Denise Emille Duque
February 27, 2023

Nowadays, it's common practice to search for a service or product online and then read up on customer experiences with that service or product. A business website acts as the storefront, attracting new consumers and showcasing your brand to the public. With a well-organized website, you can attract more clients and set yourself apart from the competition. Statistics from Opti Monster show that 93.5% of all internet users around the world have bought something online. Adding an online storefront to your business is a sure way to reach more potential customers.

Maintaining a strong online profile is crucial to the success of any company and may also serve to boost sales and customer loyalty. Customers are more likely to find you, shop at your online store, or become familiar with your brand, and then spread the word by posting positive reviews and sharing their experience on social media. Using this strategy, you can build a global consumer base without leaving your house. You are not restricted to a single market. Understanding how to construct an e-commerce website is crucial if you want to expand your company's income prospects in the digital marketplace.

What is an eCommerce Platform?

The term "eCommerce platform" refers to a kind of software that helps run essential company processes for the purpose of facilitating online commerce. These days, online retail systems handle a wide range of internal and external tasks. A wide range of services, including financial accounting, inventory and order management, customer service, and reporting, are made available. Popular ecommerce platforms include Magento, Shopify, and BigCommerce due to their extensive personalization features and great search engine optimization (SEO). While selecting the ideal website builder, load speed, mobile friendliness, multi-channel integration, and marketing tools are other crucial factors to take into account.

Ecommerce Classifications

Ecommerce business models come in four different types. They are all classified depending on the nature of the transactions. E-commerce businesses are categorized as follows:

·         Business-to-Business (B2B) Ecommerce

The B2B ecommerce concept refers to the exchange of products or services from one business to another. The B2B model encourages online businesses to trade products with one another. As an example, a manufacturer may sell his goods to a wholesaler, who in turn may sell them to a retailer. In this situation, the manufacturer and wholesaler are using the B2B model.

·         Business-to-Consumer (B2C) Ecommerce

As its name implies, the business-to-consumer e-commerce model facilitates transactions between businesses and consumers. A business uses the B2C ecommerce model to offer products or services directly to individual customers online. The retailer in the aforementioned example is using the B2C business model since he buys in bulk from the wholesaler and then sells the products to individual consumers online.

Customers may see and buy preferred items from the retailer's online shop using the B2C model. When an online retailer gets an order, he processes it and then ships the items straight to the customer. For instance, Amazon has a business-to-consumer e-commerce strategy since it sells products directly to consumers. Business-to-consumer companies like Expedia, IKEA, and Netflix have recently become leaders in their fields.

·         Consumer-to-Consumer (C2C) Ecommerce

The C2C model is another kind of e-commerce business model. When a client purchases an item from an online store, they are given the option to resell that item to other customers. In today's highly connected world, this is an obvious and sensible step to take. To put it simply, this is mobile ecommerce!

With the C2C ecommerce model, people can sell things like cars, houses, and bikes to other people over the internet. The seller may place an ad with complete product information. Those who are interested in the goods may check out the description and get in touch with the seller. One example of a successful C2C ecommerce business is eBay or OLX.

·         Consumer-to-Business (C2B) Ecommerce

An individual customer may sell products and services to a company using this intriguing e-commerce approach. It is the opposite of the B2C model, which is when companies make products and services for the end user.

Individual customers may use the C2B ecommerce model to offer products or services to companies that are willing to buy them. If you're a software architect, for example, you may advertise your services to businesses on sites like Fiverr and Upwork. If the company is impressed by your programming talents, they will buy the software and may even retain you for future work.

5 Reasons Why Your Business Needs an eCommerce Platform

If you're the owner of a small or medium-sized business and you haven't yet decided whether or not to engage in digital transformation, consider these 5 reasons why you should have an eCommerce website or app.

1.      Convenience

Customers may shop at any time, day or night, when it is convenient for them due to the accessibility of an online store. People don't always have the time to go shopping in person, so more and more of them are using the Internet to locate what they need. If your business can offer this option to its customers, you'll probably get more people who like to buy things that are easy and flexible.  

2.      Broaden your brand

You may transform your business from a dated brick-and-mortar store to a cutting-edge, well-known one by using e-commerce. Your business can become the home of your products and the overall home of your business by making them available online around the clock, in addition to providing online customer support, blogs, and social media. This will save you the trouble of relocating or worrying about not being able to expand your business.

3.      Increased customer reach

Because the internet is so widely used, millions of people all over the world have instant access to your website. This gives you many more ways to grow your business and connect with more people. If you want to expand your customer base beyond what a traditional storefront or local ads can provide, there's no good reason not to consider moving your business online.  

4.      Scalable

Developing your business to meet the needs of a growing customer base and expanding your product offerings are natural next steps as your company expands. You can expand your company with an e-commerce website in many ways, including the number of product lines you provide, the types of payments you accept, and the number of locations you ship to, all without having to physically relocate your operation.

With an efficient and well-developed website, you may not only accomplish these aims but also provide your customers with round-the-clock, easy service, which can increase your business's success in the field of e-commerce.

5.      Better marketing opportunities

One of the best marketing tools your business has is its website. In addition to increasing the chances that your business will be discovered in search engines by using SEO while designing your site, a variety of other marketing strategies may be used in combination with it, such as pay-per-click advertising, social media marketing, and email marketing, all of which can include links back to your website.  

How Do You Start an Ecommerce Business?

1.      When launching a business, it's important to gather as much information as possible. Research the market, your potential customers, the competitors, and the estimated expenses of the products and services you want to offer.

2.      Next, you must think of a company name, choose a legal structure, and register your business with the appropriate authorities (taxpayer numbers, licenses, and permits if they apply).

3.      It is recommended to choose a selling platform and create a website before really selling anything (or have someone do it for you).

4.      Don't make things too hard to understand at first, and use every opportunity to get the word out about your business.

Searching for a service or product online and then reading reviews written by previous users is a frequent activity these days. For businesses, their websites are the equivalent of a storefront; they welcome customers and introduce your product or service to the world. You can stand out from the crowd and draw in more customers with a well-designed website. 93.5% of internet users worldwide have purchased anything online, according to Opti Monster. Having an online store allows you to reach a wider audience.

Successful businesses understand the importance of maintaining a positive online presence, which may lead to increased sales and client loyalty. You may increase the number of people who learn about your business, visit your website, or are already acquainted with your brand thanks to their good experiences and who will then go on to tell others about you by writing reviews and sharing their opinions on social media. This method allows you to expand your business internationally without leaving your home. The shackles of a single market are off your shoulders. If you want to increase your company's potential for profit in the online market, you need to know how to build an e-commerce website.

Sources:

·         https://spyro-soft.com/blog/ecommerce-business

·         https://www.devwerkz.com/blog/10-reasons-why-your-business-needs-an-ecommerce-platform/

·         https://www.cloudways.com/blog/what-is-ecommerce/

·         https://discoverydesign.co.uk/blog/post/5-reasons-why-ecommerce-is-so-important-for-your-business/

·         https://www.investopedia.com/terms/e/ecommerce.asp