"Can the World Wide Web add Value to your Business?" by Becky Barnett
 

Have you been thinking about developing a Home page or Web site for profit? It is no surprise when much we read almost everyday information such as the following about the World Wide Web (WWW).

The December 16, 1997 edition of the "Wall Street Journal" reports "fifty-eight million adults in the United States and Canada are now online, and 10 million of them have purchased something online in the last six months." International Data Corp (IDC) predicts "spending on the Internet will jump from $ 2.6 million in 1996 to more than $ 200 billion during 2001." "The Internet is shifting from primarily business-to-business product sales to an increasing number of consumer product sales." (Please note: All underlined sentences in this article indicate World Wide Web hyperlinks which can be accessed through an online version of this article at the Web address listed at the end of the article.).

I have been developing online and Internet services since 1986. Although I am delighted with the growth, the power, and the potential of the Internet, I am also concerned when I talk to individuals and companies who have adopted the "Field of Dreams" approach to Web sites - "Build it and they will come." Unlike the movie, I can promise this simply will not happen.

I believe the Internet provides a tremendous opportunity for many companies and organizations. With a well-designed Web site, you can generate additional customer interest, develop strong relationships with your customers, and help them select from your products or services.

I have found most companies get more for their advertising dollars The cost of producing and maintaining a Web site is usually very low in comparison to traditional broadcast media such as print, radio, and television.

However, there is no free ride. This is the first of a series of articles to help you decide if the Internet is for you or your organization - before you make the leap. If you then decide the Internet is for you, I will be detailing the steps essential to achieving 'Net success.

In this series, I will be providing information on understanding the Internet, selecting an Information Service Provider, strategies for creating and promoting a powerful and profitable Web site, capitalizing on the Web's differentiating media quality - interactivity, and exploring ways to attract potential customers or constituents to your site. At the end of the series, I plan to have provided you with all the information to not only decide if a Web site is for you, but to also have detailed all essential elements for a successful Web site.

So, let's get started. Before you make the leap to the Web there are two fundamental questions you need to ask. The first is "Can the Web improve my business?" the second is "Can I harness the technological and marketing resources that it would take to make a success of my Web site?

I have deliberately placed these questions in this order. You might, for example, have the technology and marketing savvy to create and deliver a very slick Web site, but without a clear set of business goals, your site will probably yield minimal returns.

What can a Web site accomplish for your business? Some of the most obvious answers are generating new revenues, reducing expenses, and enhancing your customers' satisfaction.

The Web can generate new revenues for your company in many different ways. Product andService sales account for 85 percent of all Web site revenues.

The Web can provide new customers for your products and services. It can expand your geographical reach. In my previous job as Webmaster for a small software company, over a third of the leads generated from the Internet were International leads.

Today, however, generating new revenues is not a given. Although 27% of consumers have Internet access, 73% do not. Businesses that are quick to establish themselves on the web can still benefit, but be realistic; Web development is a long-term business development move. Don't expect a windfall overnight.

The Web can also reduce expenses. If your product is "deliverable" via the web (for example, software, anything in print, research services, etc.), then you have the opportunity to dramatically reduce the cost of fulfillment, distribution, and even production. Another way to cut costs is by using a web site to improve your internal business processes. Do you need to communicate with a far-flung sales force? Are you looking for ways to improve document management and workflow? What about project management and tracking? Solutions to these later objectives would fall under the category of "Intranet" applications.

A Web site can enhance customer relationships. The most successful business web sites arethe ones thinking of the customer first. By providing detailed and up-to-date information on your products and services, you can help to create "self-educated" buyers - after all, a self-educated buyer is a happier buyer.

Your online customer service can be as simple as providing a method for your current customers to communicate with you more directly and efficiently. If you're constantly answering the same ten questions about your product, an online fact sheet with answers to those ten questions can dramatically improve customer relations-while freeing up lots of your time and resources. On the other end of the spectrum, customer service can be quite sophisticated, including online customer account information and specialized services for frequent visitors or members. Regardless of its complexity, good online customer service is likely to drive new business your way.

Another side benefit of an information-rich web site is that it improves your ability to target and "qualify" prospects. The Web, after all, is the domain of self-directed consumers. So it follows that contacts flowing to you from your web site-either through e-mail or telephone queries-are golden. They are sales waiting to happen.

So you ask, "Where do I go from here?"

Ah... but that is the subject of next month's article! Until then, I wish you happy surfing and 'Net success!

Back to articles index.