Social media, SEO, marketing and writingThe Six Most Common Barriers to Developing An Effective Web Business Strategy
I was rummaging through some old files when I came across the following business article I co-wrote with Laurie Windham. At the time, Laurie was CEO of her own market research firm, Cognitiative and I was a senior e-business consultant working for her. I am pretty sure the article was published in an online magazine, circa 1999. I can’t for the life of me remember which one it was. A quick search on Google revealed no results. I thought I’d share the article as I know many up-in-coming writers are looking for examples of what a 300-350 word article might look like. This article is 334 words.
The Six Most Common Barriers to Developing An Effective Web Business Strategy
When it comes to leveraging the Web as a critical business vehicle, companies are realizing that the biggest obstacle to success is themselves. The challenge for executive management today is how to overcome internal resistance to the inevitability of the Web. Based on thousands of hours of Cognitiative’s “Voice of the Customer” research and studies we’ve conducted with a range of large companies, we’ve identified six common barriers business leaders face as they take on the challenge of defining and deploying a Web business strategy: 1) Knowledge of what customers want, 2) Existing business strategies and practices, 3) Leadership, organizational structures and funding models, 4) Existing skill sets, 5) Technology solutions, and 6) Internationalization.
Let’s probe the first two barriers a little deeper.
Knowledge of What Customers Want
Addressing the needs of online constituents in a fulfilling and differentiated way requires a deep understanding of them. We suggest approaching this as if you were developing a new product –– define your market requirements, survey the market and competitive landscape, talk to your target constituents; find out what business partners want; test the usability of the site experience; and track satisfaction. The key is to understand why people come to your Web site and what actions they take when they are there so that you can develop a proactive site strategy that satisfies their needs. And be aware––this process never really stops. Keep a constant pulse on your efforts because Web savvy customers are increasingly demanding.
Existing Business Strategies and Practices
Resolving conflict with existing business strategies is another critical barrier to doing business on the Internet. This can run the whole gamut from pricing, product development, logistics, channels, required investments, and how customers are served. An interesting exercise is to construct a hypothetical Web strategy for your market as if you were a start-up company. What would your business model be? Where would you invest? How might a competitor invade your space? Addressing these issues can help drive clarity on the required business strategy.
