1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com | Telephone 973-539-5255 | Fax 973-539-5711 Web Strategies: What Executives Must Know To Remain Competitive Presented by: Len Muscarella DMD New York Conference & Expo May 25, 2004
1719 Route 10, Parsippany, NJ 07054 | | Telephone 973-539-5255 | Fax 973-539-5711 Web Strategies: What Executives Must Know To Remain
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Web Strategies: What
Executives Must Know To Remain Competitive Presented by: Len
Muscarella DMD New York Conference & Expo May 25, 2004
Slide 2
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Len Muscarella brief bio
Online career began in 1982 in CBS-AT&T test market First
managing editor at Prodigy New media consultant to Fortune 1000 in
the years leading up to the Web Author of book called
NetSuccess
Slide 3
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 NetSuccess Published in
1999 Forward by Steve Case of AOL Nearly 25,000 in circulation
Wisdom of 24 leaders in the online world
Slide 4
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 How has the Internet
economy changed since NetSuccess? 1999 2004 Broadband HH 0% Retail
Sales $20 billion $65 billion (projected) Internet HH 30 %>75%
35%
Slide 5
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 How hasnt the Internet
economy changed since NetSuccess? 1.Business innovations are more
important than technology innovation 2.Network effect remains the
single most important competitive advantage 3.User Experience is
imperative 4.Customer Service is crucial 5.Tracking, measuring, and
analyzing to improve is critical
Slide 6
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Business innovation is
more important than technology innovation Selection Price
Convenience Location Efficiency Service Markets Flash Java XML MPEG
SOAP Etc vs.
Slide 7
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Why is technology
innovation less important than business innovation? In consumer
sites, adoption lag often means that newest technologies reach
smaller audiences Newest technologies are most likely to present
problems or issues The impression left with the customer needs to
be paramount, whether they be early adopters or laggards
Network effect defined The phenomenon whereby a service becomes
more valuable as more people use it, thereby encouraging
ever-increasing numbers of adopters. Examples: eBay, eLance.com,
monster.com, many others
Slide 11
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Network effect impact
Responsible for some of the worst dot-com boom behavior the search
for first-mover advantage Natural barrier to entry But NOT
insurmountable
Slide 12
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Network effect how to
counteract? Refining the definition of audience to slice off a
market from a larger rival Improving the user experience Driving
greater value Using viral marketing, traditional advertising, and
Web promotion to create own customer network
Why Web customer service Builds relationships Increases loyalty
Provides competitive advantage Meets expectations
Slide 17
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Customer Service value
continuum Auto-response e-mail FAQs Online discussion groups Online
libraries and technical specs 3 rd party system integrations (ie,
FedEx) Personal response e-mail Individual account information
Personalized Web pages Auto-notification services Value Low Cost
Low High
Slide 18
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 Customer Service
imperatives Integrate Web and traditional sales (brick &
mortar, direct mail) information to provide customer with complete
information Use the Web to create long-term productivity gains to
provide a kicker benefit Make self-service easy enough, and you
wont have to support gimmicks like Customer Service chat
User experience It keeps users coming back It encourages users
to tell their friends about it (viral marketing) It facilitates
what you want users to do (purchase, sign up, register, view
information, click-on advertising, etc.) It yields the volume of
transactions that generates ROI in productivity and efficiency
Slide 23
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 User experience Know your
user Know your users needs (and the behavior you want to enable)
Offer appropriate solutions Perform customer testing Focus on
usability Create a compelling look and feel on all levels of the
site Develop and maintain a consistent navigation Keep it
fresh
Track, measure, analyze -- to improve Who is the user? Where
did she come from? What did she see? What actions did she take?
What is her behavior over the any period of time? How do these
statistics compare: With the competition? With my brick-and-mortar
experience? With other measures?
Slide 30
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 At WebTrends Seminars
they call this RADAR Report Analyze Decide Act React
1719 Route 10, Parsippany, NJ 07054 | www.imediainc.com |
Telephone 973-539-5255 | Fax 973-539-5711 The important principles
dont change 1.Business innovations are more important than
technology innovation 2.Network effect remains the single most
important competitive advantage 3.User Experience is imperative
4.Customer Service is crucial 5.Tracking, measuring, and analyzing
to improve is critical