Wymbs Marketing Blog » miszpatricia

Class 26: Web Metrics 12/8

miszpatricia — Sun, 21 Dec 2008 23:30:49 +0000

1. Describe the similarities and differences between server log, coded page and panel data. Which do you think is most useful?
Server log: Log on the server that stores information whenever a file is requested from a site
Panel Data: the process for using panel data to generate site effectiveness data is the same as using panels in the general marketing research process. The first step is to recruit a statistically representative panel of internet users who agree to participate in the data collection. Specialized software is downloaded onto the participant’s computer to record the click stream data. The software is polled at regular intervals to upload the data. First, the source of the data is unambiguous, which it often it not with server logs. Second, a person who uses the internet from both home and work is two separate people according to server logs, but carefully planned and maintained panel data can overcome this issue. Third, the measurement firm can collect demographic and behavioral data from panel households that can be useful in reporting and analytics.
Coded pages: the use of coded pages is a new method of collecting data, on the “browser (user’s) side” of the information transaction instead of on the “server side” The tag part of the page that is requested by the served to the user’s browser. The file then sends data back to the server. Working with cookies, the tag can send back detailed information about the visitor’s activity on the page. One the surface, the data are the same as those collected by a server log. Data collected by tags has several advantages over server log data: the data may be more accurate, data collected by web bugs has smaller storage requirements because it stores only relevant data, and when data are collected in this manner, it permits real-time processing and viewing of site metrics.
2. What are some of the specific metrics that measure Internet traffic, audiences and campaigns. Which ones do you think are most important?
Hit counters: a hit counter is a small piece of software that can be added to a web site to provide a few basic metrics. It measures the number of visits to the site. Users can generate reports from those counters.
Server log files: server log files are created by the server that houses the web site. Each time a browser requests a file in order to build a web page, it generates an entry in the server request log.
Coded pages
Cookies: cookies are small data files that are stored on the user’s computer and transmitted back to the web server. Cookies can identify visitors. If not, the cookie can assign a unique number to identify the visitor
3. What kinds of variables are needed to measure the effectiveness of branding efforts on the Internet? Where are these measures obtained?
Report Dashboard – a dashboard is a customizable display of summary data on a computer screen. Because the summary data are always present on the specified screen, it prevents the user from having to activate a function or program or visit another website to obtain data. The data is essentially in real time, although like another other continuous info provision (stock markets, etc) there may be a short time delay.
Marketing Campaign Reports – To get an idea of the number of reports available in a single category. It shows the marketer can produce comparative reports by selecting 2 time frames for comparison of a particular reporting item. The Campaigns report itself can be configured from many online and offline possibilities ranging from direct mail to advertising on specified site to affiliate referrals and many more.
Browser based reports – Shown in browser format. The marketer who subscribes to the service simply enters any page in the sire, and the data will be displayed. Another panel shows the specific sites from which the visitors come, search engines, affiliates, newsletters and so forth
Path analysis – Shows the path a user takes to get to the end (ie: a purchase). In general, people backtracking and experiencing navigational problems. Marketers need to examine each data point with care because it could mean a variety of things. At that point, a marketer should employ usability research or conventional marketing research to determine the problem and the best way to solve it.
Segmentation by behavior and channel – Being able to segment visitors, by behavior pattern or by information provided by the visitor, is important to many types of marketing decisions. If there is a difference between the pages most viewed by demographic groups – ie men, women, and teenagers – the site will be able to charge more for advertising that is able to target a specific demographic. Tracking customer behavior across multiple channels is even more difficult

