Improving the Web Experience through Real-Time Analysis (A Market Basket Approach)

Improving the Web Experience through Real-Time Analysis (A Market Basket Approach)

Stephan Kudyba (Economic Consultant, USA) and Richard Hoptroff (Consultant, The Netherlands)
Copyright: © 2001 |Pages: 13
DOI: 10.4018/978-1-930708-03-7.ch007
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Abstract

The previous chapter introduced the evolution of the information economy as it addressed the progress of commerce from “brick and mortar” to “click and mortar” corporate initiatives. The key to the success of this process lies in the management of data by transforming it into usable information and applying appropriate business strategy. This chapter provides a natural extension to this topic as it describes the process by which organizations can achieve success on the Internet through the use of data, technology and sound management tactics. E-commerce vendors face two important challenges: driving up purchases and maintaining customer loyalty. However, only 2.7 percent of browsers buy from any given Web site and only 15 percent of those buyers return to buy again (Forrester Research, Inc.). To succeed, e-marketers must find ways to keep visitors on their sites. They must make the visitors’ experience convenient, satisfying and personally relevant. Above all, they must entice Web visitors to come back for more.

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