Delivering Value in an Online Business
You'll find more than 5 billion web pages with millions of businesses trying to perform business online. But only a few have succeeded while the rest are mere billboards online superhighway.
These few have succeeded in overcoming the value hurdles by regular innovation.
Constant and never ending innovation is the key to creating value operational more so when your business is totally web based and online. Why is it more important in online business than traditional local businesses?
Let us look at a few key components of value design in traditional vs. online business
Human Presence in Enhancing Value
Traditional organization has one major advantage. It is the ability to communicate one to a single and personally with the customer. While communicating directly with the customer by the sales person, the owner or the resource person, the personality of anybody is added to the overall value of the goods or services.
A NEW smile, witty presentation, on the spot analysis of the need and matching the product or service benefits to the need of the customer, a feel for the product and services enhances the significance of the product for the customer.
Online business has very little scope to provide value by physical presence either of the product or the person endorsing it. To make up for the personal charisma and interaction, online business content should be highly conversational, witty with personalized writing styles or audio/video to get a similar effect and results.
Technology as Value
Traditional business is able to receive the attention of the customer by projecting a vision of the technology as well as possibilities through personal contact. Even a moderate technical improvement is made additional visible to visiting customers
Online business is heavily dependent on technology. But technology contains the disadvantage of becoming a commodity as everyone catches up and the difference vanishes. Enhancing value through technology requires constant innovation to stay ahead in the pack. Technology as a commodity may be overcome only though a man face. You may have the ability through autoresponders to send thousands of emails instantly but few online businesses can write an intelligent, witty, one to one particular personalized communication to effectively leverage the autoresponder..
Knowledge as value
While internet is often a huge repository of knowledge and could act as the major tool pertaining to value enhancement, the volume of information or knowledge available can also turn into its major disadvantage. Everyone online knows that there is a huge volume of knowledge that one has to assimilate quickly. The person therefore scans the knowledge online mechanically and quickly, not comprehending fully the information he is scanning for the monitor screen.
Another disadvantage is knowledge cannot be applied selectively to the net customer. All knowledge can be made available online but it is the discretion in the customer to recognize, choose and use it for value enhancement. Therefore it is just a highly perishable commodity online achieving very fast obsolescence.
Offline business has the luxury of communicating knowledge and information in a form that is relevant. The availability and entry to knowledge, though limited, is used selectively and tailored to customer requirement.
Adjust and innovation as value
Change and innovation are better perceived offline in actual situations than online. Any innovation or change takes time and effort for the online businesses to reach to the customer in spite of technology as customers may choose not visit the web pages or emails may be filtered out.
A change from a staircase with an escalator, automatic doors, a facelift to a building or storefront, a better billing system are common far more appreciated than online innovations.
An online business has to constantly innovate regarding sticky online content to keep the customers coming back. The web content should be designed and written very intelligently to achieve the same impact as a fairly easy handshake in offline business.
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