Buying and Selling Online With eCommerce
Taking your business online whether that’s creating a website, blogging or social media, can mean new opportunities and benefits for your business. Understand the basics of buying and selling online. Many small Australian businesses come to COG Branding and ask the question, what is ecommerce?
What is eCommerce?
Ecommerce is also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Businesses can operate solely online or use e-commerce as a branch of their sales strategy, because no matter your product or service, there’s a way to sell it online.
Mostly today for small business and brands they utilise eCommerce via their website, and is one that allows people to buy and sell physical goods, services, and digital products over the internet rather than at a brick-and-mortar location. Through an e-commerce website, a business can process orders, accept payments, manage shipping and logistics, and provide customer service.
People today have more access to information and a broader range of products and services online. By having a web presence means your business won’t be left behind. It can help you increase your engagement, grow your customer base, and provide you with a competitive edge.
Using e-commerce
Buying and selling online is known as e-commerce (electronic commerce), online trading or online shopping. Sometimes e-commerce can also involve a good or service being traded for another good or service. As a business, you could offer e-commerce on websites, social media and mobile apps (often known as ‘in-app’ purchasing). There are many ways in which your own brand and business development can include ecommerce. The future is online, especially with finance and online transactions.
Benefits of e-commerce
Having an online presence can provide a range of new opportunities and benefits for your business. Obviously finance and the dollar trading component of running a business is closely aligned with eCommerce, getting finance tips for small business in Australia can be supplied by your accountant or financial advisor. The Australian Government also provide some assistance and how to manage your money. It all depends on the stage of the business and your personal circumstances.
E-commerce can:
- allow your business to be open 24 hours a day, 7 days a week
- allow your customers to be able access your products or services anywhere, anytime
- help you market your products and services
- increase customer engagement.
It’s important that businesses do their research before creating an online presence to ensure they choose an option that is useful and targeted to their business product.
Options for taking your business online
Some of the options for going online are:
- creating a website for your business
- opening up an online shop or store, or trading in an online marketplace
- blogging
- using social media to reach and communicate with your customers
- using digital media channels, such as video hosting sites.
It’s important you do your research before creating your online presence to ensure you choose an option that is useful and targeted to your product or service. Each online option has pros and cons. Consider the goals of your business, your business model and what you sell, before you decide which approach is best for you.
Directories
Online directories may suit your business if you just want to list your business’s contact details online. It also allows you to promote your business in an online space where your potential customers already are.
Social Networking Sites
Social media can be an important part of your online presence if one of your key requirements is to promote your brand and business. The different channels can help you engage with your customers, generate conversation and may improve your chances of building customer loyalty.
eMarketplaces
E-commerce platforms provide a way for you to sell your products online and can have a range of features like inventory management and analytics. If your goal is to sell products online, joining an online marketplace may meet that requirement without the need to create your own ecommerce website. For the most part, this and the other areas of eCommerce will all be very closely related to how you
Websites
A website can be a useful way your business can be discovered. Websites come in different types, each serving different functions. If you want to sell products or services online, an e-commerce platform may work for you. If you want a website to inform your customers where you’re located and what products or services you supply then a brochure website might be the right fit. There is a wide range of website builders and choosing the right one can be difficult. Understanding your business is an important step in selecting the right website builder.
Checklist for business e-commerce
If your business offers products or services online, ask yourself the following questions:
- Do consumers need specialised software or hardware to trade with you?
- Are contract terms for purchases clear, accurate and easily accessible by consumers?
- Have you taken appropriate steps to protect consumers’ privacy?
- Have you provided consumers with payment mechanisms that are easy to use and offer appropriate security?
- Are consumers informed about any specific laws or jurisdiction applicable to transactions with your business?
COG Branding will help buy and sell online with e-commerce. We’re eCommerce specialists developing websites for online trade and integrating eCommerce platforms and financial technology softwares. We research solutions and provide aftercare service for your business.