Class 23: The Wireless Future 11/26

miszpatricia — Sun, 21 Dec 2008 23:29:54 +0000

1. Explain the nature of the consumer adoption process. How is it different from the concept of diffusion of innovations?
The customer adoption process: stages a consumer goes through when confronted with a new product or service. According to the adoption process, the consumer must first become aware of the product; then develop an interest in it; perform some pre-purchase evaluation; and then try the product, either as a consequence of a purchase or of a marketer-sponsored promotion or incentive. Two importance stages follow trial. First, the consumer must decide to purchase/continue purchasing the product, which can be behaviorally identified as adoption. A harder to discern stage is that of internalization, in which the product has become an integral part of the consumer’s lifestyle. The internalization stage is particularly important in the case of technology.
The consumer adoption process is a generally accepted conceptualization of the stages a consumer goes through when confronted with a new product or service. The consumer must become aware of the product, develop interest, perform a pre-purchase evaluation, and then try the product, either as a consequence of a purchase or of a marketer-sponsored promotion or incentive.
The diffusion process is a communications model and consists of four elements: the innovation, communication channels, time and the social system within which the innovation is spreading, concept shows a process that is normally distributed around a population mean.
The degree to which an innovative product or service possesses these characteristics determines the ease with which it is adopted and diffused throughout the population. Older products such as the automobile and telephone were slower to diffuse through the population than newer ones like the Internet and cellular phones. In this fast-paced environment, marketers must develop and successfully commercialize new products. However the consumer adoption process explains consumer behavior and how consumers adapt to a product, while the diffusion of innovations describes the life of a product over time.
2. Define “pervasive computing” in your own words. What changes is it likely to bring about in the way marketers approach the Internet?
Pervasive computing is a post-desktop model of human-computer interaction in which information processing has been thoroughly integrated into everyday objects and activities. As opposed to the desktop paradigm, in which a single user consciously engages a single device for a specialized purpose, someone “using” ubiquitous computing engages many computational devices and systems simultaneously, in the course of ordinary activities, and may not necessarily even be aware that they are doing so. Pervasive computing devices are not personal computers as we tend to think of them, but very tiny – even invisible – devices, either mobile or embedded in almost any type of object imaginable, including cars, tools, appliances, clothing and various consumer goods – all communicating through increasingly interconnected networks.
3. Be prepared to describe the strategic drivers of wireless adoption and to give an example of each.
~context: providing necessary information when and where the customer needs or wants it
–localization: the location of the user can be identified and information specific to that location can be provided
–personalization: the customer can select not only the type of information desired but also the frequency of information provision
~time sensitive: information must be provided at the time appropriate to the customer.
~high value: coupon has reasonable value
-voice activation: solves accidents when people drive while using cell phones or texting.
~one-click payment mechanisms: a system is which payment is easily and securely authorized and billed to a single account will be necessary to enable frequent use of m-commerce services (credit card info)
~security: users must be assured that data transmissions are secure, and authentication services must be provided in a way that is suitable for the devices
-privacy: protect personal data
~expanded permission marketing: what kind of information is consumers willing to receive, how often they are willing to receive transmissions, and where they are willing to receive it. Accurate customer database required.

Class 22: Marketing Automation 11/24

miszpatricia — Sun, 21 Dec 2008 23:29:38 +0000

1. What do you think the future holds in term of knowledge management and use in the marketing applications?
In the future, many more companies will have extensive customer facing knowledge systems. This will provide the customer with a better experience if all systems are integrated or able to communicate with each other. The future also includes the addition of tactic knowledge, the knowhow of individual workers into knowledge management, which will also provide a better customer interaction with the system. You need detailed set of guidelines for using knowledge from several sources to provide the products, services, and support customers need. Processes have become the key unit of analysis for improving quality and for implementing automated systems. It is not the individual step in the process that is most important; it is the smooth functioning of the entire process that is critical for success. Problems with missing data: be patient, data can be obtained over time in the normal course of business. Infer if needed. The alternative is to exclude a consumer from any age-related promotion, if you’re not certain with age. TACIT KNOWLEDGE: knowledge that has not been articulated; often subconscious and relatively difficult to communicate to other people. Askjeeves.com allows user to makes their queries in natural language. EMAIL systems require both sophisticated technology and a great deal of customer-relevant knowledge to perform well.
Knowledge management  Marketers are interested in a narrower set of activites that focus on integrating front and back office services and delivering information to customer service personnel abd decision makers when and where they need it. They’re concerned about the customer experience and realize they must deliver it seamlessly through multiple channels at times and places demanded by the customer. USABLE knowledge in 2 key ways: 1. to enable human agents to do their work better, faster, and in a way that provides maximum customer satisfaction 2. to create automated systems that perform at least as well as the most skilled human agent
automation – replacing manual tasks and processes with computers and computer-controlled equipment. Marketers can use knowledge based systems for a variety of internal purposes. Technology is available to incorporate knowledge into customer-facing systems in many ways. Great efforts are required to build systems to support specific processes such as a mortgage loan application. Much of the effort involves integrating many formerly disparate information systems within the enterprise so that they work smoothly together to provide a seamless customer experience.
2. Specific encounter  chase/amazon vs. inkjet.com [wrong ink, sent back via mail, long time, sucked a lot :T]

