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Topic 8: E-commerce and the Entrepreneur - Coggle Diagram
Topic 8: E-commerce and the Entrepreneur
Factors to Consider Before Launching into E-Commerce
How a company exploits the Web’s interconnectivity and the opportunities it creates to transform relationships with suppliers, customers, and others is crucial to its success.
Web success requires a company to develop a plan for integrating the Web into its overall strategy.
Developing deep, lasting relationships with customers takes on even greater importance.
Creating a meaningful presence on the Web requires an ongoing investment of resources – time, money, energy, and talent.
Measuring the success of a Web-based sales effort is essential to remaining relevant to customers whose tastes, needs, and preferences constantly change.
Factors Essential to E-Commerce Success
Maximizing Web site performance
Ensuring a positive user experience
Optimizing conversions
Retaining customers
Acquiring customers
Using Web analytics as part of a cycle of continuous improvement
Ten Myths of E-Commerce
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 4 Privacy is not an important issue.
Myth 7 Customer service is not important.
Myth 3 Making money on the Web is easy.
Myth 8 Flashy Web sites are better than simple ones.
Myth 2 Online customers are easy to please.
Myth 9 It’s what’s up front that counts.
Myth 1 If I launch a site, customers will flock to it.
Myth 10 My business doesn’t need a Web site.
Strategies for E-Success
Attract visitors by giving away “freebies.”
Sell the “experience.”
Listen to your customers and act on what you hear.
Develop a community.
Make creative use of e-mail but avoid becoming a “spammer.”
Focus on a market niche.
Make sure your Web site says “credibility.”
Designing a Killer Web Site
Give customers what they want
Select an intuitive domain name that is consistent with the image you want to create for your company and register it
Understand your target customer
Use online videos
Add wish list capability
Create a gift idea center
Offer suggestions for related products
Provide customer ratings and reviews
Make your Web site easy to navigate
Tracking Web Results
Web analytics:
Tools that measure a Web site’s ability to attract customers, generate sales, and keep customers coming back.
Visitor segmentation measurements:
Information whether they are return customers or new customers, how they arrive at that site (eg: via search engine or pay per click ad), which search term they used (if they used search engine).
Process measurements
How their websites attract visitors and convert them into customers
Does check out process work smoothly?
How often do shoppers abandon their cart?
Content reports
Which products?
Which pages they view most often(less often)?
How they navigate in the site?
How long they stay in the site?
Ensuring Web Privacy
2.Develop a company policy for the information you collect.
3.Post your company’s privacy policy prominently on your Web site and follow it.
1.Take an inventory of the customer data collected.