We, as a society, have seen much advancement in our technology during this information age. The levels of convenience within the various aspects of our daily lives have dramatically increased as innovative solutions continue to solve the world’s problems. So much so that individuals can actually start any type of business by simply using a smartphone, a tablet, or a laptop. Today, one could simply tap a few buttons on a screen to start or operate an entire business.
Methods of communication have evolved alongside the advancement of technology. It wasn’t long ago that brick-and-mortar businesses would hustle to gain new customers through numerous methods of advertising; in television, newspapers, radios, word-of-mouth, business cards, etc. And the numbers certainly weren’t as impressive as what our technologies are capable of today.
John L. Holahan started his successful business, Simply Thick, as a plan while striving for an MBA. Now, he is attracting masses of loyal customers. Marketing tools, online communities, groups, chats, and file-sharing online work together to contribute to peak profit potential, as well as initial business operations.
The eCommerce Business Model
In a matter of minutes, one can start an eCommerce business using free tools that are available on the internet. Once you get an online store up and running, it can become a very lucrative business. Billions of internet users browse the web on a daily basis and you can utilize online networks to reach out to these potential customers. Let me emphasize the fact that one can potentially reach millions of potential clients on a daily basis while using a single device, and with essentially little to no prior experience.
Need to Have:
– Market Research
Choose a product that is currently trending in the online market in order to optimize close percentages. It can be a product that correlates with a certain holiday or big event.
– Wholesale Supplier
I recommend contacting a supplier that can give out a commission for every item that you sell for them. And it’s even better when you build a relationship with a supplier.
– Good Timing
You want to create your online store while your product/s are gaining popularity among internet users. During an uptrend, your online store can profit on the first day of it being up.
– Website Builder
WordPress is today’s most popular method of building a website. It’s great for eCommerce websites because of its wide variety of features and widgets that work together to provide a great online customer experience.
– Internet Ads
Like mentioned above, online businesses have the ability to reach millions of potential clients on a daily basis. The big online networks like Facebook and YouTube have billions of monthly active users. And the advertising features that come with these online networks help to maximize results with minimum effort!
Guide to Building an eCommerce Website
- Decide which product you will be selling and double check whether it’s trending.
- Search for your product on a wholesale website..
- Create your product descriptions and cut out the images that represent your product (Mac Guide).
- Gather Search Engine Optimization (SEO) keywords.
- Build your website with gathered information. And double check for any mistakes.
- Run online ads (Facebook and Google Adwords recommended). And figure out a daily ad budget; minimum $3.
- When someone places an order on your website, purchase the same product from the wholesale supplier, then ship it to your customer’s address. Rinse and repeat.
- (Optional) Start an email marketing campaign to reach even more potential customers.
The eCommerce business model has time and time again proven to be a successful one. Selling even one item can reimburse the daily ad budget. And the numbers can scale way up. For example, you are selling one product for five dollars and you are reaching 500 viewers per day. If your close percentage is 50%, you are netting $1250; which translates to a six figure income. And as profit grows, you can spend more on advertising to reach potential customers on an international level.
The eCommerce business model is only one of hundreds of ways to utilize our advanced technology for success and wealth. Isn’t it awesome?
Photo by Artem Bali on Unsplash