Class 21: Customer Service and Support – 11/19

miszpatricia — Sun, 21 Dec 2008 23:29:25 +0000

1. The internet has the capacity to increase customer expectations about service levels and also to be the vehicle that delivers service that meets or exceeds those expectations. Take a position on this statement and be prepared to discuss it.
The internet has the capacity to increase customer expectations about service levels and also to be the vehicle that delivers service that meets or exceeds those expectations. Internet in general has made enormous changes in the way customer service is delivered. So yes the internet does have the capacity to increase customer expectation to even an extreme, at times making it a little more difficult, with the rapid growth of the internet, to either meet or exceed these expectations. A while ago before internet, it was always the smiles and the personal answers to a customer’s everyday questions, now that we have the internet, it has to become more than just only that. Customers demand more service and support at the same time technology enables companies to provide them in a cost-effective manner. Of course, the internet contributed to increasing customer expectations about service quality. Not only do customers expect good service but also expect to be able to access this service through multiple channels, whether its by email, live chat, telephone call, self-service on websites, and etc.
2. What is the concept of anticipatory customer service? What role can it play in successful customer service delivery?
Anticipatory customer service is the concept of being proactive, not simply waiting passively until customers want service. Companies must anticipate potential problem areas before they become troublesome, develop solutions, and provide service that exceeds customer expectations. Forrester Research says that a firm needs to do 3 things in order to implement anticipatory customer service: (1) build customer scenarios, using data including call center reports, e-mail logs, chat transcripts and web site software that can report unusual volumes of activity and uncover patterns in day-today service queries. (2) Make customer service pervasive by fulfilling common request before the customer even asks ad ensuring that service is readily available throughout the value chain. (3) design the service process for “seamless escalation”  firms must guide customers to the service they need without having to move through frustrating layers of info that does not fit the needs of the customers
3. Can you identify any ethical issues that are inherent in sophisticated customer service programs?
Privacy issues, ownership, control, accuracy, and security.

Class 19: Designing a Marketspace Matrix 11/12

miszpatricia — Sun, 21 Dec 2008 23:29:10 +0000

1. What is a buyer-seller relationship? How can it vary?
a. A relationship is a bond or connection between the firm and its customers.
b. This may be strong, weak or nonexistent.
c. It can be based on logic or emotion Logical bond – realization that a customer simply cannot get a better product elsewhere. Greatest potential for strong buyer-seller relationships exists when the product is an important part of consumers’ lives.
d. Buyer-seller relationships are based on exchange, where each party expects, or perhaps even demands value for what is given (i.e. money for products).
e. Firms want a relationship with their customers, even though it is not always cost effective.
f. Firms must understand that not all committed customers are equal, and relationships that bring no benefit to the firm should be dissolved.
2. Why is integrated lever selection important in a marketing plan?
Selected Levers must be integrated in two ways: Levers must match the positioning and targeted segment & Online and offline levers must be integrated as well. The chosen levers should reinforce each other to maximize the effect of the marketing plan.
3. How did eBay’s application of the Marketspace Matrix change over time?
a. Ebay began to utilize more levers, and the additions were focused in two places: the commitment column in the matrix became heavily utilized, as did the community row.
b. Ebay did also seek to drive awareness and exploration among new users, but the firm designed the bulk of the new levers added to the matrix to advance users to the commitment stage and keep them there.
c. Having nearly perfected its community and ability to retain customers, eBay requires new buyers and sellers to continue its history of growth.
d. Pursued international strategy through building international sites and acquiring competitors.
e. To increase core business in the US, eBay has stepped up efforts to win new users.
f. Television campaign in late 2000.
g. Promote ancillary services including a bill-paying service called Billpoint which competes with PayPal, which allows anyone with an email to receive a payment.
4. What are the four categories of principles for lever selection?
a. Which levers are customers most responsive to?
b. Which levers are least likely to generate a competitive response?
c. Which levers work best together?
d. Which levers are consistent with strategy?
5. What are the key principles for lever selection within the Marketspace Matrix?
The key principles for lever selection within the marketspace matrix are Choose Levers to Effect a Change, Determine Which Levers Have the Most Leverage, Consider Barriers to Advancement, Consider the Medium’s Effect on Desired Behavior, Level of Involvement Matters, Understand Consumer Learning Trends, Credibility of the Channel Matters, The Choice of Levers Must be Consistent with Positioning Choice, The Medium can be the Message – or the Product, Matrix Design Must be Adaptive

