Essay on The Key to A Successful E-commerce Site - 1531 Words

The Key to A Successful E-commerce Site Despite the rapid growth of E-commerce sites, 43 percent of the them fails, and the difference between the success and the failure is consumer experience, according to Ecommercetimes.com. The Dotcom Survival Guide reported there is still one resource left untapped that can save dotcoms from failure. Its the one resource that historically is most ignored in favor of ads, press, and flashy features yet its the one resource that can lead dotcoms to survival. That resource is customers. Customers can provide the revenues needed to attain profitability. Customers can give the word-of-mouth marketing to drive traffic. Customers can give the feedback needed to continually improve the website.†¦show more content†¦Its important to remember that the customer experience is a strategic issue, and not just an accumulation of tactics. In fact, its the most strategic issue an e-business can work on. A dot-coms strategy should be directly based on the customer experience. Improving the customer experience can lead directly to higher revenues. On an e-commerce site, building a great customer experience makes it quicker and easier for customers to buy, raising the conversion rate. On high-volume e-commerce sites, raising the conversion rate by one tenth of 1% can add as much as $10 million in incremental revenues per month. The customer experience is the key to dot-com survival. To survive, dot-coms must improve their customer experience. HOW TO CREATE A GOOD CONSUMER EXPERIENCE? More and more users with minimal technical expertise are getting online, and they are demanding simple, fast, easy-to-use e-commerce sites. The Web makes switching (to a competitor) fast, cheap, and as easy as typing in a new URL. To better understand the value of a good customer experience, creativegood.com has provide the 3-Ms framework.  · Medium. The Web is a constrained medium: screens are small, modems are slow, and users are technically inexperienced. Despite all the hype about futuristic potential online, the true way to succeeding online is to create good customer experiences that work within the constraints of the Web.  · Marketing. The WebShow MoreRelatedE-marketplace, E-mall, E-tailing Essay1125 Words   |  5 PagesIntroduction: There are various electronic commerce activities and mechanisms. E-Commerce Activities and Mechanisms include the following but not limited to: E-Market Place: It is an online market usually B2B where buyers and sellers exchange goods or services. EC transactions take place in the electronic equivalent of a mall called the electronic marketplace (e-marketplace). 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