Online Business problem includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services. is more than just buying and selling products online.
3. Business Problem in the
Online Industry
¡ Maintaining efficiency during scaling-up / Updates
¡ Mastering content distribution
¡ Juggling revenue streams in a post-click era
¡ Access (anywhere, anytime) – multiple devices, different locations
¡ Big Data Analytics – migration of Ipv4 to Ipv6
¡ Security
¡ Customers return much of the commodities they purchase online
¡ COD is the preferred payment mode – manual cash collection is painstaking
¡ Payment gateways have a high failure rate
¡ Tracking cookies/Pixels – still challenging to reach out target audience/promotion
¡ Assets Management
4. Analyses and
Recommendation
¡ Understand different online business activities
• Providing information
• Internet advertising
• Personalized marketing
• Sales/online transactions
• Market research
¡ Understand the issues relating to doing business online
Ø Issues:
• Selling online v online promotion
• Design and set-up
• Technical expertise
• Maintaining/updating the website to ensure up to date information
• Suitable domain name
• Opportunity to personalize the page to the user
• Method of payments
• Storing customer details
• Delivery of order
Ø Operational risks:
• Out of date information
• Fraud & Hacking
• Problems with payments
• Legal issues of operating in many countries
• Data security
• Language Issues & Remote communication
• Reliance on email if there are problems
• Cost of set-up/maintenance
• Meeting demand
• Distribution needs
• Insurance and licensing
• Safety of goods in delivery
5. Cont.…
¡ Be able to create webpages or a websites for a
started business needs
Ø Web-pages:
• Design
• Layout
• Fonts
• Colors
• Images
• Created on appropriate software
Ø Needs of the business:
• Reaching wide audience
• Accurate product details
• Information sharing
• Targeted promotions
• Making sales
• Secure payment systems
• promoting logo/brand
Ø Need of the customer:
• Secure payments systems
• Accurate information
• Availability of products
• Speedy delivery
• Easy navigation
• Search facility
¡ Know the impact of an online business presence
Ø Benefits:
• Wide audience
• Global online presence
• Access to websites from phone/computers –
distance shopping
• Ordering systems
• Enquiries can inform market research
• Delivery
• No need for expensive high street location
Ø Impact on society:
• Less mobile people can access products and
information
• 24/7 shopping available
• Less demand on high street for certain products
leading to store closures
• Increased competition – lower prices
• Social isolation and associated health risks
6. Solution Approach &
Implementation
¡ If you are a publisher, you need to
experiment with alternative revenue
sources to stay profitable.
• Native advertising
• Behavioral Data
• Paywalls and Content Lockers
• Affiliate Marketing
¡ Key of Success:
• Product High Adoption (Revenue Associated) – Cost, Time and
Scope
• Customer Matrix/Deal –Checked off
• Customer Satisfaction/Engagement
7.
8. Future of IoT Source:
Accenture estimates that it could add more than $10 trillion to the global
economy by 2030