Class 18: Distribution – 11/10

miszpatricia — Sun, 21 Dec 2008 23:28:42 +0000

1. Is the Internet a distribution channel?
The internet is a distribution channel because it’s able to facilitate the exchange of goods and services between a buyer and the seller. A distribution channel is the system of organizations involved in the process of making a product or service available for consumption or use. Marketing channels therefore facilitate the exchange of goods and services between buyers and sellers
2. What are the functions of channel intermediaries? Objectives of Channel Intermediaries:
Efficiency: Distribution costs are reduced only if the retailers can perform the required functions more efficiently than the manufacturers could in the direct channel
Effectiveness: the ability of the channel to perform functions that create value for customers.
3. What is disintermediation and what are its implications for channel intermediaries and customers?
Disintermediation – a strategy that involves the elimination of a channel intermediary. Internet has become a driving force for disintermediation. Overall result is positive because channel works more closely to create value for customers. The Internet enables firms to interact at a much lower cost and higher speed than ever before. Frequency and complexity of communication between buyers and sellers, but tighter links between channel members which facilitates lower inventory and shipping costs.
4. What are the distribution levers and how do they affect relationships between intermediaries and buyers and sellers?
Awareness
Number of Intermediaries  Intensive distribution strategy should lead to greater awareness because the firm is accessible via more outlets. Nearly all distribution in the online world is intensive because of the Internet’s massive reach. However, participation in affiliate programs is one tactic that increases distribution intensity.
Number of Channels/ Intermediary Type  Given that different customers are likely to shop at different channel types, a greater variety of distribution channels increase market coverage and therefore awareness.
Exploration/ Expansion
Degree of Channel Integration As integration increases, the willingness to explore the potential for a relationship should increase. Very simply, integration increases the level of customer service, which increases the attractiveness of the firm as the relationship partner. Also important is the effect of channel integration on the reliability of customer service. Relationship quality comes not only from the level of the customer service, but also from whether the customer can count on the service from interaction to interaction.
Number of Channels/ Intermediary Type Likelihood of exploration increases as the number of channels increase Firms increase exploration and expansion of the relationship by ensuring they target their customers correctly. By understanding the needs of each target segment, the product or service can be delivered through the most appropriate distribution channel. As the perceived value of the product is enhanced, the willingness to explore increases.
Commitment
Degree of Channel Integration  The channel environment must be integrated for customers to commit. Customers expect to be treated in a holistic sense, rather than on a per-transaction basis.
Intermediary Type  Making a commitment to the firm requires trust and so the selection of the channel should be affected by the degree of trust that is associated with the alternatives. Another issue is the ability to form buyer-seller relationship in an indirect channel. Manufacturers that go direct have greater control over the brand’s marketing strategy and are more likely to generate commitment.
Number of Channels While a major advantage of employing multiple channels is the ability to appropriately serve multiple market segments, this strategy can also increase customer commitment within a segment. Customers often have different buying requirements based on the purchase situation, and their requirements can evolve over time as they grow older or their life situation changes.
Intermediary Functions and Responsibilities  The firm can enhance customer value and strengthen commitment by using market research to understand customer perceptions of service quality. Other channel functions and responsibilities that can lead to greater commitment include customer representative training, sales incentives that focus on customer satisfaction and increased margins.
Dissolution
Elimination of Channel Types Some customers, particularly those who find value in the functions carried out by the channel type that has been eliminated will complain or leave.
Reduction in the Number of Intermediaries Customers will find it more difficult to purchase the firm’s products and will complain or exit.
Reduction in Channel IntegrationBy customers being treated based only on part of their transactions, they are less likely to feel connected to the firm or brand, and dissolution is likely to follow.

