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What are the top planning, budgeting and forecasting tips I need to know as I'm starting my e-commerce website?

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Question added by Abeer AlSayed , Senior Media Relations Officer , Jordan River Foundation
Date Posted: 2016/02/11
Rami Abbas
by Rami Abbas , Sales Manager , Al Houda Contracting and Real Estate Development

Here is some tips based on my previous experience:

  • SEO is your first priority.
  • Social media marketing is a must and give it a bit of extra budget.
  • Target the right audience for you trade.
  • Try to have a variety of payment methods for some countries like Egypt doesn't have too much people that trust the e-payment with visa and master. 
  • The Website design must be eye catching and easy to use.
  • There will be hidden costs with time the more users and traffic you have the more your expenses will be.
  • Always jump in the trend and use it to your advantage.
  • Forecast your sales based on numbers.

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

  • The core functions of the Planning module are:
  • Open-to-Buy
  • Seasonality Analysis
  • Forecasts
  • Web Store Budgets
  • KPI's
  • Event Annotation
  • Historical Comparisons
  • Benchmark Monitoring

Md Fazlur Rahman
by Md Fazlur Rahman , Procurement Specialist , Engineering and Planning Consultants Ltd

Ans:

The tips could be stated as follows:

1.     Please make an assessment of Industry Competition with respect to exiting firms in the business (suppliers), Potential entrants, the possible market, and substitutes. Through study of industry completion, please select a target market for your entry.

2.     Please try to have a cost leadership, product differentiation and strategic focus for the website you intent to make.

3.     Now make a realistic forecast of business volume  under2/3 scenarios in dollar terms taking risk factor into consideration

4.     Make a project plan in terms of project objective and activities. Make budgeting for each activity.

5.     Then make a benefit /cost analysis under2/3 scenarios and see the result. 

 

 

This is a generic discussion. You have to take into account the specific activities for your proposed e-commerce website

Gurjit Singh
by Gurjit Singh , Global Sales and Business Development Manager- Actively looking for change , Saudi Rubber Products Co.

I am agree with Mr. Vinod Jetley and Mr. Rami Abbas advice , Also Mr. Md. Fazlur Raman given valuables inputs.

Mahmoud Zaher Tarakji
by Mahmoud Zaher Tarakji , مدير , أوال جاليري

I agree with MR RAMI ABBAS

Ahmed Mohamed Ayesh Sarkhi
by Ahmed Mohamed Ayesh Sarkhi , Shared Services Supervisor , Saudi Musheera Co. Ltd.

training course

how many staff u need

tools ( internet plus pc )

designer

 

Deleted user
by Deleted user

You can find lost of studies on Google  

Deleted user
by Deleted user

I suggest that you read more about:

Contemporary issues in marketing.

 

Emad Mohammed said abdalla
by Emad Mohammed said abdalla , ERP & IT Software, operation general manager . , AL DOHA Company

I fully agree with the answers been added by EXPERTS...............Thanks.

TARIG BABIKER AL AMIN
by TARIG BABIKER AL AMIN , Head of Planning and Studies Unit , Sudanese Free Zones and Markets Co.

Thanks for invite , first you must know how to plann , how to thinl out of the box , finnancial principles and accounting , you need an advanced statistical skills

Zain ul Abdin
by Zain ul Abdin , Project Planning & Control Manager , Redco International Trading and Contracting

Please heed to the advice of Mr Rami Abbas.

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