Wall Street Journal(WSJ) reported that alibaba.com CEO has resigned after an internal investigation found that more than 2,300 sellers registered on their site committed fraud, sometimes with the help of Alibaba sales staff.
B2B portals especially those who offer a marketplace to the buyers and sellers have always been susceptible to such malpractices, however, for the first time the internal staff of such a reputed portal has ever been caught involved.
Reports says that the company insists that the CEOs were not involved though they resigned in the wake of moral responsibility however the rumours of a different nature are going around the corners amidst the storm.
As more and more buyers and sellers are using b2b marketplace as their preferred way to carry out their business, the possibility of a repeat of such an instance can't be ruled out. Industry analysts say as the number of transaction increases it becomes virtually impossible to track each and every of them, which leaves a certain room for error. However, what is pertinent for any company is that none of their employees should ever be involved in such a set-up, otherwise, their entire credibility goes for a toss.
B2B portal offer a wide array of services to the buyers and extra efforts are made to instil their confidence into dealing with the sellers listed. However, when the holy grail of trust is broken that's when things begin to go helter-skelter within the industry.
Analysts insist that the volume of the fraud occurred was insignificant, however, the counter action taken to rectify it was huge. Skeptics wonder if the CEOs resigned to show that company will go to any length to bring back the confidence of the buyers or if there was something more to it. Something we will never ever be able to know, something which hints towards the beginning of the end of the alibaba's bubble! Could it be another satyam in the making ...? The questions are endless with no answer in sight.
Understandably, most of the b2b portals are tight lipped about the sudden developments and are concerned about the next update. Only time will tell if we have heard the last in the ongoing fiasco, or if there are more skeletons which could stumble out the closet !
PS: If you are an Indian supplier or manufacturer, get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7. To know more, click on online business catalogs
One status update on facebook initiated one of the most significant revolution of our times. At least, that’s what the social media pundits are proclaiming.
Things which could have taken years to surface (in the pre internet/social media days ) took less than 10 days to highlight the massive mass unrest through social networking sites. Moreover, it just didn't remain, from people to people, it even created sort-of-a corporate collaboration for a social cause. Google and Twitter tied up to help people tweet the ground reality by leaving messages on Google voice mail, in the midst of social media crack down.
Internet marketers are trying to study the impact of this event and the wider role, that social media sites could play in the times to come. One of the main finding that has come out of this is - social media sites acts as a catalyst. Any unfolding event or a phenomena needs a well deserving push and social media would put it in the spotlight right away. Why? All the respectable and popular media across the globe, follow social media as the pulse of the masses. Views and opinions expressed/shared in high numbers don't get ignored, they become a prime time story or a newspaper's first page report.
Second observation is, it is the youth - who drives the message. Passionate users of social media sites from the age group of 15-35 are one of most sought after target segment for the advertisers, specially the women. Their voices don't go unnoticed or unheard.
Third and the time tested conclusion is - high quality, genuine cause/ content would always rule the headlines. Social media allow users to involve like-minded people in a movement/campaign at a very low cost. All in all, social media helps you publicise an idea at a fraction of a cost with a high probability of a mainstream media mention which could further add to a brand recall.
These lessons are very relevant specially for the b2b portals. Most of them are still struggling to leverage the complete benefits of the social media sites and in turn unable to help their clients which results in high dissatisfaction and a bad PR. In the light of above findings B2B portals can revise their promotion strategies, create more effective marketing plans and execute them powerfully to benefit their end clients.
PS: If you are an Indian supplier or manufacturer, get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7. To know more, click on online business catalogs
As 2010 is about to sign off, I decided to step back a little , introspect and analyse a few things from a client's point of view. The main concern which came to my mind was - What is it that exporters, manufacturers and suppliers really expect from a SEO campaign. I thought of it as a compelling reason to write because of the industry wide rising mismatch between a client's expectation and a SEO' deliverability . Below are the few points, which i could thought of, from a client's perspective, feel free to add yours in the comments.