Class 17: Community 11/5

miszpatricia — Sun, 21 Dec 2008 23:28:21 +0000

1. What is the definition of community? A set of interwoven relationships built upon shared interests, which satisfies members’ needs otherwise unattainable individually.
2. What are the criteria that define successful community?
a. Membership is a conscious choice.
b. Member base has achieved critical mass and sustainability.
c. Members feel a great sense of trust.
d. Members achieve benefits in scale.
e. Roles are not hierarchical or imposed.
f. Effective facilitation and site structure keeps community activities on track.
g. A spirit of participation and feedback is clearly cultivated.
h. A sense of affiliation is achieved through ownership of equity in the community.
i. Efficiency in interaction is maximized.
j. The community is easily navigable.
3. What are the different types of interest that form the foundation of community?
There are three broad types of Communities, differing by their foundation of shared interests: 1) Information-driven communities, 2) Activity-driven communities, 3) Commonality-driven communities
4. What are the different ways in which communities’ function?
a. Real-time systems > Internet Relay Chat (IRC), Web-based chat, Virtual worlds and MUDs (Multiuser Dimensions)/ MOOs (MUDs Object Oriented)
b. Activity-driven communities- Shared interests in activities. (ex games, shopping)
c. Commonality game- shared interest through professions, lifestyle stages, and ethnicity.
d. Information-driven communities- shared their interests in information and they seek to exchange this information. (ex Wikipedia)
e. Asynchronous systems – Mailing lists, Newsgroups (Usenet groups), Web-based message boards (bulletin board systems [BBS])
5. What are the three primary ways in which value is created within a community?
a. User to user- the user makes content.It can be through sharing ideas, information, etc)
b. administrator to user- the firm creates the content like reports, exclusive research, etc…
c. User to administrator- the customer makes money for the firm by the purchase of products. Usage fees, content fees, advertising sales and also through commissions
6. What are the benefits that community can generate for a parent firm?
• Cost Benefits
– Reduced Customer Service Costs
– Reduced Customer Acquisition Costs
– Reduced Costs from Decreased Product Flaws and Marketing Mistakes
– Reduced Marketing Costs
• Revenue Benefits
– Increased Customer Segmentation and Customization
– Increased Branding
– Deepened Customer Relationships
7. What are the different levels of community?
Nascent level – run by community founders and a small portion of main participants (the start up)
Formative level – marked by growing membership and evolving goals (development)
Mature level – In this stage it to ensure feedback and maintain it (change and maintenance of the site)
The additional levels include: awareness, exploration, expansion, commitment, & dissolution.
Awareness- the user becomes aware of the community.
Exploration/expansion- this happens when the user starts to become involve they become a part of the novice stage.
Commitment- In this stage the user makes the most value.
Dissolution – there is a possibility to satisfy the customer dissatisfaction if the customer is treated with the same attention when they entered.

Internet Marketing Brings In The Bucks

miszpatricia — Fri, 12 Dec 2008 01:52:52 +0000

Cybertegic.com’s Free Internet Marketing Training Seminar Aids Companies in the World of Online Advertising

Cybertegic.com, one of the leading internet business consultants, recently conducted a free internet marketing training seminar to teach companies top marketing strategies that will help generate sales and increase visibility on the World Wide Web. Due to its success, another seminar is already in the works for top executives to attend to in the near future.

City of Industry, CA (PRWEB) December 10, 2008 — Despite news of recession threatening companies, it never hurts to invest on internet marketing services that will help generate company sales in the long run. Today, nearly all businesses are engaged in e-marketing, also known as online marketing or internet marketing. No matter how small, target-specific or local a business is, internet marketing is already an essential part of their campaign to promote their products and services over the web.
To help businesses earn more and generate sales, Cybertegic.com, one of the leading internet marketing consultants company, recently conducted a free internet marketing training seminar intended to aid companies to stay ahead in today’s tough economy. Held in Hilton Hotel, San Gabriel, California, the seminar focused on hard hitting internet marketing tactics designed exclusively for businesses who want to learn top internet marketing strategies to grow online sales and outperform competitors.

The session also trained executives and marketers on scalable solutions to overcome traditional challenges of visibility, ranking and growing sales online on internet marketing. Furthermore, the gathering also discussed effective strategies and tips to budget and control internet marketing costs while boosting online profits.

Introducing insights on the world of internet marketing, the seminar offered participants training from real experts on how to expand internet marketing reach by increasing online visibility which generates thousands of free organic leads & web traffic, boosting new sales fast & securing repeat business easily. A special offer also gave attendees free one-on-one business evaluation, keyword market research report as well as competitor industry market analysis report.

Due to the success of the free internet marketing training seminar, Cybertegic is already brewing a future gathering once again for top executives to learn efficient internet marketing services designed to bring in more sales and online visibility for companies in the world of internet marketing. Bring your company to the forefront and witness the growth of your business with the help of Cybertegic, a leading internet marketing consultant company.

