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Business

10 myths of e-commerce

Myth 1:   If I launch a site, customers will flock to it.

  • Include your URL on everything related to your business
  • Use social media such as Facebook and You-Tube to drive traffic to your site
  • Network – build relationships with other companies, customers, trade associations, online directories, and other Web sites to interact with customers
  • Make your site compatible with mobile devices
  • Use QR codes

Myth 2:   Online customers are easy to please.

Experienced online shoppers tend to be unforgiving and quick click to another site if their shopping experience is subpar or they cannot find the products and information they want.

Myth 3:   Making money on the web is easy.

Myth 4:   Privacy is not an important issue.

Pew Internet Report: If online companies were able to alleviate customers’ online privacy and security issues, the percentage of online buyers would increase from 66% to 73%.

Myth 5:   I don’t need a strategy to sell online.

  • An online strategy is critical to success
  • Define the target audience
  • Understand customers’ needs and wants
  • Create a strategy to set your site apart from others

Myth 6:   The most important part of an e-commerce effort is Technology.

  • Understand the underlying business…
  • Then use technology to develop an online business model that provides customer value in a profitable way.
  • Otherwise, if the technology comes first before business idea, “you are likely to going to buy a solution in search of a problem”

Myth 7:  Customer service is not important.

  • Study: 22% of online shoppers expect higher levels of customer service than they do offline
  • Concern: The average conversion rate for e-commerce sites is just 3.2% and 75% of Web shoppers abandon their shopping carts without checking out.

Myth 8:   Flashy websites are better than simple ones.

Fast download times increase sales potential

Myth 9:   It’s what’s up front that counts.

Order systems and support are critical

Myth 10:  Its too late to get on the web.

Web opportunities still exist

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