COMMERCE-ENTREPRENEURSHIP-PROGRAM

1. E-COMMERCEENTREPRENEURSHIP PROGRAM Introduction What is online business entrepreneurship? E-commerceentrepreneurship is launching and running a company that sells goods or services online, usually via a website or e-commerce platform. Through e-commerce, business owners may reach a global market and sell to clients all over the world. Given that it usually takes a lower initial investment than traditional brick-and-mortar enterprises, it might be a more affordable method to launch a 1. Cyber & Data Secbusiness. Table of contenturity 2. Online Identity Verification 3. Attracting the Perfect Customer 4. Customer Experience 5. Customer Loyalty e-commerce entrepreneur challengesandsolutions 1.Cyber & Data Security When it comes to e-commerce, security breaches are one of the biggest challenges. There is a lot of information and data involved when dealing with e-commerce, and a technical issue with the data can significantly disrupt a retailer's day-to-day operations as well as brand image. Solution:

2. Be careful and always back up your data. That said, you can install security plugins on your website to protect it from hacking. There are many plugins available, choose the one that works best for your eCommerce website. 2.Online Identity Verification When a customer visits an e-commerce site, how does the customer know who they are? Accurate information for consumers. Customers really want e-commerce products. If you don’t have enough information or you don’t have the right information, how do you feel? So of course, it will be difficult The solution is to invest in online certification. Solution: There are various ways to integrate online identity verification. Some examples are biometrics, artificial intelligence, single sign-on, one-time passwords, two-factor authentication, etc. 3.Attracting the Perfect Customer These days, buyers have countless options. If they want to buy a handbag, they do thorough research before finalizing one. When buyers have so many options, how do you make sure they choose you? How do you find the perfect customer who wants your product, at your price and where can you ship? Solution: Partner with companies that help you target customers. Digital marketing is preferred over traditional marketing because they target your ideal customers.

3. Although it won't happen overnight, with A/B testing, refinement and analytics - your products can be shown to potential customers on various social media platforms. 4.Customer Experience Customer experience or user experience is the key to the success of an e-commerce website. Customers expect the same, if not the same, experience at a brick and mortar store. Web streaming, web segmentation and personalization of retail products based on buyer preferences are critical. Solution: There are many ways to improve user experience. The most important thing is to have a clean and simple website so that buyers can navigate easily. The next point would be to have clear calls to action (CTA) so the consumer knows exactly what to do. Here's a post that shows you 10 ways to improve your user experience. 5.Customer Loyalty Two statistics that highlight the value of client loyalty are as follows:(a) Acquiring new customers can be up to five times more expensive than keeping existing ones, and (b) selling to an existing client has a success rate of 60-70%, whereas selling to a new customer has a success rate of only 5-20%. The significance of client loyalty and retention is demonstrated by the two statistics mentioned above. Retailers must ensure that they retain a consumer for life once they have made a purchase or used a service. But how is this possible?

4. Solution: These are a few distinct approaches that can be employed to keep clients. The first would be to provide first-rate customer service. While a customer is delighted to have bought a fantastic product, they are overjoyed when the service is flawless. Next, follow up with the consumer using a medium of choice (email, SMS, blog postings, etc.); make sure to ascertain what is most effective for them. Lastly, since they have been such devoted clients, inform them about new items, special offers, and coupon codes.