If you are brand new to creating online stores, you might be wondering, “What is ecommerce and how do I get started?” ¬†You know people are shopping online more than they ever have before, but what do the statistics say? ¬†They always provide a clearer picture of what exactly is happening in the marketplace at any given moment (courtesy of Statista.com):
> In 2011, Amazon generated $48 billion in revenue
> By 2015, total revenues for all websites will rise to $269 billion
> Online retail accounts for most of online revenues, at $162 billion in 2011
> The number of online US shoppers will grow from 137 million in 2010 to 175 million in 2016
So, as you can see, the internet provides quite a lucrative opportunity now and in the future.
How do You Get a Piece of the Pie?
The first thing you’ll say to yourself is, “Amazon clearly dominates the on-line selling space – how can I even begin to compete?”
You raise a good point by asking that question. ¬†However, the simple fact remains you cannot compete with Amazon. ¬†They have everything down to a science and do things much better than everyone else.
But, that doesn’t mean you can’t earn a successful, six-figure income from the internet. ¬†The key for newbies lies in identifying a specialized niche where you don’t have to compete on a price. ¬†For example, we know of sites selling high-end wedding apparel and products and a site specializing in selling long-range hunting equipment, both generating more than six figures in net income for each of the respective owners.
How do You Identify a Niche?
The first key to developing a successful e-commerce site lies in selling a product you really believe in. ¬†So, you have to either have life experience with a certain set of products you’d like to sell, or start selling products you find very attractive.
That passion carries you through the hard times, as well as the boring minutia of running any business. ¬†Once you have that passion identified, then it’s time to start performing some research.
Take a look at the existing products similar to yours and understand what your market looks for. ¬†Once you know the shortcomings of the product in relation to what the market wants, then you’ve identified your niche. ¬†Your product must fulfill some need not currently being met.
How Does Marketing Work?
If you don’t know anything about marketing online, that’s okay. ¬†But, what you do need to know is that if you don’t have a company at least helping you with your online marketing, you won’t be able to stay competitive long-term. ¬†Companies exist that help you rank at the top of Google for your targeted search terms. ¬†They are called “SEO” or “internet marketing” companies. ¬†There are a number of other ways to get people’s attention online, and you’ll need help doing it long-term.
Fortune3 Helps You with Everything Ecommerce
Fortune3 is a unique company in that we help you with everything related to developing a successful ecommerce site. ¬†The idea is up to you, but we can help you with:
> Payment processing
> Search engine optimization
> Pay-per-click advertising
You’ll have a hard time finding all of these services under one roof, let alone a single company specializing in all of them. ¬†If you’ve been wondering, “What is ecommerce?” hopefully we’ve answered your questions. ¬†Please contact us if we can help in any way.