When Bill Cosby did TV commercials for the financial services firm E.F. Hutton, the tag line was simple but telling: "Because ... it's my money." Not just a low price, but also customers' confidence that they won't regret the "bargain,**
When Bill Cosby did TV commercials for the financial services firm E.F. Hutton, the tag line was simple but telling: "Because ... its my money." Not just a low price, but also customers confidence that they wont regret the "bargain," are what it takes to turn e-tail shoppers into buyers.
With my recent consumer electronics purchase, I found myself disenchanted with local sources on two grounds. First, the salesclerks knew less about the product than I did. Warning to brick-and-mortar sellers: Buyers today know everything on the manufacturers Web site and more. Your personnel must match that knowledge or have it available on demand.
Second, the local stores didnt bother to stock obvious adjuncts like carrying cases, in contrast to well-designed Web sites such as www.thecameraclub. com that offered hyperlinked lists of typical accessories. Another B&M warning: The convenience of same-day gratification is drastically offset by the need to go on a scavenger hunt for the rest of the desired package.
When I went to the Web to shop, I was pleasantly surprised by the breadth and quality of neutral third-party data available at well-designed sites that eased product comparison. For example, no digital camera buyer could ask for more than the tools and info available at www.dpreview.com.
What shaped my final purchase decision were independent rating sites like www.resellerratings.com, with their ease of finding out what other would-be buyers have encountered from sources both offline and online. Three e-tailers lost their chance at a three-figure sale because I found too many unhappy comments by former buyers.
Hence, my final warning to every seller: Customers today can find one another, and compare notes, with ease. And its their money.
Peter Coffee is Director of Platform Research at salesforce.com, where he serves as a liaison with the developer community to define the opportunity and clarify developers' technical requirements on the company's evolving Apex Platform. Peter previously spent 18 years with eWEEK (formerly PC Week), the national news magazine of enterprise technology practice, where he reviewed software development tools and methods and wrote regular columns on emerging technologies and professional community issues.Before he began writing full-time in 1989, Peter spent eleven years in technical and management positions at Exxon and The Aerospace Corporation, including management of the latter company's first desktop computing planning team and applied research in applications of artificial intelligence techniques. He holds an engineering degree from MIT and an MBA from Pepperdine University, he has held teaching appointments in computer science, business analytics and information systems management at Pepperdine, UCLA, and Chapman College.