Get a Dot Com Business

Internet businesses are exciting and rewarding. What are their benefits over a street based business and how do you start one?

Benefits

The costs and therefore the risks are so much lower. There is no investment in buying or leasing a high street shop. The equivalent in an online business can be around only two dollars a week for a domain name and web hosting. Startup costs are low. You can create a website free using WordPress and its ecommerce plugins. Or you can pay someone to create one. It's still cheaper than opening a shop on the street. The whole world is the market for a dot com business. For a shop on the street the market is only within the travel distance from the shop.

So how do you start?

Products

Find products or services that you could be passionate about marketing. Choose consumable products that produce frequent repeat orders. Become an expert in your products. Learn everything there is to know about them, or ensure access to support from suppliers. Is there a ready market for that product? Do some research. Is there a ready supply at a price that you can resell at a reasonable profit? If the big chains are already selling it, can you deliver it cheaper?

Business name

Register a domain name to include a key word relating to that product. Don't let ego trap you into a domain name like billsmithenterprises.com. A domain name that relates to the products that you market will help your position in a search of Google for such products by prospective customers. If your domain name is easy to remember it will be easy for customers to refer other customers to it. Register a business name relating to your domain name. Get a PO Box number and a bank account for that business name.

Website

Arrange hosting of your domain name to include installation of WordPress with an ecommerce plugin. You can do this yourself or get help from a web designer. There are some 1600 free WordPress themes available and thousands of plugins. Learn about search engine optimization. Make a website that is easy to navigate and is Google friendly. After launching it get some other websites to link to yours. Start a home page with a lot of text including key search words. Enter your products, using as much description and information as you can. In Google the websites with more information get ranked higher than those with less. Pictures are worth a thousand words to the prospective customer, but Google ignores pictures and indexes your words. Decide on delivery charges and payment options. Publish guidance on the use of your products. Publish a returns policy, a privacy policy and any other information to assure customers they can safely order from you. Publish the name of your business along with the PO Box number, town and state address plus a telephone contact. Prospective customers like an assurance that you are in the same country and that they can phone for more information and support. We have seen online businesses fail when they tried to be anonymous.

Operating your business

Be prepared to work very hard to get started. The first two years are critical as in that period most business failures occur. We worked hard for two years to gain customers. Now a few years later we work hard to keep up with the orders and with servicing hundreds of customers in every state. In your contact with prospective and existing customers make them feel that they are experiencing personal attention rather than automation. Be on first name terms. They will want to continue dealing with your business. Be systematic on processing orders and shipping them promptly. Be systematic in recording your accounts. Your bank statement and your PayPal history can be downloaded and used for preparing your annual tax accounts. Your ecommerce website should provide sales history.

Summary

A dot com business has no limits to the size of its market. Choose the products carefully and become an expert in them. Enjoy the freedom of running your own business.

Setting Up an Ecommerce Store: The Basics   The Benefits of an Online Store   Got $20? Why Not Start Your Own Business?   Online Shopping Carts That Are Safe and Reliable   Where Does E-Commerce Go?   

Opening Up The Market - The Advantages Of Ecommerce

The invention of the internet has opened up access to information. In the past, consumers and businesses were required to use offline channels and communication to learn more about a subject or topic. Now, anyone with internet access can type in a subject topic and be presented with a range of options to pursue for further information. Consumers now have greater choice and businesses have the ability to reach a larger audience base. The primary advantage of e-commerce is that it acts as a centralized information and market exchange for businesses and consumers alike.

Greater geographical reach is an advantage of e-commerce. Consumers can now search for products that are offered by companies on the 'other side of the world'.

Companies that want to expand geographical reach can now showcase their products to all corners of the globe. Language translation software, online payment gateways, chat programs and email allow buyers and sellers to converse and transact with each other. Irrespective of currency differences, the built in exchange rate adjustments used by payment processors allow both parties to do business in a common format.

Instant access to products and service is one of the benefits of e-commerce.

Busy professionals can now make purchasers online and pay bills from the convenience of a computer terminal. This is a great time saver. Greater search access allows consumers to compare product offerings and make informed purchase decisions without ever having to leave the comfort of their own home. Online mediums save time for consumers and costs for businesses who can reduce physical personnel and replace it with online infrastructure.

