The ABCs of E-commerce: What It Is and How It's Changing Business
Global online sales are set to reach over $6 trillion this year. E-commerce platforms are a revolution that changes the landscape of how we do business.
However, with these numbers, it is clear that the competition is fierce, and to stand out from the crowd, you need an excellent e-commerce strategy.
Are you ready to learn the ABCs of online sales tactics? Let's Analyze, Build, and Craft your e-commerce growth right now.
Analyzing the E-commerce Landscape
E-commerce platforms can encompass several models of businesses that sell goods and services online. Each of these models can be your path to success and financial freedom.
For example, B2C is a business-to-consumer model where the company sells directly to the consumer. The company likely has suppliers (suppliers are business-to-business, B2B, models) that provide these products.
These two are the main models, and each is an important part of the supply chain.
Typically, both of these models will conduct their businesses in one of the following ways:
Online retail
Online auctions
Payment gateways
Internet banking
Online ticketing
While e-commerce platforms are not new to the way we do business, there are significant milestones that have revolutionized the industry. Take Amazon and eBay, for example. These are brands that everyone recognizes and are the trendsetters of the online world.
However, these companies are not the only catalysts in this domain. The advent of smartphones and faster internet has significantly increased the ease of online selling.
Today, e-commerce is a trillion-dollar industry, where 20% of global sales are conducted online.
Building an Effective E-commerce Strategy
Now that you understand the landscape you are entering, the next step is your strategy. As mentioned before, this is a competitive landscape.
First impressions, much like in the real world, are everything. Your website needs to be easy to navigate and speak to your audience. If you have a B2B model, you must exude the professionalism that your audience expects.
However, if you have a B2C model, where your customers are young adults and teens, try a more upbeat and youthful look.
While this is just the first step, it is one of the most important aspects to get right. If your first impression turns your customers and clients away, you have no chance of making a sale.
Crafting Winning Online Sales Tactics
Once you impress your audience with the right homepage, you can then direct them with CTAs (call-to-action) to your products or services.
Your product or service pages should have clear and informative descriptions to drive sales. Mention:
Key features
Benefits
Usage instructions
You should also use high-quality images that include zoom capabilities if you are selling products. Perhaps even a product video with customer reviews.
One trend that is showing significant promise is the personalization of shopping experiences. Amazon is a great example of where they recommend products often bought together, or show comparisons between similar products.
Digital Marketing Strategies: Start Yours Today
A solid e-commerce strategy is the first step to success in a competitive landscape. Follow these first steps and you will see sales trickling in.
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