How to sell more in my online store
Learning how to sell more in my online store is one of the concerns of companies and individuals who choose e-commerce as a source of income. E-commerce is currently the most important business alternative with the highest growth prospects worldwide.
Online stores, marketplaces, and affiliate platforms generate almost 4 trillion euros in transactions annually worldwide. Big brands have understood the reach of eCommerce as one of the most effective ways to sell their products. Especially as small businesses and individuals have challenged their highly valued market positions.
That is because e-commerce has democratized buying and selling operations, creating emerging businesses with great success. Likewise, the ubiquity and convenience of online shopping have allowed people to shop wherever and whenever they want.
For retailers, eCommerce has been one of the most profitable sales strategies. With stores open 24 hours a day, 365 days a year, they can sell to a market unlimited in geography and demographics.
There are different options for all sectors, products, and services that want to sell more with an online store. They have other characteristics, advantages and disadvantages for buyers and sellers.
Let's look at the most effective ways to sell more in my online store and optimize the reach and efficiency of eCommerce today. These are some of the most prominent forms of electronic sales in today's market.
3 Strategies to sell more with my online store
How to sell more in my online store? That is perhaps the most recurring question among companies and individuals who have chosen eCommerce as their most important activity. To answer this question, we must understand the different ways of selling online that are currently the most important. The three most relevant forms of e-commerce are:
Marketplaces
A marketplace is a website that functions as a showcase and intermediary for buyers and sellers. In a marketplace, sellers offer their products to buyers around the world.
Today's most important platforms encourage the growth of sellers with strategies to increase online sales. Similarly, marketplaces create mechanisms and services that allow buyers to increase confidence in their purchases and payments.
Amazon, eBay and Mercado Libre are three of the most relevant marketplaces for the Spanish-speaking market. These online marketplaces offer their affiliates logistics, warehousing and web promotion services included in their rates.
Fulfillment services standardize products and offer quality guarantees to the end consumer. As expected, these platforms charge sellers commissions and fees for these services.
In turn, sellers can create positioning for their brands and products with specialized stores that increase their influence. Generally, these marketplaces have ranking and rating systems by buyers, which affects the positioning of each seller. This forces sellers to strive for higher levels of quality, price and service to their customers to increase their buying preference.
Online stores
Online stores are one of the most successful eCommerce formulas that exist today. These online businesses use websites to offer their products and services, regardless of whether these products are associated with brands with a physical presence or as 100% virtual brands. Online stores allow for generating sustainable and growing revenues.
There are generalist and specialized online stores, very modest stores and some the high technological value. However, regardless of their presence, type of products or technological advances, online stores have the following elements in common:
Home page or home page
This web page establishes the store's purpose, presenting the value proposition and the advantages or benefits of the product. In addition, they create a reference point for SEO positioning in online search engines.
Optimizing a home page is one of the best ways to increase the positioning and, in turn, web traffic flow. These two elements allow you to increase conversion rates.
Product Catalog
This dropdown behaves like the virtual showcase of each online store. Generally, products are divided into categories, groups, audiences or common features.
For marketers wondering, "How to sell more in my online store?" These sections are of high value. It shows strategies to increase sales, such as special promotions, discounts and rebates.
Product descriptions
Each user can click on each product and display the individual description of each product. Here are the product characteristics such as colors, prices, presentations, sizes, etc.
Shopping cart
Shopping carts are one of the most effective ways to increase online sales. This section summarizes the purchases made by the user and directs them to the payment and shipping pages.
Frequently Asked Questions
Users have some common and frequently asked questions. This section allows sellers to respond to these concerns and expand on some of the more detailed descriptions.
It is an ideal way to connect sellers and buyers through practical and efficient service. In this section, the brand answers the most common concerns of users and is an excellent form of conversion.
Blogs
Blogs are one of the most effective online sales strategies in the world. Blogs allow you to share relevant information, entertainment or market news.
Newsletters
In these sections, brands keep their consumers informed about news, sales, promotions and new products. It is one of the most direct ways to create connections between the brand and the customer, and it is also an excellent marketing medium for products and services.
Online stores of digital products
Some more specialized, technological or virtual application products are more difficult to classify in marketplaces and online stores. That is why online products have different eCommerce systems. Digital product stores combine marketplaces and virtual stores but focus on technology products. These stores sell ebooks, music, photographs, images, audiovisuals or software in different formats. These sites offer sellers comprehensive sales management in exchange for commissions and fees. In turn, they give the end consumer a greater guarantee of quality and trust.
Types of eCommerce
In e-commerce, different approaches, purposes, and objectives depend on the product, sellers and buyers. The most common types of e-commerce are:
B2B Ecommerce
B2B or business to business is a type of eCommerce whose end customers are companies and corporate groups. In B2B eCommerce, they are exchanged:
- Product sales
- Service contracts
- Commercial intermediation
Although they can be very profitable, B2B businesses require a degree of specialization or a very particular type of product and service.
Ecommerce B2C
Business to consumer or B2C commerce establishes a commercial relationship between a company and a final consumer. These eCommerce sell products or services that can meet the needs of a specific audience.
Online stores, digital applications and marketplaces are perfect examples of B2C business.
Ecommerce C2C or People to People
Consumer-to-consumer business, no companies are involved in its development. Second-hand product sales platforms and freelance and collaborative consumption platforms are some examples of C2C businesses.
Ecommerce B2E
Business-to-employee businesses are an excellent form of online commerce. They are businesses aimed at specific groups that are generally part of the staff of the same company.
Ecommerce B2G
A formula for selling online can consider local or national governments as end customers. Business to government business models offers products and services to the public sector.
These businesses require a certain specialization and strategies to increase their online sales. However, it is one of the most effective forms of online sales.
Ecommerce G2C
Local and national governments apply forms of e-commerce for their taxpayers and population. With online services for tax collection, fee payments, or tariffs, the public sector generates substantial revenues via the Internet.
Digital properties: A booming online business
Digital properties such as online stores, YouTube channels, blogs or newsletters are high-value assets in today's market. Buying and selling these digital properties has become one of today's booming businesses.
Trustiu is the most specialized company in valuation, due diligence and online business consulting, so buyers and sellers can safely exchange these assets.
That allows us to increase security and trust between the two parties. Additionally, people interested in buying digital assets can delegate business search, market research and negotiation with sellers.
In the same way, companies or individuals who wish to sell their digital properties rely fully on our intermediation. We take care of finding the right buyers and supervise the entire negotiation process. We take care of finding potential buyers and handle the whole migration process and business negotiation.
If you want to buy or sell a digital property or know how much your online business is worth, do not hesitate to contact our consultants.