100 GREAT BUSINESS IDEAS • 201Selling online is a fast, fl exible, and highly effective way to reach
customers and increase revenues. Online sales are growing at a
phenomenally fast rate—and yet the fi rst online sale occurred as
recently as 1994 in America. What are the lessons, and how can a
business increase online sales?
The idea
Meeting the challenges of selling online and integrating online
activities with the whole business is essential for success. Seven
basic principles characterize online selling:
- The balance of power is continuing to shift decisively to the
customer. - The internet is revolutionizing sales techniques and perceptions
of leading brands. - The pace of business activity and change has been accelerating,
and the need to be fl exible, adaptive, customer-focused, and
innovative is at a premium. - Competition is intensifying.
- Managing and leveraging knowledge is fundamental—
knowledge is a key strategic resource that needs to be captured,
nurtured, and developed. - Companies are transforming themselves into extended
enterprises to add value for customers. They are re-evaluating
factors as fundamental as objectives, markets, and skills.