What Is E-commerce

Written by Debra Leitl on May 13, 2010. Posted in Ecommerce Marketing

What Is EcommercePodcast Transcript 

I think about that a lot and e-commerce is constantly changing because commerce drives the global economy.

It is very simple, businesses are doing a good job of catching up with technology and technology that was created specifically for commerce transactions.

Why should you care about e-commerce and it’s technology? Very good question.

E-commerce is not simply conducting business online. There are many ways to transact and conduct business that drive this global economy.

Think of how you conduct business face to face or on the phone.

Examples;

  • You go to the bank and make a deposit
  • You go to the grocery store and you swipe your card, sometimes you use cash (personally I am not a cash girl. I like that swipe of that piece of plastic, it makes my life easier and I have less to carry around with me).
  • You go to a gas station, Now that’s true global commerce right there… gasoline.

Each one of those activities represents a commercial transaction. Can you conduct some of those online?

Absolutely.

  • You can make a deposit to your bank online
  • You can purchase certain types of grocery items online and have them delivered
  • You can buy prepaid gas cards online

So, each one of these activities is beginning to translate into e-commerce versus commerce.

Businesses also do business with one another.

You pay for a lease on a new car.
You exchange services (You are a plumber you conduct commerce by making your services available).

Businesses usually send invoices, sometime businesses even are asking for upfront payments especially in today’s economy, because they can’t afford to float payments from customers when they are at risk.

In a virtual world, e-commerce is conducted very similarly, but for the most part in an e-commerce world you prepay for your business service or for your product before it comes to you – you pay for it – you don’t have it in your hand. And there are a couple of reasons, convenience, ease-of-use and the low hassle of it.

You don’t have to spend the gas driving to the store and then while you are at the store you have to make another side trip to a different store to get a different piece. Online, you can do that sitting in front to your TV, drinking a beer and you’re good to go.

Businesses are only as successful as the number of customers that they have on the books. Whether it’s commercial or e-commercial (e-commerce).

So the more people that are using the Internet whether they’re surfing, checking their e-mail, or shopping, the more people businesses have to increase their sales by. There are something like 1.9 billion people online now days, that is a large market to reach out to.

Obviously very few people or businesses have something for everyone. But, you don’t need that you just need to have a niche product or service; identify your target, reach out to them, capture their attention, capture their sale. Sounds simple I now, but it is not, trust me.

If you think about it the Internet is very new technology, ecommerce is even more immature, but it is globally important.

You have to gain your customer’s trust, and a few ways you have to know how to run your business with the ins and outs of setting up your online business to make sure that once you have gained their trust you don’t lose it because you forgot to check a box that said, “Make Sure this transaction is Secure.” or Don’t email this person because they don’t want to hear from you , they want privacy.

Exclusively online businesses rely on e-commerce for their livelihood, that is their business. Businesses that conduct transactions offline have an opportunity to expand the business by incorporating e-commerce. It expands their market potentially to the global level.

All of this

  • e-commerce
  • commerce
  • global
  • niche
  • trust
  • privacy

All of this comes down to one simple thing – selling online is simple in concept but it is not necessarily simple to execute. You have to know the nuances, determine the difference between success and failure, set goals – you don’t have a crystal ball but you can learn from our expertise, from the mistakes that we’ve made, and seen others make.

Coming out of the trenches of e-commerce we are going to give you insights from large, successful, established e-commerce companies with feet both online and in traditional retail.

Unsurpassed expertise.

As you embark on establishing your e-commerce presence there a lot of decisions to be made, planning, and strategy are very important going forward.

Using our resources are going to help get you going in the right direction.

eMentorMarketing is at your disposal, we can help you do everything from marketing, to setting up the type of site that you would like to conduct business on, choosing your products, merchandising them, pricing them, and creating a marketing strategy. All of these tools will help you to take advantage of eMentorMarketing.

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