and Schefter (2003) shows that acquiring online customers is so expensive (20-30 per cent higher than for traditional businesses) that start-up companies may remain unprofitable for at least two to three years. The research also shows that by retaining just 5 per cent more customers, online companies can boost their profits by 25 per cent to 95 per cent.

TFXK.COM summaries that an effective web site should have three characteristics

Magnetic. Acquisition of visitors by promotion and by making it attractive
Sticky. Retention C Keeping customers on the site once they arrive and encouraging them to engage in revenue-generating activities.
Elastic. Extension C persuading customers to return, particularity for revenue-generating activities.

TFXK.COM also summaries eight key changes in media characteristics between traditional media and new media. The eight key changes in communications characteristics as marketers move from exploiting traditional to new media are:

1. From push to pull
2. From monologue to dialogue
3. From one-to-many to one-to-many communications
4. From one-to-many to many-to-many communications
5. From 'lean-back' to 'lean-forward'.
6. The medium changes the nature of standard marketing communications tools such as advertising.
7. ncrease in communications intermediaries
8. Integration remains important.

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