Several factors have a role in the success of any e-commerce venture. They may include:
- Providing value to costumers. Vendors can achieve this by offering a product or product line that attracts potential costumers at a competitive price, as a non-electronic commerce.
- Providing services and performances. Offering a responsive, user-friendly purchasing services, just like a flesh-and-blood retailer, may go some way to achieving these goals.
- Providing an attractive website. The tasteful use of color, graphics, animation, photographs, fonts, and white-space percentage may aid success in this respect.
- Providing an incentive for costumers to buy and to return. Sales promotions to this end can involve coupons, special offers, and discounts. Cross-linked websites and advertising affiliate programs can also help.
- Providing personal attention. Personalized websites, purchased suggestions, and personalized special offers may go some of the ways to substituting for the face to face human interaction found at a traditional point of sale.
- Providing a sense of community. Chat rooms, discussion boards, soliciting customer input, loyalty schemes, and affinity programs can help in this respect.
- Providing reliability and security. Parallel servers, hardware redundancy, fail-safe technology information encryption, and firewalls can enhance this requirement.
- Providing a 360-degree view of the customer relationship, defined as ensuring that all employees, suppliers, and partners have a complete view, and the same view, of the costumes. However, costumes may not appreciate the big brother experience.
- Owning the costumer’s total experience. E-tailers foster this by treating any contacts with a customer as part of a total experience, an experience that becomes synonymous with the brand.
- Streamlining business processes, processes, possibly through re-engineering and information technologies.
- Letting customers help themselves. Provision of the self-serve site, easy to use without assistance, can help in this respect.
- Helping costumes do their job of consuming. E-tailers can provide such help through help through ample comparative information and good search facilities. Provision of components may assists e-tailers o define the consumer’s job.
- Constructing a commercially sound business model. If this key success factor had appeared in textbooks in 2000, many of the dot.coms might not have gone bust.
- Engineering an electronic value chain in which one focuses on a “limited” number of core competencies- the opposite of one-stop shop.
- Operating on or near the cutting edge of the technology and staying there as technology.
- Setting up an organization of sufficient alertness and agility to respond quickly to any changes in the economic, social and physical environment.
Watch this video and you’ll be introduced to the basics of the E-commerce industry and business with pictorial examples and explanations. It will also guide you if you are looking to learn more about E-Commerce or you are looking to start and E-commerce\Online business.