The Internet and Your Business - Time to be Realistic

The truth is that some businesses should not be on the Net.

Many companies still believe that simply developing a site detailing "who we are and how to contact us" is sufficient to earn a return on the money spent setting up the site. This strategy would not work for your physical business, and it most certainly will not work in an online environment where customer loyalty fades fast and environmental variables are fluid and highly dynamic.

For these companies we would recommend that their money would be better spent elsewhere. The Net will realise minimal returns for them, if any.

To be successful online requires a significant investment from a company, not only in financial terms but also in human resources and time. If a company goes online, it needs to operate its presence as an integral part of its business, and that will demand ongoing investment and attention. An online presence cannot serve a company as an add-on or sideline service.

However, if you are serious about taking your business online, it can and will work for you. You will need to develop a strategy consistent with your business vision, set realistic objectives and manage it as you would a strategic business unit within your company.

Be prepared to spend considerable time defining your online strategy. Internet gurus recommend that 35% of the time spent on a project be spent strategising and scoping to ensure buy-in from all parties and to avoid costly mistakes.

When considering an Internet development, define clearly and realistically what you hope to achieve with an online presence.

Most importantly, attach metrics to your online development. These are vital in determining whether or not the online environment is working for your business. There are a number of measurement statistics and tools available, but as each business is different we recommend that you measure and observe your site for the first six months of its lifespan. Determine your own company benchmark from which to justify and base future developments.

The jury is still out on how to best measure a return on your investment. But bear in mind that an online presence does not always have to make money in order to be defined as successful. We have found that the most significant return on investment has been a measurable improvement in operating efficiencies delivering cost-effective savings.

Whether you are developing a fully-fledged e-commerce platform or simply looking to place a basic information site online, the same concepts apply. Take the time to plan and you will find the online medium an effective and efficient channel in assisting you meet your business objectives.