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New has always been volatile

In spite of press hype to the contrary and the collapse of a number of badly
thought through internet enterprises, the New Economy is both new and
here to stay. Never has there been a greater opportunity for firms to pro-
vide their customers with superlative service at the lowest possible cost.
Never has there been a greater opportunity to become global without
major investment. With effective online marketing everybody is a winner.
My book, The Big Book of E-Commerce Answers develops the argument in
detail. It also provides the data to help you to answer most or all of the fol-
lowing questions. Meanwhile, please take my word for it, you should be
asking yourself:

n How do we make the most of this new opportunity to do global
business at minimum cost?

n How do we ensure that our e-commerce activity is a money
machine and not a “techies’ paradise”?

n How do we attract customers who want to buy our offerings rather
than “boy surfers”?

n How do we avoid paying for “clicks” that deliver no business?

n How do we keep abreast of the changing algorithms of the search
engines?

n How do we build the brand to the degree that the search engines
are irrelevant?

n How do we use our website to bind customers to us and increase
customer loyalty?

n How do we make and sell rather than sell and make?

n How do we use the internet to reduce our inventory costs?

n How do we use the internet to reduce our advertising costs?

n How do we use the internet to test offerings at virtually no cost?

n How do we get people to visit our website?

n How do we avoid the stupid costs of mass advertising?

n How do we get buyers to stay and buy?

n How do we get them to contact us and tell us their needs and
wants?

n How do we persuade them to give us permission to contact them
with further information?

n How do we use the internet to reach new markets at virtually no
cost?

n How do we exploit opportunities to develop online products and
services that cost almost nothing to provide, but bring in massive
revenues and profits?

164 Key management questions