e business: October 2007

For Making Your E-Business Solution A Success

Once you have decided to enter the online business scene you have taken the very first step, although the task ahead is not very simple. A reputed research company, the Gartner group, states that approximately 75% of the e-business projects that are started do not succeed as a result of planning that is not adequate and also due to very high expectations that are not realized. The profits that are actually estimated in the planning process does not get realized when the e-business solution is put into practice because the management of affairs and the execution of the plans are not as desired. Management of the business affairs is what is at fault in most cases where the implementation of the ebusiness solution fails. Some common mistakes that are seen are inability to understand the project, not being able to conceive the larger picture and expectations that are too high.

Pitfalls of E-business solutions installation process

Considering a case where a huge distribution firm has made the decision to use a new technique of managing an online supply chain. Those who were actually supposed to execute the solution had very little knowledge about the system and did not believe that the new system could be successful. Due to hurdles like these, it took approximately a year for the company to put the new system into practice. The time delay led to cost overrun and the cost incurred was very much higher than that expected. This is a common problem faced by many companies in the successful implementation of their ebusiness solution.

There could be several problems like the people who are to actually execute it do not really believe in it and thus, do not spend enough time to understand the ebusiness solution. Without knowing it themselves they would not be in a position to pass on appropriate orders lower down. They are unable to lay down any specific objectives and targets. Thus, they do not make a whole hearted effort in the execution of the new e-business solution as they don’t expect it to achieve any great results.

There may also be cases wherein the IT related infrastructure is not sufficient to support the latest ecommerce solution. Due to a lack of understanding and communication the funds allocated and the time spent for the execution of the solution is not adequate. Sometimes the new ecommerce solution formulated would be such that it complements the old solution and thus, if it does not involve proper planning then it may result in incompatibility problems.

How to avoid pitfalls

The implementation of ecommerce solutions has a far reaching impact on the company and therefore, proper planning must be done for successful implementation of ecommerce solution.

Preparation

The ecommerce solution must be prepared after careful planning and taking into account the requirements of the different user groups. The ecommerce software devised must have answers to questions like:

• The aim of the ecommerce solution

• The areas the solution is meant to address together with a great ecommerce web site design.

• Is it economically viable to implement the ecommerce solution?

• The target that the solution aims at meeting

It is important that you have a team of experts or a good web design company who would look after matters related to the implementation of the solution. The resources required for implementation must be allocated and the deadlines specified. The experts must at every stage consider the developments taking place and must see to it that the targets are met from time to time.

Education and Training

Education refers to finding the right team of experts who would be able to implement the solution successfully. The objectives and goals to be achieved must be laid down clearly and the staff must be trained so that they understand not only the details regarding the solution but also how significant it is for the organization. Evaluation must be done from time to time and the progress must be compared with the targets to ascertain if the targets are being met or not.

Implementation

The ecommerce solution must be implemented as per plans so as to employ the resources efficiently and ensure that the targets are met. The senior management must evaluate the performance on a regular basis to see that the program goes as per plans. The solution must be evaluated at every stage and must consider the requirements of all the user groups. The satisfaction of all the user groups is very important for the successful implementation of the solution. Understanding the technology required for the implementation of the solution is very important, if need be employ the services of a professional so that you not only save on cost but also effort.

One must however, understand things and thus, have realistic expectations. The ecommerce solution is going to take time for bringing about the desired results and a change overnight should not be expected. A step by step plan and evaluation is necessary to ensure its success. Some of the ebusiness solutions that help in attracting customers include business portal, e-marketplace and the like. First of all, the business must consider the various factors and determine if there is a requirement of a new ebusiness solution for the business and whether it is economically viable to implement it. It would be helpful to keep abreast of the changes in technology and also the strategy implemented by the competitor.

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The 10 Most Important Statistics For Ecommerce Websites

Have you ever heard the maxim “you don’t lose wait by weighing yourself?” However, I actually take issue with this statement. Not in regards to weight loss, but rather in reference to monitoring web analytics. Every time I check my site stats and see improvement, I’m motivated to create even better results.

