In this post, I’ll be telling you about some types of e-commerce businesses there are.
Largely, there are 3 major ways you can make money through e-commerce
This is one of the most popular ways people do ecommerce. What happens in dropshipping is that an individual or business sells things on they buy directly from manufacturers to consumers. In essence, they play the role of the middle man.
Here’s how it works: Mary sees a product on a website (example: www.scrutiney.com), with the assumption that they own the products, and she places an order. But what Mary does not realize is that the website she ordered from doesn’t actually make the products. They are only displaying the product as a reseller (a form of middle man, or woman, as the case may be). It is after Mary orders that the business owner arranges for the product to be picked up and delivered to her. Pretty smart of the drop shipper isn’t it?
If you are considering this line of business, one key thing you should prepare for is the fact that there are tons of other resellers. So, you need to have your plans right.
If you are familiar with a platform like Netflix, the subscription model of e-commerce should not be strange to you. The first thing to note is that subscriptions work best when dealing with digital products such as courses, exclusive clubs, and so on. To succeed in this line of business, you need to have created value people can consume and pay for. Subscriptions are usually controlled with one factor: time. An example is that a customer pays a Dollar each month if he/she is to enjoy the product or service
Some examples of subscription model e-commerce are bookclub subscriptions, business training subscriptions, email newsletter subscriptions, etc.
They’re a great way to retain customers.
3. White labeling
What happens here is that an individual purchases unlabeled products from manufacturers, labels the products, then sells as their own product online. It sounds shady, but it’s a legitimate line of business as long as you have the original manufacturer’s consent. White labeling businesses can be run offline as well.
Let us know which of these you are leaning towards and will probably try out. Don’t forget, we are open to helping you increase your chance of succeeding at any kind of e-commerce business.
David Ogilvy, the famous advertising maestro once said, “when I write an advertisement, I don’t want you to tell me that you find it creative, I want you to find it so interesting that you buy the product.” What Ogilvy has given us here is a simple definition of copywriting, which is writing to sell.
Copywriting (also referred to as, “copy”) is a form of writing, mainly to generate sales. It is usually persuasive and evokes emotion, so much that it gets customers to take action. This can be as major as buying a product or as basic as following a social media page.
Content writing, on the other hand, is an educative, entertaining, and informative form of writing. It focuses on producing engagement with a target audience. It fosters goodwill, builds trust, and creates bonds that go beyond instant purchases. It sells you the idea behind the product or services.
Below are some differences between both concepts
- It is written to get people to take action
- It is persuasive in nature
- Focuses on instant sales
- It is a one-way sales technique: It is interested in selling only
- Focuses on the inherent uses/features of a product or service
- Short term goals with immediate returns
- It is written to turn leads into prospects, prospects into customers, and customers into repeat buyers
- It is strategic in nature
- Focuses on productive engagement with a targeted audience
- It is a two-way sales technique: it creates room for conversation or feedbacks
- Focuses on the idea behind the product or service
- Long term goal with lifetime returns
Now, to the question of which one to do, this quote by Copyblogger will serve.
“Copywriting without content is a waste of good copy, and content without copywriting is a waste of good content.”
Starting a new business or thinking of growing your existing business can be a mentally tasking thing to do. It often takes a lot of patience, consistency, and hard work. These six steps, in our opinion, would help you simplify the process of starting any business.
1. Self evaluation
self evaluation is key. Look inward, ask yourself “Am I cut out to run a business of my own?” “ Am I ready to face the hurdles of being a business owner?” because sincerely, running a start up business or even working towards the growth of an existing one is not always a smooth ride. But if you can self-evaluate appropriately, you may be saving yourself from unnecessary hurdles. That said, running a business can be a very pleasant experience (if done right)
2. Choose The Right Business To Run
You need to understand what business is right for you. Study your environment, find out what they need and how you can meet their needs through the product or services you intend to create. Business is beyond what you enjoy doing, it is a fusion of what you like, and how it solves problems.
