State of E-Commerce Free Essay Samples & Outline
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Essay on State of E-Commerce
The first important key point that is made is inbound marketing. Inbound marketing according the authors is described as a data-driven strategy that is holistic and it involves the attraction and the conversion of visitors into customers through personalized, relevant information. It involved three main themes that are extremely important when it comes to marketing; the first is to attract strangers and convert them into customers.
Lastly, after they have become customers, they will become promoters of the brand and these can be done through the use of a social inbox, smart content, and events. Inbound marketing can be described as an effective method for doing business online. Inbound marketing discards the old way of buying advertisements, paying for leads, and instead it focuses on the creation of quality content that helps in ensuring people understand the company and the product being sold. For example, sites such as Walmart.com have designed their websites in relation to quality content as compared to the traditional advertisement fashion.
The second important key point that can be adopted in the e-book is that as adoption of blogging as a marketing method grows, e-commerce marketers are by the day investing more heavily when it comes to the building of an audience and the provision of more entry points through either organic search or by frequently blogging (Mallikarjunan, 2014). For example, food blogs are known to redirect clients to restaurants where certain dishes are served.
The blogs are important as they redirect customers to the company’s website where they get more content regarding the company and where the company can sell to them whatever they are selling. Reading blogs has become a norm for most consumers, and consequently, a company hiring a blogger is important as it will in most cases help when it comes to increasing traffic that in most cases is translated to more potential customers. The bloggers should have creative content that addresses a broader range of customer education topics and which seems to lead the customers to the company parent website without seeming to do so.
The third important key point is that companies that focus on customer centricity can experience increased revenue. Some of the notable customer-centric activities include content and marketing automation that is intended to increase customer lifetime value (Mallikarjunan, 2014). The research shows that indeed companies that are customer centric are often more likely to seen an ROI from inbound marketing as compared to the sales-focused companies. The companies that are sales focused are significantly less likely to seen an ROI from inbound marketing.
Product focused companies can be said to be a customer centric, and this is because they are highly customer focused as they tend to look at the end user’s requirements, as well as their feedback. Therefore, there is a need for companies that are practicing inbound marketing to ensure that they focus on the customers and pay attention to their requirements and the feedback that they give.
The fourth important point is that companies whose focus is increasing the value of the current customers as compared to primarily focusing on new customer acquisitions are likely to get more value from the segmentation of their databases in order to engage in a more personalized marketing. Further, according to the statistics that are presented, companies that are often focused on the tracking and the increasing of customer lifetime value are about 790% more likely to see the segmentation of their customers (Mallikarjunan, 2014).
This is an important point to note given the high statistic and the fact that most companies do not take into account this important factor. The companies often use personalized marketing for their consumers and one of the main methods that markets often use when it comes to remarketing to their customers is the use of email for the existing customers. This is closely followed by the popular channel that is social media.
The fifth key point expressed in the book is that when it comes to the large companies, they have a 25% chance of using educational content in order to convert their contacts prior to a sale as compared to small companies. It is of the essence to comprehend that indeed coupons can be described as very low-barrier to entry for pre-transactional content.
It is, for this reason that most small companies are more often likely to use coupons as compared to educational content. The educational content is often expensive to write, and it requires a lot of resources that the small businesses do not have access to.
The author makes a very important point in regards to coupons, he argues that coupons can be very beneficial when they are used during the right proper buying cycle, however, when a company relies on coupons to fill the top of their funnel, they are only attracting what can be described as price-sensitive customers.
The sixth important point is that social media posts are often more effective when they are being used in a communicate manner as compared to offering educational content. This according to expert Morgan Jacobson is because there is the limited time in regards to exposure (Mallikarjunan, 2014). This, therefore, can be said to justify the popularity of email because many people can digest the information slowly.
It has been determined that most people often skim through their social media sites and consequently, it becomes foolhardy to give educational content in these sites. Therefore, business persons have been looking more effective in order to ensure that they can pass educational content to their consumers. It is understandable to note that E-books, as well as webinars and podcasts, are often harder to produce, and, therefore, it can be said that this might be the reason as to why they are lagging behind.
The seventh important key point in the e-book is that companies that spend less on marketing are more likely to rely more on coupons as compared to educational content. However, when it comes to the large companies, 50% of the companies are more likely to rely on coupons (Mallikarjunan, 2014). It is extremely interesting to note that indeed small businesses, as well as the large business, can be said to share this characteristic.
The author argues that when it comes to the small businesses, it might because they do not have the resources or even the time to create educational content. For the larger businesses, the lack of investment may stem from resistance because the company is seeing an ROI. It is the midsized companies that are more likely to invest in educational content.
There are several cart nurturing channels, and this is the eighth key point. E-mail is the most used channel that does not come as a surprise. Blogging follows secondly, and the direct phone call is the third (Mallikarjunan, 2014). The direct phone call is often used by B2B e-commerce companies and the number of companies that often use social media when it comes to cart recovery. E-mail is preferred being it has a wide readership and the persons that read the e-mails can fully understand the message being sent and can sit down and act on it.
