By Mark Crisp
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Extra resources for 123 Trading Signal
Vital questions and answers 5 How might you use your site t o shield your business from potential competitive pressures? To ensure that maximum value is derived from the web site, it is essential that it is used to counter competitive pressures, whatever their source. Potential sources of competition include other firms in your industry selling comparable products; firms within your industry selling substitute products; firms in other industries selling substitute products; and possibly even entirely new industries that are enabled as a result of technological changes.
When developing content for pour web site, it is important that the needs of the target readership are clearly understood: what may work on one site in one environment may not translate a t all to another. In fact, in my experience it is never sufficient to take offline content (such as brochures) and reproduce this verbatim online. This is analogous to taking a radio presenter reading aloud and just filming him or her for TV. The content is the same, but the execution is now no longer appropriate to the medium.
So it is with e-commerce and online developments, and understanding the scope of its impact and integration with business activities are therefore vital. If senior managers do not feel comfortable with the application of online technology, or if they dismiss it, this can lead inexorably to avoidance, cynicism and delay. This, in turn, leaves the business highly vulnerable to attack from online competitors. The key to breaking o r preventing this cycle is therefore t o educate senior managers, ensuring that they understand where the financial, brand and market risks lie; what the impact of online developments might be; and where the potential benefits could arise (and how they might be achieved).