What is Ecommerce?

What is ecommerce? This is a question that I have been asked many times by people. I think that the main reason for this is that in the information age today nearly everything is internet based. If you look at how we used to transact in the past you will notice a significant difference.

Ecommerce has had a huge impact in our lives. If you need insurance you can get this over the web, if you need to do grocery shopping you can order over the internet and if you need any electrical appliance, books or dvds you can buy from an online store like Amazon. If you operate a business and have not considered using ecommerce your competitors will leave you behind.

Most people these days first do their research on the internet and once they have completed this research they will transact over the web primarily because it is very convenient. By definition ecommerce is transacting using internet technologies.

This could be selling products online like an online store with a shopping cart and accepting payment via credit cards or electronic checks. EDI(Electronic Data Interchange) with the relevant suppliers and customers for example you could have a marketplace where companies can order stationary from stationary suppliers and order in bulk. This will pass significant savings to the purchaser. This will streamline your business processes using workflow systems that will assimilate your business intelligence.

There are two main types of ecommerce. These are B2B which is business to business ecommerce and B2C which is business to consumer ecommerce.

Let us look at the main advantages of implementing ecommerce in your business. If you can produce a high converting ecommerce site then you will create a profitable stream. This will also reduce the cost of the order as traditional paper based orders have a higher cost to process. You will also gain access to a much larger customer base as you are not limited by a physical store as geographical boundaries would have been removed.

The sooner that you implement ecommerce in your business the sooner you will be able to reap the rewards.

Would you like to know more about the magical marketing techniques that have helped me to quit my day job? Just keep on reading to my blog, I will keep on posting to let you understand more about online world!