Emerging Trends in E-Business and Strategies for Business Over Web

INTRODUCTION

Emerging Trends in E-Business

• There has been a tremendous growth in e business over the years.
• Internet has given access to new markets and customers.
• Things have changed and will continue to change.
• Global e business has led to the emergence of new trends in e business
• Micropayment
• Mobile technologies
• Social media
• Fulfillment options
• Multi-channel assistance
• Push tactics

Emerging Trends in E-Business

1. Micropayment
1. A micropayment is an e-commerce transaction involving a very small sum of money in exchange for something made available online and is mainly used in B2C business via internet.
2. Main benefit is speed and ease.
3. Payment systems make it easier to buy online combined with mobile technologies help to accelerate the usage of global e commerce applications

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For example PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques or paper currency. The company operates as a payment processor, for which it charges a fee in exchange for benefits

Emerging Trends in E-Business

2) Mobile Technologies

• Rapid and continuous change in mobile technology has changed the way businesses operate and communicate with customers.
• Smart phones emerged as revolution
• Businesses are dependent on using mobile technology
• Ease in operations
• This has necessitated the demand for enhanced wireless connections that are faster, more reliable and secure
• Designs arecreated for mobile web first and for desktop second.
• Facilitates impulse buying also

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Emerging Trends in E-Business

3)Social Media

• Helping online enterprises to become more focused on their customers.
• Companies can take advantage of social networking by advertising their product and services on social networks such as twitter, facebook, linkedin, myspace etc.
• Allows interaction also
• Helps to deliver goods as per the requirements of customers.

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Emerging Trends in E-Business

4) Fulfillment Options

• It is the process of receiving orders from a webstore and picking, packing and shipping them to customers.
• E-Business fulfillment is the arrangement that is necessary for businesses to sell their products or services on the internet.
• eg. Amazon has fulfillment centres round the world.
• Leads to effective monitoring of business operations

Emerging Trends in E-Business

5) Multi-Channel Assistance

• In the highly competitive online market, building and nurturing long term relationships and exceeding customer expectations are the only ways to emerge as successful e-commerce brands.
• Provides exceptional customer services in a timely manner.
• Helps to build stronger bonds with customers.
• Helps to build customer loyalty

Emerging Trends in E-Business

6) Push Tactics

• Marketers are trying to push their products to the customers.
• eg. Email Marketing.
• Tells the subscribers about product and informs them about noteworthy happenings on the website of company

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Strategies for Business Over Web

Strategies for Business Over Web

• Strategy means defining the goal, plan and policies that are needed to carry out business activities.
• It describes how the ends (goals) will be achieved by means (resources).
• Essential elements of a strategy are forecasting, resource allocation, core competency, environmental analysis etc.
• The ability to sell online has become an integral part of businesses.
• A good business plan for any business over web should cover following

Strategies for Business Over Web

1. Business Planning and Strategy
1. Business concept and objective
2. Business model and business strategy
3. Operational strategy
4. Legal research

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Strategies for Business Over Web

2) Market Research, Planning and Strategy

• Market research
• Design and usability research
• Competitive research
• Brand strategy
• Marketing research and strategy

Strategies for Business Over Web

3) Design, Development, SEO, SEM

• Project managemet
• Technology selection
• SEO, SEM and other marketing strategy implementation
• Wire framing
• Design and development

Strategies for Business Over Web

4) E Business Deployment and Maintenance

• Beta testing, bug fixing and usability testing
• Hosting and security
• Go live
• Maintenance
• Version control and upgrades

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Other strategies

1. Invest in Web Design​​

We don’t often think about web design as a marketing tactic, but it influences the amount of time and attention a user will spend on your page. Your website is the center of all your digital marketing efforts, so if your page is not clean, easy to read, and interesting, it won’t matter how much time you put into strategy development – you’re still going to lose customers. If you don't have the design skills to do it yourself, then it's worth hiring someone to create a website that is modern, attention-grabbing, and mobile friendly.

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Use Search Engine Marketing and Optimization�

• Search engine marketing and optimization are part of what helps make your business appear higher on a list of search engine results. With a strong SEO strategy, your company website will become associated with the keywords used to find your services. This increases your chances of being the company an individual chooses to work with after searching online.

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Affiliate and Associate Programs

• With an affiliate program, people who believe in your company can share your information and grow your market on a commission-based platform. An affiliate or associate program doesn’t make sense for every business. However, if you do use these, you can quickly see your marketing efforts improve without needing to do much yourself.

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Hire a Coach or Consultant �

If a company is not an expert in digital and internet marketing, then it can ask someone who is. There are hundreds of internet marketing coaches and consultants available to you, many of whom can give a consultation about what should change to see success. For small business owners who need to focus on other business systems, a coach or consultant can be extremely helpful.

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Use Email Marketing �

It isn’t enough to just send out emails. You will want to consider various email lists that cater to the specific needs of each individual and can present a personalized approach to your campaigns. Take a hard and clear look at the purchasing habits of your customers and use that information to develop your strategy.

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Build an Opt-In Email List�

An opt-in email list allows customers to come and sign up to receive email correspondence. This allows the company to connect with potential customers and current clients.

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Get Into Articles or News Stories �

• Work with a public relations professional to get your business into articles and news stories on topics related to what you do. It will not only help establish you as a trusted expert, but it will introduce your business to an even broader base of people. You can also sign up for free services that connect you with writers looking for sources, such as Help a Reporter Out.

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Write Online Press Releases �

• When a company uses online press releases, it is getting the information out there in a formal setting. This allows newspapers, blogs, or other media sources to see your information and write posts about your company without you needing to put in the effort to connect and claim a story.

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Hold Contests and Giveaways

• People like contests and giveaways. A company can encourage promotion from customers in exchange for a free product or service, it will usually see a surge in purchases or connections.

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Maintain a Blog �

The blog should be used for a number of reasons, including allowing you to consistently post new keywords and optimize your search engine strategy. More than that, your blog becomes somewhere you can offer advice, share bits of information, and really connect with your customers. A lasting relationship begins with trust, and your blog is a great way to build that.

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