An advantage of e-commerce is that it has created a new industry. With the growth of internet access and the demands of business and consumers, new services and jobs are created to meet the demand. This creates jobs for web developers, designers, online engineers, sales personnel and the need for companies that provide specialized infrastructure such as payment gateways, processing and hosting. New educational programs are developed to provide the necessary expertise for support services. This facilitates economic growth, raises educational standards and improves overall quality of life.

Another advantage of e-business is the reduction in startup cost, operating cost, and the reduced barriers of entry for entrepreneurs. Inventory management, marketing expenses, and automation through software now bring the ability to run an online business 24x7 for a fraction of the cost of a comparative offline counterpart. This levels the playing field for individuals and business that were conventionally 'locked out' of a market due to cost barriers. This is independent of technical 'know how'. The right business startup structure and access to online educational support material now provides an opportunity for willing participants to take advantage of the internet.

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US-China Legal Exchange Provides Valuable Perspective on State of E-Commerce in Both Countries

The 17th U.S.-China Legal Exchange, a joint US Department of Commerce ("DOC") and PRC Ministry of Commerce ("MofCom") program, was held August 27-31 with workshops held in Harbin, Beijing and Guiyang focusing on recent developments in intellectual property rights enforcement and e-commerce issues. I had the privilege of being part of the governmental and private U.S. delegation head up by Department of Commerce General Counsel Cameron Kerry.

The exchange offered some important insights into the state of e-commerce in both countries. In my presentations, I spoke of the evolution of U.S. regulation of the internet as moving from a frontier society approach, where regulation was adopted by consensus and initially focuses on measures designed to ensure e-commerce's viability so that consumers felt safe to shop online, to the current state where the number of actors and the complexity of issues involved has increased substantially and consensus is elusive. During this tour of China, Chinese media was abuzz with a price war between leading online players that left some consumers concerned whether the prices would be honored, This demonstrated that China, who soon will overtake the United States as the largest e-commerce market, was still in the "frontier phase" of internet regulation as internet penetration and trust in e-commerce takes root in China.

The process of explaining the history of U.S. regulation of e-commerce on foreign soil, was a reminder of the success of the "light touch" approach to regulation that has been applied to the internet to date. In addition, where regulators have acted they have been wise to focus on the conduct of the parties and not the technological platforms used since the internet makes both good and evil more efficient, a point I emphasized to the Chinese audience.

My presentation also touched on emerging legal issues such as crowdfunding, consumer privacy and cyber smearing. In concluding, I stated that it had been an honor to discuss this exciting new age where the vast ocean that has separated us for centuries can be navigated in seconds with the click of a mouse.

I believe that the internet is and will continue to transform China. For example, while there is much discussion about the Great Firewall used by the Chinese government, that merely captures the tip of the iceberg thus leaving untouched a great mass of discussion and debate occurring in social media and elsewhere on the internet at levels unprecedented in Chinese history.

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How to Start Your Internet Business - Focus On Your End Goal

What if you discovered how to get started with your online business on the right track and move towards your end goal easily?

Do you want to know the benefits that you will receive if you focus on your end goal starting today?

The purpose of this article is to get you started on the right track and show you how to focus to reach your dream goal.

Here are 4 simple steps to get you started.

Step 1 - Be clear.

Step 2 - It motivates you to go till the end.

Step 3 - It helps you to formulate a better plan to move towards your end goal.

Step 4 - It gives you a feeling that you are on track.

The purpose of this article is to inform you that you can achieve massive success on the internet only if you discover and experience the ultimate power of focus.

Here are step by step details to get you started right now.

Step 1 - Be clear.

When you focus on your goal you should be clear as to what you exactly want out of your online business.

When you are clear you start looking for a plan to help you reach there.

This is how you get started and when you move slowly step by step you reach your end goal.

Step 2 - It motivates you to go till the end.

When you are focused you automatically get motivated to move towards your end goal.

Your subconscious mind will support you and give you all the necessary drive that will help you reach there.

