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I looked up my most recent book, Strategic Database Marketing, 2nd edition, on the Amazon.com site. In addition to the price and a picture of the cover, there was a summary of the book, 43 sample pages that visitors could read and print, nine reviews of the book, and a Sales Rank Number: 5744. Amazon ranks the sales of all books daily, from 1 to 1,000,000 or more. In addition, Amazon reported that my book was selling very well to employees of NCR, the makers of Teradata computers. What bookstore could possibly provide such interesting and valuable information Set up reports so that you can know on a daily, weekly, and monthly basis which customers are visiting your sites, what they do there, and what they buy there. Design the reports so that your customers can see them as well, print them on their PC printers, or download them into their own reporting systems. Once you have a system set up, how do you get customers to use it After all, most of them are happy calling your operators on a toll-free line and wasting your money. Why would they change Why would they go to the Web to get information or to order from you People do what is in their own best interest, not what is in your best interest. You have to give them some kind of incentive. What are the ways of doing this For business-to-business operations, work with the purchasing of cer at each customer site. Offer these purchasing of cers a deal that they cannot refuse: If they will persuade their employees to use the site, you will give the company a volume price break.

Obviously, a great entry system makes everything easier and reduces the need to find perfect exits An entry system that stays fixed over the exploration of the different types of exits allows determination of the degree to which profitability can be improved (or losses reduced) by effective money management and exit strategies, Second, random entries help ensure that the system contains a number of bad trades, which are needed to test the mettle of any exit strategy After all, the whole idea of a good exit strategy is to cut all the bad trades quickly before they do damage and to preserve and grow the good trades With a really good exit strategy, it is reasonable to assume that bad trades will be exited before large losses are incurred and that profit will be made from the good trades.

Provide monthly reports to the purchasing of cer telling her what her employees are buying. Put the purchasing of cers on an advisory panel. Invite them to come to Hawaii with you once a year to discuss business. You gure it out. There is some good way to make it worth their while. If your site is for consumers, you have to come up with relevant incentives. The way to start is to gure what you get out of the system and share some of the proceeds with your customers. When the site is ready, you will need to send an email to all your customers like the ones that Boeing uses: To provide more value and better service to our customers, we have developed a way to use the sophisticated technology of the World Wide Web to give customers direct access to our extensive part information and ordering system. You can now order parts and view part information through a new World Wide Web site called the Boeing Part Analysis & Requirement Tracking (PART) Page How do you justify such a system to your management The software costs are not trivial. Let s try some numbers. What would it cost to let your customers come behind the counter Table 11-1 gives some sample one-time costs. This assumes that your products, services, and technical data are already in electronic form. If they are, $400,000 should enable you to set up a Web microsite to which customers with an ID and password could come to see your products and place orders. The reporting software would provide Web reports to the customers. Promotion is the money needed to let customers know about the system so that they will Table 11-1 One-Time Costs

This relates to the popular notion that if losses are cut short, the profits will come, regardless of the system The studies that follow put the truth of this axiom to the test Last, the approach provides an entry model that has a reasonably large, fixed number of trades The sample consists of all kinds of trades, many bad ones and some good ones (by accident or chance) Under such circumstances, the overall performance of the system is expected to be due exclusively to the exits..

Web access software Reporting software Promotion Total $400,000 $ 20,000 $ 30,000 $450,000