How has the “new normal life” changed the way we do business? As the COVID-19 pandemic made countries lock down their territories, brick and mortar stores have been forced to close, and e-commerce has become the main means of business.
Based on the report of McKinsey & Company, the 10-year expected growth in e-commerce happened in just three months. Considering how this e-commerce leap has changed the way we do business, those brick and mortar stores that have “temporarily” closed could end up being permanently closed if they do not make their presence felt online.
Even though there is a possibility for e-commerce to slow down when the pandemic is over, there will always be people shopping online because it’s more convenient. So if you are starting a business and looking into an e-commerce insight on what it will be like in the coming years, well, we tell you – it will continue to rise even more. The US e-commerce is expected to grow about 18% this year. Having said that, it is clearly the best time for e-commerce beginners to start their online business.
What’s e-commerce for beginners like? It might be a bit scary in the beginning. With everything going digital, e-commerce is getting crowded and getting even more competitive than before. However, it can also be exciting. With the continuous rise of e-commerce, technology and innovation will continue to develop.
For you to start your online business, we have prepared five helpful e-commerce advertising tips:
1. Know what products to sell.
Research on what sells. Generally, there are two types of products: commoditized products and niche products.
Commoditized products are products that are used in everyday life. Because they are basic necessities, these products are usually in high demand with a bigger market.
Niche products are dedicated to catering to the needs or preferences of a specific customer base. Being an “exclusive” item, these products usually have higher profit margins than commoditized products.
The e-commerce tip to choose what product to sell: Know your passion. In order to put up a successful business, you need to choose products or services that you are genuinely passionate about. When you are passionate about your business, creative ideas come easily.
2. Know your business model.
Next, you need to know how and where to sell your products. The e-commerce business model is an extensive topic, but it can be simplified into four main models:
- Business to Consumer (“B2C”) – In this business model, the business sells products or services to consumers. This is the business model that the typical consumer would be familiar with.
- Business to Business (“B2B”) – In contrast to the B2C model, you sell products or services to other businesses in this business model. This particular business model will work for you if you are selling products that can be sold wholesale such as raw materials. This is also the business model you would follow if you are selling services that can help other businesses. Delivery services and warehouse and storage services are some examples of this model.
- Consumer to Business (“C2B”) – In this business model, it is the consumers that sell products or services to businesses. An example of a business that follows this model is UpWork. The consumers of freelancing websites like UpWork are selling their services to businesses.
- Consumer to Consumer (“C2C”) – This one is when the consumers sell services to other consumers in exchange for a commission. It works by charging listing fees, transaction fees, and subscription fees. Platforms like eBay and Craiglist are some examples.
3. Do market research.
Market research is done to determine what the customers would want from you. It is about understanding competition, target audience demographics, and the market condition itself. Here are some tips on how to do it:
- Search for keywords related to your products on search engine platforms and see the top results. Check current trends via Google Trends. This will help you determine if the customer’s interest in the product is growing or not.
- Follow popular influencers who have a strong and steady growing followership. People often listen to influencers for what products to use. Check their hashtags, and read comments on products similar to yours.
- Join online communities. This helps, especially if you are selling niche products. Interact with communities that might be interested in the products that you will sell. This way, you will know how to create a marketing strategy that will catch the attention of your target market.
4. Know how to build an e-commerce store.
A website is like having your own physical store, but it’s online. This could make or break your business as it acts as your salesperson 24/7. However, if the website is poorly designed and has weak content, chances are, customers will not be enticed to buy your products or services.
An essential e-commerce tip we can give you is to seek professional help. Web designers can make your website stand out from your competitors, and they can highlight the details needed by your customers. Remember, it only takes a few seconds to catch the attention of your customers. If you are not able to make a good impression and make them stay on your page, you are going to lose your customers to your competitors.
5. Know how to generate traffic to your website.
Traffic is measured by the number of visitors who visit your website. The more site visitors you have the more potential for sales.
However, e-commerce is getting crowded each day, and competition is getting more challenging. How are you going to stand out? Again, ask for professional help from a reputable SEO company. Search Engine Optimization is an effective way to make your website more visible in the online world. It uses strategies that make the presence of your website felt.
Without a good website, you cannot put up a good fight in the digital world. And without generating traffic to your website, you cannot generate good sales.
At Advanced Digital Media Services, we can do all of these for you. Our team knows how e-commerce works and how we can help your business penetrate the online world: from building up your website, securing a payment gateway for your customers, and protecting your site’s security. We can also generate traffic that can, later on, turn into sales. For all of your e-commerce needs, ADMS has it all for you. Schedule an appointment with us, and let us start venturing your online business!
