Ecommerce Today: Successes and Failures
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Ecommerce Today: Successes and Failures

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E-commerce has evolved since the late 1990s.Companies and individuals have been using e-commerce to do business; furthermore, it allows people to do shopping online.Many have succeeded and many had ...

E-commerce has evolved since the late 1990s.Companies and individuals have been using e-commerce to do business; furthermore, it allows people to do shopping online.Many have succeeded and many had failed as well.
Let us now look at the reasons for the success and failure.

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Ecommerce Today: Successes and Failures Ecommerce Today: Successes and Failures Presentation Transcript

  • Ecommerce Today Successes and Failures 10/5/2013 1 By Chirag Parmar (chiragparmar2411@gmail.com)
  • E-Commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 2  E-commerce has evolved since the late 1990s.  Companies and individuals have been using e-commerce to do business; furthermore, it allows people to do shopping online.  Many have succeeded and many had failed as well. Let us now look at the reasons for the success and failure.
  • Successful E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 3 Target the Un-Targeted Strong Business Planning Business Friendly E- commerce Software • Target the Un-Targeted  Know your customers thoroughly  Target needs that are unseen by your competitors • Strong Business Planning  Know your source of revenue, break-even and the strategic details  Decide on the future goals that you want to achieve • Business Friendly E-commerce Software  Choose software that is easy to manage and allows you to focus on core business activities
  • Successful E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 4 Create a Web Store with a Difference Make your “Hot Sellers” most visible Do not let your Customers forget you • Create a Web Store with a Difference  Branding is important for the success of your online business  Attractive domain name can play an important role in branding • Make your “Hot Sellers” most Visible  Create your Specialty  Show your best product/service first • Do not let your Customers forget you  Pamper your customers to generate permanent sales  Customer Relationship Management is important(especially small and building a permanent customer base)
  • Successful E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 5 Increase your Web Presence Build Robust Backend Operations • Increase your Web Presence  Perform search engine optimization for your site.  Associate with web sites that provide complimentary products or services (help to increase web presence for search engines and customers) • Build Robust Backend Operations  Backend operations are the backbone of the online shop  Choice of e-commerce solution determine the strength of the backend operations
  • Successful E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 6 Learn Faster and Better Surprise your Customers • Learn Faster and Better  Be prepared to spot your mistakes and assess the business with no biasness  Learn the loopholes and mistakes and rectify them • Surprise the Customers  Have incentives by providing offers, discounts etc  Make changes that do not sway away from the brand image that has been created in your customer’s mind.
  • Failure of E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 7 Trying to sell the wrong product online Lack of marketing • Trying to sale wrong product online  There are products are not appropriate to be sold online. Products, which are inexpensive and could be easily bought from the local store, are not worth selling on the internet. Products that need trying would be difficult to sell. • Lack of marketing  Marketing of the site is needed for both online and offline. Identify your competitive advantage and to show the customers the best price that can be offer.
  • Failure of E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 8 A poorly designed website Falling behind time Poor checkout procedures • A poorly designed website  Overcrowding is a major issue for this. A professional website need to feature the items clearly with photos and descriptions. Another issue is too much color, flash animation or graphics that slowed down the downloading process. • Falling behind time  The infrequent updating of website would be easily overtaken by competitors and customer’s visitation would fall. In order to stay at the top, updating is needed to feature any new products or news. • Poor Checkout Procedures  When a customer has decided to purchase an item, it should be easily linked to the shopping cart and play with ease.
  • Failure of E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 9 Not testing your site A hard -to- find or nonexistent privacy policy Poor order fulfilment • Not testing your site  Testing of links is very important to make sure that they are functioning properly. • A hard-to-find or nonexistent privacy policy  Most people would read the privacy policy, but there would be some who want to know whether there is protected. • Poor order fulfillment  Information on the Internet spreads like wild fire. If words of unhappiness were being spread around to potential customers, the reputation would be damaged. Therefore, do leave a good impression on your customers.
  • Failure of E-commerce 10/5/2013By Chirag Parmar (chiragparmar2411@gmail.com) 10 Straying from your objective Poor customer service • Straying from your objective  Do not lose your primary focus, Stick to your area of expertise. • Poor Customer Service  Poor customer service would send your customers running away. Provide excellent service would not only satisfy your customer, but also bring in potential customers.