The critical success factor to any retail business whether it be on Main Street or the Digital Super-Highway is sales. The successful e-Retailer has sales that are within accepted levels of tolerance: too few sales and you will be starved of cash and credibility as a serious player; too many sales and you will hit major issues with respect to customer satisfaction and your brand image will suffer. Our role in supporting your business at New Wave Services is to help you operate within your tolerances and to expand those tolerances as and when appropriate.
In our experience, problems with Sales derive from the retailer becoming disconnected to the marketplace in which it is operating. Not knowing what your customer wants, or providing what they want at “too good a price” will quickly expose where your tolerance boundaries are set. Being connected to the market is much more difficult for an e-retailer as you do not have the contact with the customer that comes from the traditional retail sector. You cannot see the “whites of their eyes” only count what they did, or did not do, on your site.
As a New Wave Program participant, we will work with you to define the information that you need to know that you have the “pulse” of your market sector. Furthermore, we will conduct regular reviews of with you to make sure that your Sales Strategy is sound and in line with your capabilities. When you choose to push your boundaries further, we will provide interim support until you can build your own resources. Finally, you will have full access to the New Wave shared resources such as our support desk to help you with your challenges in this area.
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