If you are considering of starting business online, it will involve so many processes from ecommerce hosting to complete live ecommerce website that will make you think that you would rather stay out of it. But you need not worry because we have brought you all you need to know about E-Commerce through this article.
History of E-Commerce
The history of E-Commerce can be traced back to 1991 when internet was made more public and its commercial use started expanding and since that time, internet has become a residence for traders of all sorts.
When we talk about the history of E-Commerce, it is important to mention eBay and Amazon, which are one of the first e-commerce websites that allowed traders to expand their business all over the world and allowed easy electronic transactions, turning conventional markets into modern markets. It is because of these founders of e-commerce that we are presently enjoying the advantages of e-commerce sector and internet retailing.
Brief Introduction of E-Commerce
E-Commerce, also known as, electronic commerce or e-shopping, refers to a process through which commercial transactions can be carries out electronically through technologies such as Electronic Funds Transfer (EFT) and Electronic Data Interchange (EDI). This feature became available to traders in late 1970s and it allowed a platform for organizations and business companies to transact documentations electronically.
At present, the three largest electronic commerce features are Business-to-Business (B2B), Consumer-to-Consumer (C2C) and Peer-to-Peer (P2P) which is about business selling their good to other businesses, consumers transacting among each other and internet users to share their resources over the internet respectively.
Pros and Cons of E-Commerce
In modern era, e-commerce has become a way of life and just like with every other thing in the world, electronic commerce also has its share of advantages as well as disadvantages. If you are planning to plunge into e-commerce, you should be aware of its pros and cons so that you can be successful in your endeavor.
Saving in time is probably the biggest advantage of e-commerce. Now you can transact sitting in far of countries right from your computer screen.
Similarly, you can have access to a wide range of products, even the things that are not available in your country and they can be delivered to you easily.
No matter what the time of the day or year, you can do business online, even if you have a different time zone than the place you are going to transact.
E-Commerce has provided a big platform for marketing and advertising where you can advertise your business or products and can speed up the process of obtaining business out of it depending upon the diversity of target audience that you have employed.
You are unable to feel, try or test the product physically when you are doing business online. This can give way to fraudulent business which can be irreversible sometimes.
Even after all these years, consumers still feel insecure in giving away their credit card information while trying to buy something over the internet.
In physical business, you can get your product right away when you pay for it in most of the cases but there is an issue of time lag buying something from some other country and receiving it.
As you may notice, the disadvantages of e-commerce are far less than its advantages and can be overcome in most of the cases.
What to Take into Consideration for Starting an E-Commerce Business
E-Commerce is suitable for people who want to work in the leisure of their homes, with flexible hours and also by people who want an international target market. In that case, there are some things that need to be considered. Here are a few.
- The first thing you need to consider is the purpose you are creating your website. Put a lot of thinking and effort to create a website that caters to your purpose and not something which you had in mind and its result on paper just didn’t look right. Keep the target audience and its needs in mind and develop a website accordingly.
- You cannot expect your e-commerce business to start making big money right off. In fact, in some cases, it will start with no money but will get better gradually and you will have to remain determined during that time to make it successful.
- Your potential customers cannot find you on their own unless you market your business. You will have to put effort in making your website and business known. These advertising tactics may include search engine optimization, advertising through social media and offline advertising.
Tips for Effective E-Commerce Business
Taking your e-commerce website off the ground is the most critical part. Once it’s done, now you can set your priorities.
- Keep the layout of your website simple. If it has complicated features and processes, it will turn away a considerable portion of your customers.
- The heading is what keeps a customer stay. So it should be such which can attract his attention and shouldn’t be such that would give away all the information or which will bore him.
- Make your payment modes easy so that your customers can find ease of payment. Stress on the reliability of your transactions to make a customer feel secure.
- Cut short the disadvantage of e-commerce mentioned above relating to the lack of physical form of a product by adding clear and visible images of your products. Put options where an image can be enhanced into details for the convenience of a customer.
- Add a section of product reviews in your website so that your customer doesn’t have to go look elsewhere for reviews and have them directly from your website and can also leave one if he pleases.
- Once your website is live, make efforts for its marketing. For a website to be successful, it needs advertising other than search engine optimization as well. Make use of social media and/or offline advertising.
- Although there are other platforms available if you want to start an e-commerce business but the most user-friendly and convenient is WordPress. It is also rapidly increasing in popularity because of its features, easy for search engine optimization and, most of all, free. WordPress can be easily customized and maintained and this thing which started as a blogging tool initially, now also encompasses a powerful way to CMS.
With the immense popularity, E-Commerce has equally high competition and if you engage in this world, you should be prepared for the competition but through our article, you can know of ways with which you can stay on top. The virtual world is evolving rapidly, all to the advantage of the consumers, laying a foundation that will ensure a secure future for generations to come.