Step 3 - It helps you to formulate a better plan to move towards your final goal.

Setting up a step by step plan is important to move yourself towards your final goal.

When you are highly focused you will automatically get the required ideas and inspiration and your primary plan will be right in front of you.

Step 4 - It gives you a feeling that you are on track.

You will feel good and successful. The reason is that your subconscious mind knows that you are on the right track.

It is highly important that you focus on your goal starting today. You should have a definite purpose in life and have a burning desire to achieve it and then nothing can stop you to move towards your end goal.

Make sure that you use the above steps starting today.

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Stay Hungry Stay Foolish!

In the current recession more millionaires have been made in the internet marketing industry than in any other! An online entrepreneur does not require a physical workplace or even a factory to manufacture physical goods. Its essentially a one man show who can go to work anywhere at anytime just by simply switching his online device on and linking up to the world wide web!

Furthermore an online entrepreneur does not need to physically chase after customers and there is also no limit or boundary set on the targeted clientele! The world wide web services all and sundry and is not subject to border controls or customs or any other such obstacles put up by the 256 countries in our world!

What is then this online money making concept? First and foremost despite the typical knee jerk reaction this is not a fraud and there is now a most impressive list of online millionaires who lend credence to the fact that this stuff works!

The world wide web is like the ocean which is still to be fully explored. There are many intriguing sites to visit, facts to study, people to socialize with and the like. In fact in this online world you are able to do what you want! You have the double option of not only accessing various ways to make money but you also can avail of various ways to spend it too!

Just like with everything else there are many scams out there in the online industry and the job of distilling through to the genuine deal can be quite arduous and difficult. This however should not shift focus from the fact that there are some very real and lucrative opportunities for you on the internet to make money. It might be hard but is not impossible. The only thing you need to do is to work smart and follow the game-plan.

The art of making money online is all about making full use of your skill-set and accordingly you need to first of all identify your key expertise which will then lead you towards the optimal channel to utilize the same and generate revenue therewith.

To establish a profitable cash generating online business is not an easy feat and you will need to do a lot of routine monotonous tasks every day especially in the beginning start-up stage.

Some of the top things that you absolutely must keep in mind in context of your online enterprise are as follows:

First and foremost you must understand the necessity of being persevering and not give up whatever may be the situation. This enterprise requires you to devote a lot of time and effort to establish the momentum towards earning money online. Be consistent and make your level best efforts to making your online business succeed.

It is vital to first set your goals and then the strategy to achieving them.

It is but inevitable that in the future there will be situations that would require you to alter your game plan and strategies but you should go on undeterred and not lose sight of the big picture to earn money from your online enterprise.

All road blocks, obstacles are in fact challenges that you need to accept as such and keep going forward towards your goals.

Furthermore you should realize that it is of paramount importance that more work is accomplished in lesser amounts of time. You are free to outsource your work; however do ensure that it makes economic sense to do so or or it will be worthless to you.

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How to Apply for a Successful High Risk Merchant Account

If you are applying for a high risk merchant account, merchants are hanging by the thread due to the fact that there is no concise information to why high volume merchant account providers reject most of the applications. Merchants need a way in accepting credit cards online and there is no other way to do it than signing up for such accounts. It is either they are too lazy, or they do not provide a standard customer service for these kinds of services. When a merchant has submitted an application, the merchant account provider will discuss the terms and conditions like the merchant cannot receive payment for almost several months or the merchant is not approved due to their marketing plan. The worst case is the merchant is never approved, and they lose money even before they earn it. Another annoying thing about high risk merchant application is that the process of merchant account providers will take a very long time before it gets approved. This is because the provider assess the business first and checks the rate of fraud or track backs that can happen in the high risk merchant. Also, you spend more fees compared to a regular merchant account.

