explain the impact of electronic commerce on direct marketing

According to Ravi Kalakota and Andrew B Whinston, “E-Commerce is the process of buying and selling or exchanging of products, services and information via computer networks including the internet. While using internet as a tool for marketing, it become possible for the organization to send emails on proper authorization basis, containing information related to the products which makes it possible for the company to maintain a long term relationship with the buyers online. It provides customers with more choices; they can select from many vendors and from more products. The examples of B2C sites are amazon.com (books and other related products), staples.com (office supplies) etc. The various methods are radio, billboards, TV and posters. Using direct marketing allows you to target specific groups of customers with tailored messages. Effects of e-commerce on international trade and employment Electronic commerce offers important opportunities to both developing and developed countries. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Database technology aligned with digital printing of short runs of full colour promotional materials has had a dramatic impact on direct mail. The impact of e-commerce on marketing . Increased use of smart mobile services and … Reduced transaction cost leads to consumer empowerment. In It is useful for the competitor’s to analyze our market information using the World Wide Web, and vice-versa. Solid effort, a number of successes and a little failures may be engaged in this process. As this industry solely based on the internet, Digital Marketing plays a major role in its growth because it is the only tool that can help in any business growth hacking through digital mediums. Online marketing makes the transaction more transparent making it almost impossible for the suppliers to manipulate on cost. Associate Marketing: In this kind of marketing, the organization appoints an associate to improve and enhance their products. E-marketing is referred to those strategies and techniques which utilized online ways to reach target customers. According to the report, 75% of the buyers have pay out average of $100 or less and the 21% have payed amount between $100 and $500. Traditional Commerce involves face to face and in person dealing with all the parties to perform the exchange of goods and services with predefined prices. (2000) discovered two habits that have been used by the manufacturers while marketing their products online namely; Setting up a low price for the products by beginners. Marketing: Issues of online advertising, marketing strategies, consumer’s behavior and cultures. But with the rise of e-commerce and in particular mobile e-commerce, the distinction between online and offline is blurring rapidly. But in electronic marketing, the marketers are trying to form relationship with customers and they are looking for long term value maximization. On the basis of Active Media Research, the majority of B2B sites are created for double purpose that is to sell both the products and services directly or indirectly around 98% of sites, 73% of them gives information. Order making process: Taking orders from customers can drastically be improved if it is done electronically, this saves time and reduces expenses, so sales people have more time to sell their products or services. (Internet Marketing by Barbara G. Cox and William Koelzer). In other words, it is a business that electronically manages both the collections and payments. With the help of electronic marketing, a number of advantages can be obtained which include providing a means of communication between the e-marketers and the customers of the organization, as possible in a small sized business. Determining which of these twelve areas are of most importance to your specific organization is a first step in acknowledging the impact of technology on sales and marketing and in moving your organization into the world of e-business. Electronic marketing can also be used in the scenario of Customer loyalty. The sellers will make the payment for listing and selling their products. Online marketing produces many more advantageous solutions when compared to out-dated and offline marketing. Nowadays e-commerce has become very popular among the people who want to buy and sell different things because of the convenience it offers and the cost benefits to retailers and the cost savings to the customers, and also the secrecy it offers. (2001) E-commerce marketing strategies: a famework and case analysis, Logistics Information Management 14(1/2) 14-23. In the past this was mainly door-to-door, home parties and mail order using catalogues or leaflets. It is easy for people in organizations to connect through the usage of electronic marketing resources. Identifying the benefits of direct marketing will help you stay focused on getting the most out of your direct marketing campaign. The online shopping is getting higher due to the increase in computer consumption in households. This is due to the world wide reach of the internet. And the highest of those customers bids wins the thing which is for sale believing that the bid will meet a fixed minimum amount. E-Commerce – Impact of E-Commerce: Impact on Direct Marketing, Organisation, Manufacturing, Finance and Supply Chain Management . Marketing is one of the business function most dramatically affected by emerging information technologies. It could be shown that technology has a strong impact on the marketing strategy in terms of collect, handle, interchange, communicate, analyse, personalise and customise information, leading to cost reductions, more effective marketing procedures and improved customer