Below I’ve compiled a list of what I consider to be the most important metrics to monitor for eCommerce sites.

Landing Page Bounce Rates: A bounce occurs when a visitor visits a page on your site, and immediately clicks away and goes no further. High bounce rates can be caused by a number of factors including excessive loading times, irrelevant content, unattractive site design, etc. Be sure to monitor your bounce rates on all your important entry pages including your home page and any SEO or PPC landing pages.

Landing Page Load Times: As mentioned above, excessive page load time can wreak havoc on your bounce rates. Monitor your page load times on different connection speeds with a free tool from WebSiteOptimization.com

New Visitor Conversion Rate: Most online retailers rarely differentiate between their new and return visitor conversion rates. By isolating the new visitor conversion rate, you’ll be able to see a clearer picture of what’s happening when first time visitors land on your site from search engines or other ad campaigns.

Return Visitor Conversion Rate: Unfortunately, not everyone buys on the first visit. The next best thing, however, is getting them back to your site. By analyzing your return visitor conversion rate, you’ll see how likely you are to convert your return traffic. Most likely, you’ll find that your return visitor conversion rate is the higher of the two.

Orders Per Customer Per Year: Come up with a calculation of how many times a customer order per given time period. This serves as a good tool for determining how much you can afford to spend on marketing or re-marketing.

Page views / Visit: Page views per visit can reflect how well your site engages your audience. An increasing number of page views per visit can indicate that your content is interesting, therefore visitors are spending more time browsing it. However, a high page views per visit metric can also indicate unnecessarily complication processes such as checkout or product browsing.

Items / Order: If your site has a suggested product feature to encourage add-ons, you would benefit by tracking how many items you sell per order.

Average Order Value: While your target average order value will vary greatly based on your industry, it would be wise to monitor this metric over time. Ideally, you’d like to see a year over year increase.

Traffic Sources: Google analytics breaks visit sources into 3 categories: Direct visits (from typing your URL directly), Search engines visits (both S.E.O. and P.P.C.), and referring sites (any other sites linking to yours). Obviously, the percentage of visits from each of these sources will vary for every site. However, as your brand grows, you’d like to see more visits coming from direct URL entry. These tend to convert better.

Shopping Cart/Checkout Abandonment Rate: Measure what percentage of visitors abandon the shopping process at each step in your checkout. For example, how many abandon after adding an item to the cart? After entering shipping & billing info? After entering credit card info? Too high of an abandonment rate could signal a serious checkout problem.

eBusiness Launch - Tips To Get You Started

So you've decided to launch an Internet based business. Congratulations! You've taken your first step towards establishing yourself in global markets and taking your success into your own hands. Now what do you do? For starters, you need a domain name, a web page, and a way to take your orders. It can be quite a daunting experience to take these first steps into eCommerce. Here are some tips to help you get started on your way.

Your domain name will identify your particular business on the internet. When registering and deciding on a domain name for your business there are a number of things you need to consider.

ourproductsarethebestontheweb.com - Avoid using excessively long and tedious domain names. Choose something simple and easy to remember. Also try to use popular keywords that people would use to search for products or services such as yours. This can help you get ranked higher in search engines as well as help consumers remember your site.

.com vs .biz - Always use .com instead of .biz or .info. Your company will be taken more seriously. If necessary you can use .net, but more people are familiar with .com and will remember it more easily.

Shop Around - There are a number of sites that offer domain registration. Prices vary, but expect to pay a yearly registration fee. Some popular domain registration web sites include GoDaddy.com, Web.com, and Register.com. Many domain registrars also offer web design, web hosting and email.

A web site is like having a store front in every corner of the world. What do you want people to see when they look in your window? Consumers today are more intelligent and wary than when the web was in its infancy. You need your web page to project a professional image, draw your customers in, and keep them interested long enough to see the value of doing business with you instead of your competitors. Easier said than done right? Successful web design is crucial to converting your web visitors into web sales. Here are a few avenues you can take to achieve a successful web site.

Hire Someone Who Knows - There are countless companies out there that you can pay to develop a professional web site for your business. Ask around. With so many to choose from, referrals are usually the best way to find a reliable and affordable company, or even person, with the expertise to create a professional web site for your needs.

