A short assessment of the opportunities and challenges afforded by e business from a business perspective.
Although, the type of business has to be factored in, this is such a broad market segment that we can only discuss the main relevant issues in business.
A short assessment of the opportunities and challenges afforded by e business from a business perspective.
Opportunities
Open All Hours
Opportunities
Open All Hours
Anytime, anyplace, anywhere....this old mantra could not be anymore appropriate for any company that decides to go online as a business. MCommerce allows access to your product from any wireless device, mobile phones being the obvious choice.
Office Space
Anytime, anyplace, anywhere....this old mantra could not be anymore appropriate for any company that decides to go online as a business. MCommerce allows access to your product from any wireless device, mobile phones being the obvious choice.
Office Space
The cost of rent, utilities and general operational costs for an office or shop premises can put a huge strain on a business budget. The costs of keeping the the costs of expanding to other premises can really damage the business cashflow.
The cost of rent, utilities and general operational costs for an office or shop premises can put a huge strain on a business budget. The costs of keeping the the costs of expanding to other premises can really damage the business cashflow.
Web Content & Style
An online business can look exactly how you dream it to be. There is no limit to the amount of colour, design or content on your website. Anyone, operating on a small budget can build a site with the right tools and know how. See www.wordpress.com for idea's.
Blogging can be used as a research tool for gathering data and customer feedback. Google Analytics gives vital information regarding traffic, how many customers are visiting and buying from your site.
An online business can look exactly how you dream it to be. There is no limit to the amount of colour, design or content on your website. Anyone, operating on a small budget can build a site with the right tools and know how. See www.wordpress.com for idea's.
Blogging can be used as a research tool for gathering data and customer feedback. Google Analytics gives vital information regarding traffic, how many customers are visiting and buying from your site.
Staying Fresh
In reality, it is hard to understand why any company would not consider ebusiness as a relevant tool. The Internet is not going to become a thing of the past anytime soon.Making your business accessible, user friendly and relevant to a whole new or existing customer base makes good business sense.
In reality, it is hard to understand why any company would not consider ebusiness as a relevant tool. The Internet is not going to become a thing of the past anytime soon.Making your business accessible, user friendly and relevant to a whole new or existing customer base makes good business sense.
Challenges
Customer Loyalty
Due to the lack of physical interaction, customer loyalty might come into question. Creating a long term business to customer relationship can be tricky.The buying experience loses some of that personal touch that encourages repeat trade.
This blog from brandchannel.com discusses customer communication. http://www.brandchannel.com/home/post/UK-Study-Social-Media.aspx
This blog from brandchannel.com discusses customer communication. http://www.brandchannel.com/home/post/UK-Study-Social-Media.aspx
How long? followed by Disappointment.
Depending on the product or service being provided (online media being an exception), the customer might question the waiting time compared to simply just going to the local retailer. The customer does not have the luxury of touch,smell or taste that are associated with tangible products such as clothing or perfume.The onus is on the seller to provide a product that exactly matches the online description and the customers imagination.
Depending on the product or service being provided (online media being an exception), the customer might question the waiting time compared to simply just going to the local retailer. The customer does not have the luxury of touch,smell or taste that are associated with tangible products such as clothing or perfume.The onus is on the seller to provide a product that exactly matches the online description and the customers imagination.
Are you not Online?
Although, I am still of the belief that all businesses ,need to in some way,to appear on search engines. In wrongly thinking that everyone has Internet availability,there is a chance of losing an entire sub group of your market segment (depending on your product or service) . For example, would a retired couple with a passion for golf who live in town near a well known Golf Club, only buy their equipment and golf gear online?
Has your Customer read the Small Print?
Any business that operates online, holding information regarding both the consumer and their own company assets, are at risk of hackers, fraud or viruses. A company can warn about this in the terms and conditions of the business.The reality is if customers accounts are hacked, this news in the hands of the media can cause huge adverse attention to the company, not to mention a broken customer relationship and loss of income.
Every business will face challenges, as long as the benefits outway the disadvantages of putting your business online, it's a safe bet. You will really need to know what you are doing to reap the rewards,mistakes early on could cost you your business.
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