With the advent of e-commerce, client interaction has completely changed for businesses. Whether you are setting up a new online store or upgrading an existing one, knowing the basics of e-commerce, business models, and marketing strategies will work to your advantage. Here are the important aspects pertaining to the establishment, launch, and marketing of an e-commerce business.

Selecting a suitable e-commerce platform comes before the launching of your online shop. Some of the most popular websites to build your store on are:

• Shopify
• BigCommerce
• Magento
• WooCommerce
• PrestaShop
• Opencart
• If costs are your concern, consider Magento, WooCommerce, and Opencart for great free or low-cost deals. On the other hand, Shopify is affordable, and for a small premium, they offer easy-to-use features which are perfect for businesses looking for simple solutions.

E-Commerce Business Models

Knowing the different modelspreneur will help you configure your e-commerce strategies much better. Here are the most used ones:

B2B (Business-to-Business):

This involves businesses selling products or services to other businesses. Rest items can be purchased from IndiaMART or Alibaba.

B2C (Business-to-Consumer)

This is perhaps the most common model where businesses sell to customers directly ( e.g. Amazon, Zappos).

C2C (Consumer-to-Consumer):

Consumers selling directly to other consumers. This can be exemplified by OLX and eBay.

C2B (Consumer to Business):

In this model, the consumers offer goods and services directly towards businesses, as in the case of freelancing sites such as Upwork or Freelancer.

Marketplace Model:

Think of Amazon or Flipkart; both platforms allow multiple vendors to sell their products on one platform, thus providing more options for buyers.

Launching Your E-Commerce Store

After choosing a platform, there are sometimes steps required when launching a store.

Hiring a Programming Team:

When developing a custom e-commerce store, engaging with a highly skilled programming team is crucial. Make sure that you cover everything that is important so that the store meets your unique needs.

Using Pre-Built Platforms:

If you are on a shoe-string budget, widely available Magento or Shopify can be up your alley. These solutions are cost-effective, easy to set up, and come with time-saving built-in features.

Payment Gateway Integration:

To receive payments, you will require a reliable payment gateway. Some of the alternatives are:

• CC
  Avenue
  Paytm
  UPIBanks

The most important things when running an E Commerce Store

To achieve success in the long run, be sure to follow the best practices:

Customer Friendly Policies:

Trust your customers by offering easy to understand policies for return, refund, and shipping.

Data Security:

Be respectful of customers’ sensitive information such as credit card numbers. As a business owner, ensure that the site is secure to build customer trust.

Responsive Web Design:

Your e-commerce platform needs to be mobile-friendly. Many users engage in shopping using mobile devices so it is essential to ensure a smooth experience on smartphones.

Use Analytics for Continuous Improvement:

Make use of tools like Google Analytics and keep tabs on how your store is performing. Understand the shopping patterns, lost sales opportunities and take strategic actions to improve their shopping experience.

Effective E-Commerce Marketing Strategies

Marketing is an important component to capture and keep the customers loyal to your brand. Here are some strategies that can be used to market your online store.

The E Commerce Marketing Funnel:

This funnel consists of four stages as follows:

Awareness: Make your brand known and introduce your products.

Interest: Gain attention of potential customers by advertising or visits to your website.

Purchase: Convert the customers that land on your site to paying customers.

Repeat: Gain loyalty from existing customers and encourage repeated purchases.

Remarketing and Retargeting:

If a consumer has shown interest in purchasing a product but hasn’t bought it, they can be targeted through remarketing ads. Using Google and Facebook retargeting does keep you on the top of their mind.

Affiliate Marketing:

Give your advertising partners a chance to promote your product through a referral system. They will earn a percentage of commission for sales referred which is a helpful strategy for expanding your market base.

Social Media and Influencer Marketing:

Leverage influencer promotions on Instagram and YouTube to get their followers interested in your store. Offering discounts or special deals to their audiences can help convert them to customers.

Email Marketing:

Email marketing is very useful for post-purchase follow-ups, retention, and recovering deserted carts. Use of personalized emails creates an impact which encourages repeat purchases.

Search Engine Optimization (SEO):

Ensure your online store has SEO worked on it. Focus on writing engaging product details and use of relevant meta tags, as well as schema markups, which improve the visibility of your products.

Content Marketing:

Provide relevant materials, like how-to videos, informative blog posts, and buying guides that meet the requirements of clients. These builds credibility and increases the chances of sales.

Increasing Engagement with Rewards and Customer Data

Personalized Marketing:

Adjust your marketing strategies with the help of consumer data obtained from Google analytics. This includes targeted offers, discounts, and other marketing promotions.

Reward Systems:

Offer redeemable points, discount codes, and free shipping to repeat customers and new clients referred by existing ones.

Data Capture:

Obtain emails, browsing behavior, and other useful client information to better enhance future marketing campaigns and guide product improvements.

Broadening Sales Channels:

For better reach, consider selling through third party sites like Amazon, Flipkart, or Facebook Stores. In addition, selling through your own e-commerce website will also be beneficial.

Adopt Technology:

To retain a competitive edge and improve the shopping experience, embrace the use of emerging technologies including voice search and marketing automation.

Conclusion

Launching a successful e-commerce business requires careful planning, execution, and continual improvements. Every step, ranging from selecting the right platform to enforcing the proper marketing strategies, is critical in capturing a customer’s interest and increasing sales. Following best practices, utilizing analytics and focusing on the customer experience will allow your e-commerce store to grow in an ever increasing competitive environment.

Categories: Digital Marketing Advance