While the internet has proven to be a wonderful tool for businesses, the relatively new world of internet commerce has some difficulties as well. New businesses enter the internet market all the time and it can be difficult for consumers to determine which are legitimate and which are not. Fortunately, there are some regulatory offices that help govern internet commerce and other associated industries.
One of the regulatory bodies that specifically focuses on internet commerce is the Internet & Website Development Regulatory Office (IWDRO). This type of organisation allows business members to voluntarily seek membership in and recognition by the regularity committee. Some organisations focus on online commerce in a single country or global location, while others govern all internet commerce regardless of the physical location of the businesses involved.
What Are the Mission Objectives?
While the objectives of regulatory organisations may vary slightly within each one, there are several common goals. One part of the mission is to offer accreditation to certain online businesses. To be approved, these businesses must be recognised within their industry for competence, reliability, and outstanding professional service. Many businesses seek accreditation because they find that it offers specific benefits. For example, registered members of some regulatory organisations benefit from a detailed member benefits package, as well as targeted marketing campaigns funded by the organisation itself.
One way that a regulatory organisation improves the quality of internet commerce is holding its members to certain standards. These are sometimes specified in a Code of Conduct, and essentially ensure that all member businesses abide by applicable laws and comply with best practice procedures. This requirement accomplishes several objectives: it encourages consistency within the industry while enhancing the reputation and value of membership in the organisation.
Benefits of Membership
Many businesses find membership in a regulatory organisation to offer unparalleled benefits. Earning the seal of membership in a prestigious organisation inspires consumer confidence and gives accredited businesses a distinct edge over competitors. Potential customers place a high value on adherence to a Code of Conduct, as well as inherently trusting businesses that care about and commit to improvement in industry standards. Some organisations have a special seal or logo available only to members. Displaying this seal on a business website usually attracts customers and ensures a reliable experience which encourages more sales.
Networking is another benefit of membership in a regulatory organisation. Some organisations include a regular newsletter full of relevant information about the industry. Membership also allows you to find and connect with other reliable and high-quality businesses in your industry sector. You may also be able to communicate with reliable businesses in industries that are separate but compatible with your own. Sometimes regulatory organisations also publish articles with information about improving advertising, attracting more customers, or generally making an online business more successful.
Internet regulatory organisations offer several benefits to both consumers and members. Consumers know which businesses are reliable and maintain best standards. Businesses accredited by the organisation are given advertising benefits as well as increased networking opportunities.