Expanding Your Business through electronic commerce aka e-commerce Benefits of “being connected” and E-Commerce  Opportunity for increased revenue  “ 24/7” = Convenience to clients  Enhanced Customer Service  Potentially lowering overhead More WWW Benefits for Small Businesses  The Power to Educate!  Expanding into new territories…including the “global market”  The ability to know your industry and find new opportunities  The power to track sales  The opportunity to compete with “the big guys” Factors to Consider Before Launching into E-Commerce Exactly HOW will your company utilize the web to enhance services? HOW will you integrate technology into your marketing strategy? How will you continue to develop great customer service? HOW will you create a meaningful presence? How will you measure success? Key Issues to consider before you launch a web presence? • Getting and staying on the WEB normally takes more time and energy than small businesses expect…that is why three out of four small businesses not operate web sites • Consider the costs for “launching” and maintaining • Do you have the resources? - HR - Money - Time Technology - Integration Business Planning Plan before you start! Develop a plan that addresses the following:  Site Design & Maintenance  Creating & Managing A Brand Name  Marketing & Promotional Strategies  Sales Check out new rules for  Customer Service writing an E-Plan  Costs: Start-up and On-going www ecommercetimes.com operational costs Myths of E-Commerce: Easy Money! • Setting up a web presence is “easy” and “cheap”, with ample rewards! • Yes, you can set-up an “electronic flyer” for presence, but a true website will/could cost $10,000 to $100,000 and take several months of planning, HR time and on-going maintenance More E-Myths • Making Money on the Web is Easy! (less than 50% of commercial websites are profitable) • The Most Important part of Website development is Technology (industry knowledge rather than technology is key!) • You don’t need a Strategy to sell on the WEB! (go back to target marketing 101) • Privacy and Security are no longer web issues! (there are still major challenges to gain e-marketing consumer trust) Myths of E-Commerce: “If you build it, they will come.” • Web sites need “Promotional Support” • Launching a web-site without promoting or telling your clients how to access it is like selling hot coffee without the cup • Keys to promoting the URL include: linkage, promotional material with the URL site, building web-relations, utilizing banners, hosting a chat room, writing articles on other sites that link to yours… E-Marketing Myths continue • Customer Service is Not as Important as in Retail Sales! ( not overlook the follow-up or 3rd “R” of marketing,retention and answer those e-mails!)  Always makes the website better (“more is not always better…know your tmarket”) Follow-up on E-Myths • CLICKS will cause all Bricks to come tumbling down ( webbase shopping will never fully replace the need for “real shopping.”) • It’s too Late! (Don’t worry, e-commerce is still in it’s infancy There is time!) Strategies for E-Success The basic success strategies for starting an E-Business are similar to that of developing a business- #1) PLAN Do your research and analyze your competition Integrate your Web Strategy into your overall business strategy! Consider focusing on a niche or a smaller pool of your target market Develop a “customer community” one with similar interests Make creative use of EMail, but don’t avoid it or spam your customers! Most Excellent Strategies for E-Commerce • Develop and Maintain a website with credibility, truth and timeliness (check out TRUSTe) • Form strategic alliances (on & off the web) to develop web referrals • Make the most of global reach (many ecustomers are outside the USA) • Promote your web site on and off-line Killer Web-site Strategies • Select the RIGHT Domain Name (netnames.com) - Short - Memorable - Close to your business name - Easy to spell • • • Make it Easy to Find! Establish Hyperlinks with other businesses Give the customer what they want Successful Website…  Include e-mail, contact names and numbers (toll free if possible)  Have the service of tracking orders online  Follow a simple design that is easy for the e-customer  Assure customers that the transactions are secure (verisign)  Are frequently changed and updated  Are professional in look and in follow-up service E-Commerce for Small Business Resources • ecommercetimes.com • ftc.gov (look into rules & • www.paloalto.com (web planning software and information) regs for online selling) • bbbonline.org (better business bureau) code of on-line business practices • sba.gov/managing technology topics • sbdcnet.utsa.edu (Getting Started in ECommerce Guide) • Verisign.com ... Do your research and analyze your competition Integrate your Web Strategy into your overall business strategy! Consider focusing on a niche or a smaller pool of your target market Develop a “customer... e -commerce is still in it’s infancy There is time!) Strategies for E-Success The basic success strategies for starting an E -Business are similar to that of developing a business- #1) PLAN Do your. .. know your industry and find new opportunities  The power to track sales  The opportunity to compete with “the big guys” Factors to Consider Before Launching into E -Commerce Exactly HOW will your