E-commerce strategies for Company Success
|✅ Paper Type: Free Essay||✅ Subject: Ecommerce|
|✅ Wordcount: 1129 words||✅ Published: 4th Aug 2021|
E-commerce had brought much change in way business. It is enabled businesses to connect with each other in new way of thinking in every area on commerce. The turnover from usual business to e-commerce has anticipated exceeding far then expected by spectator. Many companies nowadays using e-commerce had been successfully gained more profit in their business such as amazon.com, e-Bay and mudah.com. These companies have their own features that show them as the highly rated successful companies. Most of these companies also have good strategies in planning their business that enables them to success.
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The Successful Companies through E-Commerce
Amazon and E-bay is among company which allowed transaction electronically. There are the precursor in e-commerce that successfully success until today. Nowadays there are 5 most successful company using e-commerce, Amazon, Dell, Staples, Office Depot and Hewlett Packard. Amazon.com (1994) is one of the most famous e-commerce companies and founded by Jeff Bezos. Today, Amazon offers everything from books and electronics to tennis rackets and diamond jewelry. According to the research conducted, Amazon.com attracted about over 615 million customers every year. The ability of online friendly website by Amazon is one of the key of success for this company. Another company that been successfully in e-commerce is Dell Inc. Dell.com has made rapid strides, the company has achieved big profit in online sales. The company’s effective strategy of selling products without retail has been admired by customers and many e-commerce dealers imitate their strategy. As same as Amazon, Dell success key factor is online friendly website.
Most of successful companies achieve success by having their own characteristics and features that led them. Effective strategies also the key factor the company’s success achievement.
Features of Successful E-Commerce Company
Many companies use e-commerce as one of the ways to gain profit. For each successful company, they have various features that help them in e-commerce business.
The first feature is a clear vision and goal. The company must know exactly what they want to achieve in this business. Second feature is dare taking calculated risk. The key to success is daring to take necessary risk and considered investment as fuel of business in e-commerce.
Next is, successful sites employ good advisors. By having advisor that can be trusted is essential. It is because company only can gain if having panels of experts that can advise in regulating strategy, tactic and expand the business. Another feature is successful sites can embrace technology and change. Keeping abreast of developments online is the key in online marketing, change in online way and understand way to read web analysis.
The fifth feature is patience and a long-term view. The company constantly measure if they are gradually getting to their goal. More features are a commitment to and continuous improvement. The success company knew what they should do and always make improvement.
Lastly is, success company must believe that there is no short cuts to make profit. There is some e-business people want to gain million of profit but hoping it come by doing nothing. Success company knew that is wrong. By keep focusing, hard work, constant improvement and commitment there are the real way to success in e-commerce business.
Strategic Moves That Led Companies to Success?
Fine method and strategy can lead companies to success. They are several ways that has been listed as strategic moves to led companies to success.
First is Well-Positioned Online Brand. The companies must choose the market able brand name for their website. A brand name will draw customers to the company’s website and can help assure customers about the quality of the offering, the accuracy of the information, can promote customer loyalty and the security of the web transactions.
Second, Online-Friendly Offerings. It is about the selection and diversity of the company product. The companies must decide what products to offer on the website. Another diversity is offering customers the ability to obtain unique product or information. The diversity are important because it allows customers to control the product choices and at the same time it can built customers loyalty.
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The third move is Reliable Customers Service. It is to inspiring loyalty among customers. For the company to success the customer must trust the company and its website. Trust can be built through assurance of privacy and transaction security and by providing accurate information. As examples, many people purchase at Amazon.com rather than other website because it can be trusted by customers.
Lastly, Right Business Planning.It is to acquire funding, nonfinancial resources and to obtain a realistic approach to the business.
Important Elements in Implementing the Strategy
There are many elements that guide E-Commerce strategies to success. It is such as is to consider full integration, partial corporate integration, and business unit integration all has positive aspects as strategies for e-commerce and are viable choices.
Another element is companies must carefully coordinate new online services to enhance and protect their brand.
Next is, in implementing and formulating e-commerce strategy throughout company operations, it must include Multi-channel coordination as the key success factor.
More elements are successful e-commerce strategy must include special attention to customer service as it is core component of company strategy.
A proper balance the use of commoditized solutions and unique uses of e-commerce can help company utilize effectiveness. It is to gain competitive advantage in strategy.
As conclusion, e-commerce business helps a lot dealer to expand their business. Profit achieved continuing growing for companies those involve in this electronic transaction business. It as we can see in achievement Amazon.com, E-bay and Mudah.com. More proud, now found many traders begin using e-commerce as one of the ways promotes their goods. Most successful companies in e-commerce have steady features that been a key to their success. This including the strategy that been used such as good business plan, online friendly website, reliable customers services, commitment in managing business, make improvement in services. With the right strategies, many dealers can easily gain more profit and expand their business around the world.
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