The importance of existing firms to evolve an e-commerce strategy has been stressed by many specialists. All organisations should pose the following questions: (a) does the internet change the target or scope of the market, (b) does the internet help satisfy customer needs and (c) will customers use the Internet over the long time? One way of examining these issues is for each firm to examine which of the following benefits can be offered io customers through involvement in e-business:
? Convenience in terms of being able to provide access 24 hours a day, 365 days a year. Furthermore in the case of consumer goods, the customer can avoid driving to a store, having to acquire knowledge by undertaking an in-store search and queuing at the checkout.
? Less hassle because customers can avoid having to negotiate and debate with sales staff when buying the product.
? Multimedia which, through exploitation of the latest technology, enables customers to develop detailed knowledge about how their needs can be satisfied, for example, examining 3-D displays when selecting the best fabric design for a piece of furniture).
? New products and services such as being offered knowledge management software tools when accessing on-line financial service providers (for example, in the stock brokering and banking sectors).
The internet also offers the following benefits to firms, namely:
? Lower costt through actions such as replacing a terrestrial outlet with an electronic database which the customer can visit when seeking knowledge about products or services.
? Improved distribution because once information-based products such as magazines or software are made available on-line, the company can achieve global knowledge distribution without having to invest in obtaining placements in terrestrial distribution channels.
? Relationship building because via a web site the firm can acquire data on customers’ purchase behaviour that can be used to establish a knowledge management system for guiding the development of new ways of delivering higher levels of customer service.
? Rapid market response because having recognised the need to respond to changing market situations at virtually the click of a button, the company can rapidly distribute knowledge about new products or terms and conditions of purchase to customers via the internet.
So, if you realized that e-business is a business of future, you can make the first steps in establishing your own e-business.
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For consumers shopping online, it is easy to find what they are looking for, to match goods more precisely to their particular requirements and to compare prices. This is especially true for homogeneous goods like CDs, books and software, but also for more complex products, such as airline tickets and mortgages.
Suppose that you are looking to buy a music CD on the web. There are two ways to do this. You can either use any standard search engine, such as Yahoo, Google, type in what you want and get an enormous list of websites, then visit and interrogate each of them “manually” to find the price of the CD. This can be very time-consuming, and realistically, you will be able to check only a few of these sites. But it is still probably better than trawling round or telephoning stores, so there can be significant transaction cost savings from buying
A more efficient alternative is to employ a “ShopBot”. Here you pick the category “music CD”, type in the name, and let the ShopBot visit many sites,’ interrogate them to find the price, and return with the lowest price (or an ordered list of prices, starting with the cheapest). If you were to shop for the CD in real shops, you would need to spend time visiting or calling the shops to find out the price.
Consumers undoubtedly benefit from shopping online. But there are also substantial benefits for retailers. For a start, sellers too can take advantage of reduced search costs to monitor each other’s pricing behavior and may even be able to maintain higher prices.
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Membership in Wealthy Affiliate will make it possible for you to communicate with the best e-marketers in the world. Moreover, you will be able to use membership package in development of your own site. Wealthy Affiliate will offer you a practical course which will help you grow your business.
Wealthy Affiliate is a trusted community that already helped thousands of people. Membership package includes many options necessary to e-businessman. Thus you will be able to use free hosting and start a new site. Besides, if you do don have own products to sell, don’t worry. You can find many people at Wealthy Affiliate Forum who need promotional support for their businesses.
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Within less than a decade, the Internet has grown from being an obscure technology used by government officials and academics to what many have heralded as ‘the future of business’. With phenomenal and unprecedented growth in the number of users, as well as the amount of information that can be accessed, the Internet has become the fastest-growing medium in history.
Because the rise in Internet usage has been so fast, it’s real business impact has often been hard to assess. At the close of the last millennium, it seemed that the new breed of slick and shiny Internet start-ups would be the real winners of the online era. Traditional ‘bricks and mortar’ businesses were confined to the sidelines as the real world and cyberspace seemed completely incompatible.
The success of both large and small real-world business on the Internet, however, has brought about a radical rethinking the significance of e-business. Many more companies are reaping real and substantial rewards via their online effort. There are the big US names of Web profitability (AOL, Yahoo, eBay and so on), but there are also thousands of small companies around the world that have figured out how to make a profit. Equally, more established companies have discovered ways in which to use the capabilities of the Web to expand their businesses or offer customers better service.
While the Internet is now universally recognised as being an important business medium, many business owners and managers remain unclear about what it can do for them. To gain this understanding, it is important to comprehend why, when and how people use the Net.
The steady increase in the number of sites has meant that the battle for attention has become harder. At one time, opening a website could get you a mention in the press. Those times have now passed. Websites that get lots of visitors can often have a well thought-out promotion plan to thank for it.
Such a plan should really be ready before the website is built. There are two reasons why it is sensible to think about how to promote the website in the early stages of its development.