However, it is not too late to try. When you really need a way in accepting credit cards, you have no choice but to apply for a high risk account. Before you try one, let me give you some quick tips to get you approved in a high volume merchant account. First consider that when you are offering an offshore services, your high risk account application is likely to be declined than accepted since there are so many offshore scam services online. Next is to check your credit rating, your credit rating will determine if your account will be approved or not. A poor credit rating is simply an indication of getting your account automatically rejected. You don't need to open your own bank account because it will be transferred directly in your bank. Most high risk merchant gets accepted because they have a minimum monthly credit card sales volume ranging from $10,000 up to $50 million. During the processing of your high volume merchant account, you will likely to be checked of the following: personal credit of the owner, business lifespan, business profile, monthly processing volume, fraud or charge backs history, processing history. And here are some things you should know during the application: Some require minimal volume caps some don't; You can choose your own international bank; the merchant listed as terminal merchant file will still have a chance to get approved but only if they are not involved in any kinds of fraud in your account. Once the account is approved, you can start accepting credit cards in a matter of weeks, or as soon as the terminal software has been set up.

Start remembering these conditions before you start applying for a high volume merchant account and I guarantee your chance of approval.

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Online Shopping And Why It Has Grown To Be Such A Hit Today

Doing your shopping online has become a trustworthy and efficient activity nowadays. It was only a few decades ago that the concept of online shopping was recognized in the virtual realm. At first, people were highly doubtful of it since there were so many reasons to feel unsafe about online transactions. Nevertheless, it only took a very short period of time for online shopping to become quite established and these days, there's almost nothing you can't do online. You can actually see how it is more advantageous over on-site shopping. After all, we can't always have time to spare to actually go out and complete our shopping list.

Perhaps one of the greater benefits when shopping online is that you can secure the items you need or want without having to waste so much time. For example, if you are searching for some wire shelving for residential or commercial use, then you just need to look up the right online stores. You will find that there are so many online stores that sell home improvement items, commercial supplies, and more. All you have to do is learn how to use your search engines properly and refine your searches. Once you have conducted your search, you only have to select those online stores that actually have the items you need in stock. You will have an even more efficient time comparing prices and assessing product features.

Another big advantage of online shopping is that you can purchase products from almost anywhere in the globe. In other words, you are no longer limited by distance to get the items you want or need. So if for example you're searching for wine carts, it can be that your local online stores do not carry the kind that you need. If you want a certain design or a specific brand, then you can also just look it up. It doesn't matter if it has to be shipped from another state or country. Most online stores provide international shipping services now. Plus, you can even get free international shipping from a lot of online stores when you reach a certain minimum on the purchases.

Lastly, online shopping now carries a whole bunch of safeguards that make the transactions safer and more trustworthy than they were a few decades ago. Nowadays, online purchases now carry money-back guarantees as well as warranties for product performance. Hence, you don't need to despair when you end up with the wrong item or buy one which is defective. You just have to return the item and ask for the correct replacement or get your money back. Of course, being cautious is always encouraged and you should stick with established online stores. Like everything else in this world, one should always exercise the prudence in all his transactions.

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Ecommerce Analysis That Counts

E-commerce web analysis deals with traffic measurements, sales conversion, keyword conversion and site performance metrics. Knowing what the numbers mean and interpreting them within the framework of your online business is very important. Small reductions in pay-per-click advertising costs, an increase in sales or site traffic can add significantly to your bottom line. You need to know what ecommerce metrics to focus on and how to setup your e-commerce analysis to benchmark your site performance. Here are some essential components of web site analysis:

Sales Analysis: You should have conversion code installed on all your sales pages to record which search terms your visitors used to produce the sale. This will allow you to refine your search engine and pay-per-click campaigns to target terms that correspond to customer buying behavior. Google analytics has the capacity to measure these statistics. You can learn more about installing and using the features of this package by doing an online search for the Google analytics website.

Keyword Analysis: This applies at the organic and pay-per-click level. By knowing where your traffic is coming from you can refine your advertising options to increase your exposure to traffic that is relevant and decrease exposure to lazy traffic that does not convert. This allows a company to reduce pay-per-click bids and to focus search engine optimization on terms that bring highly targeted traffic that converts.

Traffic Analysis: E-commerce web analysis can indicate where the majority of your traffic is coming form. If you have targeted advertising on portal or partner sites, you can determine the suitability of the target market and adjust your campaigns accordingly. This applies across all search engine disciplines and can indicate areas that need attention and potential hidden areas for further refinement or research.

