Over 90% of Americans have access to the internet or at least own one internet-enabled device. 70% of American adults who have access to the internet log in to their favorite sites daily. The internet is the largest global marketplace from a business or a marketer’s perspective. Businesses have discovered the impact of e-commerce on their bottom line. According to Forbes, 55% of start-ups have adopted a digital business strategy, while 89% of established businesses connect to their customers through online channels. That means it is time to learn how to start an e-commerce business if you follow trends in your industry or want to create a competitive edge for your business. Here, you will learn the basics of an e-commerce business and how to start and grow one. What is an E-Commerce Business?
An e-commerce business refers to any business that sells goods and services through the internet. The e-commerce business model also includes all transactions and payments through the internet or mobile platforms. Entrepreneurs who dare get out of their comfort zone can start one of three types of e-commerce businesses.
E-commerce businesses may include:
Business to Consumer (B2C)
B2C is a business that sells goods or services directly to the consumer. An example is an online electronic store that advertises its goods online, accepts online payments, and ships the product to the end-user.
Business to Business (B2B)
A business-to-business e-commerce is a venture that sells goods or services to other businesses. Software developers that sell their programs online are examples of business-to-business e-commerce models.
Consumer to consumer (C2C)
A consumer-to-consumer e-commerce model covers consumers who sell their used goods to other consumers. A car owner who sells a used car online is an example of a consumer-to-consumer e-commerce model.
The various e-commerce business models provide opportunities for any willing entrepreneur to start and grow an online business. But how do you get started?
The first step of starting an e-commerce business is creating a website. However, in order to start this process, there are a few basics that any online entrepreneur needs to understand.:
- Website building platform
A good starting point is picking the right platform. There are two main platforms:
- Content Management Systems (CMSs)
Most start-ups and medium enterprises use the CMS platform as a starting point. Among businesses that use CMS, 42% use WordPress which is the platform this article will be focusing on as the starting point for your e-commerce business. Follow the steps below to get started:
Choose and Customize Your WordPress Theme
A WordPress theme defines the general appearance of your website.
Add Products
Product photos are the main sales and marketing tools for any e-commerce business.
Once your website is set up, you can begin promoting your products and making your first sale. In order to do this, you’ll need to make your products visible to online users. Just like in the conventional marketplace, using good displays, images, and sales language attract customers. Follow the tips below to promote your products:
- Start a conversation on social media about your products
- Advertise a discount coupon
- Don’t put off starting, even if it’s with a more basic version of your idea
Do not fear small beginnings. If your product line is limited, that’s still okay. You can add other products as you see the demand along the way. Slow and steady wins the race.
The only way to make it in the e-commerce business model is to get started. Start today and grow.