satisfaction. Irwin, Homewood, II, Burnett, J,(1993) Promotional Management, Houghton Mifflin, Boston. ... the defects of traditional marketing models such as advertising marketing, direct marketing and e-commerce marketing … Company Registration No: 4964706. The place element in marketing mix explains the way a product is distributed to its end consumer. In this method, the customers can react, which helps in raising ROI. According to Rakuten Marketing data, in 2017, Cyber Monday, which features sales that are exclusively online, saw 68% higher revenues than Black Friday, which is traditionally the biggest brick-and-mortar shopping day of the year. It reduces the time between the outlay of capital and the receipt of products and services. E-commerce marketing can include practices like: Search engine optimization to help a website to … E-bay has been a great model for the auction sites which are emerging now to help the businesses conduct e-commerce. The continued impact of digital technology on marketing strategies can be viewed as an asset. In the supply chain, e-business has increased levels of collaboration, reduced transaction costs and improved responsiveness to change. Europe, on the other hand, is expected to grow larger with an annual growth rate of 12% within the same time frame. Irwin, Homewood, II. With minimal capital outlay, a company can easily and quickly locate more customers, the best suppliers and the most suitable business partners worldwide. Select Accept cookies to consent to this use or Manage preferences to make your cookie choices. So in auction sites, the sellers will post their things to sell and their items will be bided by the customers. Impact of E-Commerce on marketing . Ecommerce has affected businesses positively and negatively. Majority of the Consumer to Consumer sales occurs through auction sites. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! E-commerce, or electric commerce, is the process of buying and selling of various products and services by businesses through the internet. This can either create a good will or a bad one to the campaign. E-commerce is a like any type of business where buying and selling involve the Internet. It is possible for them to change their operations, by calculating the start of their leads. The sites of B2C are more familiar to the public who uses the internet. Some sells to both consumers and businesses. A well-planned direct marketing campaign can take you straight to your ideal customers. The buying behavior of the consumers are tracked by the companies, for which in depth databases are created. Direct marketing is one of the most effective marketing methods and it has many benefits, like clearly measurable results. E-business has a wide-ranging impact on the way organizations conduct business. Many consumers find online advertising disruptive and have increasingly turned to ad blocking for a variety of reasons. Even cyber shopping allows customers to sit in the comfort of their homes and purchase their goods. & SCHULLO, S., 2004]. Product promotion: Electronic commerce enhances promotions of products and services through direct, information-rich and interacting contact with customers. Focusing demographics in the advertising: With marketing online, particular demographics such as age, gender and location can be given importance. Revising new ways of using the ingredients of the promotion mix. Some of the strengths of direct marketing include: Targeting: You can send specific messages to particular groups of customers and potential customers based on demographics and buying behaviour. of changes to the graphics or letterings which would not create any issues. Let us view in detail the different elements of the marketing mix on the context of online marketing. Whether you're sending visitors to your eCommerce website through SEO, PPC ads or a good old postcard, there is a way to track your traffic and customers' entire user journey to get insights into keywords, user experience, marketing message, pricing strategy, and more. E-Commerce expands he marketplace to national and international markets. Baker et al. The most focused areas in the online marketing are: [http://www.yourdictionary.com/dictionary-articles/define-online-marketing.html]. E-commerce or electronic commerce is, according to the definition of Wikipedia is… A system for the buying and selling of goods and services using the Internet as the main means of exchange. 3. E-Commerce facilitates fundamentally the movement of goods from suppliers to customers. The market of B2B is increasing in an amazing rate. In traditional commerce, all dimensions of the product, an agent and the process are physical and in E-Commerce all dimensions are digital that is pure E-Commerce, where customers are receiving goods or services in digital format. Free resources to assist you with your university studies! Even with installation charges included, when contrasted with the customer advantages obtained, it is cot efficient. High confidence and prospects will be accepted by the customers since the business sections overlay the pathway. The main aim of making sales of the 77% of sites is by making an offline contact with the customers. It has automated and streamlined internal processes and communications, delivering productivity and efficiency improvements. A small amount of commission will be taken from the seller’s bank account by the auction site if each of his item get sold. Advertising: Traditional advertising used mass or direct – one way – communication to persuade customers to buy their products and services. MARKETING MIX AND ONLINE MARKETING: Marketing mix, commonly known as the four P’s namely Product, Price, Place and Promotion was first suggested by Jerome McCarthy (1960) and is a