What is e-commerce?

So what is e-commerce and what does it entail?

E-commerce, 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.

So how does e-commerce works?

In e-commerce, exchanges occur between two parties over some electronic medium, typically the Internet. These exchanges are most commonly transactions between companies and consumers, wherein consumers purchase products and services by credit card payment over a secured website.

What are the benefits of e-commerce?

Extend your customer base

With an online store, it is possible to create an online presence. This means that customers don’t have to drive past your store to discover your store. Take an example of the e-commerce website wish.com It took South Africa by a storm and is one of the top e-commerce sites in South Africa, without being in South Africa.

Customer Convenience

Today’s customers demand convenience to shop from anywhere. Gone are the days where consumers stick to a time to make purchases. So why not when a purchase is on the mind of the customer, enable them to buy from you, at a time a customer prefer?

Saving Cost

With operating cost like staff’s salary and electricity to keep your doors open, e-commerce is the way to go. E-commerce enables you to trade 24/7 and capitalize on the demand for your product at any time of the day. No human intervention is required to sell a product. With less staff, your actual profit goes up.

Secrets of a successful e-commerce site

  1. Don’t rush the launch. One of the biggest mistakes unsuccessful e-commerce entrepreneurs make is forcing or rushing the launch of a website. Make sure your e-commerce site adheres to good e-commerce principles and design.
  2. Put the focus on the customer. Security and convenience is the issue. Make sure you chose a reliable payment gateway and that the e-commerce site is user-friendly to use.
  3. Test absolutely everything. Make sure your e-commerce site is working as it should.
  4. Work closely with social media.
  5. Incorporate social elements.
  6. Go mobile and keep in mind that your e-commerce site design is mobile phone friendly.
  7. Stay on top of SEO. This is a continued effort to stay ahead of the online battle to get found on Google searches. Speak to your RRBS agent for assistance.
  8. E-commerce is the perfect opportunity to learn more about your customer. Not only do you learn about spending habits, but you get more information like birthday dates to use for future CRM and marketing campaigns.

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