3. Research And Re-evaluate Your Idea
Conducting research is key to the success of any project. Don’t jump into pushing your idea to the market. Do some research about this big idea of yours: study the market, competitors involved, cost implications, target audience, pricing, the skills required for success, and so on.
4. Consider Merging With An Existing Brand
We know the title, “Founder/CEO” feels nice. Do you know what’s nicer? Owning a part of something successful. Another way to go can be partnering with an existing business; pool your resources together, rely on your individual strengths, and take on the market. Ever wonder why investors trust startups with more than a lone founder more? It is this point on the power and resilience of partnership.
5. Have A Business Plan
Hardly has any business ever gone according to plan. But it’s good to have one (whether official or not). A business plan gives you a sense of direction; a clear picture of what your business is, can be, and what it is not.
6. Put A Date To It
Timing is very key to success in business. Do a proper analysis on when will be a good period to start. Starting a sweater brand, for example, you know you don’t want to market that in a hot season. Winter season may be the perfect time to show people how warm your sweater makes people feel. After all said, It’s time to cut the anchor, captain! Let’s roll!
We hope you find a tip or two here useful in launching that your new idea.
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If you’re a business owner, you’ve probably had your ears drummed off with how important it is to make your business sound interesting to people. But sometimes, it’s easier said than done. It can be difficult to summarize everything your business does while keeping it interesting.
No matter what type of business you run, there will be many moments where you will have to explain what you do to someone or a group of people. That is why you need to learn how to make what you do catch anyone’s attention. These 5 tips will help you in making your business appear to be the best thing after sliced bread (lol):
1. Focus on the things that are new or unique about your brand
One thing I’ve come to realise is that there are very few new fields. Whatever business you’re into, there are many other businesses that have done it for longer and maybe even better. One mistake a lot of people make when talking about their businesses is simply saying the line of business they are in – “hi I’m into fashion”, I bake bread”. Nobody wants to hear about your bread business. What they want to hear is what makes you different from others. Here are some ways you can present your brand as being unique:
- Mention WHY you do what you do: Sometimes, the spark of your business is in the story of how you began. When you mention why you started your business, it leads you to talk about the unique problem(s) you solve, and that is what people are interested in.
- Mention HOW you do what you do: Some businesses are unique because of their processes. That’s why handcrafted fashion items are more expensive than those made in factories. If you use a secret recipe in your bakery, mention that. If you create all your designs from scratch, that’s something worth talking about.
- Mention WHO helps you do what you do: People are often interested in people. The most interesting thing about your business could be the people who help you run it. For example, do you have an all-female staff? Do you only hire chefs who have undergone over 20 years of culinary training? These are things that make your business sound much more interesting to people.
2. Be a storyteller
Never make a pitch sound like a pitch. People would rather listen to stories than listen to things that seem like prepared presentations. You need to learn the art of storytelling if you are going to sell your business to people. Start with the origin of your business, tell the stories of the people whose problems your business solved, describe the things that make you so passionate about your business. You need to sell emotions, rather than services. If you are not a good storyteller, it’s time for you to either learn how to tell stories or hire someone who can.
Talk about your business with passion
Passion is such an enticing thing. There is something endearing about someone who is passionate about what they do. If you are not passionate about your business, it might be tough for you to sell it. When you speak about your business with passion, the excitement in your voice is contagious, and it makes what you’re saying all the more interesting.
Tell people what they want to hear
You need to talk about the parts of your business that are relevant to the person you are talking to. Never make the mistake of having a general line that you give to everyone. Think about what part of your business the person or people you are speaking to would be most interested in and focus on that part more. If you’re talking to a group of investors, talk about your business in terms of sales and sales potential. If you’re talking to tech bros, talk about how your business is easily accessible even digitally. Refine your message to the people you are talking to.
Telling people about your business becomes easier when you master how to make it exciting. It is an unavoidable part of being a business owner, and so you need to go hard on it. These 4 tips will make ANY business sound interesting to anyone. Give them a try and see people suddenly become more interested in what your business has to offer.