Going Online is Different
Starting a new business or overhauling an existing one is always a challenge, but this becomes even more difficult when businesses go online. People quickly discover that the online world is different, controlled by rules and forces that are not the same as those they have been used to in the physical world.
The online world is transforming all walks of life for many reasons:
Markets are Different Online
While the online marketplace may seem attractive with millions of potential customers around the world, your competitors have the same opportunity, and they can spring up overnight from the far side of the world. The online market is a chaotic, disruptive place where changes occur faster, farther and with more impact. But don't forget that these new markets also provide new opportunities to create customer value and reach wider audiences.
Technology Drives the Online World
Technology seems to never stop changing, and this drives the online world as new products and services appear, making older ones obsolete. Better hardware, faster software and new technologies keep the online world in a constant state of flux. both you and your competitors will be affected by this, often in different ways. This underlying technology also means that when it breaks down, the results can reach far and wide.
Customers Behave Differently Online
Your customers will behave differently when they approach you online. they will expect things offered to them just the way they want them, and delivered by tomorrow. While more demanding, online customers are also willing to engage in conversations with companies that delight or infuriate them. Social media is at the heart of this exchange and is fast becoming a standard business tool.