Browse Tag by Internet Entrepreneur
Marketing

The Top 5 eCommerce Internet Startup Mistakes

eCommerce startups are very popular on the internet. This is because people are quickly finding that buying stuff online is much more time-efficient and cost-efficient. Internet entrepreneurs understand this fact and all want to milk this opportunity. Hence, we see so many eCommerce startups mushrooming daily on the net.

In this post I discuss the top 5 eCommerce startup mistakes made by entrepreneurs:

Ignoring Online Trust Issues:

It is very difficult for an online consumer to trust a new eCommerce site. Right from doubts about th quality of the product to the pricing, they are very insecure. One of the reasons why eBay and Amazon are on a roll is that they have already established a huge degree of trust with their customers. So when you have an eCommerce site you need to be able to build on the trust. This can happen by getting featured on good websites or blogs. Other steps include a well-updated Privacy policy and other user agreements before the registration of a potential user.

Focusing on web development and neglecting marketing:

This is another very amateur mistake made by first-time internet entrepreneurs. They get so obsessed on making their eCommerce website aesthetic and conversion-oriented, they forget a basic thing – how will people find you? It is just so typical of few entrepreneurs to blow their budget on web development that they are left with nothing for their marketing efforts. Usually, a wise entrepreneur understands that he will need to spend more on marketing than he would do on developing the website. There is no point having a high-conversion website when no one is coming over to actually get converted. It is food for thought – chew on it.

Not Optimizing Your Web Analytics:

For whatever reason, either because some don’t understand web analytics or because they find it time consuming, web analytics of a business website is ignored. Get this one fact straight – your analytics are a treasure trove of intelligence data about your visitors and how visitors behave on your website. Nothing matches Google Analytics, so make sure you take a look and interpret all the data stored in your analytics dashboard. You don’t need to hire a special guy to interpret all the data for you – it literally is child’s play. Just give yourself some time with it.

Forgetting online visitors are not as committed as real visitors:

It is easier for brick and mortar businesses to sell (as compared to online stores). The main reason behind is that online visitors will never be as committed to buying something when browsing websites. Whereas, a person who has drove all the way from his home to your shop will have a much more higher chance of buying something from you.

So what does this mean? Well, it means that even small details will hugely affect your online store performance. Also, there are millions of other eCommerce website options which are just a few clicks away. This is a very tricky situation for any eCommerce startup.

Complicated Payment Gateways:

So many times when I have brought stuff online, the only step that remains is to pay. Then opens a complicated checkout/ payment gateway – if anything I start to get worried about where my money is going. Sometimes I am just unable to figure out how to go about the payment gateway because they look fishy as well as are totally non-intuitive (a very bad combination). Moral of the story– you will lose customers you had by the balls if your payment gateway sucks! Make checking out smooth and easy, even if it means investing that extra bit, because that is what will keep your customers returning to your online store.

That’s all for now folks! Let me know your suggestions on mistakes made by eCommerce startups.

Marketing

Why Should Internet Entrepreneurs Sponsor A Contest?

Many bloggers have started creating a lot of blog contest that offer cash money or prize kits to their components. This is a gold mine for internet entrepreneurs to maximize their branding potential of their blog or company.

Here are few reasons why you as an internet entrepreneur should sponsor a contest:

Links To Your Blog

Links are SEO fuel. When you sponsor a contest it begins with a direct link to you blog or website. And most bloggers would ensure that your link also appears on all their high PageRank  social media profiles.

Create Relations

To host a successful contest with you as a sponsor would require you to work in close tandem with your contest host. This will help you interact and build relationships with the host. It can prove to be an invaluable support for you in the future.

Viral-Effect

Contests have an amazing viraling capability. Many bloggers will relay the information to their blogging circle and so on. If you are offering a product/service/cash prize then it will catch on with the crowd. And we all know that word-of-mouth publicity is the best form of publicity that exists.

Branding

This is among the biggest advantages that you can gain as an internet entrepreneur. On the internet where there are millions of blogs that are fighting for attention, branding is one way that will help you sky rocket your company or blog to the top.

Traffic to your company website is another factor, but I am  not going to include it as a point since its pretty obvious. Let me end with this statement from a fellow blogger,

When I launched my own blog, I wanted to start with a contest but I knew I’d never get any traffic. Conveniently, Problogger was running his birthday giveaway at the time and I sponsored that instead. Crazy traffic! Really, if what you’re offering is of any kind of value, sponsoring a contest can do amazing things for your traffic and your readership.

Naomi Dunford (ittybiz.com)

If you happen to be convinced by what I have stated above or have been searching to sponsor a contest at a popular blog. There is a great contest going over at one of the most high-traffic blogs -ScopeForMoney.com. Here is the link to the post that calls for sponsors:  SFM looking for Sponsors.

Marketing

Facebook Movie: A Poor Tribute To Mark Zuckerberg

The Social Network is dubbed as the “Facebook” movie is a film about the finding of Facebook and about its smug founder Mark Zuckerberg. The movie charts the history of the website from its launch by Mark Zuckerberg and his best friend at Harvard University. It goes on to track the legal battle between Zuckerberg and his friend and three other fellow students at Harvard who claim he stole their idea.

Promo: The Social Network

The movie is a poor contribution to the man who has changed the rules of social media, The Social Network ends off by giving viewers a totally wrong impression about the real Mark Zuckerberg. This movie begins with Mark Zuckerberg’s girlfriend dumping him which creates a devious, sex-obsessed, desperate-for-the-attention-of-a-woman guy and thereon goes to find Facebook. While in fact, he had a girlfriend during the whole time.

With the The Social Network, internet entrepreneur Mark Zuckerberg gets the Hollywood treatment, where reality and fiction blurs lines. In the movie, Zuckerberg is portrayed as a socially-awkward, insecure and an ego-maniac. This may have come from the smug image that he maintains.

David Kirkpatrick the author of “The Facebook Effect: The Inside Story of the Company That Is Connecting the World” claims the movie is only 40% true,

“Zuckerberg is unbelievably confident and secure. And he is not snide and sarcastic in a cruel way, the way Zuckerberg is played in the movie,” he says.

The Social Network has already grossed $23 million in its opening weekend.

Related Post: Top 7 Movie Every Entrepreneur Must Watch

Although agreed, he is a geek, with the founding of Facebook, Zuckerberg has clearly proved that he has a much better understanding of the social dynamics in colleges and schools than anyone else out there. Hollywood has no obligation to portray the truth about a person, however, it is important we all know that Mark Zuckerberg is actually a remarkably successful, ambitious human being, and one that I think all of us could probably learn a little from.

Related Post: Love or Hate Mark Zuckerberg, Facebook Is Here To Stay