Getting Started in ECommerce - Part One

Written by Heidi Richards, MS


In 2004, Enquiro.com conducted a study ofrepparttar search behaviors of men vs. women. They found that women spend more time in their searches and at specific sites. The study also revealed that women tend to be more deliberate in reading search results, linger longer at sites and have a greater satisfaction inrepparttar 136317 overall shopping experience. Another study conducted by iProspect.com revealed that women are more apt to clickrepparttar 136318 paid search advertising because they find it more relevant to their searches than do men (WebProNews - July 14, 2004).

What does this mean? It means that if we understandrepparttar 136319 searching and shopping patterns of our target audience we are better able to create marketing strategies to effectively drive traffic to our sites. Donít yet have a website?

Electronic commerce or ecommerce is used to describe doing business overrepparttar 136320 Internet. Selling products and services to customers overrepparttar 136321 Internet can be accomplished a number of ways and various levels of sophistication.

The first thing you need is a professional Web site with its own domain name. You need to design and promote a Web site. You'll need access to expertise that can regularly design and maintain this Web site for you. A good website which gets visitors to return is constantly evolving and therefore, require ongoing attention. There are thousands of resources available for you to take advantage of, many of which are free. You can surfrepparttar 136322 Internet for what you need or you can simply visit www.WECAI.org to seerepparttar 136323 many resources we have listed. We have resources for guests and if you are a member we have even more resources to help you get started. In fact, you can search our domain registry and purchase your own unique domain name at www.wecaidomains.com.

MILK YOUR WINNERS, DROP YOUR LOSERS

Written by Nick James


Copyright 2005 Nick James

In my previous article How To Be 100% Sure That Your New Product Is A Winner We have discussed dropping losers.

I hope I have given yourepparttar message strongly enough. Butrepparttar 136228 same principle applies to milking winners. When you get a winner in-demand product, it is a license temporarily to print money.

You will have so much ofrepparttar 136229 folding stuff pouring through your letterbox or credit card numbers blocking up your email account... that you will hardly know what to do with it.

HOWEVER: Every product has a strictly limited life-span. It doesn't matter how wellrepparttar 136230 product performed inrepparttar 136231 early weeks,repparttar 136232 response will gradually tail-off over a couple of months - year to a point whererepparttar 136233 product starts losing money. There are two big factors which cause this:

1. Everyone has seen your marketing material (emails, web-pages, direct mail letters, postcards, newspaper ads etc) a hundred times, and those that are going to buyrepparttar 136234 product, have, inrepparttar 136235 main, bought it already.

2. You 'lucked-into' a mood ofrepparttar 136236 moment. For example, everyone's suddenly worried about car security at exactlyrepparttar 136237 moment you advertise your steering-wheel lock. This mood will rapidly pass asrepparttar 136238 population (driven byrepparttar 136239 media) move on torepparttar 136240 next area of worry or concern. (What a terrible cynic I am.).

I have seen people make lots of money on a product, and then hand up to 50% of it back torepparttar 136241 newspapers as they attempt to breathe life into a dying market. I have seen a single advert in The Sun take one thousand orders for a £49.95 product. Then, six weeks later (afterrepparttar 136242 product has been heavily advertised), I have seenrepparttar 136243 identical advert pull in only eighty or so replies (and of course, lose big money). You must listen whenrepparttar 136244 market says it has had enough of your product. Getting out early is a sure-fire way of keeping most ofrepparttar 136245 money you have made.

It'srepparttar 136246 same withrepparttar 136247 stock market. Everyone aims to sell at exactlyrepparttar 136248 peak ofrepparttar 136249 market, and buy at exactlyrepparttar 136250 trough. But, of course in reality, these peaks and troughs are impossible to predict accurately. The stock-market winners sell early, and buy early. The losers sell too late and buy too late - they stay onrepparttar 136251 roller-coaster too long. They hang on to a rising market out of greed, thinkingrepparttar 136252 market will rise forever.

The same is true of product development and direct marketing. When you get a winner, it is tremendously exciting. But your greed can make you hang ontorepparttar 136253 product long after it should have been dead and buried.

Want to know a sure-fire indicator of when to pull out?

Quite simply, you should pull out when allrepparttar 136254 other developers and marketer boys (and gals) start piling in after your initial campaign. This takes tremendous self-discipline, but pays enormous dividends. The strong temptation is to hang on, and hang on. If an advert fails, you attribute it to something funny about that particular issue ofrepparttar 136255 paper, or day ofrepparttar 136256 week. You advertise again and again, spurred on byrepparttar 136257 glint of gold.

Also, another factor comes into play here (and I'm telling you 100% solid truth); it isrepparttar 136258 distraction factor. You see, you don't run this huge mail-order organisation, do you? There is no 'packing and shipping' department; that's YOU inrepparttar 136259 shed/garage, late at night. So when you get a winner,repparttar 136260 chances are that you will be overwhelmed trying to keep up with sourcing and shippingrepparttar 136261 product. This will take 100% of your time. Meanwhile, every newspaper from Golden Labrador Weekly, to Clay Pigeon Shooting Times will be onrepparttar 136262 phone pestering you for an advert. The danger is that you will just say 'Yes, yes, yes' to all these people, and end up spending tens of thousands of pounds on a dying product.

The solution is to keep your eye firmly onrepparttar 136263 ball. Retain your policy of only taking adverts inrepparttar 136264 mainstream press I advised. Don't go too crazy withrepparttar 136265 adverts, as this will alert allrepparttar 136266 other mail-order boys, and pushrepparttar 136267 rates up. As soon asrepparttar 136268 papers see that you have a winner, suddenlyrepparttar 136269 rates go up, and adverts become hard to get away. You must play a double-double bluff game here. Above all, never let on to anyone how well your advert is doing. If asked by someone trying to sell you space, you tell them thatrepparttar 136270 response was lousy, but that you are going to give it one more go. Could they offer a cheaper rate? When you have a mail-order winner, bewarerepparttar 136271 fatal combination of:

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