What Were The Reasons For The Failure Of Early Online Marketing Companies?
The mid 1980s marked the rise of online marketing as a means to reach global market segments. The advent of internet technology enabled marketers to move away from heavy offline campaigns like signages, billboards, television and newspaper ads to the digital platform. However, not all the early birds were able to sustain the demands of the end-users and they succumbed in a very few years from incorporation, due to one or more of the following reasons: Failure To Understand The Target Market The relationship between the early online marketers and clients was a very closed one, without much scope for interaction. The client supplied the budget and okayed the timeline - the marketing campaigns were unleashed. There was complete failure to understand the requirements of the target market. The focus was lop-sided and attempts to market the merchandize were greater than that of solving customer pain-points. Modern digital marketing companies have come a long way from them, and to...