WHY and HOW you should start your Own E-Commerce Business?
- Sep 02, 2020
In this tech-driven era, we are skeptical about if there is someone who has never heard of the term E-Commerce Website Development. Plus, we also know some who are familiar with the word but not about how it works. Hence, we have covered this article that discusses everything about Magento E-Commerce Business Development in detail.
Are you interested in knowing what Magento 2 Website Development has in stores for you, anything related to it, or want an answer to – What is E-Commerce? Dive right in, this article is for you.
How is E-Commerce defined?
E-Commerce describes the digital exchange of currency in return for goods and services. Everything that relates to buying and selling online comes under the umbrella term E-Commerce. Though don’t worry, the term has many spelling variations describing the same act of business.
So, just as the definition is open-ended, there are countless types of E-Commerce businesses that exist. Let’s see what different options the E-Commerce world has in store for you.
Business E-Commerce Models – The Types
Firstly, question yourself about what is E-Commerce. The best way to answer this is by describing and breaking E-Commerce businesses and their types into different models that exist. Here are the three different types of E-Commerce business models that Pakistan Selling Sites are differentiated on;
1. What type of products do you sell?
Every business can be distinguished based on the variety of products it sells. There are four main products that an E-Commerce business might sell, which are;
- Tangible Products
- Digital Products
Technically, every E-Commerce business can click into one or more of these categories. Thus, showing what type of products they are selling to customers.
Businesses that sell tangible products ship products to their customers that they can feel and see. While on the other hand, digital products are something that you can download straight away. They are not something that is shipped.
Moreover, businesses also provide Digital Services like Magento Web Design Services, Graphic Design Services, or streaming services. And finally, E-Commerce businesses also earn commissions via affiliations on blogs and Digital Influencers in Pakistan websites that facilitate sales.
2. Who will you sell the products to?
Next, being a Web Development Agency, we differentiate businesses based on who they sell to. Though this might be common to assume that every business sells products to customers, this isn’t the case always. Sometimes, the customer is another business too. So, before you get confused about who can you sell to, we have listed down the categories;
Businesses that sell physical or digital products and services to other businesses are known as B2B. For instance, this includes manufacturers and suppliers that produce and provide raw materials to other businesses.
Under this category falls E-Commerce Web Stores that sell physical and digital products directly to the end consumers – YOU.
Even though most E-Commerce businesses sell products and services to one of these categories, one may sell to both kinds of consumers too. The only thing an online retailer needs to understand is who they want to sell their products to because it impacts big decisions such as Digital Marketing in Pakistan, Online Advertising in Pakistan, Branding and Graphic Design Services, and shipment.
3. Where will you sell the products?
Lastly, we can also differentiate E-Commerce businesses based on where they sell their products and services to customers. The options are;
These are the Web Stores that the founders or owners use to sell their products to the customer base, on their terms. Such stores are usually built on Shopify Microsoft Dynamics, Magento 2 E-Commerce Development, and WooCommerce.
Businesses that look forward to selling online also prefer tapping into well-known marketplaces like Daraz etc. Technically, for businesses, this retailing is the same as renting a shop in a mall, where the mall handles Online Marketing in Pakistan and drives-in footfall traffic. Hence, you won’t have to bring in customers to shop. However, not to forget, you still have to abide by the rules that the mall has set related to what products you can sell and at what time.
With Social Media Platforms being essential for every customer’s routine, it is easy for them to shop through Online Marketing Websites in Pakistan that show up in their newsfeed. Instagram Marketing Services, Facebook Marketing Pakistan, Pinterest, and Snapchat Marketing have all taken over the conversation about E-Commerce options that big brands use to sell their products.
Deciding on an E-Commerce Platform
Every online retailer needs an E-Commerce store, which is basically just an online landing place where their customers can come to search, learn about, and buy their products.
When it comes to deciding on an E-Commerce platform that you have to use for selling a product online, there are many options. And if you thought that you can survive this digital arena by just selling on marketplaces like Amazon and Daraz, let us tell you that this isn’t feasible in the long run.
No matter what you plan to sell and to which target audience, B2B or B2C, you need to have a self-branded E-Commerce Web Store set up because that is the only way out to get full control over your business, and to stay up in the game of branding, Digital Marketing in Pakistan, revenue generation and customer experience.
