eCommerce is something that is growing with ever glowing rates right now, even in this time of a Global Pandemic. Knowing that there are a lot of questions that many people have about eCommerce, we decided to answer some of the most common questions that many people have like “can it make me rich?” So read through as we go through and answer some your queries in-depth, So without further ado, here we go
Can Ecommerce make you/anybody rich?
Startin off with the infamous eCommerce question about getting rich through eCommerce.“Yes”, e-commerce can make you or anybody rich as long as they are working to take it seriously and put in the hard work. We will talk about this in length as we go on In the article
There is literally no limit to how much you can earn through eCommerce. Big companies like Amazon millions of dollars every passing day as you might be aware of. But, how much can you earn as a new eCommerce store. Well, that holistically depends on how you manage to stuff and orient your site. It could take you months to actually earn a $100 or you could do it a comparatively lesser time. But, remember there is no magic wand that can just make you hundreds of thousands of dollars and build a steady stream of income. You will have to conduct your research yourself and learn about SEO, PPC, backlinking, inside links and much other stuff that matters yourself
you will have to take your time out of your already tough schedule and assign a few hours to search even if you are tired from work and just came home, so don’t expect a silver spoon.
How does earning passive money through eCommerce work?
E-commerce and the online market place has given us some of the best ways to set up passive income streams. And literally anyone can benefit from them. Ecommerce within itself brings along many business models like dropshipping and affiliate marketing which are also great ways of passive income if done right. But none of these in any way start bearing fruit in the early stage. In fact, like everything else good in life you do have to put in the hard work. But, nonetheless, they do have their conveniences like working from home and very little capital investment.
Should you join an eCommerce learning program?
Well, this is completely up to you. In essence, there are some great eCommerce teaching programs that can actually teach you some valuable stuff, that is if they don’t turn out to be a scam. You have to be careful of scammers cause believe me there are a lot of them out there especially trying to sell courses. A simple sign you can identify them is they simply make promises that sound to good to be true, like” learn how to make a million-dollar in the first month of doing eCommerce”, Advertisements like these are a big no-no cause as they say if something sounds too good to be true, it probably is. These courses will rob you of your money without teaching you any good.
Do your research before you actually join. And see for yourself which guy seems like the one who can help you on your journey. A course that we’d recommend is project 24 by incomeschool, believe me, which is a great course with tonnes of value. But, anyway don’t rush into buying a course and do your research
. On the other hand, if you can’t afford any of these programs due to financial strains. it’s completely fine. You just have to keep reading blogs thoroughly and as I said before doing your research consistently. And, you don’t have to worry as there is way more information out there, available for free then you will ever need.
Why is eCommerce important for small businesses?
E-commerce has allowed a lot of small businesses to become known and popular. Which ultimately leads to familiarity with people and a higher interaction by the potential customers. Moreover, how would a client/customer get to you if they don’t even know that you exist. The eCommerce platform also helps establish trust as people will know more about you through your commerce platform. You can also take reviews from your customers online, take their suggestions and, and make improvements. Moreover, you can interact with your customer base on a more personal level knowing what they would like and offer them special offers and coupons to promote your brand or follow through with any related action
This also gives the business a great way to promote new products and services that they are hoping of introducing. Which can lead to a great launch of the product/service as people will be aware that you are introducing something new. This is also what’s called digital marketing. Which, without a doubt has become the most effective way of marketing nowadays. Simply put, digital marketing refers to promoting your product/service/brand using various platforms. The platforms could be PPC advertising, online marketing, SEO, or anything that makes your product known. IF you want to know more about digital marketing, we have an article written on that “Why is digital marketing important? 2020” which explains what digital marketing is and why it’s so important.
Ecommerce levels ground between big and small businesses
Online marketing provides small and medium-sized businesses to actually compete with the big guns in the industry. As they can also perform and attract the audience through in the same manner as the big companies as this is not much capital intensive
Big businesses in the eCommerce space don’t have as much of a headstart as they do in the real world. And small businesses can also hope of competing with them in the online space. As the online space is not as capital intensive as the real world. Which takes care of the biggest barrier to small businesses to achieve the state they want. The online space being less capital intensive helps in a lot of ways. It helps people to focus more on customer service and actually innovate and make products that matter and provide actual value.
Converting people into customers
Digital marketing actually converts people into customers. The actual result of online marketing is judged by the rate of conversion which involves SEO, PPC and much other stuff. As we discussed in the prior paragraph having an online platform raises awareness. And once they know you, you can use various techniques to get them hooked. You could offer them a 10% discount on their first purchase. And then impress them with the quality of your products and service.
