What is E-Commerce?
There is a high possibility that you have purchased things from the sites other than Amazon. There are sites that can be third party administered by a sole proprietor in the form of Electronic Commerce, commonly known as E-Commerce. As defined in this Shopify article, E-Commerce is, “… the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions,”. With sites that are not highly recognized as a site such as Amazon, Target, and Walmart, traction is required to make any sort of conversion.
There are different types of transactions that can happen in the E-Commerce business. There are four models to be exact. These transactions happen between the seller and the customer.
1. Customer to Business (C2B)
When a customer sells their product or service to the business. For example, a photographer can license their photographs for a business to use.
2. Business to Business (B2B)
When a business sells their product or service to another business. For example, an alcohol supplier to a bar.
3. Business to Customer (B2C)
When a business sells their product or service to a customer. For example, a homemade jewelry maker on Etsy sells to an interested customer.
4. Customer to Customer (C2C)
When a customer sells their product or service to another customer. For example, a woman sells her old dress to another woman on Wish.
The internet is a gold mine for advertising. The possibilities are endless and it takes relatively no time to post ads. Keep in mind, the ad has to be captivating and engaging if you want that initial click to the site. Social media sites are great platforms to promote your online business. With the technological advantage, minimal capital is required to get your business out there, which is great for many starters. This is also a good way to gauge the engagement from your ad and refine it to target the specific audience. For more information on how to make the perfect ad, check out this article.