The Fruits of Other's Labors - Web page templates are a less expensive alternative to having a site custom made. On average templates range in price from $13 to $300 dollars depending on how original you want your site to be as well as how large. Some come with only an index, or front page, while still others include the index as well as supporting content pages. Some templates will require you to have some basic knowledge of html editing and working with a graphics program such as Adobe Photoshop to tweak the site to fit your business. Other templates allow you to simply enter in your text in the pre-designated boxes and you're ready to go. A good place to start looking is TemplateMonster.com.

Head Long and Feet First - For the ambitious or those on an extremely tight budget, there is a third solution. Do it yourself. There are many web page editing programs available and you may even have one on your computer already and don't even know it. A few of the most popular are Macromedia Dreamweaver, Microsoft Frontpage, and Adobe GoLive. All come with tutorials and if the help you need is not found there, it is not far away. Type your question into your favorite search engine and you're sure to find the information you need. Surf the web and look at other web pages. See what you like about them and what you don't. Does it look professional? Why? Does it inspire confidence and reliability? How? Most importantly, be patient with yourself. This is a big project you are undertaking and a lot of the learning will happen by trial and error.

No store, online or offline, can be successful without a way to make sales and take orders. With an online store you have a couple of options. Some businesses will want to encourage their customers to place their orders online, others will want them to call to place their orders, and some will want to offer both options.

Virtual Shopping Carts - If you are selling a number of different products online, a shopping cart will be necessary. This will allow your customers to add things to their cart as they shop your online store. Unless you are a programmer or having your site professional designed, you will need to find a shopping cart that you can add onto your site. You can choose to buy your software or take advantage of a free one such as that found at osCommerce.com. There are advantages to both paid software and free. Your exact needs will determine the best course for you.

Phone Orders - Because of the high rate of fraud on the Internet, many consumers feel more comfortable placing their orders over the phone with a live person. They like knowing there is a person behind the page. You will want a professional sounding phone system. Something more than your cell phone with voicemail. One of the best solutions for web based businesses is a virtual phone system, or virtual PBX. They allow you to forward your calls to any location - home phone, cell phone, VOIP phone - give you a professional sounding main greeting, multiple extensions and voicemail. Many will also allow you to have automated order taking over the phone, send and receive faxes, and receive messages to your email. You want to make sure that the professional business image you are presenting with your web page is continued when your customers calls you. Freedom800.com is a good place to start looking at what virtual PBX systems have to offer.

Starting an online business is an exciting time. It can also be a confusing time if you are unfamiliar with what it takes to establish yourself on the web. Getting your domain name, a professional website and setting up an order taking process are some of the first things that you will need to do to get started. The best of luck to you in your new business.

Ecommerce - Know More About Ecommerce and How You Can be Successful at it

Ecommerce is the great trend done by many online marketers nowadays. This is not shocking because the mere fact that the number of persons going online is very massive. Cyberspace has offered such a huge market for different people in the world. Though it is popular, not all marketers become successful.

Competition is unavoidable that is why one should consider applying smart techniques and strategies in order to have great profit from it. But is ecommerce difficult to understand? You might think that starting a business online is complicated but the truth is, it not that hard to manage. Though you must be wise enough in making decisions and you should consider all the factors in order to get your industry up and growing. You can give freebies or offer free shipping. No one would want to pay shipment charges so if the shipping is free. With this, there is a greater chance that your customer will purchase great amounts of orders from you.

For those who are just starting up, you can first find time to gain enough profit before you can decide to handle shipping costs. Give them the best customer service you can offer. A business would not be successful if it does not give quality service. Focus on what the customers need and answer to those necessities. Make them feel that they are not neglected. They should be on top of your priority so take good care of your clients. It is better if you can gather feedback from the.

No matter how awful their feedbacks may be, do not hesitate to accept it all because in this way, you will know the flaws of your market. Once you know where to enhance and develop, your business will surely be worth it all. Gaining your customer’s trust is very important also. So respond to them genuinely and urgently.

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