In the following are some findings by first-hand experience that I gained from recent advisory mandates related to E-Business, E-Finance, E-Commerce, amongst others in new technologies, Enterprise 2.0, User Experience (UX) and Usability.
1. A huge part of corporate websites, online business and e-shops is still not state-of-the-art as regards technologies and new developments. Now, many companies see accumulated demand for the first time.
2. “Responsive Design” is on its way and subject of discussion in almost every project, but at the end of the day the principle “mobile first” is often unattended (don’t even dream of Apps for iPhone, Android, etc.). The value of mobile devices is not seen yet. There ist not enough invested in mobile focused online software. That’s why there will be a big demand to meed mobile requirements and to adapt existing solutions in the future.
3. E-Business teams often do not get the attention within a company that is needed to success. Instead, higher value is seen in classical distribution channels. Most times, companies wait until competitors are more successful and absorb their customers.
4. E-Business is not seen as a critical success factor of companies. Hence, decline in sales is bound to occur until there is a commitment to an imperative for online distribution.
5. International companies most times forget to create a concept for global websites. That’s why coporate sites and shops may look different in each country and do not meet customer’s needs and corporate standards.
6. Companies, banks and manufacturers realize, that they have to provide user-centric interfaces to increase convertion. Users know user-centric interfaces form their iPhone and Web 2.0 standards. This makes UX-proofed websites, portal, apps and shops an obligation.
7. Social Media (SoMe) and Web 2.0 (and Enterprise 2.0 respectively) are often below radar level. In fact, “the average facebook user spends 75 minutes per day on facebook” (see this article on dailymail). Sometimes, companies are “not sure where the ROI is coming on social”, but there are “some interesting examples of entirely new businesses that are emerging on top of the social layer” (see this article on the blog of Brett King).
This list could go on and on…
The lesson is clear.
New trends and technologies like “Social Media” and “Responsive Design” leverage online business. User Experience (UX) is state-of-the-art by now. But, at the moment, the value of Web, E-Business and E-Commerce in general is still underestimated. This might be caused by the dot.com bubble and the depression that left behind a negative connotation. However, there are enough business models for startups to enter these niches and to absorb idle capital.
What will happen?
Nevertheless, the awareness for the new trends and technologie is growing, since there are a lot of successful online business models. But will classic companies be strong enough to adapt and manage this change?
Some companies are already in trouble because startups of e-entrepreneurs enter the market and competitors show how to adapt new technologies. That’s why the video rental stores, bank branches, retailers and photographers around the corner have closed their business recently. And that’s why classic distribution models decline at the moment.