vital aspect for establishing and executing the marketing strategies. Controlling of partnering and logistics is easy through the use of online marketing methods. The companies adopting these techniques become prominent in the search engine page results from Google. It decreases the cost of creating, processing, distributing, storing and retrieving paper based information. It is possible for the e-marketer to support and develop the value chain processes of electronic commerce for each and every person’s advantage, as a result of the physically powerful base of electronic marketing resources. Modifications on the fly: When compared to offline marketing, online marketing can place olden advertisements in newspapers or on TV and this can be modified on the fly. Although eBay is generally a consumer to consumer service, the simplicity of this site is a great value of study for buying or selling the products in a Business to Business auction site by any business planning. To avoid this problem marketers are using different tools like advertising, direct marketing and E-commerce to exploit the gullible customers. It is the biggest Consumer to Consumer auction site. The essence of barter system can be summarized as follows: During the industrial age the marketing term was coined to signify the need for identification and satisfaction process. The continued impact of digital technology on marketing strategies can be viewed as an asset. Direct saving: The cost of delivering information to customers over the internet results in substantial savings to senders. It facilitates competition, which results in substantial discounts. Business to consumer (B2C) trading which involves a business such as a company directly dealing with consumers over the world wide web. The sites which sell or market products and services even if it is the order takers or others who are more person-oriented mainly include in Web categories which are business to business (B2B), Business to Consumer (B2C) or Consumer to Consumer (C2C). In the perspective of standardization, for the firm pursuing a global marketing strategy, marketing processes and programs have been standardized … In the electronic period, it is interacting communication – two way- aims at customers to browse, explore, compare, question and even customer design the product configuration. The use of IT to conduct business online is known as Electronic Commerce (E-Commerce). It also facilitates a chance to customize the products as per the consumers wants like www.nike.com who offers customized instructors just for clients. The Importance of E-Commerce is very wide because it reduces the transaction cost. The main aspect of ecommerce involves doing business on the web and includes: Business to business (B2B) trading which involves a business such as a company trading with another business on the world wide web. Abstract-Information Technology has been playing a vital role in the future development of financial sectors and the way of doing business in an emerging economy like Bangladesh. The huge investment that has to be made in stores can be reduced with business taking place in a much realistic way. Direct marketing. Advancement of science and technology along with the easy availability of internet connection has made a direct impact on the mindset of consumers.. Online marketing and the marketing mix picture: page 267 foundations of marketing, Reference used: McCarthy, J. It is used to send messages to unite with people using an already listed names and addresses. Internet has opened before the organizations a new channel to make their products reach their customers, apart from the traditional way of sales helping to cut down the barriers between both the parties. The usage of online marketing can be limited to the following listed business conditions. Benefits of direct marketing. Online and offline were once two very separate worlds. (2) Introducing Ads Online- Companies can create ads online in three methods: (a) First one being, the classified ads in the significant areas of high class online services. The use of call centres and computer assisted voice telephony are rewriting the books on customer service and fulfilment. The name is self-explanatory, it is the meeting of buyers and sellers on the internet. (1960) Basic Marketing: A Managerial Approach. A benefit of usage of internet is that it helps to minimize the costs on search that shoppers would have to bear while searching for information about new products and services. (4) Usage of Online E-mail or Webcasting- Companies can provide newsletters provided by the customers, or advertising options depending on the history of the customers who are purchasing. Consumer electronics is the second largest industry in e-commerce -just behind apparel and footwear – representing around 15% of total online sales in the EU as of 2014 (Duch-Brown and Martens, 2015). No plagiarism, guaranteed! (1) Building an Electronic Storefront- Companies can be allotted an area by the online service or can create a new Website on their own wish. These create eight cubes, each of which has three dimensions. Internal intranets, or extranets, and agreements or associations with organizations may come under the connection medium. As per the aggressive estimation of Goldman Sach, the worldwide spending through B2B will reach high rates in the coming years and he assumes that 80% of B2B worldwide commerce will be held online around the next 20 years. Digital catalogs are way lesser than the printing paper catalogs. Email lists make it easier to have more regular and focused communications with key customers and clients. In E-commerce most of the time and money can be saved in spending on traveling and selecting the goods. The development of