E-commerce

E-commerce

Main article: E-commerce

E-commerce (short for "electronic commerce") is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply in chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction's life cycle, although it may also use other technologies such as e-mail.

Customer Relationship Management in e-business

Customer Relationship Management (CRM) is the strategy that is used to build relationships and interactions with customers and potential/future customers. CRM provides better customer service, allowing companies to analyze their past, current and future customers on a variety of levels. It is one of the elements which is essential for any business, including e-commerce because it allows companies to grow and succeed. It cannot be done without technology. It is the formation of bonds between customers and the company. CRM impacts e-commerce sites by becoming an essential part of business successes. Interactively collecting and considering customer data helps to build a company's e-CRM capability, which then leads to the company's corporate success. The goal of CRM is to establish a profitable, long-term 1-1 relationship with customers, by understanding their needs and expectations. This strategy is using 2 different approaches: software applications and software as a service.

E-commerce CRM (e-CRM) primarily focuses on customer experiences and sales that are conducted online. Most e- CRM software has the ability to analyze customer information, sales patterns, record and store data, and website's metrics, for example:

• Conversion rates
• Customer click-through rate
• E-mail subscription opt-ins
• Which products customers are interested in

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