Therefore, this might be the reason as to why many companies often send their materials of cart recovery through email. The use of blogs has been used, but it has not yet been exploited as that of e-mail (Mallikarjunan, 2014). It is important to note that indeed blogs pass messages, but there is no personalized touch when it comes to the blogs. For this reason, many companies do not fancy the idea of blogs.
Phone calls is an important way of following up as the customers often feel that they are respected and that they are valued. In fact, research has shown that indeed those persons that are called through the phone have a higher chance of becoming customers as compared to the people that are not called.
Therefore, phone calls are important. However, there are times when they can feel like an intrusion, and this becomes a big deal because they feel that their privacy has been intruded. Coupons can be described as gratifying solutions and, therefore, it comes as no surprise that they are the most popular (Mallikarjunan, 2014).
Greg Wise a principal e-commerce inbound marketing expert argues that it is surprising that indeed 14% of marketers are currently doing abandoned cart nurturing by using direct mail. This he argues is not a typical channel that is often associated with near-real time requirements when it comes to abandonment nurturing (Mallikarjunan, 2014).
The internet has created an entirely new economy, which by its growth and sheer size has already changed the perception of the traditional way of doing business. E-Commerce is currently one of the biggest phenomena in the world today. It has a globally felt impact all over the world. Over the years, the internet has had a very big impact, and it has grown significantly. Most organizations have found it necessary to incorporate it into their businesses.
The incorporation of E- commerce in business has made businesses more exciting and innovative. Before E- commerce was introduced, businesses were much slower and far more cumbersome. Business transactions took a very long time to complete. Today, however, business transactions are only a click away.
It is important to understand that indeed companies like Amazon and E-bay have been able to successfully create domination on areas, where in a few years ago, the brick and mortar companies were considered untouchable.
However, it is of the essence to comprehend that to be successful on the internet; one does not need to be a giant but rather be smart and wise. Many small, as well as mid-size companies, have managed to build online businesses in a profitable manner. In fact, studies have shown that indeed small as well as mid-size companies are the future of e-commerce.
Freestyle solutions are a printing company that can be put in the middle-size companies. The company deals with printing of any materials. It is often used by publishers as well as individuals that want to print information.
It has a strong online presence and in fact 75% percent of their sales come from their website. There are very many benefits of e- commerce that have accrued to the company because of using in-bound marketing. Some of these advantages include an increase in the number of clients that visit the site.
This is because the content is well organized, and it is easy to navigate the site. Further, in Freestyle solutions the clients having a much wider range of products to choose from. With e- commerce, it is impossible for one company to monopolize any industry, and this is beneficial to the consumers and small and medium size companies such as Freestyle solutions. The use of e- commerce gives Freestyle solutions gives an edge over the others as the company is better able to serve its customers. It enables them to access all they need at the touch of a button. E-Commerce has completely changed the way people live and the scope of business.
There are several things that the authors should have added in regards to E-commerce in the E-book. The privacy issue should be discussed as it is the biggest worry amongst potential e-commerce customers (Schneider, 2008). The fundamental privacy aspect should arise from the degree of access. An efficient website will have to limit the amount of users who log in to view its contents.
This can be achieved through remitting user names and creation of passwords. This will help to evaluate the amount of users who visit their websites. It will also control the privacy of information. This is because information will be accessed by individual who completed their pay packages.
Another feature for a website that is serious about sustaining its privacy is through the acquisition and incorporation of software that can delete the history of the activities conducted by its clients (Schneider, 2008). A striking exemplar is the privacy guardian for personal computers. This will help to ensure that the information accessed prior to usage by another user is eliminated. This sustains the privacy by limiting the contents of the websites on the basis of necessity of information.
Another aspect of a protected website emanates from its characteristics. This means that it does not contain pop-ups that prompt the viewers with suggestive remarks. A protected website would incorporate software to limit this type of pop ups, which are usually a nuisance to the users.
Another Key aspect that should have been addressed in the book is the issue of data and system integrity. Some people are very concerned about the integrity of the system and the safety of their data in these networks. This is because there are very many viruses that plague these systems, making it almost impossible for people to trust these systems. New computer viruses are identified on a daily basis.
These viruses may cause many and unnecessary delays, storage problems, data corruption and many other problems. There is also the possibility of hackers accessing important files online. This needs not be a concern. There are very many software that have been developed for this very reason. With the right software, one can completely protect their data from any external intruders.
Another issue that should have been included in regards to e-commerce is the fact that it is expensive to maintain. Many companies that have succeeded at e- commerce initially had to dig very deep into their pockets to get started. Many small organizations that try to compete with big businesses in e- commerce are likely to fail. This is since it is easier for the big businesses to handle this type of business than it is for the small ones.
This, however, is not true. For any business to succeed in any business venture, they need to ensure that they have the right strategy and that they can market their products effectively, regardless of the business size.
There is the use of survey methodology. The experiment involved 1,099 participants that included business owners, CEOs, marketing directors, practitioners, and managers. The sampling method in this survey was incentivized and was not random (Mallikarjunan, 2014), it consisted of voluntary sample with the participants expressing their willingness to participate through e-mail. The incentive for participating in the survey was to either win a free iPad or $500.
Mallikarjunan, S. (2014). The State of E-Commerce marketing .
Schneider, G. P. (2008). Electronic Commerce. Cengage Learning.