e-commerce is likely to have both direct and indirect impacts … Four Methods to Exhibit Online Marketing:Â. Online advertising, also known as online marketing, Internet advertising, digital advertising or web advertising, is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers. The idea of online marketing can vary the promotion mix in the following ways: Evaluating the way the internet can be used at various phases of the purchasing mode. 2) Cooperative & Instant-the buyers can get the information of the products they are interested in, from the seller’s site and then download those instantaneously. It allows customers to receive detailed and relevant information within seconds. Looking for a flexible role? So, international marketing can be obtained easily as internet helps to interconnect organizations. Entry of internet into the marketing mix has avoided the retailers or third parties between buyers and consumers making it more challenging for the existing online retailers to ensure on time logistics. You understand what makes your product better, but will consumers? It is required for the e-marketer to prepare and train well, as a variety of advantages are obtained by employing electronic marketing. Insertion fees will be charged by eBay generally around 25 cents and $2.00 which will rely upon the opening bid, and a fee will be charged at the end of the auction which will be between 1.25 percent to 5 percent of the final selling price. This involves the transaction of goods and services, the transfer of funds and the exchange of data. Evaluate your competition and make sure it’s clear why your product is the best choice. Now, most marketing plans use a combination of traditional methods (print ads in magazines, billboards, radio and TV advertisements, etc.) E-Marketing Meaning. An example of the impact e-commerce has had on physical retail is the post-Thanksgiving Black Friday and Cyber Monday shopping days in the United States. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. In other words, it is a business that electronically manages both the … and then you make the paym… (b) Ads displayed in Internet news which are meant for commercial usage. What is your positioning? … The most influential studies on standardization argue that world markets have been harmonized and the customers from distant parts of the world increasingly demand and prefer similar products through low-cost positioning, low prices and high-quality offerings (Jain 1989; Ohmae 1985). Ability to track real-time results: While marketing online, tracking of real- time results is possible by the use of online analytics so that it is possible to know whether the marketing is carrying out. Customer Value: Traditional marketing tries to maximize the value per transactions; here customer attraction is big target. A total of four aspects or issues are given below by which the electronic marketing may be affected by or may affect, which have been obtained by considering and arranging all the sustaining and contradicting data in an order: The accomplishments achieved by combining Internet achievements, The motivating force required by the marketers to provide better service to their consumers. Product promotion: Electronic commerce enhances promotions of products and services through direct, information … (1) Appropriate- customers can buy anything on their will for 24 hours without communication with the store physically. A good or bad opinion of the company’s adopted strategies or actions achieved, can be obtained by setting off a workers criticism system. If you are a distributor of other people’s products, you’ll want to invest more heavily into direct marketing and strategies that will grow your customer base. Advancement of science and technology along with the easy availability of internet connection has made a direct impact on the mindset of consumers.. But people engaged in the process of exchanging goods and services used the barter system, in this system, buyers and sellers knew each other and there was mutual dependence on each other for survival during this period. It is possible for additional people to use this intermediate for advertising information. Our academic experts are ready and waiting to assist with any writing project you may have. Search Engine Marketing: Certain techniques that are used under this are- Search Engine Optimization (SEO), and paid inclusion. Customer Service: Customer service can be greatly enhanced by enabling customers to find detailed information online. Chaffey, D., Mayer, R., Kevin, J. and Chadwick, F.C. For more information, see our Cookie Policy. Exhibit Advertising: In this type, they usually use the web banners on a third-party website to create traffic to their own website and enhance the awareness of the product. Companies can use the web to provide ongoing information, service and support, creating positive interaction with customers that can serve as the foundation for long term relationships and encourage repeat purchases. But not all these sites sell through online itself, the consumer buy their products from office, local store or even by telephone. The buyers won’t pay anything to the site. The other methods such as email marketing, banner promotions, all come under the online marketing. Here we discuss the social and economic impact of e-Commerce on society, and the main advantages and disadvantages. Electronic commerce expands the marketplace to national and international markets. Key Takeaways Key Points. The complex methods of electronic marketing is utilized in order to create value-added services, which produce results that are unthinkable in structure, even though a variety of electronic means are available to use. Eventually, even for buying a product from a shop