Friday, July 11, 2008

Ecommerce - Boost Your Business ROI

Did you know that over 90% of all online orders are processed by credit cards and that web sites that offer customers the ability to pay with credit cards can achieve up to 300% more sales than those that do not?

It's a fact. Not only do more customers buy, statistics prove that customers actually buy more when given the option to pay with their credit card. Here are some recent trends that will reinforce the need to sell your product or service on the internet- if your business is not yet doing so:

?At the end of 2000, over 400 million people- world-wide- had
Internet access. That number is expected to reach over 1 billion by the end of 2005!

?Almost 100 million people in the U.S. are now making a purchase after using the internet to conduct their research.

?U.S. Consumers spent a record $13.7 billion in online purchases during the 2003 holiday season. A follow-up study conducted jointly by Goldman Sachs, Harris Interactive and Nielsen/Net Ratings pegged sales during the 2004 holiday season at $23.2 billion, up 25% from the previous year. This comes at a time when traditional retail sales are growing in the low single digits.

?Forrester projects that total e-commerce sales in the U.S. will increase by approximately 20% per year, growing to $229 billion in 2008, making online retail transactions 10% of total U.S. retail sales by 2008.

In addition, in a survey conducted among more than 500 small business owners, the overwhelming majority indicated that they were either very satisfied or at least somewhat satisfied with their company's e-commerce return on investment (ROI).

It's no wonder- when compared to traditional forms of direct marketing such as mail order catalogs, the cost of establishing and maintaining an e-commerce website is minimal. Additionally, new affordable, user-friendly storefront applications simplify the task of establishing and maintaining a professional e-commerce website. It is now affordable and doable- even for the novice small business owner- to convert their brick-and-mortar operation into a click-and-mortar operation and triple their revenues in a very short period of time!

What's more, if your company sells products to consumers or businesses and you don't have a fully automated e-commerce website, your business is simply not operating at its full potential and you're sending customers to your competition!

It is no longer a luxury for the small to mid-sized retailer to have an e-commerce enabled site-but a necessity to stay competitive in the marketplace.

10 Second Internet Person, sound familiar?

Some people do not understand the Internet idea of online commerce, but then again some people do not understand themselves either. To fully understand Internet Commerce you really only need to monitor your "clicking habits" for a few days to see where you are going and what if anything you are buying. The modern Internet Consumer is there and gone, in a click of any eye, if you do not grab us with good stuff, SEE YA, we are out of here and the speed of light. However you can also make money on that fact and Google AdSense is just one way. Before you go hog wild on the Internet concept of making money in a virtual world you need to educate yourself a little; one of the books I recommend is:

"The 10 Second Internet Man@ger, Survive, thrive & drive your company in the information age" By Mark Breier.

Mark is one of the key people behind, an early .com that won. Why because of their team and there relentlessness. Armin A. Brott was a co-author and former Marine, Commodities Trader and MBA. He is also insane, just like the modern day Internet Person. It appears that is what it takes, these guys are as crazy as the Blitz Marketing Team at The Car Wash Guys in the deployment of their market dominating campaigns.

The book dives into instant information, use of inter-office e-mail, dealing with high-strung individuals all kicking butt. It talks of balance, fun on the team and winning. He sights the venture capital game, investment banker crowd and all the people it takes to please the crowd. They go into an in-depth evaluation of customer feedback and sales in the e-commerce world. If every .COM CEO would have read this book fewer would be gone today. The book is about a five hour read but worth it.

It goes into everything from the tricks of the trade, strategies to beat the competition to tactics that are necessary to move mountains. Some of these strategies have changed but the concept behind them remains the same.

I recommend the book to everyone, but feel that some companies are even more dedicated to winning than they were at I thought that some of the hard work complaints were invalid because that is what it takes and that is life. If you cannot cope get out of the fire, strong survive. I got the feeling that some of these guys at Amazon were yuppy pricks and whimps on the fire line; but their way worked for them, so hats off to their team. We work that hard everyday at my company and you probably do to; they did it using other peoples money, big deal. But no matter what you think they did do it indeed. If it is really that tough on them then do not take the money in the first place. They asked for it and they got it. At least they were willing to pull though on their commitments to the shareholders and drive hard at the market.

All in all this book was good and had some great advice for managing e-mail, electronic communication, when not to have a meeting, when to get a life, when to ask for more, when and how far to push the troops, what to say to the media, investors, VC, and investment bankers. How investment bankers use your information on other projects and why it is important to make deals fast and why loose lips sink ships. I could not agree more with 80% of this book. The other 20% was information only important to a .COM or to Amazon itself. Some of the stories to illustrate points in this book were great and pointed to the real life inside of this fast passed company. Next on the reading list is, the story of the bookseller itself.

I recommend this book to anyone sitting on their butt and wondering what it takes to survive and to win in the age of the Internet. It is fun to win but the stakes are high and only a few can actually do it. So buy it, read it and think on it, thanks, click out to your right on one of the side bar items. SEE YA

eCommerce Software Solutions

All of the long, grueling nights and an unknown number of working weekends spent converting your dream into reality finally paid off-in a big way! Affiliates are signing up every single day and the clicks have really turned into cash. Your success is not limited to a lonely website but several and all of them are helping you move very diverse product lines. The effort has really paid off and you are milking this Internet cash cow for all its worth but there is one little problem, isn't there? You have reached a point where growing your business even more is almost impossible because instead of developing or acquiring new products like you know you should, you are spending all of your time maintaining and servicing the sites you already have. By the time you get finished signing up and communicating with the affiliates, processing the orders and payment information, and handling the logistics of delivery-the day is gone and you are out of time!

Now don't get me wrong, this is a terrific problem to have but the fact remains that if you are not growing your business then that business is dying! Besides, none of us started these websites just to be bogged down in the trenches, did we? It was the creativity and that rush from seeing the business grow from a single seed of an idea into the multi-domain, multi-product beauty it is now, right?

There is a way to free yourself from the day-to-day operations of your e-business-automation! That is absolutely correct because there are programs out there that can automate your multiple domains, divergent product lines, and multiple affiliate programs! What you desperately need is an Autoresponder Management solution that will automatically handle your affiliate sign-up and the terribly time-consuming task of payment processing and delivery! Such a system would allow you to streamline all of your varied websites and help you to generate the detailed reports you need to better analyze your results in a cost-effective and efficient manner!

In fact, virtually all of the tasks that have prevented you from developing new products and acquiring others can in fact be fully automated in such a way as to leave control where it should be-in your hands-while completely freeing you to expand your initial vision even further! If a program can effectively manage all of the routines currently eating so much of your time in a more efficient manner, why even consider continuing to manage all of these tasks yourself? Isn't working smarter and not harder what got you here in the first place?