eCommerce is a term that you’ll probably hear often online, although many can’t seem to understand what it is entirely. If you are one of these people, make sure to read on!
In this article, you can learn more about the eCommerce business and how it can help you earn thousands of dollars along the way.
Definition of eCommerce
Short for electronic commerce, eCommerce is the term used to denote online buying and selling. As this is a rather extensive definition, eCommerce is usually divided into different categories:
According to Product
This model talks about the various items you can sell in your online store. They include:
- Physical products or items that the client can see, feel, and touch
- Digital products that don’t require shipping, just downloading (i.e., software and eBooks)
- In-person services,e., web design or house cleaning services
- Affiliate marketing, which pays a revenue after you make a sale
According to Customer
This business model groups eCommerce stores according to their target customers:
- B2B or business-to-business. This online business is about one company selling to another.
- B2C or business-to-consumer. This is a model where businesses sell products or services directly to the customers.
- B2G or business-to-government. This refers to an online business selling goods or services directly to the government.
According to Venue for Selling
eCommerce stores are also categorized according to the selling platform:
Branded eCommerce Shop
As this is owned and operated by you, the store owner, you can sell your products or services independently.
This is the model that Matthew Lepre uses in his popular Ecom Warrior Academy website.
This can be likened to having a shop in the mall.
Here, the marketplace (Amazon, eBay, or Etsy) can help you get access to clients. As a seller, all you need to do is peddle your products and make money online.
While this is recommended for new sellers, a marketplace requires you to abide by specific rules and has its limitations.
With this, you can sell your wares through social media. All you need to do is use your private Facebook or Instagram account to deal with your buyers.
Once you have determined your preferred business model, you can now proceed with choosing the right course for your eCommerce platform.
Before you get started, you need to have these considerations in mind:
Depending on the nature of your company, your program should have the following characteristics:
- Both online and offline capabilities (the latter is recommended if you want to try a pop-up shop)
- Site embedding so you can append your store to your social media platforms
- Digital product delivery as needed
- Recurring subscription feature for online courses
- B2B sales for wholesale orders
You can go for a hosted platform, which is provided by companies such as Shopify and BigCommerce. With this, all you need to do is pay every month.
While this comes with a certain price tag, you don’t have to worry about full-time services like maintenance, security, and PCI compliance because they’ll take care of it for you.
With a self-hosted platform like WordPress, you have to do the maintenance activities yourself. This is recommended if you’re tech-savvy, but if you’re not, you better stick to a hosted platform.
Apps and Extensions
Should you go for a hosted platform such as Shopify and BigCommerce, you can download an app to help you with your dropshipping business.
These extensions usually cover the following:
- Sales and Marketing
- Branding and Shipping
- Inventory Management
- Customer Service
- Analytics and Reporting
The Benefits of eCommerce
Indeed, there are so many benefits that come with starting an online business.
As per eCommerce guru Matthew Lepre of the Ecom Warrior Academy training course, it is:
Conducive for Sales
Compared to a brick and mortar store, a digital shop allows you to reach people around the country and even the world!
Because of its extensive reach, you can be one of the many eCommerce success stories – just like what you’ll see on reviews on Matthew Lepre’s Ecom Warrior Academy.
Easy to Do
There are many platforms and tools — even a mentorship program — that can help you create your shop.
For example, if you want to start a dropshipping store, you can always try the Ecom Warrior Academy dropshipping course by Matthew Lepre.
A Passive Source of Income
You don’t have to spend a lot of time in your shop just to earn money.
Like Matthew Lepre of Ecom Warrior Academy training, you can sell whenever, wherever, since an eCommerce shop is open 24/7.
How to Start Your eCommerce Store
Contrary to popular belief, you only need a short time to build a digital shop. All you need to do is follow these Ecom Warrior Academy training tips by Matthew Lepre:
Get a Product or Service to Sell
The first step to making money is to get a unique item or service to sell.
You have four options for this: create, manufacture, wholesale purchase, or dropshipping.
While all are good ways to source your items, the best option for new sellers is dropshipping. After all, it’s a low-cost, low-risk venture.
To learn more about this program, read Matt Lepre’s recent posts at Ecom Warrior Academy.
Make a Plan
For your company to succeed, you need to have a set course. With the help of a business plan, you get lifetime access to your objectives, as well as the goals you wish to achieve.
Create Your eCommerce Shop
Now that you’re all ready, it’s time for you to choose a course and build your store!
Grow Your Shop
Even if you can get unique products, you need to know how to market your shop.
The best course is SEO, where you improve your store’s content to enjoy free traffic.
Another option is affiliate marketing, which has been mentioned above. Through this, you can earn money with the help of affiliate links, just like what Matt Lepre did with his Ecom Warrior Academy program.
eCommerce is a good idea for any business-minded person. Whether you’re young or old, you won’t have a problem getting started.
Get direct access to Matthew (and his tips) by reading the reviews on Ecom Warrior Academy today!