Week 4 (E-commerce)

Electric commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the internet and other computer networks.

E-commerce has grown a lot since the start of the internet, and it had many successes and failures.

In order to be successful in e-commerce, there are 10 key factors that ensure success.
1) A clear vision and goal
2) Patience and a long-term view
3) Taking calculated risks
4) Continuous improvement
5) Successful sites employ good advisors
6) They make decisions quickly and change their mind slowly
7) The consumer is king
8) Successful sites embrace technology and change
9) Be fair and honest with customers and suppliers
10) There is no such thing as easy money

However, there are some e-commerce that have failed.

The 10 reasons of failure are:
1) Your site is not based on achieving your website objectives
2) Your website is too generic
3) Your budget only included web design and development
4) Your site has no appeal
5) Your website contains little to no content
6) You have an intro page
7) Your web design sucks
8) You used hosting software to easily build your own website
9) You hired out your web design and development to a near-third-world-country
10) You hired your nephew

E-marketing is the next thing to be created during the spread of e-commerce. Many people have ventured into e-marketing and there are some ways to improve your chances to be successful. Firstly, the foundation to any online marketing campaign is a Search Marketing strategy comprised of paid search marketing (Pay Per Click - PPC) and organic search marketing (Search Engine Optimisation - SEO). With SEO and PPC it is relatively easy to ensure success if you follow the following tips:

1) Keyword - choose keywords wisely
2) Content Relevancy is key
3) Clear navigation
4) Call to Actions

Finally, there is the issue about the security, privacy and legal issues for e-business. There are many concerns about these issues like hackers who hack into many e-businesses and have stole or leaked vital information. Then there are some e-businesses that have violated certain laws to gain an advantage. Overall, these issues will always be there, and there are companies that are making a profit by ensuring security.