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Tips for a better success of e-commerce

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Introduction <ul><li>E-commerce refers to all forms of business activities conducted across the internet. This can include E-tailing, B2B, intranets and extranets, online advertising. </li></ul><ul><li>E-commerce involves much more than electronically mediated financial transactions between organizations and customers. </li></ul><ul><li>(e.g. Customer Service) </li></ul>

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How do we define &quot;e-commerce success?&quot; <ul><li>The key success metrics for ecommerce sites include: </li></ul><ul><li>Traffic: The number of visitors that are coming to your site </li></ul><ul><li>Stickiness: The amount of time users spend on the site and the number of pages they view </li></ul><ul><li>Conversion: The percent of visitors who become customers </li></ul><ul><li>Customer Retention: The number of customers who return to your site and the frequency of their purchases </li></ul>

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<ul><li>Successfully e-commerce is an e-commerce website that actively makes a net profit. </li></ul><ul><li>Reaching new customers and increasing customer loyalty were the primary objectives for e-commerce merchants. </li></ul><ul><li>Factors that contribute to the success of e- Commerce is technology orientation. </li></ul><ul><li>“ You wouldn’t build a house without an architect and a blueprint, and you shouldn’t build a website without a digital equivalent” </li></ul>

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<ul><li>Successful E-Commerce operations are fluid and adaptable to technological change. </li></ul><ul><li>E-Commerce operations will modify and define new applications as the technology advances. </li></ul><ul><li>Successful E-Commerce operations harness only the functionality of technology that support specific business needs or help achieve predetermined goals </li></ul>

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<ul><li>1. Do Not Neglect Customer Service </li></ul><ul><li>Take active measures to deliver quality online customer service. </li></ul><ul><li>2. Target the Un-Targeted </li></ul><ul><li>Know your customers thoroughly and target those needs that </li></ul><ul><li>are unseen by your competitors. </li></ul><ul><li>3. Integrate Your Web Site With Your Traditional Business </li></ul><ul><li>- Make better use of these opportunities by including your Web site address (URL) on every business-related document </li></ul>E-commerce success guidelines

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<ul><li>4. Understand Marketing Needs </li></ul><ul><li>Pursue linking opportunities. </li></ul><ul><li>Use the search engines. </li></ul><ul><li>5. Save Money and Keep It Simple </li></ul><ul><li>The minimal loading time greatly pleases customers </li></ul><ul><li>“ Remember: for a site that sells, looking lovely is a luxury. Keeping your selling message clear and uncluttered is vital.” </li></ul><ul><li>6. Pay extra for a quality design. </li></ul><ul><li>Well-designed web site </li></ul>

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<ul><li>7. Do not let your Customers forget you: </li></ul><ul><li>Customer Relationship Management is of prime importance, especially when you are small and struggling to build a persistent customer base </li></ul><ul><li>8. Don’t fall into the price trap. </li></ul><ul><li>Keep prices competitive, but concentrate on the value-added products and services </li></ul>

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<ul><li>9. Keep customers informed. </li></ul><ul><li>A quality newsletter keeps your business fresh in the minds of your customers, but don’t overdo it. </li></ul><ul><li>10. Ensure that your site is fast </li></ul><ul><li>One of the primary reasons people shop on the Internet is to save time </li></ul>

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<ul><li>1 - Tell Me Where I Am </li></ul><ul><li>2 - Let Me Remove Narrowing Options </li></ul><ul><li>3 - Allow Me to Sort Every Which Way </li></ul><ul><li>4 - Show Me the Products </li></ul><ul><li>5 - Refining Options Bring Joy </li></ul><ul><li>6 - The More Specifics, the Better </li></ul><ul><li>7 - Tell Me What it Costs & What I'm Saving </li></ul>Rules for successful E-commerce

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<ul><li>8 - Keep the Search Bar in Easy Reach </li></ul><ul><li>9 - Give Me Search Refinement Options </li></ul><ul><li>10 - Get as Close As You Can Get (while staying relevant) </li></ul>

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<ul><li>11 - Share the Critical &quot;Fit&quot; Information </li></ul><ul><li>12 - Tell Me If You've Got It </li></ul><ul><li>13 - You Can Never Have Too Many Photos </li></ul>

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<ul><li>EBay is the world's largest online trading community </li></ul><ul><li>Q : What has helped to make eBay as successful as it has been? </li></ul><ul><li>A : It connect with some very fond and special early childhood memories. </li></ul><ul><li>Q : What unique challenges exist for companies in the online auction </li></ul><ul><li>space? </li></ul><ul><li>A : It is the idea of creating trust and confidence among users. </li></ul><ul><li>Q : Whom does eBay view as its major competitors? </li></ul><ul><li>A : Amazon.com auction and yahoo!’s auction. </li></ul><ul><li>EBay doing $8 million (US$) a day in gross merchandise sales. Amazon.com </li></ul><ul><li>do about $300,000 and Yahoo!'s $480,000 a day </li></ul>The success stories of eBay

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<ul><li>Q : What have you done on a regular basis to promote eBay </li></ul><ul><li>A : We have had isolated campaigns through radio and print, and we've also </li></ul><ul><li>done some tradeoffs and some banner ads on other sites. We have done very </li></ul><ul><li>little external promotion to build membership. </li></ul><ul><li>Q : What are the traffic levels that you're seeing at your site </li></ul><ul><li>A : It comes from virtually everywhere </li></ul>

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<ul><li>There are definitely several positive and negative </li></ul><ul><li>opportunities that ecommerce has brought on in the </li></ul><ul><li>past couple years. In fact, ecommerce is very convenient and </li></ul><ul><li>simple. </li></ul>Conclusion

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