Entry 4 : E-commerce and you!
Electronic Commerce, commonly known as e-commerce, refers to the buying and selling of goods and services on the internet. E-commerce has grown extraordinarily with the widespread of internet usage in the 21st century. Today, e-commerce is one of the most important facets of the internet to have emerged in the recent times.
E-commerce is lucrative to many due to its numerous benefits such as low cost set-up and the absence of time and geographical barriers. However, as attractive as e-commerce sounds, we too have seen a fair share of dot-com failures in the recent years.
So what exactly does it takes for a dot-com business to take off and be profitable?
Let me now share with you the top 10 key factors which contributed to the success of e-commerce business.
1. Identifying And Targeting The Correct Consumer Group
Successful e-commerce website understand the importance of identifying their target audience.
By identifying and understanding more about the targeted consumer group, they are able to structure your website in a manner that makes maximum impact.
2. Clean And User Friendly Website
Majority of the consumers looked forward to hassle-free, convenient and yet enjoyable shopping process. Thus, the web content of a successful e-commerce websites are always fresh and informative. Navigation are easy and quick, products are arranged nicely and checks out are easy and hassle-free.
3. Do Not Let Your Customers Forget You
By having a good relationship with your customers, you would be able to retain old customers and even attract new customers through the words of mouth. A successful e-commerce website often develop innovative ways inform their customers about new product and the latest updates to the web stores. At times, they would even give away freebies as a way of rewarding their visitors for their allegiance.
4. Increase Your Web Presence
A successful e-commerce website is able to leave a long-lasting impression on consumers. Many successful e-commerce website do so by increasing their web presence. These websites make their presence felt by carrying out intelligent marketing over the internet. One method is through search engine optimization. Search engines are like spotlights. If they shine on you, people notice you. Majority of buyers visit webpages after spotting them coming in first three or four pages of search engine result.
5. Make your “Hot Sellers” most Visible
Successful e-commerce website always create their online store in such a manner that when a visitor leaves your online store, he/she is aware of the specialty even if they do not intend on purchasing these products. In this case, your online store will be the first thing that comes to their mind when they need to purchase that particular items which happen to be your specialty.
6. Create a web store with a difference
Visual memory is more enduring than textual memory. Thus, a successful e-commerce website often has more plentiful relevant product images. Most people find it easy to browse through pictures rather than reading lengthy product description. Product pictures are very helpful to customers and is definitely a good way to bringing in more traffic.
7. Build Robust Backend Operations
Back end operations are like the backbone of an online website. A successful e-commerce website comprises the existence of a strong back end platform. All back end operations are expected to be accurate, reliable, secured, scalable and provide real time data.
8. Learn faster and better
Business is all about speed. As such, a successful e-commerce website conduct unbiased assessment of its online business and cover up any mistakes and rectify them before your competitors come to know about it. To err is human, but failing to cover yourself and allowing your competitors to exploit your loopholes, is suicidal and is a major threat to E-Success.
9. Surprise Your Customers
Successful e-commerce website understand the need to innovate and add life to their business enterprise. They often perform regular enhancements to their online storefront. Some add incentives by providing surprise offers and price discounts. Constantly innovating while remaining focused on your business goals will lead to success in your online business.
10. Strong Business Planning
Successful e-commerce website understands the importance of strong business planning. They have complete knowledge of your revenue source, break-even duration and other important strategic details from the beginning, and decide on the milestones that are to be achieved. You should know the right moment to expand your business and plan for future sources of revenue.
Let me now end my entry with the top 10 e-commerce websites. Are you able to associate which the above successful key factors to the website?
1. Google
2. Facebook
3. Youtube
4. Yahoo!
5. Windows Live
6. Blogger.com
7. Baidu.com
8. Wikipedia
9. Twitter
10. MSN
E-commerce is lucrative to many due to its numerous benefits such as low cost set-up and the absence of time and geographical barriers. However, as attractive as e-commerce sounds, we too have seen a fair share of dot-com failures in the recent years.
So what exactly does it takes for a dot-com business to take off and be profitable?
Let me now share with you the top 10 key factors which contributed to the success of e-commerce business.
1. Identifying And Targeting The Correct Consumer Group
Successful e-commerce website understand the importance of identifying their target audience.
By identifying and understanding more about the targeted consumer group, they are able to structure your website in a manner that makes maximum impact.
2. Clean And User Friendly Website
Majority of the consumers looked forward to hassle-free, convenient and yet enjoyable shopping process. Thus, the web content of a successful e-commerce websites are always fresh and informative. Navigation are easy and quick, products are arranged nicely and checks out are easy and hassle-free.
3. Do Not Let Your Customers Forget You
By having a good relationship with your customers, you would be able to retain old customers and even attract new customers through the words of mouth. A successful e-commerce website often develop innovative ways inform their customers about new product and the latest updates to the web stores. At times, they would even give away freebies as a way of rewarding their visitors for their allegiance.
4. Increase Your Web Presence
A successful e-commerce website is able to leave a long-lasting impression on consumers. Many successful e-commerce website do so by increasing their web presence. These websites make their presence felt by carrying out intelligent marketing over the internet. One method is through search engine optimization. Search engines are like spotlights. If they shine on you, people notice you. Majority of buyers visit webpages after spotting them coming in first three or four pages of search engine result.
5. Make your “Hot Sellers” most Visible
Successful e-commerce website always create their online store in such a manner that when a visitor leaves your online store, he/she is aware of the specialty even if they do not intend on purchasing these products. In this case, your online store will be the first thing that comes to their mind when they need to purchase that particular items which happen to be your specialty.
6. Create a web store with a difference
Visual memory is more enduring than textual memory. Thus, a successful e-commerce website often has more plentiful relevant product images. Most people find it easy to browse through pictures rather than reading lengthy product description. Product pictures are very helpful to customers and is definitely a good way to bringing in more traffic.
7. Build Robust Backend Operations
Back end operations are like the backbone of an online website. A successful e-commerce website comprises the existence of a strong back end platform. All back end operations are expected to be accurate, reliable, secured, scalable and provide real time data.
8. Learn faster and better
Business is all about speed. As such, a successful e-commerce website conduct unbiased assessment of its online business and cover up any mistakes and rectify them before your competitors come to know about it. To err is human, but failing to cover yourself and allowing your competitors to exploit your loopholes, is suicidal and is a major threat to E-Success.
9. Surprise Your Customers
Successful e-commerce website understand the need to innovate and add life to their business enterprise. They often perform regular enhancements to their online storefront. Some add incentives by providing surprise offers and price discounts. Constantly innovating while remaining focused on your business goals will lead to success in your online business.
10. Strong Business Planning
Successful e-commerce website understands the importance of strong business planning. They have complete knowledge of your revenue source, break-even duration and other important strategic details from the beginning, and decide on the milestones that are to be achieved. You should know the right moment to expand your business and plan for future sources of revenue.
Let me now end my entry with the top 10 e-commerce websites. Are you able to associate which the above successful key factors to the website?
1. Google
2. Facebook
3. Youtube
4. Yahoo!
5. Windows Live
6. Blogger.com
7. Baidu.com
8. Wikipedia
9. Twitter
10. MSN
posted by KESTER NG FOR COM 125 at
2/21/2011
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