Way more value then it costs
Ecommerce cost amounts to nothing when compared to the value it provides. It allows you exposure to literally anyone who has internet. People can access you 24/7 and people are way less hesitant to ask questions through these platforms. Moreover, if you have a good shipping/delivery option, you could be looking at an increase in sales. And this could be exponential depending on how you market. You should, as an eCommerce business, also have a good option of payment channels so that people feel comfortable by paying through a familiar channel. The cost-effectiveness of eCommerce can be inferred by the Gartner’s digital marketing spend report. According to which 40% of businesses said that they were able to make considerable savings just by using digital methods of marketing
Moreover, according to Google, companies using digital marketing strategies will have 2.8 times better revenue growth expectancy. Moreover, small and medium-sized businesses will also have a relatively higher chance of 3.3 times to expand their workforce and business.
eCommerce also helps to interact with people on their phones To start off, 91% of adults in the U.S.A always have their mobiles within reaching distance. Mobile phones are becoming more and more important part of daily life each passing day. And hence are a big influence on people’s purchasing decisions. So, if your eCommerce side of the business is going well, you could also consider making a phone application, which your customers can conveniently access.
The power that social media has nowadays cannot be ignored. It is used by billions of people every day who talk, interact, like and subscribe to whatever it is they like. So, having a social media presence is also a must-have for any business that is thinking of actually promoting itself online. You then also link and promote your official eCommerce site through these platforms. But, you do need to keep posting interesting things so that they are likable to everyone. A single post if went viral can bring you lots of attention and make you literally world-famous. Moreover, you can also use social media influencers to review and rate your products and services. The influencer marketing if done properly can also bear a great level of fruit and bring you actual related traffic.
These social media platforms also promote impulse buying. You can attract people to your website by showing cool photos and offering discount offers. People might see what they like and purchase your stuff while they are just randomly scrolling down their Insta or any other such platforms. It’s just so easy nowadays
Convenience for customer
This is by far the biggest reason for the recent popularity of eCommerce. It’s just so convenient. You can shop 24/7, 365 days a week any time you want. You can go through what you like at 1 A.M in the morning and add whatever you like in your cart. And book it for a delivery whenever you feel like it. This is one of the many things of eCommerce that makes eCommerce more convenient than the usual shopping experience. Which is another reason for its increasing popularity. Moreover, many times people just don’t feel like going out but are forced to because they have to buy something. But, eCommerce deals with that problem once it for all.
What will be the future of eCommerce be like?
Ecommerce is without a doubt growing at an overwhelmingly flourishing speed. It is estimated that by the end of 2040, 95% of purchases will be made online. But this does not mean the end of traditional retail stores as we know it. As that too comes with its shares of pros. If you want to know more in-depth what eCommerce has for the future, Shopify has a great article on that “What Is the Future of Ecommerce? 10 Insights on the Evolution of an Industry”. So do check it out if you are interested.
Can you make money through blogging?
The answer to this is an absolute “yes”. There are quite a few ways like affiliate marketing and CPC that you can actually monetize your blog. So, without further ado let’s look into a few of the most important:
Some more ways you can earn money through blogging
- Monetizing CPC or CPM. CPC refer to cost per click and you get paid for every time a single one of your reader clicks the add whereas, CPM stands for cost per 1000 impressions. This is an add that pays you a fixed amount of money depending on how much viewership your add gets. You can do this through Google AdSense.
- Sell Private Adds. Once you have enough traffic, advertisers will themselves reach out to you and ask for a space on your platform. But this doesn’t mean that you can’t reach out to them. This will also allow you to set rates that you like. This could come in the form of banners, buttons, or links.
- Sponsored Posts. You can also earn money by writing sponsored posts where you can write and review products.
- Sell digital products. After you have a viable audience, you could sell them your ebooks and online courses. Where you teach them what you know about your field and actually provide value. You can start off by offering them free ebooks and just putting out whatever you know for everybody to benefit from.
Why is eCommerce so popular?
Can make anyone an Entrepreneur: eCommerce has the power to literally everyone to become an entrepreneur. Which is a great thing and as it allows people to make money doing what they love. Lets elaborate. for instance, you are a stay at home who just loves to make homemade jewelry. You make a website post a few articles about how you go through with what you do and put whatever you make for sale anyone who actually likes it. And there you go, you are an entrepreneurs sitting at your home. This isn’t just the case with jewelry, it is literally the case with everything as you can start doing this part-time, whenever you get the free time unless you are ready to fully commit.
Not capital intensive: Huge investments are the biggest reason that stops many brilliant ideas from ever becoming true. But, this is where eCommerce comes through as commerce doesn’t in itself any sort of big investment. People can set up a good passive income whilst sitting at home and even compete with some of the biggest names in their fields if they are good enough.
Convenience: This is by far the biggest reason of the recent popularity of eCommerce. Its just so convenient. You can shop 24/7, 365 days a week any time you want. You can go through what you like at 1 A.M in the morning and add whatever you like in your cart. And book it for a delivery whenever you feel like it.
Last, but not the least
Low costs: As businesses don’t have to incur many of the costs like traveling costs, maintenance costs and hire fewer employees. stores have started offering special offers at lower prices. Businesses online are also now focusing more on providing more value as they know the amount of impact positive reviews and good worth of mouth can have on the online market place. Ecommerce businesses are also quite environment friendly when compared to our conventional retail stores.