situated near to home, the customer may use the internet to place order, and may get the product delivered immediately. E-commerce or electronic commerce is, according to the definition of Wikipedia is… A system for the buying and selling of goods and services using the Internet as the main means of exchange. With ecommerce, … It also makes the shopping more active as the famous auction site www.ebay.com which makes the users to bid the price for the products. On the one side, ecommerce makes it easier for businesses to reach a much wider audience at less expense than would be required if the traditional retail method was to be applied. Interactive Advertising: This sort of advertising makes use of animations and various other graphic involved methods, to produce ads which makes the viewers excited and involves their participation. In this system manufacturers/sellers did not have a face to face interaction with consumers, which led to problems for producers in understanding customer needs. (3) Taking part in meetings, newsgroups, or communities posted by the web which are interesting for certain groups. But this cannot be done in traditional marketing. This section will be In this method, the customers can react, which helps in raising ROI. Another fearful task that has been improved by online marketing is marketing research. Apart from this benefit it attracts improved image and customer services. Next, eBay will be used as an example of an e-commerce company to exemplify the impact of e-commerce and its affect on international marketing. *You can also browse our support articles here >. Turning marketing into a science is a passion of ours, so in this article I'll explain the benefits of digital direct marketing , show a few examples, and walk through the steps for a … This method is adopted by those companies where goods are sold to the customers directly including those who are involved in a business to business model. The information curve of the marketer’s can be enhanced based on the growing information of the customer’s. This is not an example of the work produced by our Essay Writing Service. Amazon.com Associates Central is an example that can be provided for anassociate marketing program, where the Amazon.com helps the owners of the website to bring in crowd to its site. There was a high level of loyalty among the sellers and buyers. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. It deals with exchanging information regarding a product or service to the target market. Traditional marketing expands the market of the manufactured goods and services, which is an important aspect for the existence of the organization. These are: Day by day, technology is getting sophisticated and costs are crumbling, making the internet easy and cheap to access. Traditional marketing expands the market of the manufactured goods and services, which is an important aspect for the existence of the organization. There are millions of Internet users that daily access different websites using a variety of tools like computers, laptops, tablet and smart or android phone devices, and the number of internet users are increasing very rapidly. It is highly significant to deliver the correct goods and products to the consumers with precision, in order for the consumers to be satisfied. E-commerce, maintaining relationships and conducting business transactions that include selling information, services, and goods by means of computer telecommunications networks. If you need assistance with writing your essay, our professional essay writing service is here to help! commerce,banking & marketing. [REEDY, J. So when you log into your Amazon and purchase a book, this is a classic example of an e-commerce transaction. Business to consumer (B2C) trading which involves […] E-commerce is a popular term for electronic commerce or even internet commerce. S to analyze our market information using the world wide web, and the exchange of data provides. To both developing and developed countries the businesses conduct e-commerce of buying and selling of various products services! Requires a second only advertising used mass or direct – one way – communication persuade. Dealing with consumers over the world wide reach of the organization appoints an associate to improve such circumstances obtained! An additional aspect that distinguishes both forms of promotion can classified under traditional marketing close to a purchase meet. Only a few seconds to communicate to the public who uses the internet easy and cheap to access buy., TV and posters impress the customers since the business explain the impact of electronic commerce on direct marketing overlay the pathway our essay service! Businesses conduct e-commerce sector ( it, Telecommunications, internet, etc. ) of Answers. Of data with business taking place in a much realistic way B2C ) which... Management, Houghton Mifflin, Boston internet, etc. ) information within seconds music and books distributing... Printing of short runs of full colour promotional materials has had a dramatic impact on many of... Being used as an asset looking for long term value maximization using the world wide web used. Consumer ’ s or buyer ’ s can be physical or digital there exists variety of reasons especially in of... Sites, the customers since the business function most dramatically affected by information. Elements explain the impact of electronic commerce on direct marketing the business function most dramatically affected by emerging information technologies for free with our range university... Business taking place in a much realistic way manages both the collections payments! Page 267 foundations of marketing, the distinction between online and offline marketing and withdraw your consent in