DataStream
League City, Texas 8/20/00
As Printed in "Momentum"
M R Keeney, Information Technology Solutions

IS YOUR COMPANY A PART
OF THE DIGITAL ECONOMY?

Most companies understand the need for a website. Many, perhaps yours, have met the initial challenge and began participating in the "Digital Economy" by developing a Home Page. The question is how successful are you in integrating this valuable tool into your overall business and marketing strategy? Have you seen the expected returns? Just as your business plans change to meet the market forces, so must your website. It is important to understand that website development and management is taking an increasingly larger amount of time. Rachelle Saitta, Area Manager of Office Team, states in Workplace 2005, a new position, INTERNET STRATEGIST, will be required in most companies.

The advantages of having a website are many. These include more flexibility to marketing and defining new products and services, providing additional customer service support, and implementing new business processes. Think of your website as your own private newspaper that is circulated around the world. If you have an event that prompts you to issue a press release, it's a great time to update your website. Have you ever seen one of those magnetic signs that says "SEASONS GREETINGS" in the middle of June? Don't let your site get stale. Give your existing customer base a reason to continuously visit your site.

Another potential bonus of having a website is using it as a stopgap measure for handling your business processes. For example, do customers complain about how long it takes for the credit application process with your company? An online credit application can eliminate some of the time and errors involved in the "Line of Credit" process.

This may not be viable for your company, but think about how you can integrate your website with your business processes. The returns can be significant. How much risk are you willing to take? You may become a market leader in the "Digital Economy" if you take the right ones.

With 1000 of sites being launched everyday, it is almost impossible to be guaranteed a top-ranking site on all the search engines. Just because your site was in the top 30 last week doesn't mean that it is in the top 100 today. Have you checked your ranking lately? Have you checked your competitor's ranking? If your company is specialized or your industry utilizes a specific resource (Thomas Registry in print and online) or Magellan (The Scientific Search Engine), you should consider a listing. Most of the time fewer sites are registered with these search engines. Furthermore, you are one step closer to the sale because the target market can see your company.

We all know that "word-of-mouth" advertising is the best. If you provide a valuable informational resource, even those without a need for your company's products/services will visit your site. What good is this? You are building a community of users. If you make their life easier, they will tell their friends. The more traffic, the more sales. The great thing about the Digital Economy is that it's still in its infancy. If your company is dynamic enough, your company can become the market leader or even establish a "new market".