What are the uses of eCommerce? How is it used
Business: The most important and prominent use of eCommerce as we all know is buying products and services online. It is a platform that allows you to stream through products you like 24/7, 365 days a week. It also reduces the struggle of actual transportation to get our stuff as it sometimes just becomes inconvenient. Businesses like Amazon, Uber, and Amazon not only raise the overall standard of living but also give provide employment. For instance, Amazon has more than 750,000 employees. Businesses like these also help the overall economy of the country they operate in as well as the overall world economy.
Technological advancements: As we have already seen through businesses like uber, amazon, and Airbnb that these businesses are also great jumps when it comes to the technological side of the matter. People are trying to innovate and make more technologically advanced businesses as apparently those are the types of businesses booming as of now. Ecommerce has also given rise to developments in inventory management systems, and automated data collection systems.
Promotes new businesses: E-commerce has the power to literally everyone to become an entrepreneur. Which is a great thing and as it allows people to make money doing what they love. Lets elaborate. For instance, you are a stay at home who just loves to make homemade jewelry. You make a website post a few articles about how you go through with what you do and put whatever you make for sale anyone who actually likes it. And there you go, you are entrepreneurs sitting at your home. This isn’t just the case with jewelry, it is literally the case with everything as you can start doing this part-time, whenever you get the free time unless you are ready to fully commit.
Will eCommerce replace physical stores?
Well to answer that, we like many other people think that it will probably just be a mixture of both. Ecommerce will develop and become more convenient but will never fully replace retail commerce at least for now as it has a completely different kind of utility ( feel )
What Is The Difference Between Online And Digital Marketing?
Online marketing and digital marketing are terms that confuse many people that first hear them. Are they the same and used interchangeably, if not, what are the difference?. Knowing these terms will not only help you understand what the what these terms are but will also help you increase your marketing vocab but will also help you make a better sales pitch. So let’s get on with it. Digital marketing is a broader term that contains itself many things including internet marketing. Or in other words, internet marketing is a subset of digital marketing
Is eCommerce good for the environment?
As you might have already figured out, commerce really helps in decreasing the overall polution. As many stores are shifting their whole businesses online. All of the pollutions that might have been caused becomes more limited. Which helps form a better externality to the environment. eCommerce also reduces the overall costs for the businesses in a huge way and reduced business infrastructure obviously means less waste
Dropshipping and Affiliate Marketing! which one’s better?
They are both great business models, but many experts say that the winner is “Dropshipping”. Affiliate marketing is without a doubt a great business and calling dropshipping the winner does not mean that the Affiliate marketing is not good anymore. It is still one of the best ways to earn money once you start getting traffic on your platform but the biggest con that separates the two of them is that in dropshipping you have to rely on another person’s business. This is the reason why you shouldn’t solely rely on affiliate marketing and try something dropshipping related too. Here are a few more reasons why Dropshipping’s the winner:
- Dropshippers can set their own profit margin which is not the case in affiliate marketing where you get a set percentage of commission
- Dropshipping also means using your traffic to benefit your own self and not just sending your traffic to other sites so that they can have the bite that you could have had for your self. Moreover, once they are on your site you can pitch them even more products that will not only provide them value but also give you some liberty to mold your traffic wherever and however you like
- Dropshipping also helps you set a brand and if you do well enough it will also lead to a drastic increase in your traffic
- You can also use affiliates to bring even more traffic to your site and raise awareness for your developing brand
Why You Should Use Voice Searches in eCommerce?
Have you ever asked Siri, Alexa, or Google assistant to look something up for you? Well you, my friend, were using voice search. It’s an ever-expanding function that will eventually play a very important part in the eCommerce world. To elaborate its importance here is a fact about it. 20% of all of the search queries are voice searches. Moreover, adapting to this new upcoming development is a necessity for any eCommerce business that wants to stay in the game.
Is SEO essential for eCommerce businesses?
Yes, yes and yes !! SEO or search engine optimization is one of the most essential part of running a successful eCommerce store. For those of you who don’t know, Search engine optimization basically refers to optimizing your website for search engines like Google. So that, whenever someone searches something relevant to what you have published/posted, you are the first thing that Google shows the searcher, no matter where geographically the search is from
Simply put, this means working your way to actually be ranked by google for searches. There are a lot of things, more than 200 of them in fact, that Google considers when it comes to ranking. Google asks questions like how many times is the keyword mentioned throughout the text, what’s the content like… will it really be helpful, does the page have internal links, the quality of the site, who is the writer, is the page linked to authoritative sites, is the site mobile optimized, is it secure and many others. Many websites try very hard to optimize their content to these questions so that they are what google ultimately chooses to show for a specific keyword. This is known as Search Engine Optimization. We have a related article if you want to learn more ” Breaking down SEO writing”.
Hopefully, this article was quite helpful in clearing some of the many queries that you had about. If you have any related questions, feel free to use the comment section below and stay tuned to ecomscoop for more ecommerce related articles