Cofidis should use Internet and Web 2.0 tools to expand internationally because it powerfully helps the company to prospect new customers and generate awareness, image & credibilty. The Internet helps Cofidis in its smooth deal making process and to generate easy and simple relationship with customers. These tools also enables the company to disclose greater details to target customers.
Support Analysis: One key advantage of Cofidis was that it was already largely virtual and no branch offices. With the introduction of online catalog, it was already observed that an unusual number of 35-year old males were converted.
The internet is expected to increase the signed to approved contract ratio considerably because electronic signatures would provide a feeling of smooth transaction to customers. The websites can also be used to provide more in-depth details to customers as to allowing customers to decide the financial product that best fits their needs. However, I don’t think Cofidis should create a new website concept but strengthen the existing brand. The internet helps Cofidis to prospect new customers by offering online surveys and application. The internet also enables Cofidis to customize the information being presented to the target segments in each country. It is important that the company positions itself better among popular European web search engines. It can consider making tactical alliances with local community websites like bicycling websites in France, NBA websites in USA, Football websites in UK. The Web 2.0 tools like Blogging can help Cofidis differentiate from competitors through a blog by providing their personality and communications online. Marketing events through tools like MySpace, Facebook and Upcoming are a low-cost way to promote the brand and create awareness amongst target segments.