10 Key factors why some E-Commerce succeeded
1. Provide better customer support, resulting in customer satisfaction
2. Provide constant updates of information for the customers i.e. useful for their needs
- Encourage online customers to return to the site for more information
- For example constant updates on promotions. Refer to
http://coldstorage.com.sg3. Navigation of the site is easy and simple
- Allow fast search of products and services
- Allow fast and simple transaction
4. Introduce new products and services that meet the growing demand of customers
- Products fit is crucial
5. Ensure utmost security and privacy of consumers' datas
6. Good site design
- Allow consumers to judge the company and form liking based on first impression
7. Ensure consumers' expectations are met
- For example, delivery on time
8. Good marketing strategies
- Knowing exactly who are the target groups
- Knowing how to attract more people to the site
- Knowing the future plans etc
9. Specialization in E-commerce
- For example, successful online retailers like
www.walmart.com,
www.amazon.com,
and
http://www.dell.com10. Competency in managing the company
- Trained employees
- Skillful technicians etc
1.
Google (launched September 1998): "Google did more to fundamentally change the way we use the Internet than any other event in the last 10 years," the SIIA said. Thirty percent of users turn to Google to help them find information on the Internet, and nearly one-half of 6.9 billion online searches conducted by Americans in February were on Google.
2.
Broadband (June 2004): Available and affordable broadband penetration reached 50% among U.S. users in 2004. Although it took nearly four years for broadband to reach this milestone, the SIIA said estimates indicate that by the end of this year, broadband penetration among U.S. users will reach 90%.
3.
eBay auctions (launched September 1997): "EBay showed us that the Internet could be used to reach massive national -- and even global -- markets better and faster than ever before," the SIIA said.
4.
Amazon.com (initial public offering May 1997): The SIIA said Amazon popularized online shopping because it's Web site was easy to use and offered customers a wide variety of products from which to choose. "It signaled the increasingly important role that e-commerce would play in the American economy," the SIIA said.
5.
Google Ad Words (2000): Keyword advertising represents 40% of the online advertising market, bringing in $6.8 billion in revenue annually, the SIIA said. "Keyword ads are the simplest and most cost-effective mechanism to reach targeted audiences, affordable to even the smallest business," the group said.
6.
Open standards (HTML 4.0 released in 1997): Overseen by the World Wide Web Consortium, the HTML open standards are the "most influential and important data standard in the history of publishing," according to the SIIA.
7.
Wi-Fi (802.11 launched in 1997): The development of this form of wireless networking allowed business users to be connected to their clients and their companies no matter where they were and paved the way for more mobile technologies.
8.
User-generated content (
YouTube in 2005): "Right now it is impossible to say what the full ramifications of the 'citizen journalist' era will be -- but the dramatic impact of YouTube tells us more than any other recent development," the SIIA said. YouTube is what Web 2.0 should be, the trade group said: Anyone, anywhere can use You Tube to deliver a message that will be heard and seen around the globe.
9.
iTunes (2001): "ITunes legitimized the digital music industry, revolutionizing the music industry," the SIIA said. In 2006, more than $2 billion worth of music was sold online or through mobile phones, almost double what was sold in 2005, the group said.
10.
BlackBerry (1999): "The BlackBerry makes communication instantaneous, and mobile," the SIIA said. The Internet-connected device has allowed users to engage in e-commerce anywhere and launched a whole mobile culture, the group said.
->More to come
