EcommerceBusinessPlan -The Need

For online success, a predetermined plan has to be charted considering the cost involved, the marketing strategy, and the revenue generated. Just having a website is not enough. There are many sites, which do not get traffic at all. There are also many sites, which do get traffic but fail to turn them into customers. All these facts point towards the necessity of a good workable ecommerce business plan. This is where the online business venture begins – the ecommerce business plan. Without a plan of action, nothing of real value can ever be achieved. The ecommerce business plan will cover a number of features from the design of the website to the fulfillment service methods; each of these features should be the best available with a heavy bias towards the customer.

The ecommerce business plan revolves around Product, Price, Person, and Place

The ecommerce business plan revolves around the product - its distinguishing features and usefulness; price - what is best price for the product; person - who are its buyers; and place - where will the product sell. Besides the main 4Ps of marketing, the following criteria also have to be fulfilled to make the online venture a success.

Homogeneity – the product, though obtained from different suppliers/sources will have to be of a homogenous quality and dimensions. Whether it is a mobile set or a book the item should be favorably comparable to the ones that are bought elsewhere.

Ability to ship the product – before you launch your online venture you should find out whether the product could be shipped easily. This is a daunting task if the product is bulky or very fragile. If the customer cannot get the product quickly and in tact, you will loose repeat customers and word of mouth advertising.

Cost of delivery – in similar manner heavier items will cost more to deliver to the doorstep than lightweight items. The cost of delivery is an important factor that decides the customer uses when deciding whether or not to buy an item. Hence, keep this cost as low as possible.

Cost of the product – many customers are attracted to the online shopping because they get many of their favorite products at a much lower cost than in the real- shops. You need to keep the cost at least 10 percent less than what is available in the brick-and-mortar market.

Availability – do you plan to have a good stock of the product that you propose to sell or do you have a good tie-up with some supplier(s), which can provide you with the product on the spot. If the product is not available easily to the customer – after the payment is processed – you will have a very unhappy customer.

Target market – think whether you need to address the needs of a certain age group, geographical area, or it is to be available for all people, all over the world.

Payment options – what type of payment options you are offering will greatly influence the sale of your product.

All these and more will have to be taken care of right at the beginning stage when the ecommerce business plan is being drafted.

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