Lower CPC and a Higher ROI
Getting a client ranked for his set of keywords organically, is getting tougher with each passing day. The next most exercised option is using adwords or other cpc campaigns . The problem area remains the constant struggle to set the price right and give a client, the best possible ROI . Easier said than done ! Industry insiders say - To combat high cost of advertising, marketers will have to double down on match type and negative keyword management, resort to campaign structure optimization to lower costs and increase conversion rates.
More Effective Usage of Social Media
A hush hush dictum among b2b portals is that - social media isn't for them. But, what they also agree to is - Social media is the future. Google is going social (full throttle with google.me), facebook is acquiring more serious users and Linkedin gives a great chance for informal business networking. What a B2B Client really want is -
- Result oriented Serious Networking
- Measurable ROI for SMO campaigns and
- A better product positioning/ branding.
Honest Reporting. Action Oriented Measurable Insights
Statistics hide more than they reveal. Clients don't just wish to see what is good, they also wants to know what is going wrong with their site. Clients needs to be told about their conversion rate, conversion path and the conversion funnel. As avinsh kaushik puts it - reports should reveal the - “Golden Insights” which in turn should lead to actionable data and course correction steps.
Genuine Queries/ Qualified sales
It's a gospel truth that - most of the clients really don't care about the visits, visitors or goals achieved. What they care about most is genuine queries or actual sales! The big question is - How many B2B Portals are able to generate qualified sales or genuine leads? The client isn't spending his hard earned money for just an increased set of visitors or a better keyword ranking. The client means business. SEO companies should have a long term focus and take individual ownership for generating more business opportunities for their clients.
The After Thought
B2B industry is unique and has its fair share of challenges, opportunities and many areas of concern. It is really up to the SEO companies to rise up to the occasion and start delivering as per their client's expectations or else they will get rolled over by their better competitors in this rapidly changing scenario.
PS: Attention Indian exporters suppliers or manufacturers, get your online catalog today and make profits by tapping the business queries being generated 24/7 globally on the net. To know more , click on b2bportal
Jokes apart, The first big info war is on. Freedom of speech is fighting with government's veil of confidentiality.
No matter whose side you are on, that (the) matter of fact is you have been drawn into the first virtual world war. The hacktivists says, freedom of speech is a birthright and what they are doing is a peaceful protest – as putting down a site doesn't involve any bloodshed though the US Government begs to differ. Their counter point is the repercussion of these leaks endangers many lives and holds the potential to change the entire political atmosphere across the globe.
If you look at the anatomy of this warfare, the battle field is the internet hot properties - social media sites, blogs, articles, forums and the troops are individuals like you and me. If social media could help an underdog like Obama, win the US presidential elections, it holds the potential to alter the geographies by flaring up emotions at the ground level. Look at the common thread, social media holds the most important virtue - it can influence the perceptions, it can tell you the pulse of a common man, it can give you invaluable insights into what people think and feel about on all the possible topics.
Just step back for a while and decide for yourself, if internet is on the verge of becoming a dominating mainstream media, where no one can remain a mute spectator, everyone can participate, raise their voice and make themselves count.
Facebook has more than 500 million members, Linkedin claims to have 85 million members- all voicing out what they want, what are they interested in and what are they looking for. Companies can use this tonnes of free information to drive up their profits.
HOW? When in Rome, do what Romans do! When your customers are going online, you need to have your online presence too, when the business communication is becoming a bit casual, stop using age old business jargons, show a friendly human face to the end users, engage them, talk to them and create a goodwill for your company.
Buyers don't trust TV or radio commercials, (its a hyped up pitching of one's product), they don't rely on yellow pages, it just gives them a company's name and number, the net gives a buyer a non partial review, real time user's experience and helps them, make better judgement about their purchase.
What about the B2B segment? Indian exporters, manufacturers use b2b portals, online marketplaces to promote their products and services, apart from participating in trade shows. As the number of such users is increasing phenomenally, it further confirms the fact that b2b industry too is using the net to drive up its profits. Remember, if you are not on the net you are incurring losses by losing a big chunk of your potential customers.
PS: Attention Indian exporters supplier or manufacturer, get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7 . To know more , click on b2bportal
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