Introduction
The internet has become a key element for modern-day businesses in regards to reaching customers, promoting products, and optimizing profits. An analysis of the benefits and costs of using websites such as Alibaba.com illustrates the relevant considerations for new companies in opening and developing an export plan.
Benefits and Cost of Using Sites like Alibaba.com
Advice to New Companies
Using websites such as Alibaba.com gives new companies a platform to compete on the global scene and generate huge profits that would otherwise be unattainable via the traditional approaches of doing business. New companies should use the World Wide Web to gain a level playing field to compete with other established companies in the same line of business. New companies should invest in systems and tools that enhance the security of their payment gateways. New companies should prioritize the most trusted payment systems such as PayPal and MasterCard to enhance clients’ confidence in dealing with the companies.
Clients are hesitant to use unknown payment methods and are likely to desist from dealing with businesspersons using such methods. New companies should address the challenge of impersonal correspondence with clients by investing in customer support personnel who can address clients’ concerns in the most satisfactory manner. Investing in systems such as Live Chat, VoIP, and dedicated telephone lines are crucial to new companies in ensuring the personalization of feedback when addressing clients’ concerns (Daniels, Radebaugh, & Sullivan, 2012). Money-back guarantee policies on undelivered products or products mismatching the client’s description are essential to the enhancement of a new company’s reputation and reliability. New companies need to evaluate the costs of using distributors or selling their products directly to consumers before entering the export market.
Reference
Daniels, J. D., Radebaugh, L. H., & Sullivan, D. (2012). International business: environments and operations (14th ed.). New York: Pearson Education.