The global pandemic has given e-commerce an unprecedented boost and forced many companies to digitize. Maybe you are new to online selling as well. You face many eCommerce marketing challenge will come and you will be asking yourself whether you should do eCommerce marketing or not.
If you as an eCommerce business owner need to do eCommerce marketing, so, we would better explain what it is exactly, and how to face eCommerce Marketing challenges. Here we will define to you firstly, what is eCommerce. because, if you don’t know about e-commerce you can never digitalize your business, and never can boost your business.
eCommerce is the buying and selling of goods and services, or the transfer of funds and data, mainly via electronic networks such as the Internet.
What is eCommerce Marketing?
Importance of E Commerce
In digital marketing, e-commerce helps attract customers and brand building, thus generating huge revenues. E commerce business can expand your brand and grow your business. You can use your e-commerce store to expand the range of products/services you sell, grow your business, attract more customers, and diversify your sales.
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Types Of Ecommerce Marketing
There are four types of categories in the eCommerce business, you will fall into at least one of these four ( b2b b2c c2c c2b ) general categories. many companies work together in several of these categories.
B2B – Business To Business.
In the B2B business model, one company sells its product or service to another. Buyers can be end users, but in many cases, buyers resell to consumers.
B2B innovators these days are opening up space by replacing catalogs and order sheets with e-commerce storefronts to improve targeting in niche markets.
As the younger generation enters the era of commerce, online B2B sales become increasingly important.
B2C – Business To Consumer.
B2C companies sell to end users. Since the B2C model is the most popular business model, there are many unique approaches under this roof.
Everything you buy from an online store as a consumer runs as part of a B2C transaction, including clothing, household items, and entertainment. B2C innovators have leveraged technology like mobile apps, native advertising, and remarketing to market directly to their customers and make their lives easier in the process.
The decision-making process for B2C purchases is much shorter than for business-to-business (B2B) purchases, especially for low-value items. B2C companies typically spend less marketing costs on sales but have lower average orders and fewer regular orders than B2B companies and B2C does not only include products but services as well.
C2C – Consumer To Consumers.
The C2C business, also known as the online marketplace, connects consumers to the exchange of goods and services and typically makes money by charging transactions and listing fees.
Online businesses such as craigslist and eBay pioneered this model in the early days of the Internet. C2C companies benefit from voluntary growth from motivated buyers and sellers but face the key challenges of quality control and technology maintenance.
C2B – Consumer To Business.
C2B businesses allow individuals to sell goods and services to businesses. This e-commerce model allows customers to post the work they want to complete. And get the company to bid on the occasion using a website. Affiliate Marketing Services are also eligible for C2B.
Recent innovators have creatively used this model to connect companies to social media influencers to market their products. Elance ( Linkedin, freelancer, up work ) was an early innovator in this model by helping businesses hire freelancers.
The competitive advantage of the C2B e-commerce model lies in the pricing of goods and services. This approach gives consumers the power to name their prices or have businesses directly compete to meet their needs.
Ecommerce Marketing Challenge And Opportunities
If you are starting an eCommerce business, so you will have to be better know about the eCommerce Marketing Challenge and its opportunities. mainly, four types of eCommerce business and each has challenges and opportunities. Knowing which business your idea fits into will help you think creatively about what your challenge and opportunities might be.
E-Commerce Challenges
The e-commerce industry growing at a rapid pace. While many are concerned that this evolution could lead to a decrease in consumer loyalty, other experts believe the opposite will occur. With the evolution of technology, consumers have become more comfortable purchasing online.
They have also developed trust in online retailers, as they continue to provide safe, reliable, and easy ways to purchase products from anywhere. This is especially true among millennials who are increasingly using their smartphones to shop.
With the increase in popularity comes increased risk. Many e-commerce sites are not properly prepared for potential cyber-attacks, leaving them open to possible fraud and identity theft. According to the Identity Theft Resource Center, online transactions account for nearly $12 billion in losses each year. The good news? There are steps businesses can take now to prevent these risks and ensure success in the future of e-commerce.
E-Commerce Opportunities
Online buying has grown exponentially over the last few years. In fact, according to the U.S. Census Bureau, spending on e-commerce grew from just under $30 billion in 2011 to almost $150 billion in 2016. This trend shows no sign of slowing down, and businesses should seize the opportunity to capitalize on this growing market.
As mentioned above, e-commerce presents unique risks to business owners. However, there are several benefits to opening your business to e-commerce and developing a successful strategy to protect against cyber threats. Online retailers can offer better service than brick-and-mortar stores, allowing them to deliver items faster and offer customers discounts on purchases.
Ecommerce Solution
Be ready to tackle any issues that may arise in Ecommerce Marketing Challenge and focus on creating a customer-centric culture. This way you can not only deal with customer service issues, but you can also find what drives your customers and provide them with an online shopping experience that they’ll remember.
- An eCommerce solution that allows customers to order from your website directly from their mobile device or computer!
- A way to allow your customer to pay you using Paypal or Credit Card.
- A way to accept payments is through Stripe or PayPal.
- A way to create invoices for customers who make purchases through your site.
- A way to track orders and inventory levels.
- A way to collect payment information.
Conclusion
We’ve covered the most common e-commerce business models and different Ecommerce marketing challenge. Their solutions, innovation tactics, and examples of eCommerce companies.
We talked about the questions that new ventures need to answer in order to find a niche for success. The plan is important, but innovation does not happen in a vacuum. Now is the time to bring your solution to the world and improve your business based on the feedback you receive.