Today let’s look at the Pros and Cons of E-commerce…
We already know this insane Statistic.
Sad but true… 97% of e-commerce websites make $0 profits in their first 3 years online. Such is the steep learning curve and skill set required to build an e-commerce website that can ultimately dominate your product category, market or niche.
Have you heard the phrase ‘work on your business and not in your business’? Well, the 97% referred to above are doing the latter. Spending time with customers, suppliers and handling the daily tasks, essentially fighting fires all day. They are stuck running the business.
How about implementing this philosophy instead?
‘Spend 20% of Your Time On Operations and 80% On Marketing’
Here’s why… Once trapped running your e-commerce website, it’s very hard to escape and spend time where you should be, marketing your business to greater profits. So aim to be part of the profitable 3% as quickly as possible, and your e-commerce sales and profits will skyrocket…
Having been part of the 97% from 2000-03 and subsequently part of the elite 3% from 2004 on doing sales in the multi-millions and growing in very competitive markets, I can give you the benefit of impartial views and experiences, and I have the ‘e-commerce stripes’ to help you.
So it’s not all doom and gloom. E-commerce can be exciting, fulfilling and very profitable if you plan from the ground up, grow consistently and get it right from now.
E-commerce Success Story.
Amazon.com is the most successful e-commerce website online. It’s also my all-time favorite e-commerce website! In 1995 Amazon exploded onto the e-commerce scene pioneering the way
in online retailing to date. By February 2010 Amazon had 124 million customers worldwide.
Many companies have tried to imitate but very few can replicate such massive success. Amazon’s web team fully understands its web customers, and why they buy from its website.
Using Personalization to maximize sales.
Amazon takes marketing to the next level where most websites simply do not. The people at Amazon analyze user data and utilize this to build, design, personalize and structure their website accordingly, to answer their customers’ questions, fears and frustrations and match the wants and desires of their customers exactly. They introduced and pioneered product ‘Recommendation Engines and Systems’.
This essentially means once you have user data you can target and match your products to your ideal and typical customers’ buying interests, behaviors and personality. This results in them SPENDing like crazy with you.
With E-commerce Get It Right! you’ll get an inside look at personalization and how you can target your products, website and emails to your ideal customers’ specific wants and needs.
You’ll get the ammunition to get your website live, learn as you grow, market aggressively, keep testing and refining conversions using actual user data and sell on the back-end!