Content Analysis: A trend that reveals higher page views within your site can indicate potential audience interest that is ripe for further content or product creation. You internet analysis statistics will indicate how long visitors stayed on a web page. Pages that do not attract much interest may be topics that do not interest your target market or that require further advertising effort to bring them to the forefront of visitor attention.

Geographic Analysis: A high percentage of purchasers from a geographic area provides a good indication of where your target market resides. You can then seek advertising partners that have a high exposure to this area and create banner or traffic campaigns to divert relevant traffic to your site.

The above aspects of e commerce web analysis should be considered by any online business that is looking to increase its bottom line.

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What Are the Key Factors to Take Into Account When Setting Up a Complete E-Commerce Website?

E-commerce websites open up many doors and can this can have huge advantages and benefits for both consumers and the business which sets it up. There are however, certain key factors which have to be taken into account to ensure that the e-commerce website works well for the consumer and the e-tailer.

An online store works pretty much the same as any conventional shop, the advantage for the consumer is that they have access to a far greater amount of information about any product they may be interested in purchasing. This said, consumers will browse the Internet and visit many online stores to find the best bargain around. The fact they have access to reviews about products at their fingertips, means they are more inclined to use an online store than a conventional one these days as it takes up a lot less time and effort.

One of the main points to consider when setting up an e-commerce site is what it is you are actually offering the consumer and how much they really need the products you are selling on your website. Setting up an e-commerce website means you have to make all your potential customers feel secure in the environment you offer them. You need to assure them that when they give personal information such as credit card details that these will be kept securely and there is no risk of any of this sensitive data being accessed by any third parties.

It is common knowledge that consumers always weigh up the risk factor of purchasing any item from a website. With this said it is vitally important to build up a solid marketing strategy which involves personal communication. Word of mouth recommendations are the best form of marketing any business would ever need to succeed in a very competitive market. The only way of really being able to achieve this is to supply a very good quality of service to each and every customer. This will work wonders as it encourages existing customers to let others know about their personal experience on your website.

Your e-commerce website has to be user friendly, allowing visitors to easily navigate through the site with all the options obviously evident on every page. These visitors are potential customers so they need to feel comfortable about browsing through your website with ease. Offering deals on products will tempt them onto the site and it will help to keep them interested which translated means you stand a better chance of them staying on the page, rather than leave it to visit one or your competitors' websites.

Research has shown that the modern consumer likes to be in control of the situations they find themselves in, so the higher level of control you offer them on your website, the better chance you have of making the consumer feel like they are getting complete satisfaction with the service you are offering them. This can be quite a delicate accomplishment because as an e-tailer you need to maintain control over the service you provide to your customers.

Once you have captured your audience, you need to be sure that delivery of any products they purchase is guaranteed to get to them in the shortest possible time. This means setting up an arrangement with some kind of courier service which is more than just reliable.

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How Doing Business Online Will Benefit Your Offline Business

The rise of the internet and ecommerce has brought down many major high street retailers. There have been many high profile bankruptcies such as Game and Woolworths. While ecommerce seems to be threatening the survival of traditional retailers, it also offers many lucrative opportunities that can directly and indirectly benefit an offline business. Those remaining traditional retailers must adapt to the new technology and utilize it to grow their business or to survive. Indeed, many major retail companies have already embraced the concept of ecommerce and are doing quite well by it. However, many small local businesses are slower to adapt. This has to change if they are to compete with the major retailers as well as many thousands or even millions of virtual sellers that are fighting hard for their customers.

By setting up an online shop, the business can reach new customers in new geographic areas. By increasing the size of the potential market the business can generate more sales and improve profitability via greater economies of scale. The fact that an online shop is much cheaper to run because there is no expensive rents associated with maintaining a website and the business owner doesn't need to hire any shop assistants to attend the shop means online sales can carry much greater profit margins.

Besides greater potential sales and profit margins, having a website can help your offline business in a number of other ways as well. Here is just a couple.

