Global Reach: The net being inherently global, reaching global customers is relatively easy on the net compared to the world of bricks.
Cost of acquiring, serving and retaining customers. It is relatively cheaper to acquire new customers over the net; thanks to 24 x 7 operations and its global reach.
An extended enterprise is easy to build. In today’s world every enterprise is a part of the ‘connected economy’; as such, you need to extend your enterprise all the way to your suppliers and business partners like distributors, retailers and ultimately your end-customers.
Disinter mediation: Using the internet, one can directly approach the customers and suppliers, cutting down on the number of levels an in the process, cutting down the costs.
Improved customer service to your clients: It results in higher satisfaction and more sales.
Power to provide the ‘best of both the worlds’: It benefits the traditional business side-by-side with the internet tools.
A technology-based customer interface: In a brick-and-mortar business, customers conduct transactions either face-to-face or over the phone with store clerks, account managers, or other individual.
The customer controls the interaction: At most websites, the customer is in control during screen-to-face interaction, in what the web largely employs a ‘self service’ model for managing commerce or community-based interaction. The customer controls the search process, the time spent on various sites; the degree of price/product comparison, the people with whom he or she comes in control can rest with either the buyer/seller or the community member.
Knowledge of customer behavior: While the customer controls the interaction, the firm has unprecedented access to observe and track individual consumer behavior. Companies, through a third-party measurement firm such Vividness and Accrue; can track a host of behaviors on web sites visited, length of stays on a site, page views on a site.
Cost of acquiring, serving and retaining customers. It is relatively cheaper to acquire new customers over the net; thanks to 24 x 7 operations and its global reach.
An extended enterprise is easy to build. In today’s world every enterprise is a part of the ‘connected economy’; as such, you need to extend your enterprise all the way to your suppliers and business partners like distributors, retailers and ultimately your end-customers.
Disinter mediation: Using the internet, one can directly approach the customers and suppliers, cutting down on the number of levels an in the process, cutting down the costs.
Improved customer service to your clients: It results in higher satisfaction and more sales.
Power to provide the ‘best of both the worlds’: It benefits the traditional business side-by-side with the internet tools.
A technology-based customer interface: In a brick-and-mortar business, customers conduct transactions either face-to-face or over the phone with store clerks, account managers, or other individual.
The customer controls the interaction: At most websites, the customer is in control during screen-to-face interaction, in what the web largely employs a ‘self service’ model for managing commerce or community-based interaction. The customer controls the search process, the time spent on various sites; the degree of price/product comparison, the people with whom he or she comes in control can rest with either the buyer/seller or the community member.
Knowledge of customer behavior: While the customer controls the interaction, the firm has unprecedented access to observe and track individual consumer behavior. Companies, through a third-party measurement firm such Vividness and Accrue; can track a host of behaviors on web sites visited, length of stays on a site, page views on a site.
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