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E-commerce and the Entrepreneur - Coggle Diagram
E-commerce and the Entrepreneur
Definition of E-commerce
method of buying and selling goods and services online
use ecommerce channels such as your own website, an established selling website like Amazon, or social media to drive online sales.
Factors to consider before launching into E-commerce
Developing deep, lasting relationships with customers takes on even greater importance.
Creating presence on the Web requires an ongoing investment of resources such as time, money, energy.
Web success requires a company to develop a plan for integrating the Web into its overall strategy.
Measuring the success of a Web-based sales effort.
How a company exploits the Web’s interconnectivity and the opportunities.
Factors essential to E-commerce success
Ensuring a positive user experience
Maximizing Web site performance
Retaining customers
Optimizing conversions
Using Web analytics as part of a cycle of continuous improvement
Acquiring customers
10 Myths of e-commerce
Myth 1 If I launch a site, customers will flock to it.
Myth 2 Online customers are easy to please.
Myth 3 Making money on the Web is easy.
Myth 4 Privacy is not an important issue.
Myth 5 I don’t need a strategy to sell online.
Myth 6 The most important part of an e-commerce effort is technology.
Myth 7 Customer service is not important.
Myth 8 Flashy Web sites are better than simple ones.
Myth 9 It’s what’s up front that counts.
Myth 10 My business doesn’t need a Web site.
Strategies for E-Success
Attract visitors by giving away “freebies.”
Sell the “experience.”
Develop a community.
Make sure your Web site says “credibility.”
Focus on a market niche.
Designing a killer web site
Build loyalty by giving online customers a reason to return to your Web site.
Incorporate meaningful content that is consistent with your company’s message.
Offer suggestions for related products.
Use your web site to collect information, but don’t tie up visitors with a tedious registration process.
Select an intuitive domain name that is consistent with the image you want to create for your company and register it such as short, memorable and easy ton spell
Establish reasonable shipping and handling charges and post them upfront.
Tracking Web Results
(Web analytics)
Conversion (browse-to-buy) ratio
The proportion of visitors to a site who actually make a purchase.
Search engine ranking
Shows where a company’s Web site ranks in search engines’ results pages.
Average number of page views per visit
Measures how much time visitors spend on a site
Bounce Rate
The percentage of visitors to a site who view a single page and leave without viewing other pages.
Cost per Acquisition (C P A)
The amount it costs to generate a purchase or a customer registration
Ensuring Web Privacy
Secure Sockets Layer (S S L) Technology
An encryption device that secures customers’ transaction information as its travel across the internet.
Virus detection software
Program that scan computer drive for viruses, or nasty programs, written by devious hackers and designed to harm computers and the information they contain.
Charge backs
Online transactions that customer dispute.