Traditional E-commerce Business Models:
1. B2C (Business to Consumer)
The B2C model is the most common and traditional model. B2C follows the well-known retail model, where a business sells to individual consumers, however with E-commerce it is conducted online rather than in person.
2. B2B (Business to Business)
A B2B model is when a business sells its products / services to another business such as a wholesaler to a retailer. B2B transactions usually have a higher order value and are typically companies in different stages of the supply chain
3. C2B (Consumer to Business)
The C2B industry is growing and enables individuals to sell products / services to businesses. This includes freelancers who typically write blogs, forums, marketing services etc.
4. C2C (Consumer to Consumer)
The C2C business has thrived in recent years with innovations such as Amazon and eBay becoming increasingly popular. These E-commerce platforms and allow consumers to sell, buy and trade products.
Forms of E-commerce Marketing to Increase Conversions:
1. SEO / SEM
SEO is the process of optimising your website to organically appear higher on search results, whereas SEM is the process of promoting your website through paid advertising. These E-commerce methods are very effective in increasing user traffic to your website and should therefore lead to more conversions. You should focus on areas like optimising keywords, writing unique tags, uploading content etc.
2. Content Marketing
Content marketing is the process of creating and distributing content like articles or blogs to your target audience. This helps Google to recognise you are a trusted company in your field and boosts your SEO. Furthermore, more people who view your content will be led to your website, increasing traffic and hopefully conversions.
3. Email Marketing
A very direct E-commerce marketing strategy is email marketing. This involves directly emailing your target audience to send them information. Email marketing could come in the form of a newsletter or weekly updates and enables you to reach a wide, global audience in a convenient manner. With the right message, email marketing could result in organically increased conversions, subscribers etc.
4. Social Media Marketing
Advertising through social media platforms will help you to gain brand recognition, increased traffic and even conversions. Social media enables you to reach a wider and likely different global audience. However, there are many concerns over the reliability and legitimacy of companies on social media so you must gain the consumers' trust.
Conclusion:
E-commerce marketing is more simple than it sounds and implementing a combination of methods with a carefully constructed and specific plan will be hugely beneficial to increasing conversions and revenue for your business.
If you would like to get in contact with one of our E-commerce strategists or would like to know more about E-commerce marketing, contact us at info@4hk.com.hk or visit our website at https://www.4hk.com.hk/!