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Amity School of Business Amity School of Business BBA, Semester - II E - Commerce Arpan Sinha 1 Amity School of Business Module -3 e-Banking and e-Marketing 2 Topics • • • • • • Amity School of Business Internet Banking Changing dynamic in banking Industry Internet Marketing E-Cycle of Internet Marketing Online Marketing Vs Offline Marketing Challenges of Internet Marketing 3 E-Banking (Internet Banking) Amity School of Business • • • A method of banking in which the customer conducts transactions electronically via the Internet. Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society. Online banking is also referred as Internet banking, ebanking, virtual banking and by other terms. "it's hard to beat e-banking for the 24-hour convenience it offers Internet-literate customers" 4 Features of Internet Banking Amity School of Business • Online banking facilities offered by various financial institutions have many features and capabilities in common, but also have some that are application specific. • The common features fall broadly into several categories: • A bank customer can perform non-transactional tasks through online banking, including – viewing account balances – viewing recent transactions – Downloading bank statements, for example in PDF format – viewing images of paid cheques – ordering cheque books – Download periodic account statements – Downloading applications for M-banking, E-banking etc. 5 Features of Internet Banking Cont.. Amity School of Business • Bank customers can transact banking tasks through online banking, including – Funds transfers between the customer's linked accounts – Paying third parties, including bill payments – Investment purchase or sale – Loan applications and transactions, such as repayments of enrollments – Credit card applications – Register utility billers and make bill payments • Financial institution administration • Management of multiple users having varying levels of authority • Transaction approval process • The process of banking has become much faster 6 Features of Internet Banking Cont.. Amity School of Business • Some financial institutions offer unique Internet banking services, for example: – Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions. 7 Banking Amity School of Business • Banking as a business can be subdivided into five types “ – – – – – Retail Domestic Wholesale International Wholesale Investment Trust 8 Technology effect On Banking Amity School of Business • • • • Controlling Cost Developing of new products and services Interaction between bank and consumer More competition 9 Changing Dynamics in Banking Industry Amity School of Business • • • • Changing Consumer Needs Cost reduction Demographic trends Technology based financial products service 10 Benefit of E-Banking Amity School of Business • Anytime Banking, and anywhere Banking • Online Banking is much cheaper for the Bank. A survey says Online banking Costs is 10% of branch service. • Elimination of geographical barriers • Reduction in cost transaction (Cost effective) • Track-ability • Pay bill online there by saving postal services • Easy to make utility payment. • Online purchase • The service are available seven days a week, 24 hrs a day 11 Drawback of E-Banking Amity School of Business • • • • • Difficult in adaption Technology Fear of Technology High cost of Technology Lack of Preparedness Restriction on usage technology. 12 Internet Marketing Amity School of Business • Internet marketing, also known as web marketing, online marketing, or e-marketing, is referred to as the marketing of products or services over the Internet • Internet marketing is considered to be broad in scope because it not only refers to marketing on the Internet, but also includes marketing done via e-mail and wireless media. Digital customer data and electronic customer relationship management (ECRM) systems are also often grouped together under internet marketing. • Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising and sales. Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads on specific websites, email marketing, mobile advertising, and Web 2.0 strategies. 13 Internet Marketing Amity School of Business • Internet marketing, or online marketing, refers to advertising and marketing efforts that use the Web and email to drive direct sales via electronic commerce, in addition to sales leads from Web sites or emails. Internet marketing and online advertising efforts are typically used in conjunction with traditional types of advertising like radio, television, newspapers and magazines. • The internet has transformed business marketing. No matter what you do, the internet is likely to be at the heart of your marketing strategy. 14 Internet Marketing Amity School of Business • There has, of course, been a rapid rise in the number of ecommerce enterprises selling goods online. Some operate solely in the online sphere. Many others are bricks and mortar businesses that are also offering products and services via their websites. • But many other business models are using the internet to promote their business via websites, blogs, email, social media sites like Twitter and networking sites like LinkedIn. What's more, internet marketing enables you to carry out marketing activities that range from market research to improving customer service. 15 Specialized Areas of Internet Marketing Amity School of Business • Internet marketing can also be broken down into more specialized areas such as Web marketing, email marketing and social media marketing: 1) Web marketing 2) Email marketing 3) Social media marketing 16 Pros & Cons of Internet Marketing Internet marketing experts look at internet Amity School of Business • marketing as the primary solution to online presence. Here are some of the advantages of internet marketing: • Pros:– Internet marketing is a low cost promotional strategy: – Internet marketing is the easiest way to reach a global market : – Internet marketing reaches target market easily • Cons – Internet Marketing does not build instantly – Internet marketing is a tough competition trust 17 Internet Marketing Techniques Amity School of Business • The Internet allows for a continuum of marketing techniques ranging from strictly passive to aggressive. • Passive Internet Marketing is called Pull Marketing. • Aggressive Internet Marketing. Marketing, is called Push 18 Amity School of Business 19 E-Cycle of Internet Marketing Amity School of Business • Internet marketing follows a life cycle the begins with planning, followed by the four P’s : Product, Price, Place, & Promotion. • A Business Plan is a written document that identifies your business goals and how you will achieve them. It can be as simple as laying out the things you want to do and matching them against other products on the market, the competitions, the constraints, and the cash flow requirements. In virtually every case where an online business failed, it was either because of poor planning or poor management. A business plan is critical for an Internet Business. 20 E-Cycle of Internet Marketing Amity School of Business • The content of business Plan includes: – – – – – – – – Mission Product Competition Target Audience Marketing Sales Plan Operation Technology 21 E-Cycle of Internet Marketing Amity School of Business 22 Amity School of Business Marketing Marketing 23 Amity School of Business Note :- SEM (Search Engine Marketing) 24 Amity School of Business 25 The Benefits of Online Marketing Amity School of Business Vs Offline Marketing • As we all know, when it comes to marketing your business online compared to offline, there are a lot more advantages. Not only has the world wide web dramatically changed since the first ever website in August 1991, but so has marketing. • Before we look at why online marketing has more benefits than offline marketing, here is what is considered to be online marketing; – – – – – – Website Search (SEO) Email Marketing PPC (Pay Per Click) Online Advertising Social Media 26 The Benefits of Online Marketing Amity School of Business Vs Offline Marketing • Compared to what is considered to be offline marketing; – Catalogues – Brochures – Flyers – Exhibitions – Newspaper Adverts 27 Why use Online Marketing over Offline Marketing? Amity School of Business • If you are looking to target a specific demographic, you are able to use online analytical tools to do this which enables you to be specific. Making changes online are also very quick and easy, allowing you to react to any surrounding changes to your marketing. Monitoring traffic and behaviour online will ultimately allow you to personalize your content instantly. • As you don't have the usual print costs, it can be relatively cheap to market online especially when it comes to social media and SEO. If you can learn how to use the tools available, you will not only save time but a lot of money too. Not only will you save on money through avoiding offline costs for adverts but for staff too. Generally, you will need less staff when using online tools to market than offline. • The main deciding factor over why online marketing is more beneficial for a business than offline is because this is where 90% of your customers will be. We are in a new era where so many people of different ages and genders are all accessing the internet globally. For your business to be an ultimate success, you will need a combination of both online and offline marketing however, online marketing is where you will be able to connect with your audience28 on a broader scale. Challenges of Online Amity School of Business Marketing As you all are aware about the fact that today all the company using internet as medium to promote and sale there product but few challenges faced by many company whose offline markets are very good. • • • • Problem of Integrity Lack of face to face contact Security and privacy issue Lack of Trust 29 Amity School of Business Thank you 30