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The Digital Business Kit for Retailers


Learning Outcomes

Retailers will identify the eBusiness strategies that are relevant to their business.[printfriendly]

mod-arrow What is eBusiness?

The NRA Digital Business Kit – “Connecting Retail” is a series of 10 modules which overviews a number of eSolutions. See the drop-downs below for quick reference in regard to each eSolution module and how it can be a benefit to your business.

 

The importance of each eSolution will vary based on your unique operation.

 

Why use eBusiness?

Use factors like:

  1. Frequency
    How often does it happen? If it is high volume it may have high benefit if automated.
  2. Simplicity
    If it is simple to convert to an eSolution it will often have a higher return on investment.
  3. Support of sale action or bottom line
    Is this a high value item? Does it cost a lot for a person to do? Does it result in a revenue sale?

We have suggested importance based on general retail industry standards. However you should also go through this exercise to determine where the greatest eBusiness solution benefits lie.

 

 

Importance/Relevance

Very relevant – Retailers cannot afford to not be online.

1. eMarketing

What is eMarketing?
Expanding on current activities can mean transferring hardcopy marketing into online marketing such as websites, newsletters, online ads, and more. These methods have many benefits including broader reach, higher levels of engagement, and the ability to track response rates and increase your business intelligence.

Do you need eMarketing and why?
Most companies and product types will benefit from some form of eMarketing. It is strongly suggested that any business look at the eMarketing module.

Importance/Relevance
High Priority

2. Security
What is Security?
Any eBusiness should involve consideration to security. This will be an inherent part of some of the third-party solutions if you choose something like a CRM or a file sharing service like Dropbox. However, it is also very important to manage staff and operational policy around security as that is where many of the breaches occur.

Do you need Security and why?
If you and your business are online, you need online security, you have no option. Considering eBusiness security is a very important topic.

Importance/Relevance
Very Important/Very relevant

3. Cloud
What is the Cloud?
Allowing access to your data anywhere, anytime providing for improved business intelligence, reduced administration time and many other factors that will improve quality while reducing cost for your business.

Remember, the Cloud is an environment not a platform. You need to be online and log into it.

Do you need the Cloud and why?
If you/your staff/vendors/partners are accessing a variety of information at the same time, and require sharing of files, documents, client information, inventory access and you are currently faxing/emailing to provide updates, get on the Cloud.

Importance/Relevance
Important / generally relevant

4. Selling Online
What is Selling Online?
The transition to selling online has a number of motivations and benefits which can include access to a larger market, better service to a local market, increase product offerings as well as more effective process-of-sale from client engagement to product delivery.

Selling Online and why?
Your company may already have a product which can be sold online or your company may want to consider adding new products that are effective to sell online. It is a way to expand sales, increase efficiency and improve overall bottom-line.

Importance/Relevance
Important / generally relevant

5. Customer Support
What is Customer Support?
Customer service can be impacted by doing business online from the beginning of customer engagement to maintaining ongoing customer relations using such tools as customer relationship management systems, social media, common software service platforms, online communications and more.

Why increase your Customer Support?
If customer service is a high-value priority within your organisation, it is recommended that you review the process and plan to implement your solutions for customer service.

Importance/Relevance
Varied – A basic customer relations system is important, however marketing/sales may be more important.

6. Business Intelligence
What is Business Intelligence?
One of the key benefits of transitioning to doing eBusiness is your ability to access business intelligence. This means the data that is being produced by your eSolutions. For example:  How many sales are being done?,  What products are popular?,  What inventory needs to be reordered?,  What marketing is engaging the right customers?Why use Business Intelligence?
What aspects of your business operations are most relevant to your profit and ability to make decisions that affect profits.  Determining those i.e. inventory, sales, cost of goods etc. will help drive what business intelligence data is most important for you to collect.Importance/Relevance
Important / generally relevant

8. Rich Media
What is Rich Media?
Rich media is the buzz word at the moment, it contains images or videos on the web that requires some sort of interaction.Why use Rich Media?
Rich media is the secret sauce on a website. It grabs people’s attention, gets them involved with your product or store, by interacting with the content on the screen. For example:   Changing the colour of the dress to blue when interacting on the website.Importance/Relevance
Generally relevant

9. Telework
What is Telework?
Telework is work completed in an environment other than the employer workplace.Why use Telework?
Multiple reasons including growth, improved employee retention, workplace flexibility, operating cost reduction, access skilled expertise, to name a few.Importance/Relevance
Relevant – allows you to upscale, look for expertise, growth.