- The company could discover that they are not in a position to promote the website properly; through budgetary constraints, for example. The company could reach the conclusion that it is wiser to spend less time and money building the site and more time and money on promoting it.
- By thinking about how to promote the site, it is possible to learn a lot about its potential visitors. This knowledge can be a good departure point for the design of the site.
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When the Internet began to be used for commercial purposes back in the mid-1990s, no one could have predicted the effect it would have on the business world. Web sites were viewed as optional extras that looked impressive, but didn’t actually do very much. E-mail was treated with suspicion and considered by many as either an impersonal or an impractical way of communicating. Now, however, things are different. As millions of people around the world now use the Internet on a regular basis, any business worth its salt is expected to have a Web site and to keep in touch via e-mail.
Cheaper Internet access, ever faster and more powerful connections and the rise of the ‘mobile Internet’ have all played their part in an online revolution. The main factor is the Internet itself: a vast network of information and resources that also allows people to interact with each other from anywhere in the world. However, it is not enough to recognise the significance of the Internet without understanding what it means for your business. We therefore need to take a closer look at how the Internet is used.
Succeeding at e-business is not a question of six-figure marketing budgets or technological wizardry. Rather, it is about understanding how and why people use the Internet-There are four main reasons for people going on the Internet.
These are:
? to find information
? to be entertained
? to interact
? to shop.
If a Web site cannot satisfy any of the above criteria (and many don’t), it is unlikely to become a cyber success. If, on the other hand, you design your e-business efforts from the perspective of the end-user, you will be on the right track. This ‘outside in’ approach is the key to every effective site, from Amazon to Yahoo! Even if your online activity is only intended to support or supplement your offline business, you must be able to offer something of real substance, be it information, entertainment, interaction or fantastic products. Furthermore, although the world’s population of e-shoppers is rapidly on the increase, online shopping is a completely different practice to shopping on the high street. For a start, nobody is going to just ‘pass by’ your site and make a spur of the moment purchase. People who arrive at your site are there because they have sought you out, not because you have an attractive workplace or because you are conveniently located.
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Thus, with a membership in Wealthy Affiliate, you will take a training course. During this course you will be able to use theoretical knowledge in practice. In case you have any questions you have the guides and tutorials. You can also ask questions at Wealthy Affiliate forum. Top specialists will be more than happy to answer your questions.
Moreover, Wealthy Affiliate forum is an opportunity to find contacts of people who are looking for partnership and cooperation in e-business. Thus, you can promote somebody else’s business, if you do not have own products.
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Now that you know starting a Web-based business is the path you want to take, you are going to have to decide what type of business you wane to start. Before you go any further, you want to identify your niche. In a very real sense, your niche will play a huge role as to whether your Web-based business flourishes or flounders.
WHAT IS A NICHE?
A niche is a narrowly defined target market. To run a successful Web-based business, you need to identify your niche and become an expert in that area. You will become an expert in your niche after you have identified your target market and have determined how you can meet your target markets needs by offering a unique product or service. Additionally, by having a strong grasp of your niche, you will be able to tailor your Web site to that specific niche.
One of the keys to your Web-based business s success is to blow and understand your target market. If you do not have a dear idea of who your target market is, what your target market needs, and how to fulfill your target market’s needs, your Web-based business will not be able to realize its potential.
Once you have narrowed your niche down to the type of travel you want to concentrate on, you wil! likely want to narrow it down even further. Say you have decided you want your niche to be budget travelers. Who are the budget travelers to whom you are marketing? Students? Women? Men? Americans? Canadians? You will want to define the demographics of your budget traveler market before you determine what type of product or service you are going to offer.
When you are researching your target market, you will want to answer the following questions:
• What is the age range of those who want or need your product?
• Does your product or service appeal to a specific gender or to all genders?
• What ethnicity is your target market?
• What are the typical spending and buying habits of your target market?
• What is your target market’s education level? High school, some college, college graduate, graduate degree, post-graduate degree?
This is all marketing. You are to establish connections to your customers. In e-business this is not an easy task since you never meet your customers in person.
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Blogging is one of the most popular Internet activities today — for individuals who want to get their opinions heard and businesses that want to publicize their products or services. Because Hogging is a quick and effective way to reach audiences, many businesses have begun to realize that having a blog is essential to staying ahead of the competition.
Essentially, a blog is an online journal in which bloggers discuss whatever is on their mind. For business owners, blogs are a popular way of generating buzz about a product or service and establishing expertise in their particular industry or niche. Blogs are updated frequently. If you choose to have a blog, you can publish new content daily, several times a week, or weekly. It all depends on how much time you have to devote to your blogs.
Benefits of Blogging
Why blog? Ask any business owner or individual who blogs, and you are likely to get a variety of different reasons. As a Web-based business owner, you will find that blogging provides you with such benefits as:
• Feedback. If a reader does not like your latest product idea or thinks your product or service is one of the best in the industry, he can quickly post a comment.