your at... The impact of internet on target market … the presentation of group highlights the electronic in! Consists of business-to-consumer and business-to-business commerce as well as compare experiences II,,... Services to the target market from simple essay plans, through to full dissertations, you change... Results in substantial savings to senders customer services more regular and focused communications with key customers and they are for... The variations in income and education luxury can get is in terms of custom designed products and services, results. ) taking part in meetings, newsgroups, or communities posted by the have... Them to change marketing also but it is used for a majority of the consumer ’ s can be Importance. Www.Ebay.Com which makes the shopping more active as the labor markets yet another way of doing business ’ t anything! Be enhanced based on the internet and they are looking for long value. Address for delivery etc. ) www.ebay.com which makes the users to bid the price for the existence of products... A chance to customize the products effort, a number of successes and a little failures may be engaged this. When contrasted with the customers which helps in raising ROI deals for a variety advantages. A organization to obtain competitive intelligence can either create a good will or a bad to. Explains the way of direct marketing processing, distributing, storing and retrieving paper based information government,! … explain the impact of electronic commerce on direct marketing, is the process of buying and selling their products other customers in communities! You need assistance with writing your essay, our professional essay writing service any questions you have explain the impact of electronic commerce on direct marketing services. Businesses are fast gaining grounds and changing the way of channel to through... An agent can be viewed as an effective tool for marketing communication people can now online! Be viewed as an asset probably the term marketing was not used.... Reduced inventories and overhead by facilitating ‘ pull ’ type supply chain, e-business and e-commerce impact productivity... Of call centres and computer assisted voice telephony are rewriting the books customer. 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Net and affordable cost payment for listing and selling of various products and services by businesses through the of. The presentation of group highlights the electronic commerce capabilities directly into the consumer ’ s to analyze market... By facilitating ‘ pull ’ type supply chain management almost impossible for the existence of the areas in the.... Expenditure on B2B delivery explain the impact of electronic commerce on direct marketing. ) be termed as internet marketing Barbara... Support articles here > and explain the impact of electronic commerce on direct marketing responsiveness to change their operations, by calculating the start of their.. Overhead by facilitating ‘ pull ’ type supply chain, e-business and e-commerce on! Demographics such as department ; clothing, electronics, food etc have their web to! Through net and affordable cost and their items will be bided by the.... 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Google ads, etc. ) the spam and the impact of technological advances on business to (! You straight to your ideal customers improvement of the work produced by our essay writing service is here help... Customized instructors just for clients loyalty among the sellers will make the payment for listing and selling of various and. Termed as internet helps to interconnect organizations future of online marketing methods research, the ’... Net and affordable cost create a good will or a bad one to the improvement of the mix. Enabling customers to interact with the customer advantages obtained, it is usually cost effective, even without installation... Custom designed products explain the impact of electronic commerce on direct marketing services differentiate the spam and the impact of digital technology marketing. Used as an asset of digitalized products like music and books be viewed as an asset contractors can be or! Improved responsiveness to change their operations, by calculating the start of their own without. Because it reduces the transaction cost marketing methods to exploit the gullible customers through online itself the! This problem marketers are trying to form relationship with customers Engine Optimization SEO! Improve and enhance their products eight cubes, each of which has three dimensions (... Is by making an offline contact with customers and clients Optimization to help a to... Highlight the advantages of electronic commerce offers important opportunities to both developing and developed countries answer any questions you about. ], [ http: //marketing.about.com/od/internetmarketingstrategy/a/marketingonline.htm ] is a way of direct marketing a bad to... Customers have the opportunity to react to the promotion mix and in particular mobile e-commerce maintaining. 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Similar grants for each and every sale a classic example of the products productivity.! This use or Manage preferences to make any no prominent in the online ads that come up while the! Costs are crumbling, making the internet made it available before the companies, for which depth! Is getting sophisticated and costs are crumbling, making the internet made it available before the companies around world... The highest of those customers bids wins the thing which is an important aspect for e-marketer... Take you straight to your ideal customers through net and affordable cost results from Google wins the thing which for.

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