Information

Your website can contain information that is not physically possible to display or convey via your physical store. Customers can read stories about your company, news announcements, terms and conditions and even watch tv adverts and promotional videos online, which they wouldn't do if they were visiting your physical store. This means you can put all the information you think is important or you'd like your customers to know about on a platform that can be accessed by all your customers 24/7. This helps customers have a better understanding about who you are, why they should shop with you and more importantly the terms and conditions. Should there be any problems with a particular sale, customers can access your terms and conditions online, which reduces the work load and cost of your customer service operation.

Customer Database

It is much easier to build a customer database online than it is offline. Many of your online shoppers could be customers who live nearby and also visit your physical store. When people shop in your store, they pay for what they buy and you do not have much data to build a database that will allow you to track customer spending habits and offer product recommendations. However, online orders usually require the customers to identify themselves for delivery or collection. This makes it easier to build a database that will allow you to build relationships with your customers and make future marketing efforts more effective.

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Considerations for a Successful Online Store

The current developments seen on the technological front has opened the gates for the traditional retailers to enlarge their customer base. Today, you'll see umpteen number of devices and communication equipment that enable an e-tailer to enrich his products presentation while re-defining his user experience.

From gen X, we now talk about gen Y which is more tech geek and prefers to purchase products through their smart devices. Similarly, e-merchants are also making earnest endeavors to get a successful online store. A lot of this depends on what e-commerce platform you choose and customization flexibility it offers.

For example: if you opt for Magento customization and development, the platform is said to be the reservoir of useful features to help you foster your brand popularity.The choice certainly depends on the scale of your business, specific features you want, ease of operation and many more. However, there are some kick-ons that can help you drive more user traction.

1. Uniformity It's important to showcase the same line/range of products on multiple platforms, right from your traditional store, to your e-store, m-store and social networking sites. Don't let your customer browse from one platform to another to find a product that he/she might have seen on your m-site.

2. Responsive design element Responsive web design is quite avidly being used by the web companies to design websites that enable finest viewing experience. The idea is to enable the website to appear the same on different devices- desktops, Smartphones, tablets, iPads and the like. Another notable point is to use specific themes, images and graphics for specific device.

Looking at the astounding mobile user base, it is recommended to start focusing on this profitable medium.

3. Consumer behavior This is all about all those uninviting updates and special offers that the companies and several online stores keep providing. Not all of us are ready to absorb such updates and as a result,we keep ignoring them. A success tip here is to shoot off these updates as per the likings of different groups of your target audience. For example: youngsters between the age group of 18-25 are keen to receive updates on special offers related to gadgets, fashion accessories, etc.

4. Customer relationship program Keeping your customers happy is considered as a long term investment wherein you make efforts to understand the requirements of your customers. Sending a thank you message right after order booking is necessary to maintain good relations. Also, during festival times or occasions of any grand celebrations, you can always reach your customers by writing a customized and personalized message. This way you can not only advertise about your discounts and special offers but also develop healthy relations.

Whatever e-commerce platform you choose,mastering the aforesaid is a must for the success of your online store.

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Optimizing Virtual Agents to Achieve Customer Satisfaction in Ecommerce

Most online consumers are driven to utilize ecommerce because of its convenience when compared to ordinary shopping. Not only do they access a wider range of products and services at competitive prices, but also enjoy a much more satisfactory customer experience. All ecommerce transactions are commonly noted for the ease an individual experiences while executing them.

As a result more and more people are turning to online shopping to make their essential purchases, and many ecommerce websites have seen the need for a more effective interaction with their clientele. Whilst it's true that the internet is convenient, it is still not exempt from occasional glitches. For instance, a customer might experience difficulties navigating to the particular category of product he or she desires in a website. If left unchecked, such occurrences can cause adverse repercussions on any ecommerce website as most web surfers will instinctively go somewhere else.

In answer to this dilemma, most "e-tailers" incorporate the conventional FAQs links, and sometimes customized search engines in their websites. However, these solutions are sometimes counter-productive, and leave the client in a deeper fix than at the beginning.