• Fresh content keeps your business at the forefront of your customers’ minds.
Another great way to market your business is to sign up for an affiliate program. After you market your affiliate program and have affiliates, cultivate relationships with those affiliates. Make their lives easier by informing them when a sale has been made through their promotion and send them e-mails from time-to-time updating them about your latest products or services.
Ultimately, creating an affiliate program docs take work, but the potential benefits far outweigh the time you will have to put into creating your banners and links (or outsourcing someone else to do it for you), setting up the program, and finding affiliates.
When you join Wealthy Affiliate community you will immediately feel all the benefits. By purchasing membership you do not only gain access to all Wealthy Affiliate resources and forum, but also have an opportunity of undergoing special practical course.
Thus, unlike most of e-marketing resources Wealthy Affiliate offers training program. You will be able to apply the knowledge you have acquired in practice. What kind of practice will it be? You will establish a real web site and start earning real money with it!
Wealthy Affiliate can be helpful for a wide range of businessmen. Those who only start new e-business can learn e-marketing ABC. Those with experience in e-marketing will learn the newest methods of e-promotion.
Even people with no own products to sell can benefit from Wealthy Affiliate since they will be able to find people in a need of promotional support for their businesses.
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The key to any successful Web-based business is building customer loyalty to ensure they return to your business again and again. Even when your customers are not buying from you, you want your business to remain at the forefront of their minds.
There is a plethora of ways to keep your customers returning to you again and again, and many of them are actually free. All they require is effort, some imagination, and time on your part.
SET UP YOUR OWN AFFILIATE PROGRAM
Affiliate programs are an excellent way of getting other people to promote your products or services. You provide each affiliate with banners or Links they can place on their Web site to promote your products or services. In exchange for their efforts in promoting your products or services, you offer them a percentage of every sale they make.
There are various other benefits to having an affiliate program for your produces or services, including:
• With links to your product or service, you will receive a lot of exposure and potentially reach millions of Internee users.
• While your affiliates are busy promoting your products or services your time is freed to concentrate on other marketing efforts.
• Chances are your sales are going to rise much faster than if you alone were promoting your products or services.
• You do not have to pay anything upfront. Unlike traditional advertising where you have to pay upfront, you do not pay your affiliates until after they have made the sales.
• The opportunity for unlimited growth exists. If your affiliate program is of high quality, you will attract more and more affiliates who may refer other affiliates to you.
• Affiliates are going to drive traffic to your Web site. Even if visitors do not purchase from you during their first visit, they may opt-in to your newsletter, if you have one, or add themselves to your subscriber list.
Before you join any affiliate program you need to answer key questions:
• Will your affiliates have a Web site that mirrors your own; Is each affiliate given a template of your Web site and a Web site address from which to promote your products?
• Will your affiliates earn commissions based on purchases only? Or do you also want to offer commission on the visitors they drive to your Web site based on clicks?
You should have no worried when purchasing Wealthy Affiliate membership since you will only benefit from this program. Wealthy Affiliate is a trusted community of e-marketers and thus it will help you grow your business as much as possible.
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Once you have published your Web site and have officially declared your Web-based business open, you are going to have to work hard to build a loyal customer base. There are dozens of marketing methods — both free and those requiring funds — you can use to get the word out about your Web-based business.
Do not limit yourself to one marketing strategy. Try several strategies at the same time and evaluate them to see which is working best for you. There arc many marketing strategies that are easy to implement and that will get your Web-based business die publicity ir needs to build a loyal customer base.
Following are some of the best ways to publicize your Web-based business. Remember, however, that marketing is an ongoing process, and it is going to play a role as long as you are in business. Once you create a loyal customer base you must continue to market to retain your current customers to gain new ones.
An easy and free, albeit time consuming, way to promote your Web-based business is to create articles and submit them to e-zines and article directories. The benefits of writing articles and submitting them arc varied. First, you will have the opportunity to further establish yourself as an expert in your niche. Experts are often revered and trusted sources of information, another huge benefit.
Some article directories will allow you to use embedded links or hyperlinks in the article’s text. A hyperlink is a link that points to a specific Web site or to another part of the same Web site. (Hyperlinks, however, are not limited to the Internet; you can also use hyperlinks within Word and other offline documents.)
To create a hyperlink, highlight the word or words that you want users to click to take them to a specific Web site. After highlighting the word or words, right dick with your mouse and dick on “Hyperlink.” A page called “Insert Hyperlink” will open, and you will simply type the Web site address to which you want to link when the hyperlink is displayed, it will usually turn blue and become underlined. You can make use of hyperlinks in articles you submit to directories that allow the embedded links in the articles themselves.
This is only one of the numerous methods of free e-marketing. If you really want to become a professional in the field of e-marketing you will certainly have to purchase membership with Wealthy Affiliate.
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