Trading Models have been around for centuries and now we talk about internet business models. The business model is essentially the way a business goes about doing their work and make profits. They have around since time immemorial. Some models can be very simple; you manufacture the goods and sell them to the end customer. Others can be a combination of a number of models and quite complex. So what makes internet business models so different among them?
A trade model for online business
This approach may not always very different from offline business. People have come to realize that some of the age-old tested and tested models are very much successful online as well. However, there may be a difference in applying them to the business though. That is because the audience is very different; and so are the products. An online medium does not allow the buyers to touch and feel the product; all it has is a feature write-up. So what can lead a buyer to trust the write-up?
Internet business models are all about trust. A businessman needs to really work hard to win that trust from its customers. One of the best and easiest ways to build trust is to provide 100% satisfaction guarantee by means of return-back and refunds policy to protect the customers. How it works is that the customer can return or change the product if he does not like it after using it, and also the customer can ask for a partial or full refund. Another one is pay on delivery; so a business man is telling its customers not to pay online but pay only after the customer has received the product or service and is fully satisfied with it.
How to win customers confidence
There are a number of ways to win the confidence of the customers. A good business pattern capitalizes on this and ensures that their customers never feel cheated. That is the key to receive repeat orders and more fan following. Word of mouth publicity is very effective, also known as viral advertisement. At the same time one angry or unhappy customer can create a lot of negative energy and ensure that a number of customers go away. Now that's not what you would want to do to your business.
So if you are serious about your online business then you really need to work carefully on choosing the right model from the various internet business models around there. A good model can really make your business successful while a bad one will not allow you to even kick it off. And you will never ever come to know why you are not successful.