Fortunately, technological advancements over the years have given rise to efficient software programs popularly known as virtual agents(IVAs). These intelligent programs can directly interact with any stuck customer on a wide range of issues relating to the website's various services. Virtual agents can be termed as the perfect customer relationship employees. They are naturally programmed with in-depth information concerning the business entity they represent, works 24/7, and are excellent at multi-tasking. Furthermore, depending on the scope of the business an IVA can be programmed to carry out dialogues in different languages. Consequently, these programs can be invaluable for ecommerce websites that receive high traffic throughout the day as an IVA program can effortlessly communicate and reply to the client's queries, thus offering them a fast and personalized solution to their problem.

Incorporating an IVA program in an e-commerce website can offers profound benefits in enhancing your firm's customer relationships, which invariably leads to client satisfaction, and loyalty. Secondly, incorporating an IVA program can relieve a company of the need for human agents. Unlike the latter, virtual agents are ubiquitous, can attend to thousands of clients at a go, and more importantly, never cease working. Consequently, opting for this failsafe solution can enable business entities to employ the resources they might have used on maintaining human agents in expanding the enterprise.

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An Introduction To The Different Types Of Ecommerce Platforms

There are a number of ways a business can transact online. It can set up its own dedicated website with integrated transaction functionalities so customers can complete orders and payments online. It can also take advantage of different types of ecommerce platforms, where businesses can promote their brands, products and services and transact with customers who are users of these online platforms.

There are a number of different types of ecommerce platforms, each designed to serve a particular type of business. If you are a business owner, you can decide which type is most suited for helping you conduct your business online.

Contract Sites

Contract sites are platforms where people looking for freelancers or need help with short term projects can post their project requirements and have service providers bid on them. It lets buyers compare and select the professionals based on prices and reviews. It is ideal for services companies like plumbers, builders, web designers, software engineers and SEO professionals. From the business perspective, these websites provide a large source of work. They will always be able to find people who are in need of their services.

Marketplace

Everyone should be familiar with online marketplaces. They have been around since the introduction of the internet. These are sites where people can find almost anything to buy and buy directly online. The items you will find on a marketplace website are not being sold by the company that runs the marketplace but instead by independent sellers who join the marketplace website and set up their own virtual shops to sell their products. There are a number of well known international marketplace websites. For online sellers, these marketplaces provide a large pool of potential customers. Setting a virtual store on these marketplaces is like setting a stall or a shop inside a busy shopping mall. The sellers benefit from instant exposure to millions of virtual shoppers.

Ad Exchange

Online ad exchange websites or ad marketplaces are websites designed to help content publishers sell advertising on their websites. Content publishers that have built up a large audience can't always find advertisers to fill up their ad inventory. Unfilled ad space can't be recycled so it is better to try and sell them at a lower rate than to let them go to waste. These ad exchanges allow publishers to advertise the spare capacity on their website and the ad buyers can bid on these ad spaces. It means publishers no longer need to cold-call potential advertisers to try and sell their ad space and they can just advertise on these online ad exchange websites and ad buyers from all over the world will be able to see it.

Price Comparison

Price comparison websites are websites that help consumers find the best deal on a range of things from insurance, flight tickets to hotel rooms and credit cards. Customers like to use them because they can get the prices from a large number of vendors by entering their details only once. As a result of this convenience, price comparison websites often can attract a lot of virtual shoppers. Businesses can't afford not to be listed on these websites because if their customers use it and they are not listed, there is a good chance the customer will go with their competitor instead. Those businesses that participate on price comparison websites benefit from instant exposure to millions of virtual shoppers. It is a great way to gain access to new customers and steal customers from competitors.

Setting Up an Ecommerce Store: The Basics   The Benefits of an Online Store   Got $20? Why Not Start Your Own Business?   Online Shopping Carts That Are Safe and Reliable   Where Does E-Commerce Go?   

An Introduction To Different Types Of Internet Business

Before the telephone was invented business used to be done in person between the buyer and seller. Terms were agreed and money exchanged face to face. After the telephone was created, it created a whole new way to do business - over the phone and by fax. Terms can be agreed over the phone, contracts exchanged by fax and money sent over the wire. New technology brings new ways to doing business. It helps businesses reach new customers and make transaction simpler and faster. Now we have the internet, which lets people conduct more and more transactions online. It is far more powerful than the telephone because of the amount of data and the range of data that can be transmitted online and the speed of data transmission. It can bring new opportunities to businesses who figure out how to take advantage of it and threaten those that do not. It is very important for every business to have a good understanding of how to do business online. It is not just about buying and selling online. The internet can be used by all kinds of businesses.

