E-commerce is an electronic medium or internet medium where buying and selling of the goods takes place in exchange for money. E-Commerce changed the way we live, shop and do business. E-Commerce is available all day and night, the speed of access, the wide availability of products and services for the consumer.
Types of E-Commerce
Before starting any ecommerce store you should have the knowledge of how ecommerce can be used. There should be a defined goal. There are different types of ecommerce categories. Every category has its own benefits and challenges.
- Business to Business (B2B)
- Business to Customer (B2C)
- Customer to Customer (C2C)
- Customer to Business (C2B)
Business to Business (B2B)
A business who sells their services or products to other businesses is known as business to business (B2B). One company sells their products or services to other companies, such as wholesale distributors who will sell products or services to retailers. It sounds like B2C, but B2B is different from the B2C process. Business to business is a longer sales cycle but higher order value and more recurring purchases.
Business to Customer (B2C)
Business to Customer (B2C) is a common ecommerce model business where a business directly sells their product or services to the customer. The consumer demands, browses and places orders through an ecommerce website. Popular business to customer examples are Amazon, Flipkart, Myntra etc.
Customer to Customer (C2C)
Customer to Customer is a model in which customers directly interact with each other. No other third party is involved in the selling or buying but the platform provided by the third party. A good example of customer to customer ecommerce is classified ads. OLX and Quicker use this ecommerce model.
Customer to Business (C2B)
This is the reverse of the business to customer model. It allows a customer to sell their product or service to a business. This model has a competitive nature because of the price. Every individual has its own price. So there is more competition over price.
Here are the steps of an E-commerce blueprint to launch a successful e-commerce business:
- Type of Product You Want to Sell
- Market research and preparation
- Create a business plan
- Register your business & brand name
- Designing the company identity
- Create your online store
- Choose your sales channels
Let’s dive in:
Step 1: Type of Product You Want to Sell
It is the very first question for every ecommerce business what product or service you want to sell. This is the most challenging step in every business. It should be defined clearly with a goal. Your success depends on your choice of product selection. While selecting a product, you should be very clear what value you are giving to the customer. You should consider the legal issue of selling, market demand, shipment charge, etc.
Step 2: Market research and preparation
After finalizing your product category, you have to know your market. Demographics and customer behaviour of your target market is important. You have to understand how customers buy a product or service. Market research helps you to identify common obstacles in selling. Some SEO company in Mumbai provide services like market research which can help you to understand market and customer behaviour.
You just need to research around two methods;
- Primary research (Qualitative and Quantitative Research)
- Secondary research (Public sources, Commercial sources, Educational Institutions)
Step 3: Create a business plan
Why should your ecommerce business have a business plan? Business plan is the strategic document that clarifies your goal. Some write points and expand their plan. Look at those three resources; financial, physical, and human.
A business plan should include:
- Description of your products
- Set your goals
- Identifying your target audience
- Explanation of your competition and how you stack up
- Overall growth potential
Step 4: Register your business & brand name
Starting your own ecommerce store requires a lot of energy and time and of course patience. After you have penned down your business plan and model, you need to register your ecommerce business. Business registration is the first step towards your dream of setting up an ecommerce business. A Private Limited Company is supposed to be the best form of organization for an ecommerce store.
Step 5: Designing the company identity
Your business should have some particular brand guidelines where color, text, tagline, font etc should be set. People will easily recognise your brand through these significations. Create a unique logo that clearly defines your business. You are not only making your website attractive, you are also making your brand remarkable. Fix a color theme. Color increases brand recognition by 85%.
Step 6: Create your ecommerce store
All done. Now set up your ecommerce store. Your store should be compatible and user friendly. It’s all about how you design your ecommerce store website. Your focus should be on sale so keep your design clear, clean, and simple. Creating an ecommerce store is not easy, SEO agency in Delhi help businesses to create their store. Once you work with your branding, it will help build trust with your audience. Think like a customer, then design your site in order to meet the customer’s needs. Make product categories and navigate pages, it will be easy for your customers to find what they’re looking for.
Step 7: Choose your sales channels
Last but not the least, find the sales channel for your store. It depends on your product type and targeted customer base. You can sell your product in different marketplace like Amazon, FlipKart, eBay etc. Facebook and Instagram have an option to sell products. Create a page with your store name. It is a great place to sell if you have a large number of followers on your social media pages. SEO companies in Delhi provide social media marketing services to brands like yours.
Setting up your ecommerce store is not only about adding products and content to your store, it is a fully loaded business with complication and strategies. You have to strategize your business in all these steps for an ecommerce blueprint. SEO companies in Delhi provide services like creating ecommerce stores, marketing research and social media marketing.