Using Electronic Commerce To
Market Your Business
Not
too long ago, companies that simply established an Internet presence were ahead
of the game. Now, to remain competitive and accomplish business goals, these
same companies must do more than put up a static site. They need to maximize the
use of the Internet in conducting their business. Used correctly, electronic
commerce can give your business a marketing boost.
What E-Commerce Can Do For You
There
are numerous benefits to using electronic commerce. First and foremost, it
enables you to provide services more quickly and more cost-effectively on a much
larger scale. E-commerce allows a huge population instant access to your company
– 24 hours a day,
365 days a year – while at the same time providing you with an opportunity
to save on costs. For example, because e-commerce lets you electronically link
marketing, distribution, and customer services, you may be able to drastically
reduce expenses. You’ll also save money on personnel, phone, postage and
printing costs.
E-commerce
also allows you to learn more about the people who are spending money at your
Web site. You can use tracking systems to quickly pull together invaluable
information about your customers: demographics on age, sex, financial status,
purchasing habits – all information that not only enables you to service your
customers better, but allows you to target individuals fitting a similar profile
who are potential clients. The net result is an opportunity for your business to
grow.
E-commerce
can also help you improve your customer relationship. Site surveys and feedback
forms enable you to get input from customers and others who visit your Web page
– giving you the opportunity to provide immediate responses. Based on the
information you obtain, you can modify or refine existing products. This
information also enables you to design new
products and/or services to meet an expressed need.
A Few Tips On Getting Plugged In
Of
course, e-commerce is technology–based, and if you’re not a master of
technology, you may need some help. Specifically, conducting business on the
Internet through your own Web site requires investments in cutting-edge software
and hardware and in creative services that can easily get out of hand without
strong oversight. An expert computer consultant can advise you on software and
hardware needs. You’ll also want to seek guidance on ways the Web site server
may need to be connected with other elements of your corporate network. For
example, if you’re selling something over the Internet, you’ll want your
sales site connected to your accounting software so you can track not only the
actual sale, but also your inventory. A failure to take this step will mean that
your site will be less efficient and will demand higher overhead.
Designing Your Web Site
When
you design your Web site, focus on navigation. Sites that rate poorly with
customers may be well designed – but are not easy to navigate. If getting from
your home page to your service or product description page involves too many
mouse clicks, you risk losing customers. And be sure to keep your site updated.
You may not have new information to post every day, but it’s important that
your site be kept current.
Also,
keep in mind that privacy and security are top consumer concerns when it comes
to Internet transactions. This is something you should address as you expand
your Internet capabilities. In the United States, the Federal Trade Commission
now requires that Web sites post a privacy policy online and that the company
follow the stated policies.
Speak
with your CPA about obtaining a CPA WebTrust seal of approval for your site.
This seal attests that your site addresses all three consumer concerns about
doing business over the Internet: security, privacy and sound business
practices.
Something else to think about is that electronic
business transactions can only be successful if financial exchanges between
buyers and sellers can occur in a simple, universally accepted, safe, and
inexpensive way. Various systems have been proposed, some of them based on
traditional mechanisms (credit card accounts), while others rely on new designs,
such as electronic money. The key for success in your organization will be to
find a few widely accepted mechanisms that can be used by most clients.