Transcript Chapter 9 - Stephanie Larkin

E-Commerce and the
Entrepreneur
Chapter 9
Ten Myths of
E-Commerce
(1 of 3)
If I launch a site, customers will flock to it.
Online customers are easy to please.
Making money on the web is easy.
Privacy is not an important issue on the web.
Ten Myths of
E-Commerce
(2 of 3)
“Strategy? I don’t need a strategy to see on the
web! Just give me a web site, and the rest will take
care of itself”
The most important part of any e-commerce effort is
technology
Ten Myths of
E-Commerce
(3 of 3)
Customer service is not as important online as it is
in a traditional retail store.
Flashy web sites are better than simple ones.
It’s what’s up front that counts.
It’s too late to get into e-commerce.
Strategies for
E-Success
(1 of 2)
Focus on a niche in the market.
Develop a community.
Attract visitors by giving away “freebies”.
Make creative use of e-mail but avoid becoming a
“spammer”.
Strategies for
E-Success
(2 of 2)
Make sure your web site says “credibility”.
Make the most of the web’s global reach.
Promote your web site online and offline.
Use the tools of Enterprise 2.0 to attract and retain
customers.
Terms to Know
(1 of 2)
Mashup:
a Web site or an application that combines content
from multiple sources.
Really Simple Syndication (RSS):
an application that
allows subscribers to aggregate content from their favorite Web
sites into a single feed that is delivered automatically whenever
the content is updated.
Social Networking:
Many small businesses drive traffic to
their Web site from their Facebook pages, Twitter posts, and
LinkedIn accounts. They use their Web sites as a “hub”
supported by the “spokes” of social media.
Terms to Know
(2 of 2)
Wiki: a dynamic collection of Web pages that
allows users to add or edit their content.
Widget: a low-cost application that appears like a
small television screen on a Web site, a blog, or a
computer desktop and performs a specific function.
search engine
optimization strategy
Natural (Organic) Listings: search engine listings
that are the result of “spiders”, power programs that
crawl around the Web and analyze sites for key
words, links, and other data.
Search Engine Optimization (SEO): the process of
managing the content, key words, titles, tags,
features, and design of a Web site so that it spears
at or near the top of Internet search results.
search engine
optimization strategy
Paid (sponsored) Listings: short advertisements
with links to the sponsoring company’s Web site
that appear on the results page of a search engine
when the user types in a key word or phrase.
Click Fraud: a situation that occurs when a
company pays for clicks that are generated by
someone with no interest in or intent to purchase its
products or services.
Tracking Web Results
Web Analytics: tools that measure a Web site’s
ability to attract customers, generate sales, and
keep customers coming back.
Cost per Acquisition: measures the cost that
company incurs to generate each purchase (or
customer registration).
Bounce Rate: measures the percentage of visitors
to company’s Web site who view a single page and
leave without viewing other pages.
Tracking Web Results
Cart Abandonment Rate: measures the percentage
of shoppers who place at least one item in a
shopping cart but never complete the transaction.
Conversion (browse-to-buy) Rate: measures the
proportion of visitors to a site who actually make a
purchase.
Privacy Policy
a statement explaining the nature of the information
a company collects online, what it does with that
information, and the recourse that customers have if
they believe the company is misusing the
information.
Designing a Killer Web
Site
(1 of 5)
Start with your target customers.
Give customers what they want.
Select an intuitive domain name.
Make your site easy to navigate.
Offer suggestions for related products.
Designing a Killer Web
Site
(2 of 5)
Add wish list capability.
Create a gift idea center.
Provide customer ratings and reviews.
Use online videos.
Establish the appropriate call to action on each
page.
Designing a Killer Web
Site
(3 of 5)
Build loyalty by giving online customers a reason to
return to your Web site.
Establish hyperlinks with other businesses,
preferably those selling products or services that
complement yours.
Include an e-mail option and a telephone number in
your site.
Designing a Killer Web
Site
Give shoppers the ability to track their orders online.
(4 of 5)
Offer Web shoppers a special all their own.
Follow a simple design.
Create a fast, simple checkout process.
Provide customers multiple payment options.
Designing a Killer Web
Site
Establish reasonable shipping and handling
Assure customers that their online transactions are
secure.
(5 of 5)
charges and post them upfront.
Confirm transactions.
Keep your site updated.
Test your site often.
Rely on analytics to improve your site.