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10 Tips to a Winning E-Business Plan
Appeared in Venturer and Women Business Owners newsletter

Leveraging your business online is not as simple as point-and-click, but neither is it hopelessly complicated, regardless of your level of technological expertise.

The Internet has come a long way since any old web page would do. Yet those early days have left their mark in the mistakes you need to avoid, the ones that mark you as a rookie in the e-business world. Here's the list of how not to take your business online:

  • Don't assume you can build it and they will come.
  • Don't assume you can build it once and be done with it.
  • Don't build a beautiful Web site that offers no value to your customers.
  • Don't build a beautiful Web site that is confusing and hard to use - or an ugly one, either.
  • Don't hand your Web site over to the local computer whiz and forget it.

Knowing what not to do is less than half the battle. The rest is knowing what to do right. Just like any other business, creating a winning e-business requires a plan. And creating a winning e-business plan requires thinking through your strategy before you construct a single web page. Here are ten keys to getting your Web site right:

1. Craft an e-business strategy
Developing a Web site takes time, money, and management attention.

  • Decide on the key business objectives for your Internet initiatives. What should your move online accomplish?
  • Capturing your customers' attention is key. The Internet has shifted the balance of power to the hands of consumers. Your customers can evaluate your offerings as well as your competitors' with just a few clicks of the mouse. What will keep them at your Web site?
  • Focus on the unique value you can bring to your customers. Think about how you can make it easier and more convenient for them to do business with you. Provide lots of opportunity for them to interact with people in your company.
  • Remember to track and measure results. It's the only way to know what really works.

2. Analyze your potential customers
Compared with other advertising and marketing programs, the Internet can be your best investment in finding and acquiring customers. Use it to shorten sales cycles and start to generate revenue more quickly. The key is to focus on your customers' buying process:

  • What is the typical decision making process that leads to a purchase?
  • Who are the decision makers, and who influences them?
  • What are the most important criteria for customers to evaluate and select businesses to work with?

Help your potential customers get the information they need about doing business with you so they can make that choice with ease.

3. Serve and nurture existing customers
It's often cheaper to provide good service to keep customers than it is to attract new ones. Use the Internet to connect with your customers, encourage them to do more business with you, build customer loyalty, and reduce customer servicing costs. The key is to focus on enhancing value to your customers:

  • Will they be happier customers if they have a better understanding of your products and services?
  • How important is it for your customers to request and receive technical support?
  • Who are other vendors who can help your customers get more value out of your products?

Help your customers feel connected to resources important to them.

4. Serve and nurture partners and your referral community
Who are the partners you work with in your supply chains and distribution channels? Who refers your best customers to you? Focus on what will make it easier for them to work with you and refer customers to you.

5. Enhance organizational effectiveness
T here are many ways your business can use the Internet to streamline business processes:

  • Will it be a benefit to your customers if they can make purchases online, find out online the status of their orders, or obtain information about their projects?
  • Will it add value if your staff can access and share documents and information online, particularly for those individuals who are on the road?

The Internet offers many opportunities to make communications easier, faster, and cheaper.

6. Recruit the Team
There are several key players you need to assemble:

  • Every successful project has champions who are dedicated and passionate about making your Internet program a lasting success.
  • A good project manager will help to keep the focus on your key objectives, and ensure successful implementation.
  • The voices of your customers and partners, who are the ultimate users of your Web site, need to be represented loudly and clearly.
  • You may need a technology advocate who can help ease the fear some people may feel about transitioning to a different way of doing things, and provide technical leadership.

A good e-business implementation team will help make your vision a reality. You may find some or all of these people within the company, or you may need to partner with other people who have the knowledge and expertise to help you.

7. Hash out the details
Once you've analyzed your objectives for your Web site and put together your e-business team, it's time to draw up a practical plan. Now it will pay off to have a team with a good understanding of your business objectives, with knowledge and experience in leveraging Internet technologies, and with the ability to stay focused on your key objectives. Your plan will include determining the best approach to your Web site, the site's functionalities and interactivities, the key content areas, the communications methods, the technologies and tools to be used, access, hosting, technical support, and ongoing management.

8. Communicate
You've reached the launch milestone - help your customers and partners embrace it!

  • Let your customers and friends know how they can benefit by using your Web site and the Internet tools you have offered. Encourage them to spread the word.
  • Do you have regularly-released information that your customers should know about? Offer them the opportunity to opt-in to receive e-mail updates
  • How do your potential customers find you? Make sure messages about your Web site are integrated with your advertising and marketing programs.
  • Partner with Web sites that your target audience frequents and are good referral sources to link with your Web site.
  • If search engines are an important part of your online marketing, check to see that your Web site is search engine ready.

9. Make sure someone is minding the store
Build it, and keep it up! Your Web site demonstrates to people who do business with you how well you manage your resources and how serious you are in nurturing relationships with your customers and partners. Develop an operations plan and allocate the needed resources so inquiries are answered promptly, content is kept up-to-date, orders are fulfilled as promised, and glitches are resolved in a timely fashion.

10. Monitor performance
How well is your Web site doing? Has the site been an excellent referral source? Have your customers received better service, become more knowledgeable about your products, and become better customers because of what you have offered them online? How do you know? There are many criteria for measuring how well your money has been spent, including tracking site visits, call to action conversion rates, increase in online and offline sales, customer and partner satisfaction, and business operations improvements. What's more, when you keep track of how well your Web site works, you'll also know which parts of it you need to improve.

In the end, your successful Web site will be as easy as point-and-click - for your customers. And because it will be easy to use and full of the information they want, they will come and come back again.

The key to a successful Web site is the thought and planning that precedes it and the execution that transforms that plan into reality. If you set objectives and plan your Web site to accomplish them…If you focus on the benefits your Web site can provide your customers…If you concentrate on how to make your business better by using the Internet…If you measure the results and act on what the measurements tell you…If you build it, and continue to build it…they will not only come, they will stay.

And your winning e-business plan will have built a winning business.

Copyright Eva Chiu and InfoAdvantage.

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