I wonder what that VP of E-Commerce is thinking about....
- "The government is trying to bailout the financial services industry.
- Warren Buffett is trying to bailout Goldman Sachs.
- Is anyone going to bail me out?"
The answer is probably a big fat NO. If you are responsible for your company's website, what should you be doing in this tough economy?
- Be aggressive...and smart. In tough times the weak go away and the strong gain market share. Look at these tough times as an opportunity.
- Focus on what matters most...your customers. Satisfied customers will be more loyal, buy more and recommend you to others. And most important of all, the most satisfied customers, when faced with tough budget choices will stay with you.
- Measure what matters most...because you cannot manage what you cannot measure.
- Accuracy, precision, reliability and validity of your measurements is critical to success. Garbage in...garbage out, bad data will mislead you -- you are better off with no data then data that is not accurate, precise, reliable and valid.
- Resist the urge to be penny wise and pound foolish. While it is tough to do, try to keep a long term view of the challenge, not only focused on tomorrow's results. Also, when making investments in technology, services, etc., remember that quality and value outshine cost every time.
More to come...
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