So, if you are someone interested in becoming an online retailer and want to get started on one of the best E-Commerce platforms, we recommend Magento E-Commerce Development. And if you are skeptical about if you will nail it, we have covered the most in-depth Beginner’s Guide to Starting on Magento E-Commerce to help you out. Hence, no matter where you stand in the Web Development in Pakistan journey, building, development, or growth, we’ve got your back.
Who can start an E-Commerce Web Store?
The most precise answer to this question is – Anyone can set up an E-Commerce Web Store. Just as anyone can ask about what is E-Commerce, they can also move towards the next step and begin building their very own E-Store, just in weeks or months.
While some businesses are much easy to start as compared to others, and some retailers have more knowledge about the industry than others when first stepping into the industry, the great thing about E-Commerce is that anyone can join the bandwagon; if they have the resources, energy, and capital. Along with other perks, here’s why E-Commerce is preferred by retailers and is the show stopper of 2020;
Low Barrier to Entry
Talking about E-Commerce, it doesn’t matter how limited time or resources you have to invest in a business. There is always something you have to get started.
Years back, entrepreneurs had to get loans from banks or rent out a physical store to set up a brick-and-mortar retail store. Honestly, it was a gamble. And if they missed out on the shot, they would have to pay out sums of money.
However, with E-Commerce, you can set up a Web Store without a warehouse full of inventory. Sounds compelling. So what’s the wait? just get into business right away!
Endless Audience Reach
Brick-and-mortar stores can sell in a limited vicinity, only to those who live nearby. However, with E-Commerce, you can reach your target audience around the globe. Hence, you can now hone in your target audience and sell in your niche, regardless of how specific it is.
Being a Magento 2 Development Company, we believe that with the right resources, and at the right time, anyone and everyone can grow as an online retailer. Opening up an E-Commerce Store to Retail Operations is a full-fledged way to kick-start your business and teaches you valuable business lessons. Though not to overlook, this isn’t just about earning lots of money; it is about turning your ideas and goals into something noticeable, aka an E-Commerce Web Store.
Starting your E-Commerce Business – The Initial Steps
There are countless resources out there to help you Move your Brand Online. Out of all of them, here are a few that we recommend getting started;
Discover a Product Idea
To set up an E-Store, you need to have a product that you can sell to customers. The product can be anything to everything; physical, digital, services, or affiliate links. Now, it is up to you whatever you want to sell, why, and how it gets a competitive edge over what your competitors are selling.
The following step is to begin formulating a plan. If you are new to the E-Commerce world, there might be some aspects you don’t know are essential to consider. So, do you want to identify the pros and cons of the strategies you are planning to ensure that you are playing safe? Read through this blog; How to Create an E-Commerce Website that Sells.
Sign-up on an E-Commerce Platform
Once you have decided on a product to sell and have a business plan in mind, take the next step with us; Sign up on an E-Commerce platform. We’ll begin working on the website you are about to call your Web Store. And if you have decided on Magento as your E-Commerce platform, we are sure that you will enjoy every step of the development process.
Driving your E-Commerce Business to SUCCESS
There are countless ways to drive traffic towards your Web Store. One of the proven ways to do so is to treat your customers as your asset, not just numbers. So, if you are focusing more on numbers, you might be losing sight of some essential aspects of your business – The customers.
Unquestionably, driving traffic to your Web Store helps keep you sailing when you are new and finding your stability, and for that, we recommend checking the guide – Earn your first Online Sales in JUST 2 DAYS with these Super-Effective Ways.
However, beyond this, you seriously need to consider how you can add value to the customer experience so that more and more customers purchase from you. And eventually spread the word about your brand among their friends and family.
Lastly, if you want to go more in-depth to increase your traffic and Increase your Online Sales Conversion Rate, we recommend getting in touch with an E-Commerce Website Development Company in Pakistan.
You have read through this article looking for an answer to what is E-Commerce. Hence, we believe that everything covered in this article has given you a deep dive into the world of E-Commerce. And what options are available for you to tap into it by setting up an E-Commerce Web Store.
Setting up an E-Commerce Web Store is accessible for anyone and everyone looking forward to it. However, there is still a lot in terms of information, knowledge, and resources that need attention. Hence, we recommend, before you jump into it, get in touch with a Magento 2 Development Agency that provides end-to-end Magento E-Commerce Development Services and begin the entrepreneurial journey at the hands of professional Magento E-Commerce Developers!