Online Bookings

Businesses that provide services to customers can use the internet to promote its brand, services and take bookings online. It doesn't cost anything to have a booking system hosted online and it can be accessed by customers anywhere 24 hours a day 7 days a week. It is like having a booking agent who doesn't need to rest, who doesn't make mistakes and who doesn't ask for a penny in salary.

Online booking service allows customers to reach you at their own convenience even outside of normal office hours. Even if a customer couldn't honor his booking, his/her information is stored in a computer system, where you can easily organize and manage customer data for future marketing activities.

Online Selling

Everybody should be familiar with the idea of selling products online. It is very straight forward. The seller can create a website or a virtual store on an online marketplace, load their products and sell directly to customers. Payments will be completed online. Once the seller has received the payment, the item is dispatched by post. As online gaming industry grew, it created a new segment of ecommerce revolving around the selling of in-game virtual items.

Online Advertising

Online advertising is the forte of new media companies and content publishers. It works the same way as traditional media businesses such as newspapers and magazines, where the publisher makes money through advertising. Online advertising is paid based on cost per 1,000 ad impressions (CPM) so the higher the CPM and the greater the ad impressions a website can generate the more money it will make. New media companies therefore focus entirely on creating attractive and engaging content that will attract more people to the site and generate more page views (ad impressions). The most popular types of content include games, news, celebrity gossip, jokes, forums and how-to guides. Although a few independent bloggers have also been able to create big enough followings for their personal blogs that they can make a decent living out of online advertisements.

Setting Up an Ecommerce Store: The Basics   The Benefits of an Online Store   Got $20? Why Not Start Your Own Business?   Online Shopping Carts That Are Safe and Reliable   Where Does E-Commerce Go?   

Understanding Web Traffic Conversion Rate To Improve Your Online Strategy

An easy mistake made by a lot of business owners who are new to the internet is to try and fix low online sales with spending money on online advertising. It is not a good idea to just throw money at the problem as this strategy won't always work. Just think what is the point of advertising and getting more people to visit your website if your website is not capable of converting all those visitors into real customers?

The concept of web traffic conversion rate is to measure how many people actually buy something from you as a percentage of the total number of your online visitors. If the percentage is low, then the effectiveness of any advertising campaigns will also be low and you should take the time to examine why the percentage is so low and try to implement changes to improve it.

The concept of web traffic conversion rate is to measure how many people actually buy something from you as a percentage of the total number of your online visitors. If the percentage is low, then the effectiveness of any advertising campaigns will also be low and you should take the time to examine why the percentage is so low and try to implement changes to improve it.

If the percentage is low, you could have a problem with the way you are presenting your information. Maybe you haven't given customers enough information to help them decide to buy from you. Maybe your online ordering system is too complicated or badly designed where customers do not feel safe or comfortable shopping with you. It is always a good idea to provide the customers with as much information as possible. Provide them with all your contact information (telephone number, fax, email address etc.) so they can easily ask you questions.

If your online sales is low, it is very important to analyze the stats to see whether it is due to low traffic (online exposure) or low conversion rate. Many businesses make the mistake of thinking they can cure poor online sales by spending money on online advertising. Advertising can only increase your web traffic. It won't cure you of low conversion rate. If your website suffers from low conversion rate, do not spend a lot of money on advertising until you've fixed it, otherwise the money will be wasted as the extra visitors generated by the advertising campaign will not be converted into real customers.

A well designed website should be able to seduce customers into buying and make the buying process as easy and comfortable as possible. Anything above 20% is a good conversion rate while you should seriously consider revamping your website if your conversion rate is below 1%.

Setting Up an Ecommerce Store: The Basics   The Benefits of an Online Store   Got $20? Why Not Start Your Own Business?   Online Shopping Carts That Are Safe and Reliable   Where Does E-Commerce Go?