E Commerce and The Entrepreneur 9 PDF

Prof.
Kong Skaishann
Mss. Ouch Theary 65328

Mss. Sam Bosba 49728
Ven. Yong Kemhong 71356
Mr. Mao Rotha 78700
Mr. Kol Borath 66812
Learning Objectives
L01. Understand the factors an entrepreneur should consider before
launching into e-commerce.
L02. Explain the 10 myths of e-commerce and how to avoid falling
victim to them.
L03. Explain the basic strategies entrepreneurs should follow to
achieve success in their e-commerce efforts.
L04. Learn the techniques of designing a killer Web site.
L05. Explain how companies track the results from their Web sites.
L06. Describe how e-businesses ensure the privacy and security of
the information they collect and store from the Web.
2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document
may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Introduction
Benefits of Selling on the Web
The opportunity to increase revenues and profits.

The ability to expand their reach into global
markets.
The ability to remain open 24 hours a day, seven
days a week.
The capacity to use the webs interactive nature to
enhance customer service.
Introduction
Benefits of Selling on the Web
The power to educate and to inform.

The ability to lower the cost of doing business.
The ability to spot new business opportunities
and to capitalize on them.
The ability to grow faster.
The power to track sales results.
E-Market
9-5
Internet Penetration Rate
may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 6
9-6
Factors Consider before Launching into
E-Commerce
How a company exploits the webs interconnectivity and the
opportunities it creates to transform relationships all sectors.
Web success requires a company to develop a plan for
integrating the web into its overall strategy.
Developing deep, lasting relationships with customers takes on
even greater importance on the internet.
Creating a meaningful presence on the web requires an ongoing
investment of resources-time, money, energy, and talent.
Measuring the success of its web-based sales effort is essential if
a company is to remain relevant to customers whose tastes,
needs, and preferences are always changing.
9-7
Factors Consider before Launching
into E-Commerce
Doing business on the Internet takes more time and energy than
many entrepreneurs expect. The following six factors are
essential to achieving e-commerce success:
Acquiring customers. The first e-commerce skill that
entrepreneurs must master is acquiring customers, which
requires them to drive traffic to their Web sites.
Optimizing conversions. Every online entrepreneurs goal

is to convert Web site visitors into paying customers.
Maximizing Web site performance. Once shoppers find

a companys Web site, they should encounter a site that
downloads quickly, is easy to navigate.
9-8
Factors Consider before Launching
into E-Commerce
Ensuring a positive user experience. Achieving customer

satisfaction online is just as important as it is offline.
Retaining customers. Just as in offline stores, customer

retention is essential to the success of online businesses.
Use Web analytics as part of a cycle of continuous

improvement. Entrepreneurs have a multitude of Web analytics
tools (many of them free) that they can use to analyze the
performance and effectiveness of their Web sites.
9-9
Ten Myths of E-Commerce
Entrepreneurs have made their fortunes through e-commerce,

setting up shop on the Internet is no guarantee of success, so
avoiding to fall victim to them.
1. If I launch a site, customers will flock to it.
2. Online customers are easy to please.
3. Making money on the web is easy.
4. Privacy is not an important issue on the web.
5. Strategy? I dont need a strategy to sell on the web!
Just give me a web site, and the rest will take care of
itself.
9-10
Ten Myths of E-Commerce
6. The most important part of any E-Commerce

effort is technology.
7. Customer service is not as important online as it
is in a traditional retail store.
8. Flashy web sites are better than simple ones.
9. Its whats up front that counts
10. My business doesnt need a web site.
9-11
Strategies for E-Success
Following are some guidelines for building a successful

Web strategy for a small e-company:
Focus on a Niche in the Market
Develop a Community
Listen to your customers and act on what you hear
Attract Visitors by Giving Away Freebies
Sell the Experience
Make Creative Use of E-mail, but Avoid Becoming a

Spammer
Strategies for E-Success
Make Sure Your Web Site Says Credibility
Make the Most of the Webs Global Reach
Go mobile
Promote your web site online and offline
Use social media tools to attract and retain customers
Develop an effective search engine optimization

strategy
GO MOBILE
Twelve Guidelines for Building the Credibility of a Web

Site
1. Allow visitors to verify easily the accuracy of the

information on your site.
2. Show that there are real people behind your site.
3. Emphasize the skills, experience, and knowledge of
the people in your company.
4. Show that honest, trustworthy people stand behind
your site.
5. Make it easy for customers to contact you.
9-14
GO MOBILE
Twelve Guidelines for Building the Credibility of a

Web Site(Cont.)
6. Make sure your site has a professional look.