About Cybertegic.com
With headquarters in Rowland Heights, CA, Cybertegic is an ecommerce development company that specializes in advanced Internet marketing services and in the development of complex e-commerce stores. The company specializes in all aspects of internet marketing services like search engine optimization service, pay per click advertising service, and email campaign service, and much more.

SOCIAL NETWORKING SITES & PR

miszpatricia — Wed, 03 Dec 2008 15:00:01 +0000

How to Use Social Networking Sites for Marketing and PR

By AllBusiness.com

Published: December 2, 2008

Social networking sites such as Facebook and MySpace have become the party lines of this young century. They are inviting and intriguing and a powerful communication tool. Learning how to use them wisely for marketing can increase your business profile.

Jiyan Wei, product manager at PRWeb, an online press release marketing service, is a fan of social networking sites. He has formed a group on Facebook for PRWeb that includes journalists, bloggers, and others in the media industry who use PRWeb as one of their sources for information. Rather than sending this group traditional, impersonal press releases, he uses it for smaller announcements. “If we’re going to have a booth at a trade show I’ll send out a note to the group and invite them to stop by,” he says. “Often someone will post a casual comment or ask a question. If it’s too long, I take the conversation offline.”

Wei is also a member on LinkedIn, which in contrast to MySpace and Facebook is used almost exclusively for professional networking. Users understand members sign up to promote themselves for career development first, their companies second. The quality of the network you create lies in the quality of the contacts, not the quantity. Krista Canfield, LinkedIn’s public relations manager, suggests you treat your contacts like you treat your Rolodex. “You wouldn’t hand over your Rolodex to everyone you meet at a conference,” she says, noting once you make a contact, that person has access to your network.

Once you’ve established a list, be judicious how you use it. You can send notes to your contacts but if you send too many, those notes are not as likely to get read or you might even be dropped as a contact. Use the list for small announcements: events, job openings, or vendor recommendations.

A secondary level for outreach is LinkedIn’s Groups. Currently there are more than 150,000 groups, including business forums, alumni groups, fan clubs, and conferences. If you run an interior design firm, or sell to interior design firms, you can choose from nearly 90 groups catering to that field. Some are credential-based; some are based on geography. The group “owner” approves your membership to ensure validity.

Another way to build your credibility on LinkedIn is by participating in its Answers forum. For instance if you are a travel agent you might want to visit the Business Travel section to see if you can give any advice. Canfield suggests using the soft sell. “Approach the discussion as you would at a business lunch,” she says. “You know people are there to further their businesses and make good contacts, but you need get to know them a bit before promoting your services.” Another tip: check out their public profile before engaging them in a conversation. Chances are you might have a connection, whether it’s a college, a personal interest, or a shared skill such as speaking the same foreign language.

For the long term, the value for marketing on social networking sites may be simply the ability to reach niche groups via advertising. Most of these sites have targeted text advertising with fees in reach of small businesses. LinkedIn’s fees can be as low as $5 for 1,000 impressions and allow users to set a budget. Advertisers can choose two of seven criteria to target, including geography, industry, seniority, and company size.

This article proves that marketing services are realizing the power of social networking sites and are taking advantage of them.

Online marketing will “expand in recession”

miszpatricia — Mon, 01 Dec 2008 18:01:24 +0000

This article is about the effect of the recession on internet marketing. It is obvious that the lack of funds for advertising due to the recession will lead to more advertising online.

Online marketing will “expand in recession”

by ClickThrough | 28 Nov 2008

Internet marketing will expand during the online recession, a magazine has asserted.

According to the Economist, spending on internet advertising is much less speculative than other methods – with the publication adding it starts to be treated as a cost of sales instead.

The magazine goes on to say this is one of the reasons why online methods should suffer less than other sorts of website marketing.

It continues: “In short, online advertising will continue to expand in the recession – just not as quickly as previously expected.”

Noting a change of internet marketing trends since 2002, the magazine adds: “Back then, gaudy display banners on web portals such as Yahoo! and MSN were the preferred technology.”

The Economist goes on to say that such advertising still exists, but now accounts for less than 20 per cent of online advertisement spending.

In other news, a survey by digital online content specialist Whatsonwhen revealed the travel industry is to maintain its internet marketing spends.

News brought to you by ClickThrough – a best practice Internet Marketing Agency.