What are the benefits of Internet Marketing to customers?

The increasing availability of so many products and services on the internet has introduced many opportunities and benefits for customers.

Comparing and selecting providers

The internet allows a great deal of price transparency for consumers. This gives them an advantage because they can compare prices easily between many potential suppliers. Prices are stored digitally in databases, and software is used to search for the best prices available on the web. Some sites provide instant price comparisons, and at some sites customers can join together in order to lower prices. This has the effect of giving online customers much greater bargaining power.

Instead of prices being set by businesses and passively received by the market, the internet is capable of turning this situation upside down. Some sites allow their customers to set their own prices, and at several online auction sites consumers are able to place bids for consumer products after viewing the minimum price acceptable to the seller.

Comprehensive and up-to-date product information

In both b2c and b2b markets, the internet offers businesses the opportunity to provide total product information. Private customers shopping online do not have the chance to touch, smell, taste or sample products; businesses looking for industrial components or business services might not have the chance to make contacts with a range of representatives. These drawbacks are bypassed because of the web's power to store and communicate information.

For prospective buyers, the essential product details are:

• price
• descriptions of features and specifications
• colour swatches
• images
• drawings
• promotional deals.

From a well-designed website, customers can fully check specifications and quickly make e-mail contact with staff. The whole transaction process is quickly completed.

Dynamic pricing

Customers can gain excellent cost savings by making use of the internet's ability to alter pricing in real time to reflect market conditions. The airline industry and hotels are two examples where customers can save due to 'dynamic pricing'. When few seats are sold, availability is good and prices are set very low. As flight time draws nearer, and fewer seats are available, prices increase, depending on seat availability. The website and supporting technology can respond instantly to market changes. The price is constantly on the move.

Online auctions can make use of the same principle. Prices are open and available for all potential bidders to see. As bidding progresses, asking prices move according to the interest that is shown.

Responsive transactions

The internet offers the chance to conduct immediate transactions and immediately have the satisfaction of knowing that they have made a booking. Booking an airline ticket through an online facility offers an easy process and great convenience.

Customer service

Marketers must constantly look at customer needs and wants. Customer service is of paramount importance if a business is to remain competitive in today's business world. Products and services may be very similar; it is customer service that can clinch the business, whether in b2c or b2b markets.

The internet offers businesses a number of ways of delivering improved customer services. Websites are available 24 hours a day. They almost all include links to FAQ pages, 'About us' and 'Contact us' links. These all help to give online customers a better level of service.

Online complaints services exist that can help customers to lodge a complaint about an online product or service. Consumers benefit because they can add their voice to those of other who have complained. This gives a collective view. A fee is paid to the complaints service company, which then contacts the business concerned and explains customer concerns.

The internet offers people the chance to participate in real-time online chat groups. This is especially useful to consumers who can add their opinions and read those of other consumers.