15
Reasons to Put Your Business On-line
1. It is Inexpensive.
Setting up and maintaining a web
site can be a very inexpensive proposition - particularly
when compared to a traditional "brick and mortar"
shop. Furthermore, the cost of processing an electronic transaction
is a generally a small fraction of the cost of processing
an order by phone or in person. Once put into service, a web
site will pay dividends for many years into the future with
a minimum of fuss and overhead.
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2. Improved Supply Chain Management.
Many companies are turning to the
Internet to purchase the supplies and services that they rely
on to operate their businesses. The Web is seen as a simpler,
faster and less expensive alternative to traditional paper-based
supply management processes. Even electronic data interchange
(EDI), regarded just a few short years ago as cutting edge
supply chain technology is on the verge of becoming obsolete
as companies shift to a web-based architecture.
The Internet promises seamless connectivity,
expedited shipments and streamlined tracking and monitoring
capabilities. The paperwork and compatibility problems that
have plagued supply departments for decades are giving way
to real-time electronic order processing. With round-the-clock
availability, "just-in-time" inventory management
will begin to become a reality for millions of small businesses,
allowing them to compete more effectively with their larger
competitors.
3. Unlimited Inventory Capability.
The most successful on-line book,
music and video retailers have shown that by having a "virtual
inventory" of millions of titles, they can satisfy the
demands of a vast and diverse audience. This capability has
allowed aggressive "cyber-retailers" to quickly
build market share.
Traditional retail establishments
have obvious limitations on what they can reasonably offer
in a store or catalogue. No store, for example, could reasonably
house every known title. On-line storage, searching and retrieval
capacity, on the other hand, is virtually unlimited. Companies
like Amazon.com have exploited this fact to considerable advantage.
Retail boundaries will continue to be redrawn over the next
decade as the Internet redefines the industry.
4. Access to Millions of Potential Customers.
The World-Wide-Web opens your business
up to literally millions of potential customers. Some estimates
indicate that within the next decade, close to a billion people
worldwide will have access to the Web. The implications of
this are profound. Established and start-up companies alike
are taking advantage of this incredible new marketing medium.
According to the Wall Street Journal, Dell Computer, one of
the early pioneers in Internet commerce now garners about
$2.2 billion per year in annual sales from the Internet (see
WSJ, December 7, 1998, Internet Supplement, "Click and
Buy", George Anders, page R4).
5. Customers Expect It.
You rarely see a company advertisement
anymore that is not accompanied by the familiar Internet address
caption www.company.com. The momentum of the Internet is so
extraordinarily powerful that it would be a grave mistake
to underestimate its potential importance - regardless of
the type of business you are in.
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6. Gateway to the World.
The Internet is by no means a U.S.
phenomenon. The immediate electronic dispersal of breaking
global news to remote destinations is a testimony to the far-reaching
impact of the Internet. Businesses are quickly coming to realize
that the Internet is becoming the portal to the world - breaking
down marketing and communications barriers and opening up
vast new global markets.
7. Open for Business 24 hours per day.
A good Internet site keeps on working
24 hours per day, 7 days per week. Orders can be processed,
information provided and marketing information gathered around
the clock.
8. No Geographic Restrictions, Barriers
or Boundaries.
Your company's web site will be
as accessible to someone on the West Coast as it will be to
someone in Middle America. A good Internet-based marketing
program is an excellent way to expand the geographic scope
of your business without the expense and complication of opening
up and managing additional stores or offices.
9. Automatic Site Monitoring.
Recent Internet software developments
include sophisticated site-monitoring features that allow
users to evaluate the effectiveness of their sites on a daily
basis. The Internet's electronic format enables business owners
to gather and sort large quantities of raw information relating
to the use of their Web site by prospective customers. With
the proper tools, this information can be aggregated and used
to develop valuable marketing statistics. In this way, Web
sites can be continuously fine-tuned to reflect consumer reactions
to specific promotions and offerings.
10. Electronic Payment and Order Processing.
On-line payment and order processing
creates simple and rapid transactions. Electronic (debit and
credit card) payments are immediate and becoming more secure
by the day. From a small business perspective, electronic
payments are favorable because of their positive impact on
cash flow. Cash flow is enhanced as electronic payments are
received at the point of sale. Of course other forms of non-electronic
payment such as personal checks and cashier's checks are still
common forms of payment - even in electronic commerce. As
the Internet becomes more secure however, expect to see a
much higher proportion of payments occurring electronically
for Internet-based transactions.
11. Eliminate the Middleman.
The Internet can potentially reduce
a company's reliance on middlemen. In the world of cyberspace,
marketing agents, distributors and wholesalers can all be
bypassed as businesses deal directly with global suppliers
and customers.
12. The Internet is Interactive.
If your site is properly designed,
customers will be able to conduct personalized product searches,
communicate requests, desires and concerns, and receive post-sale
support - all from the comfort of their home or office.
13. Maximum Impulse Potential.
Because shoppers can purchase your
products on-line with a few clicks of a mouse, the step from
window shopper to product owner is a small one. A well-scripted
ad line can quickly convert browsers to paying customers.
14. No Shoplifting Potential.
You can leave your site unattended
for hours or days with no fear of product shrinkage due to
shoplifting or employee theft. Unfortunately, the same cannot
be said for most retail establishments - many of which spend
a considerable sum of money on security.
15. Ability to Customize Electronic Advertising.
The Internet allows astute companies
to capture a substantial amount of detailed marketing information
on customers and prospective customers. As business owners
become more aware of the characteristics and preferences of
their customer base, they will be in a position to tailor
their advertisements to specific groups or individuals. These
targeted advertisements can be sent instantaneously and virtually
without cost to multiple customers.
Many companies set up electronic
"guest lists", allowing visitors to "sign in"
and receive product updates, electronic catalogues and other
company information. Other companies take this a step further,
providing prospective customers with special passwords that
confer access to "exclusive" products and information
(in exchange for a certain amount of detailed customer information).
How
to Establish an On-line Presence
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