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eCommerce

Written by: Manage Your Business

Article Overview: eCommerce, The Newest Business Frontier: It's Time To Get Connected

eCommerce

eCommerce

eCommerce, The Newest Business Frontier: It's Time To Get Connected

If you have not decided whether the fanfare over conducting business online is hype or reality and are holding off developing a Web site for your enterprise, you could be missing out on a powerful business tool.

The Internet is proving to be a significant business leveler, allowing small and medium-size companies to compete with the giants on the same global playing field.

Whether you are a consumer or a business-to-business resource, some of the most efficient marketing and selling tools are available via the Internet, and the potential of reaching a vast audience is open to you through the World Wide Web. Consider these facts: Forrester Research, Inc. estimates that 47.3 million North American households have online access and 43.9 percent have browsed online. Of the 43.9 percent, 65 percent have made purchases.

Time-starved consumers are becoming more comfortable using credit and bank cards to make purchases from security-backed virtual retailers. They comparison shop over the Internet for the best quality and cost and purchase a range of goods from groceries to high-tech products.

As the electronic-consumer trade continues to soar, business-to-business eCommerce will be even stronger. Forrester Research, Inc., projects that business-to-business will become a $1.5 trillion market by 2003.

Many larger corporations have already mandated the use of online transactions to their downstream vendors. According to the U.S. Small Business Administration (SBA), the introduction of electronic commerce in federal contracting is moving ahead, and small business owners must adopt this new business strategy to remain fully competitive.

Until recently, developing an eCommerce Web site meant dealing with multiple companies: one to develop the Web site, one for eCommerce integration, one to host the site, and yet another provider for secure payment processing.

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Related Forum Posts
Re: Is Your eCommerce Site Search Engine Friendly? - Does anyone know of any "small business" eCommerce sites that are search engine friendly? And more importantly, what are they doing well?
eBlogging 101: Getting Your Internet Business To Stand Out F - Since the inception of eCommerce websites there have been a growing number of brick and mortar businesses expanding their sales online. With this growing trend it means more competition and less market share. I have mentioned that eBlogs are becoming more popular as well (an integration of an eCommerce shop with a blog) and I spoke more about it in the post I wrote: e-Commerce With Integrated Blog (e-Blogging). The question Internet businesses face is: how do you stand out from the crowd? Design and User Friendliness This is almost too obvious but I still see poorly designed websites lacking user friendliness and easy to use navigations. A well designed website is easy to use, looks professional and instils confidence in potential customers. This reassures them that they can safely buy on your website knowing their products or services will be delivered on time. Furthermore a professional website conveys high quality and strong branding, just how you would attend a business meeting in a proper suit and not a pair of Billabong shorts. Ease of use of your website is equally important. If a potential customer can not navigate through your website easily and find the information they are looking for, they will go to the next website on the list. It is very easy to lose a sale because of poorly designed navigations. One way to test the ease of use of your website is to watch friends and family while they complete a few simple task of purchasing and finding specific information. A few things to observe are: * Do they have to keep backtracking through the website? * Can they find what they are looking for quickly? * Can they easily click on images to enlarge the product? * Does the search function work and return the appropriate results? * Are the images of high quality without sacrificing time to load the website? * Is it easy to add items to the shopping cart? * Is the checkout easy to use? Additionally, ask them for their feedback and thank them for their time. Be sure to take these findings and implement them to your website. Once you get this right, you will have a higher conversion rate. Show Your Testimonials Testimonials is a powerful tool for any Internet business. In the past I’ve utilised this tool to promote and market my products for Dragonboating and it increased my sales by two fold simply by having them displayed. Prospective customers will also feel confident to purchase from you because they see positive feedback from others. With the right mix of testimonials including website’s easy of use, quality of product, speed of delivery and fast resolution of issues, it will cover all aspects of the buying process for a prospective customer. So next time when a customer receives their product, follow up with them 7 days later and ask them to write a testimonial for your website. Help Customers Find Your Delivery And Returns Information It’s important to show a link to your delivery and returns page which should be displayed prominently on your website. Most customers want to know whether or not you can deliver to their location, how much it will cost them and how you will handle returns if there is a problem. I have had customers tell me how frustrating it is to find the cost of delivery at the end of the check out page, which is why I have it clear displayed on the website. It shows you are transparent and operate with integrity. This builds stronger trust with your customers as well. They will thank you later in repeat and referral business. Extra eBlogging Tips With these basic principals in place, your eBlog should start appealing to more customers. We want to give them that extra incentive for them to buy from you because you will be competing with other popular websites in the marketplace. eblogging101_2Offer Customers To Join Your Loyalty Program: A great way to attract more customers and to keep them coming back for more is to encourage them to be part of your loyalty program. In the past I have set up e-Commerce websites with an option to reward them with 1 point for every dollar they spend. The more points they accumulate, the more chances of earning a nice reward. Your customer will be able to exchange their points for a new gadget - an iPod for example or a product in your range. Reward Purchases: You can reward customers who come back and order from you by giving them a discount on their next order. The more purchases they make, the more discounts they receive. It encourages them to purchase from you every time. Bulk Discounts: If you sell products that people buy in large quantities consider offering a bulk discount rate. It’s a great way to encourage larger orders and higher turnover of product for your Internet business. We love to think that we have saved money, even though we have spent twice as much to get that discount. Aldi, the supermarket chain is a classic example of buy in bulk and save, which encourages shoppers to spend more. The UPOD principle (Under Promise, Over Deliver): This is a principle I practise all the time in my businesses. Let’s say you offer normal delivery to deliver a product, which takes between 3 - 5 days to receive. What if you sent the product overnight via courier and it arrived the next day. Would your customer be ecstatic to receive their product earlier than expected? Of course they would! They would refer it to their friends and family because of fast delivery and good customer service. This is the under promise and over deliver (UPOD) principle that you can apply in your Internet business. There are a lot of similarities between a brick and mortar business compared to an online business. Businesses that offer good products and excellent customer service are able to capture market share much faster with smarter techniques. They will be the businesses that succeed and do well online. Gone are the days where you just put an eBlog website and hope for the best. You need to implement strategies and be smart to attract good quality customers for your Internet business, then you will reap the rewards. Tyrone Shum eBlogging 101


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