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E-commerce can refer to any type of business transaction that takes place online. For example, the most obvious form of e-commerce is shopping online shopping. Basically, it is the purchase and sale of products over the internet. However, e-commerce also includes other activities like online banking or online auctions.
Typically, e-Commerce Marketing Companies breaks down into three models depending on the parties who are doing the transaction. In general, these models are:
Business to Business
An example of this would be a stationery store selling office equipment and supplies in bulk to another business. Usually, business-to-business companies offer a discount per unit when their customers make bulk purchases. This serves as an effective motivation that drives sales.
Consumer to Consumer
This is a somewhat newer business model. Generally, it’s when a consumer purchases a product and then resells it to another consumer. Through a marketplace like eBay, this can be an easy, beneficial way of selling products which you no longer use.
Business to Consumer
This is the most common business model. A merchant sells a relatively small amount of products to a consumer. A good example of business to consumer would be grocery stores where consumers do their weekly shopping. However, they typically don’t buy in bulk.
A Look at the Advantages of e-commerce
No Geographic Limits
When you’re running a physical “brick and mortar” location, it puts limits on the geographical region you can service. However, an e-commerce website opens up practically limitless possibilities. Additionally, the implementation of e-commerce on smart phones continues to expand the marketplace even more.
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Reach New Customers with Visibility on Search Engines
Relationships and branding are what drives retail. To that end, traffic coming from search engines is what drives online retail. It is not at all unusual for new customers to follow links from search engine results to an e-commerce website. This extra source of new traffic can be very beneficial for an e-commerce business.
One of the clearest advantages of e-commerce is that it simply lowers costs. Consequently, lower costs can pass on to consumers through price discounts. Some of the ways in which this can occur include:
- -Marketing and Advertising: Some of the most cost-effective channels include pay-per-click and traffic that comes organically from social media and search engines.
- -Less Personnel: Automatic billing, checkout and other operational tasks reduces the number of employees it takes to run an e-commerce entity.
- -No Real Estate Required: This is among the most obvious advantage to e-commerce. An e-commerce business simply doesn’t require the expense of a physical building.
- -Find Products Faster: Along with no need for a physical store, e-commerce also eliminates the need for pushing carts and scanning aisles. Instead, customers simply click their way through your site intuitively. Additionally, they can utilize the convenience of a search box to accelerate their product searching. Some websites retain customer preferences and their shopping lists to help streamline future transactions.
- -Eliminates Travel Times and Expense
It is not uncommon for customers to traverse considerable distances to get to their physical store of choice. However, e-commerce enables them to visit your virtual store in a matter of a few clicks.
-Easy to Comparison Shop
E-commerce makes it a breeze to compare products and prices. There are multiple online services that enable consumers to browse several different e-commerce sites to find the lowest prices.
Grow Your Business with E-Commerce
-Deals, Coupons and Bargains
Certainly, there are equivalents to special deals in the realm of physical retailers. Nevertheless, online shopping makes it even more convenient to find bargains. For example, consider a customer with a coupons for tires at one physical location and paper towels at another. She might find that it’s not practical to redeem both deals. However, she would have no problem doing so online with a few quick clicks.
-Provides Useful Information
There are limits to the amount of content a physical store can display at any given time. It is challenging to train employees to reply to customers who want information that crosses product lines. E-commerce websites, on the other, help to make extra information readily available to existing and potential customers. Certainly, vendors provide a lot of relevant information at no cost.
-Develop Specific Communications
E-commerce merchants are able to access lot of helpful information about their customers. They can collect the information from what the customer supplies in their registration form. Additionally, they can access information from the placement of cookies upon the consumer’s computer. Consequently, it’s possible to utilize that information to communicate custom messages. For example, when searching for a specific product on Amazon.com, the site shows similar product listings. Also, you may receive emails from that site informing you of products of possible interest.
With ready access to so much consumer data, it presents the opportunity to see customer purchasing patterns. Also, you can see emerging trends in your industry too. Without a doubt, e-commerce businesses are able to remain cutting edge and tailor their marketing. As result, business grows and the experience for customers continually improves.
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With e-commerce, your virtual store never closes. This provides non-stop convenience to your customers while boosting your volume of incoming orders.
Because you won’t need to worry about adequate shelf space for your products, there’s no limit to what you can sell online. Indeed, your store’s inventory can expand continually. Although you’ll need to store physical items somewhere, storage spaces are typically much less expensive than retail space. Also, e-commerce means no more concerns over things like parking lots and foot traffic. With e-commerce, customer may buy books, music or videos in an instant. E-commerce stores now sell digital copies of these products with no worries about storing inventory.
-Develop New Markets for Your Specialty Products – e-Commerce Marketing Companies
It can be a real challenge for sellers (and buyers) of specialty products to find what they want at a physical outlet. With online shopping, it is just a matter of the consumer entering what they want in a search engine. This is true from clothing and furniture to collectible auto parts. If you are looking to sell a niche product, then e-commerce provides a direct and convenient connection for your customers.
-Work from Anywhere.
Managing an e-commerce business there’s no need for you to remain in a store, warehouse or office all day. Likewise, there’s no more need to commute every day. With a laptop computer and a reliable internet connection, you can manage your commercial entity from just about anywhere.
Besides eliminating the hassle of long lines, e-commerce businesses provide a significant advantage to shoppers and stores outside urban areas. Even if you are in a large city, e-commerce can develop possibilities with new markets. That enables you to form a new, custom business model for your growing base of customers.
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Lastly, e-commerce enables your business to monitor logistics. With so much digitized, it’s easier to automatically gather relevant data and statistics. Knowing which products are selling is, naturally, very
beneficial. Also, you’ll be a better position to take some risks on lower-volume products.
E-commerce allows for you to still include less in-demand products in your catalog. After all, storage costs less and it’s no problem to add another page to display the product.
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