International Business Machines (IBM), an American multinational technology and consulting corporation and the second largest company in the US in terms of employees, defines e-business as the transformation of key businesses through the use of internet technologies.
Its concept can be used in two ways: as applied to strategy and operations, say marketing and promotions; or as business per se like selling retail online like what Amazon and e-Bay, two of the largest e-commerce sites in the world, do.
So is e-commerce for you?
If you find that most of your target consumers spend considerable time online, then the decision is a resounding yes.
In a period when (mobile) internet access in the Philippines is shooting up with the democratization of smartphones—P1,500 for an Android phone!—going on-line whether as strategy or the very backbone of your business has never been more timely.
E-commerce expert Ajeet Khurana in about.com names its top five advantages: overcome geographical limitations, gain new customers with search engine visibility, locate the product quicker, eliminate travel time and cost, and lower operating costs.
The last truly rings a bell and one of the most tangible positives of the e-commerce setup. Advertising and marketing costs are definitely lower than in traditional media. And so does personnel costs with the automation of checkout, billing, payments, inventory management, and third party logistics. The entrepreneur also does not need to have a physical office or shop; thus lowering real estate costs.
The good news is that today, the entrepreneur does not have to build the e-commerce infrastructure from the ground up with sites like Lazada Philippines (lazada.com.ph) or even Facebook’s Shopify (shopify.com/facebook).
Learn more about e-Commerce and how it can work for your business. Join the CRM and e-Commerce Marketing Specialist Track of the CDM-IIDM Program.
Log on to imadigitalmarketer.com or call 927 0096 / 0928 506 5382 for more details.