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10 E-Business Proverbs for 2006, Part 2

Posted By Bryan Eisenberg On February 3, 2006 @ 2:17 pm In ROI Marketing,e-commerce | No Comments

My last column [1] shared the first 5 of 10 e-business proverbs from Sam Decker, former e-commerce and customer-centricity leader at Dell. Today, the second five.

  • Choose your results. Choosing a result means you publicly stake a flag in the ground to achieving a forecast goal. The forecast is what I call a “results rabbit”: once people commit to a result, they go after it like a greyhound chasing a rabbit.

    To achieve e-business results, decide what results you’ll achieve on a daily, weekly, and quarterly basis. Forecast key metrics in your online business: online revenue, margin, visit, conversion, average order value, and so on. Assign ownership to these measurements and report (red, yellow, green) progress against your forecast. Set stretch goals. All will work to achieve a goal, but they must know what it is, how they’re responsible, and where they stand.

  • Compete with something. Forecasts and reporting align everyone with the goals. For fun and motivation, add competition to the mix. Of course, you compete with competitors, but you can also have healthy internal competition (fun). I used to divide up my team. We’d do A/B split tests, and whichever sub-team came up with the best merchandising idea got a monetary reward. The reward was nominal, but the competition was everything. Add this dynamic to your operations. It makes it fun to win.

  • Continue reading my column at ClickZ…

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    URL to article: http://www.grokdotcom.com/2006/02/03/10-e-business-proverbs-for-2006-part-2/

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    [1] last column: http://www.clickz.com/experts/crm/traffic/article.php/3578346

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