03 Dec Jargon Buster – E-Commerce.
Jargon Buster – E-Commerce.
From YMG – The Award-Winning Digital Marketing Agency in Chelmsford, Essex.
We’re trying to push our Jargon Buster series into the mainstream, and we’ve got lofty goals. Lofty, I tell you!
Whilst we’re working hard to make this series as essential as coffee and calculators (not together) for business owners, we’re forever expanding our scope. No word is too big, no phrase is too small. If going in-depth about it and explaining it as best we can help even 1 business owner, it’s worth our time. And, seeing as the term e-commerce still confuses some business owners, we felt it was time to give it the ol’ Jargon Buster treatment.
Welcome back to the Jargon Buster series, and let’s get into today’s topic – e-commerce.
What Does E-Commerce Mean?
The term e-commerce still confuses some business owners, and that’s OK! The term has become more widespread in recent years, with no clear indication as to when or where it first started. But, simply put, e-commerce is an online website that sells something.
The type of goods doesn’t matter. Physical, digital, it all falls under the e-commerce umbrella. If you can purchase something from the website, and it’s laid out like a store, it’s e-commerce. But what exactly do we mean by laid out like a store?
Well, anyone can create a website that asks you to PayPal the money over or to give them a call. But take a look at our Buy It Now Digital Marketing Store for example. There’s a shopping basket, the ability to add or remove items from it, various items to purchase, and more. This is an example of an e-commerce website.
How Does an E-Commerce Website Work?
E-commerce websites look to recreate the idea of a physical shop, but in an online environment.
Usually sporting different categories, these act as your isles. For example, the e-commerce website of a music retailer might have an option to sort by music genre or media type. Along with this is the option to add items to a basket, meaning your customers don’t have to buy each item individually, much like at a physical store. Lastly, the option to create an account to track orders and store information on previous purchases is essential. Not only for the customer but also for your business. This is due to the fact that an email address is needed to create an account. And, provided the customer opts-in, this is how your business can promote sales, advertise new products, and prompt reminders if a customer abandons their cart – try doing that with a physical store.
Of course, some businesses depend solely on the sale of physical goods. However, the disadvantages of operating your business out of a physical space begin to stack up when compared to an e-commerce alternative. The location of your store, the layout, opening hours, all of these are removed when converting your business to an e-commerce website. We’re not saying your business must become solely online, but having an online presence certainly brings huge benefits.
Are There Different Types of E-Commerce?
The three main types of e-commerce are as follows:
- B2B – Business to business. The selling of bulk, large-scale, or specialty items. Examples of this include the manufacturing of trucks or LGVs to sell to businesses.
- B2C – Business to consumer. This is your average high-street store. Any business that sells direct to individual consumers. Clothing, food, luxuries, etc.
- C2C – Consumer to consumer. Made or sold by an individual for an individual. Etsy and eBay are examples of this.
It’s important to note that these aren’t the only types of business, but they do represent the main three forms of e-commerce website available. Of course, some other rare and specialty forms exist, but, for the principle of understanding e-commerce, these are all you need to know.
Should My Business Use an E-Commerce Website?
Usually, when it comes to the ‘should my business use’ part of Jargon Buster, it ends in a yes. However, this entry is slightly different.
Although there are some exceptions, e-commerce works best for businesses that are selling physical or virtual items. But what do we mean by this? Well, take our Buy It Now Digital Marketing Store for example. What we sell there is not a physical item, so, to some people, it would not work as an e-commerce website. However, we’ve revolutionised digital marketing, making it easier than ever to provide your business with top-quality services. But this won’t work for every service-based business. For example, if you specialise in home renovation or landscaping, there are too many variables to create an effective e-commerce website for your business.
However, if your business sells physical goods, or your services are at a fixed price regardless, there’s a good chance that an e-commerce website can and will provide your business with more sales. Of course, any old e-commerce website won’t do. If the website doesn’t load, is hard to navigate, and looks unsafe in general, how can you expect your target audience to willingly enter their payment details and commit to a sale?
How Can I Provide My Business with an E-Commerce Website?
It’s now easier than ever to provide your business with a top-quality e-commerce website, without breaking the bank.
If you head over to the website design section of our website, we’ve listed everything you need to know about starting an e-commerce website. From what’s included to the starting price, it’s all there, making it as easy as possible for you to get started!
If you’re unsure if your business would be suitable for an e-commerce website, get in touch! Call us on 01245 943096 or drop us an email at email@example.com. A member of our award-winning team will be happy to help.
And there you have it, everything you need to know about e-commerce. Think we’ve missed anything? Feel free to let us know by leaving us a comment below or getting in touch with us on Facebook and LinkedIn.
Thanks for reading, and we’ll see you online.
YMG are an award-winning and full-service digital marketing agency based in Chelmsford, Essex, and home of the Jargon Buster series, helping business owners to understand the technical terms of digital marketing.