E-commerce is the conduct of buying and selling i.e. business transaction online. Currently, online shopping is regarded as eCommerce but it is not limited to just shopping as eCommerce covers many online activities such as auctions and internet banking.
In today’s world eCommerce is rapidly growing as the biggest retail market. Not only that it has also created ample of job opportunities to digital marketers and website designers and developers, Magento and Shopify experts are the digital marketers most associated with eCommerce. It is not just a freelance digital marketer, but large organizations at the moment are also completely dependent on eCommerce. To put things into perspective the global eCommerce retail market is expected to hit more than 27 trillion dollars in sales in the year 2020.
Now that we have your attention, let’s discover in detail about eCommerce.
Business models of E-commerce
In order to first understand eCommerce, one should know that eCommerce has 4 different types of business models which describe in detail about every online business transaction.
- Consumer to consumer (C2C)
Consumer to consumer is a business transaction when a consumer sells a good or service to another consumer, just like you would sell your car to another person online.
- Consumer to business
It is the business transaction process where a consumer sells services or products to a business organization. An example could be a business hiring a freelance website designer to make design changes in their business website.
- Business to consumer
This business transaction involves any business organization selling products or service to consumers such as you buying a car from Toyota.
- Business to Business
This is where a business organization provides products or services to any other business organization. Such as a travel agency, hiring an SEO agency to optimize their website on the search engine.
Examples of eCommerce
eCommerce sports variety of forms where consumers and sellers are involved in business transactions. Such as
Retail where a business directly sells its product and services to a consumer
Wholesale where any entity sells its products in bulk to a retailer who later sells it to its consumers
Digital products where consumers online are allowed to download media or digital goods through paid channels.
Services are where anyone takes compensation for any skills he/she provides to anyone.
Starting your eCommerce business or brand
Just like any other business eCommerce business requires proper business planning and research in order to set up an online eCommerce store. Following are the steps that must be taken to get an eCommerce store underway.
Identifying your niche planning ahead
First and foremost, you must identify the products or services you are going to sell online. You must discover your niche as to what specific product and service you can sell. It is not something which can be decided overnight, in order to sell any product and excel in that business you need to know the ins and outs of it. Once you have succeeded here, then you must source the products were making manufacturing and shipping make up the sourcing part.
Knowing your market and competition
Moving on, you must learn about your market. You will need the information about who would be interested in your products, where you can sell it, how you can modify your product to appeal to the audience. Secondly, you also need to keep an eye on your competitor as to what they are doing and how are they attracting their customer. It will help you with new and better ideas.
Find a way to stand out, the right branding
Once you have processed all the information needed to find the right product to sell and the market to sell it to you need to find the right marketing strategy to make your brand stand out. Find your selling point, where you can excel your brand and tell your audience that this is where we have no competition. Find a selling point and stand out.
Get the right platform to sell.
You can achieve that either by building an eCommerce web portal from scratch either yourself or through a digital agency OR you can always use an eCommerce platform such as Shopify, you can get your eCommerce website developed through Shopify experts.
Benefits of eCommerce website
Having an online store has a number of benefits and provides great opportunities in order to grow the business. With the internet and smartphones becoming necessary in everyday life the importance of having an eCommerce store is rapidly increasing every day.
Global market and brand recognition
Having an online store allows you to expand your online business beyond borders to the rest of the world. The world becomes the market and if the brand succeeds in providing the products and services as it has promised them the recognition it receives will be worldwide, giving them exponential growth opportunities.
Cost-effective and time-saving
Having an eCommerce store rather than a physical one is a very cost-effective process. You wouldn’t have to spend loads of money to find a place to start, you would just need to get a website underway and start from your home. This will allow you to save money and also start operations in a snap.
Having an online business provides accurate information about the market you are targeting and who your customers are. With the help of online tools and softwares, you can accurately target the most relevant customers.
eCommerce stores are the future of online business transaction, if you wish to stay ahead of the curve you must get an eCommerce web portal.
Digital Marketing Quotes
Good SEO work only gets better over time. It’s only search engine tricks that need to keep changing when the ranking algorithms change.
When you are writing keep asking yourself “so what” until you are sure what is in it for the customer.
Take a risk and keep testing, because what works today won’t work tomorrow, but what worked yesterday may work again.”
Advertising brings in the customers, but it is your job to keep them buying from you.
The pace of change means that relationship is more important than ever before.
Quit counting fans, followers, and blog subscribers like bottle caps.Think instead about what you’re hoping to achieve with and through the community that actually cares about what you’re doing.
People shop and learn in a whole new way compared to just a few years ago, so marketers need to adapt or risk extinction.
Its much easier to double your business by doubling your conversion rate than by doubling your traffic.
In 2004, good SEO made you remarkable on the web. In 2014, good SEO is a result of being remarkable on the web.
Going viral is not an outcome; it’s a happening. Sometimes it happens; sometimes it doesn’t.Just remember, fans are vanity and sales are sanityI love being marketed to’. Said no one, ever.
Your culture is yor brand.
We’re all learning here; the best listeners will end up the smartest.
Innovation needs to be part of your culture.Consumers are transforming faster than we are, and if we don’t catch up, we’re in trouble.
Good marketing makes the company look smart. Great marketing makes the customer feel smart.
You can’t fool all the people, not even most of the time. And people once unfooled, talk about the experience.
It doesn’t matter how much ‘real’ (objective) value you have baked into your product if your customers don’t perceive that value.
Best way to sell something: don’t sell anything. Earn the awareness, respect, and trust of those who might buy.
Commit to a niche; try to stop being everything to everyone
Instead of one-way interruption, web marketing is about delivering useful content at precisely the right moment when a buyer needs it Scott
A brand is no longer what we tell the consumer it is – it is what consumers tell each other it is.
Being able to quit things that don’t work is integral to being a winner We embed social media inside our processes. Let’s look at our processes and see how we can enhance them with social.
The only way to win at content marketing is for the reader to say, ‘This was written specifically for me.’
Without strategy, content is just stuff, and the world has enough stuff. – Arjun Basu
My theory is that in the age of the internet, it’s what you write, not where you write it, that matters.
You don’t have to reinvent the wheel; you just need to share your unique perspective on why the wheel is important
If you can’t measure it, you can’t manage it.
The Internet makes money for you when you build something that is real and when it matters to people!
Authenticity, honesty, and personal voice underlie much of what’s successful on the web
Content is king, but marketing is queen and runs the householdSell-sell-sell sales methods simply do not work on social media.
The diﬀerence between Sales and Marketing is that Marketing owns the message and Sales own the relationship.