To make it in the Ecommerce game there are a lot of details to stay on top of. I like to think of these details as your assets. Each asset needs to be tracked and cared for. Here is a list of some of the top assets you need to manage:
Your Website. If you are in the Ecommerce biz, it goes without saying that you have a website. Hopefully you have a CMS (Content Management System) for updating your website info, products, and pricing. If not, you better start looking around since being able to actively manage your own website is of paramount importance for running a successful Ecommerce business.
Advertising Spend. If you are doing any type of paid advertising, make sure you have some automated reporting set up so you can stay on top of your advertising spending as well as your Return on Ad Spend. Letting a paid advertising campaign run on cruise control can cause you to burn through a lot of money. So be sure to either track your own campaigns or work with a pro to do the analysis for you.
Domains. Time and again we see site-owners let their domains lapse. Why? Because they have changed their email accounts and never updated their domain registration account. When the renewal notice goes out, they never see it. Be sure to work with a reputable registrar and keep your domain records up-to-date. If you have multiple domains consolidate them with one registrar and do a yearly review of your registrations.
Passwords. I just wrote a post a few days ago on selecting good passwords. As an extension of that discussion you need to put a system in place for managing all your passwords. If you are going full-tilt with Ecommerce, you could easily have a dozen username/password combos to manage. Our quick recommendations: come up with a password creation system and create a list that includes accounts, usernames, and password hints. Don’t keep an easily accessible list of all your usernames and passwords in one place. Such a list represents a significant security vulnerability for your business.
Customer database. There is a strong correlation between your ability to build long term relationships with your customers and your success in the Ecommerce world. Each online order should go into a database that you can utilize later for follow-up offers and customer connections. Equally important is a list of contacts who might not have purchased from you in the past but have expressed an interest in your business or products. If you engage in email marketing, be sure to use industry-accepted practices. You do not want to send emails to customers who don’t want to receive them and you should give your customers the option to opt into your email promotions.
Links. Your success in obtaining top placement in the major search engines relies, in part, on the links coming into your site. It is your job to encourage links, request them, and do your best to ensure that links coming into your site use link text related to your keyword phrases.
Reputation. In an increasingly social world, more and more customers and associates will have something to say about your business in a range of online venues. Perhaps people will be talking about you on Facebook, private blogs, or review sites like Yelp.com. You want to be in-the-know about what is being said about you and respond when appropriate.
You very well may have other assets that are important to your online business. By putting systems in place to manage all your assets you will be in an excellent position to grow a healthy ecommerce business.