7. Make your site easy to useand useful.
8. Update your site regularly.
9. Prominently display your companys privacy
policy.
10. Be vigilant for errors of all types, no matter how
insignificant they may seem.
11. Post the seals of approval your company has won.
12. Make sure customers know their online
transactions are secure.
9-15
Designing a Killer Web Site
Setting up a shop online has never been easier, so

starting learn how to design potential Web sites.
Start with your target customer.
Give customers what they want.
Select an intuitive domain name.
Make your web site easy to navigate.
Offer suggestions for related products.
Add wish list capability.
9-16
Create a gift idea center.

Provide customer ratings and reviews.
Use online videos.
Establish the appropriate call to action on each page.
Build loyalty by giving online customers a reason to
return.
Establish hyperlinks with other businesses, preferably
those selling products or services that complement
yours.
9-17
Include an E-mail Option, physical address, and a

Telephone Number.
Give shoppers the ability to track their orders online.
Offer web shoppers a special all their own.
Use the power of social media.
Follow a Simple Design
Create fast, simple checkout process
9-18
Provide customers multiple payment options

Assure customers that their online transactions are
secure
Establish reasonable shipping and handing charges
and post them up front
Confirm transactions
Keep your site updated
Test your site often
Rely on analytics to improve your site
Consider hiring a professional to design your site
9-19
9-20
Tracking Web Results
Software solutions
Commerce metrics.
Visitor segmentation
measurements.
Content reports.
Process measurements.
Other common web site performance include the following:
The cost per acquisition (CPA)
CPA = total cost of acquiring a new customer / number of
new customers
The bounce rate (BR)
BR = number of single page viewers / Total number of
visitor
The conversion (or browse-to-buy) ratio
Conversion rate = number of customers who made a
purchase / number of visitors to the site
The cart abandonment rate (CAR)
CAR = 1- (number of customer who complete a transaction
/ number of shoppers who place at least one item in a
shopping cart
9-22
Two more of performance

indicators
The average number of page
views per visit is a measure of
how much time visitors spend
on a site (visit duration).
The search engine ranking
shows where a companys Web
site ranks in search engines
results pages.
Ensuring Web Privacy and Security
Privacy
Take the inventory of the
customer data collected
Develop a company privacy
policy for the information you
collect
Post your companys privacy
policy prominently on your
web site and follow it
Security
Conclusion
E-commerce is creating a new economy, one that

is connecting producers, sellers, and customers
via technology in ways that have never been
possible before. In this fast-paced world of e-
commerce, size no longer matters as much as
speed and flexibility do. The Internet is creating a
new industrial order, and companies that fail to
adapt to it will soon become extinct.
Q&A

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Prof.

Mss. Ouch Theary 65328

Benefits of Selling on the Web

The opportunity to increase revenues and profits.

Benefits of Selling on the Web

The power to educate and to inform.

Optimizing conversions. Every online entrepreneurs goal

Maximizing Web site performance. Once shoppers find

Ensuring a positive user experience. Achieving customer

Retaining customers. Just as in offline stores, customer

Use Web analytics as part of a cycle of continuous

Entrepreneurs have made their fortunes through e-commerce,

6. The most important part of any E-Commerce

Following are some guidelines for building a successful

Listen to your customers and act on what you hear

Attract Visitors by Giving Away Freebies

Sell the Experience

Make Creative Use of E-mail, but Avoid Becoming a

Make Sure Your Web Site Says Credibility

Make the Most of the Webs Global Reach

Promote your web site online and offline

Use social media tools to attract and retain customers

Develop an effective search engine optimization

Twelve Guidelines for Building the Credibility of a Web

1. Allow visitors to verify easily the accuracy of the

Twelve Guidelines for Building the Credibility of a

6. Make sure your site has a professional look.

Setting up a shop online has never been easier, so

Create a gift idea center.

Include an E-mail Option, physical address, and a

Provide customers multiple payment options

Two more of performance

E-commerce is creating a new economy, one that

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