In today’s business world, Having a web presence to build a business is not enough, Leveraging your customers and connect with their heart keeps your business growing tremendously well.
There are many people whose greatest desire is to build a business that allows them to make their business presence powerful impact around the globe.
Well, it’s time to make it happen by the Complementary impact of E-commerce.
With the increasing need of E-commerce industry in the market, one can get a lot of benefits by opting it in his business as it increases the sales of business up to 50% more over traditional marketing and takes the business to the new heights of success.
Do You Know?
- In the US more than 60% of people love to shop online from the comfort of their home and this figure is rapidly increasing day by day.
- Around 62% of women in the US pay attention to promotional view and online discount.
- 69% Owners of the tablet make a monthly purchase online
- Twitter is the most biggest traffic generating platform for E-commerce business
- Apparel and Accessories sales are the fastest growing sector in E-commerce
With the birth of E-commerce, the lifestyle of people turns out very cosy and convenient.
1. Why E-commerce is Expanding Tremendously?
Some Facts About E-Commerce
- It enhances the ability of the business to reach more potential customers
- Build a strong everlasting relationship between you and your customers
- Allow the customers to shop 24*7 around the globe
- Decrease the geographical gap
- Lower down the cost of business for maintenance and rent
- Allow the business to scale up easier on global scale
- Expand the market for niche products
- Save a lot of time and money for customers by searching their product easily and making purchasing online
- Reduce the labor cost of business
- Business get to know about the buying habits analytics of their customers quickly
Once you have your product you can start setting up your online storefront and designing your E-commerce website.
Do some research to make sure your product is viable. Is there already an established market out there for your product?
If there is already an established market Make sure your product is unique enough to break in.
Develop a MVP ( Minimum Viable Product) and then started.
The beauty of E-commerce is that you can sell pretty much anything here.
Your E-commerce store can sell physical product (Electronic appliances, accessories, shoes), Digital products (E-books are a good place to start) or services (such as babysitting)
But How would you decide what type of product to sell?
Identify what you are passionate about. Do you love shoes? How about selling shoes for men and women then?
You can deliver the product to your customers over the internet as well by creating an E-commerce store around digital products.
Copyright infringements and piracy is a serious challenge for such stores.
Another important is the legal section and FAQ ( Frequently Ask Question ) that cover the mechanism of copyright status and product delivery of your offerings.
2. Understand the Different Business Models
Every online store has a business model of its own but selecting the perfect business model is a very challenging task especially for those who have zero to little experience how to make their presence in the world of E-Commerce.
When planning the E-commerce venture, selecting the right E-commerce model is essential to make your business Grow sustainability in the market and keeping the store afloat.
Although it is not rocket science somehow it does impact your business structure.
3. Choose Right E-Commerce Model
Business to Business (B2B)
If the nature of your product or services is geared towards meeting the needs of another business than B2B model is the best suite for you.
Reaching out and networking plays a very important part of this strategy.
The most challenging face of this model is too convincing other established business that your product or service is the best fit for their process.
Meanwhile, if you maintain the quality of your product or services with effective planning than you will strengthen your online presence and business opportunities and get more potential clients and resellers.
The giant of B2B marketplace for small business is the world largest trading platform ALIBABA.
Business to Consumer
Your primary target in this marketplace is the general public, here you can target a vast and varied market.
It’s totally up to you whether you want to appeal to a large number of the audience or specialize in selling to a niche group.
The most important thing is you have to pamper your consumers whole heartily and make sure your offering satisfied their needs and requirements completely.
The focus should be on attracting, retaining customers and increasing the profitable sales by building an emotional touch with the consumers as Emotions always play a very important part in this marketplace.
The consumer does not give much attention to the objective characteristics of the product but how that product brings changes in their lives and make them feel good is they always look first.
The biggest thing is if you get success to win the trust of your consumers, TRUST ME you will rule their heart for so long and nobody defeat you at the same pace
Here, Apple is the best example for leading B2C retailer in the marketplace.
Apple is the grand master in touching the hearts of its customer.
4. Case Studies of Two Giants
Why Apple Rule in the Heart of its Consumers?
- A clean easy to navigate website
- Incredible customer service
- Quality Packaging and design
- Easy to find a store location
- Personal set up
- Created Events to unveil New Apple products
Apple recognizes that we are the social animals who love attention and be the part of something important, This well-crafted desires appeal to our most basic emotional need: to be a part of something bigger than ourselves.
Apple wins the loyalty and devotion of its customers by developing a personal connection with them.
It has developed a desire in the mind of people to become a part of the lifestyle moment.
Consumer to Consumer
Here, This category of E-commerce facilitates commerce between the common individuals whether it is good or services, this business model connects private individuals to do business with one another.
C2C business cut out the middleman, here Consumers sell directly without having to go through a middleman.
Although it is little complex and needs effective planning to operate,but it allows the buyer to potentially purchase the products at a better price and seller to keep more of their profit.
One of the best websites of C2C Business is ebay who is the market leader in this category of business.
Consumer to Business
C2B is all about the consumers to initiate their presence in the corporate world.
It is not consumers investing money on something but the companies consume the offerings of consumers.
The best part of this business model is consumers get to interact with big corporate companies to do e-commerce.
If you are a freelancer then this is the great platform for you to initiate your presence in the corporate world.
Reverse auction websites, freelancer marketplaces, and affiliate marketing all come under this business model of E-Commerce.
Now I am sure you are well understood about the different business model of E-commerce and can easily identify your right business model to start your venture in the E-commerce industry.
Amazon Business Strategy
- Amazon started his market presence 10 years back.
- Jezz Bezos founder of Amazon made his company from a modest book E-store to one of the most valuable companies in the world.
- Today Jezz Bezos being hailed the king of Internet commerce runs a successful powerhouse that did nearly dollar 7 billion of sales last year.
- Amazon obsession with his customers
- The culture of Innovative technologies and practice
- The website user Experience
- User-friendly features make Amazon website a breeze
- It focuses on Conversion Rate Optimization
- His “IN IT TO WIN IT” Mindset always keep the company push to make New strategy
- Amazon set long-term goal rather instead of speedy payout
- Amazon provides its user with a personalized shopping experience
Now let’s talk about how your E-Commerce store can mimic its success.
Do You Want to be The Next Amazon?
Of course, who don’t want to be?
So, Once you have decided what product to sell and chosen your business venture the next step is choosing the appropriate business plan.
As business without planning is like a ship without more reddar.
Well here are popular options to make money in an E-commerce business :
- Create an E-commerce website
- Start Promotion on social media pages ( presence of 2.789 billion active users )
- Build an E-bay store (largest online marketplace in the world)
- Set up an Amazon Seller’s account ( 7th most trafficked site online )
- Post craigslist ads (a Most valuable tool with 60% of the user )
- Participate in an online forum ( Best platform to get backlinks )
- Understand your customers ( Google analytics is the best tool to understand the behaviour of your customers)
- Remark using email list ( Best ROI platform for digital marketing)
- Write a blog ( Help in generating 67% more leads and 97% more links on the website )
- Start the youtube channel ( 1million unique monthly visitors)
Well, that’s it
You are well on your way to build a beautiful and fantastic e-store in the world of e-commerce.
If you put in the time and build it in the right way then you will surely make your presence stronger in the world of e-commerce.