Types of Ecommerce Models:
Ecommerce Models generally fall into one of these four categories:
Business to Consumer (B2C)
These are straightforward: the business sells its product or service directly to customers who most likely have no interest in reselling.
Business to Business (B2B)
In this case, one business sells a product or service to another business. This could be to help that second business produce its products, maintain its facilities, connect with customers etc.
Consumer to Consumer (C2C)
C2C e-commerce refers to a sale from one consumer to another. This happens frequently on auction sites.
Consumer to Business (C2B)
When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).
Examples of online stores
Real-life use cases of Ecommerce can look very different depending on the nature of the products, services, businesses and consumers involved. Here are a few examples you may already be familiar with:
These transactions omit the middleman so that businesses sell their (usually tangible) product to the customer directly.
One business sells its products in large quantities to another business that functions as a retailer, selling to customers the amounts they need.
This method involves a store that markets products that it does not manufacture or stock but has shipped to customers in fulfilment of their orders without ever coming into contact with those goods directly.
This involves regular, automatic payments for a product or access to a service that only terminate after a customer requests cancellation.
Goods that can be held, require inventory replenishment and need to be delivered to customers using some form of transportation are defined as physical products.
Digital products like music, ebooks and online courses, have no physical form. They can be purchased and/or licensed for use as many times as the owner of the content specifies.
These are skilled actions that a consumer pays a provider to perform for them which may or may not be accompanied by either a physical or digital product. These can include consultations, tutoring, engineering and accounting.
This modern fundraising technique involves huge groups of people being encouraged to contribute small amounts of money to help a new project come to life. Often this is done in exchange for an early pre-order or some reward.
What is inbound marketing?
Rather than reaching out to potential customers with an advertisement in the middle of their favourite show, Inbound Marketing involves the creation of outstanding content that adds value to customers and makes them interested in learning more. It’s not “one easy trick” that will make your business go viral, it’s actually a series of well researched and executed steps that show customers that you don’t just have something to sell them, you have value to offer them. Once their attention is won, you guide them gently through the process of discovering what makes your business unique, first purchases, building loyalty and perhaps even sharing your content with others it might be of use to.
What is WooCommerce?
Turn your website into an online store instantly with WooCommerce. Add the WooCommerce plugin to any WordPress site and set up a new store ready to accept secure payments, configure shipping options, input variable products of any shape and size or setup tickets or subscriptions ready to get your business pumping. From subscriptions to gym classes to luxury cars, WooCommerce is fully customisable. Also, WooCommerce allows users to add features and extend the functionality of your store with official extensions from the WooCommerce Marketplace. Manage your business on the go with the WooCommerce Mobile App. Create products, process orders, and keep an eye on key stats in real-time. WooCommerce is developer friendly, too. Built with a REST API, WooCommerce is scalable and can integrate with virtually any service. WooCommerce gives you the power to design a complex store from scratch, extend a store to have more sellable options, or simply add a single product to a WordPress site — Make it your own with WooCoommerce. Talk to use today about starting to build your forever-online-store.
Looking to boost your online store performance? Have a go at these ideas:
Capitalize on user-generated content (UGC)
User-generated content refers to the posts, videos, pictures and more that customers produce which can help promote your brand. This can be unsolicited but a smart campaign can encourage new and old customers to spread the word about your business at little or no cost to you.
Build a loyalty program
Loyalty to a business comes in many forms but most would agree that it has a major impact on sales and overall success over time. By putting time and effort into the creation of a loyalty program, you can show existing customers appreciation, encourage them to make future purchases and increase their sense of community involvement.
Invest in live chat
Customers like feeling listened to. If you have enough staff to have someone answer questions on your website, that would be ideal. Barring that, you can program a chatbot to answer your most frequent questions with a high level of efficiency. Anything beyond the chatbot’s expertise can be passed on to you or another human agent.
Cater to the shopping cart
Abandoned shopping carts represent the sales that almost took place but slipped away at the last moment. As a business, you need to do everything in your power to make the path from the discovery of your product to the final purchase as smooth as possible. You can do this by having a return policy that’s easy to understand, delivering outstanding support to customers at all stages and offering a money-back guarantee so they have nothing to lose.
Implement a responsive website design
Designing solely for desktop users isn’t a viable strategy for an Ecommerce business aiming for growth. With responsive design, you can also reach the many people who use the internet primarily via mobile devices and deliver an experience that’s as impressive as what they would get on a larger screen. As an added benefit, you can gain a better Google ranking by having a mobile-friendly site, too.
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