This is How to know the basic elements of e-commerce. The strategic e-commerce plan must be objective and succinct. In fact, this is to enable those involved with e-commerce in the company to read and monitor. Ensure you keep it within the limit of 10 to 15 pages. As a matter of fact, this post lets you understand How to know the basic elements of e-commerce business plan. In fact, the principle enumerated here is a general one that can be applied in any business start-up plans.
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The basic elements of this plan include:
1. Research & Design:
Furthermore, this section details your research and design methods for your plan.
- A brief description of the e-commerce project to be developed – not more than one page.
- Detailed presentation of the objectives to be achieved through the e-commerce operation. These could be for cost cutting, increasing the customer base, adapting to market demands, etc.
- Your Market analysis – Define your market audience. Then, describe the opportunities of the e-commerce market for your company. And prepare the profile of the targeted consumers.
- Competition analysis – indicate who your competitors are. Define their products and prices. Define those which use e-commerce and what are their characteristics.
2. Operation Strategies on How to know the basic elements of e-commerce business plan
As a matter of fact, your operational strategies matter a lot. So, here are what to do.
- Your Dissemination strategy – indicate the actions to be taken to publicize the site and attract traffic. So, indicate whether to use search engines, online advertising, etc.
- Define your pricing strategy – define your pricing and discount policy. Then, again, define the payment methods, such as bank transfer, credit card and etc.
- Sales strategy – This is where you explain how orders will be received and processed.
- Logistics/delivery strategy – Now, it’s time to indicate how the products will be physically delivered to the buyer.
- After-sales strategy – if your type of product or service sold requires after-sales service, explain how this service will be provided.
For your operational strategies to work well, you must have to press the button. Can you do that now?
3. Back-up Operations:
In addition, are your operational back-ups. Remember, without back-ups you loose trend.
- Technical aspects – Now, it’s time to describe all technical aspects involved relevant to the decision-making and monitoring of the plan.
- Establishment of evaluation criteria for your e-commerce operation. These could be number of visits per month, number of non-repeated visits, number of transactions generated, number of orders, etc.
- A Comprehensive Budget – you have to make a budget that covers the period of installation of the e-commerce operation, the start of operations and the normal start-up of the operation.
- Other necessary financial analysis – Essential ones include the cash flow projection, break-even analysis, projected income statement and ratio analysis etc.
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4. Recommendations on How to know the basic elements of e-commerce business plan
Finally, it’s recommended that the plan be reviewed periodically. This is because the dynamics of e-commerce is very large. So, it’s necessary to frequently re-evaluate what has been achieved in relation to the proposed objectives and the planned actions.
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Founder/Managing Partner of Complete Full Marks Comsultants Ltd. An Economist turned chattered accountant and Tax Practitioner with over 37 years of industrial experience.