Questions and Answers
What do you think when someone is getting ahead of themselves?
I think you're getting a little ahead of yourself. You missed a step.
What is the first step in an e-commerce strategy?
Planning.
What is an important step before selecting e-commerce platforms?
Gather feedback from current and potential customers about their e-commerce activities.
What is a recommended action to communicate with customers?
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What platforms do I recommend for marketing?
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What should we determine before proceeding with an e-commerce strategy?
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How much customer acquisition cost is Surf's Up incurring per new customer through Facebook ads?
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What information is needed regarding the costs per customer?
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What is the net benefit of the proposed e-commerce strategy?
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What information am I interested in regarding time and staff commitment?
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Which plan would I choose?
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Study Notes
E-commerce Strategy Basics
- Emphasis on the importance of planning as the initial step in the e-commerce process.
- Vital to gather feedback from customers before choosing platforms and activities for better alignment with market needs.
Customer Engagement
- Sending out newsletters is a recommended strategy for enhancing customer engagement and retention.
- Various channels suggested for outreach include Facebook, Twitter, blogs, internal email lists, print media, and radio.
Resource Allocation
- Important to assess how much personnel and financial resources will be necessary for effective e-commerce operations.
- Understanding customer acquisition costs, such as Surf's Up's $10 for Facebook ads, is critical for budgeting.
Financial Viability
- Must evaluate if the income per customer ($5) sufficiently covers overhead costs and leads to profit after expenses.
- Caution against pursuing e-commerce strategies that result in a negative net benefit (-$3,500 loss) unless additional advantages are identified.
Commitment Assessment
- Need to consider the amount of time and staff required for implementing e-commerce strategies effectively.
- Selection of the best plan (e.g., Plan C) should be based on a comprehensive assessment of potential impacts and resource commitments.
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Description
Enhance your understanding of e-commerce strategies specific to surf shops with this set of flashcards. Each card presents a key term and its definition, focusing on planning and customer feedback in the e-commerce realm. Perfect for those looking to strengthen their knowledge in niche online retail.
