Making Money Online
By<p>By 2014 Forrester Research, Inc. estimates that business-to-business commerce on the web will hit $2.7 trillion. It’s true that the web can be a highly profitable venture, but without careful planning, your business may flounder before it ever makes money. Following these steps can help you plan a cohesive strategy before you sell your first product.
Customers don’t always come to a web site to buy products. Sometimes they come for information. Tell them about the products you sell, give them your store hours and phone number, provide a map so they can find your shop. Even though you haven’t sold them anything, you’ve given them value. Customers will come back to your site if you provide value.
Can customers pay online with a credit card? They increasingly like the convenience of this. The order is placed quickly and they receive an instant confirmation receipt. Post your site to a trustworthy web-hosting provider- Your site is effective only when people can see it. Promote your web site- Promote your site every chance you get. Search engines are a great way to do this because they bring in a target market. Add relevant keywords and a description to the metatags and then register with the search engines. If you are unfamiliar with metatags, some software packages will help you add them and submit your site to search engines.
Put your web site on your business cards, print it on receipts, put a sign in your store window, tell people you’ve started a website. A link exchange is useful. Make sure your links are relevant and compliment your site. Web statistics can provide important information. You may be getting a lot of visitors, but very few orders. Change your business based on the information you receive and know. Customer feedback is like a free business consultation, if you know how to use it.
For example, he says, Home Depot has a low price strategy in their stores. Low price is the driver in the Outernet, Ries maintains, but that will change. Research shows, he notes, that the Number One reason people give for buying in retail stores is price. But the Internet soon will offer the best buys and the Outernet will be forced to make great service its main selling strategy. There is a high end, but it’s a tiny share of market.
“The Number One retailer in America is Wal-Mart. Their theme is ‘we sell for less.’ Because of the Internet Wal-Mart could potentially be in trouble strategically. They have to move toward service because Internet companies will be able to sell the same products for less money because as a result of their lower overhead.”
INTERNET CAN’T PROVIDE A HAND SHAKE
Observers say that many shoppers will use the Internet for research but make their purchase at an Outernet store. Ries concurs. The consumer’s ability to get instant price comparisons on the Internet will force most Internet retailers to have a price orientation.
Projections were order amoxil that 60 percent of car sales would be made over the Internet by 2005, says Ian Robertson, director of the EIU’s automotive group.
Some may insist that Internet businesses will provide low price, convenience and service. Others will note that the trend toward one-hour delivery by companies like http://www.kozmo.com will add the element of instant gratification now missing from the online experience.
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