With the heavy increase in internet users, selling products online is always preferred overselling it from a physical storefront. Today, approx 60% of the customers look for a product online. So, E-commerce websites are emerging as the key player in the World Economy. Online presence of a product widens the customer range and makes you 24×7 available. But, without deploying a proper e-commerce solution, everything mentioned above remains a dream only.
Today, E-commerce Websites can be made in less than one hour, but just having a website is not enough. For the enterprises and Business, it is not so easy to fill their pockets online. The Basic requirement of an E-commerce platform is to list their products on their website, accept online payments and collection of information for shipping of products.
We can sell the products online in two ways either by developing our own E-commerce website or selecting a Marketplace to do so. Both have their own pros and cons. Entrepreneurs and Businessmen are always in the state of confusion to choose between the two e-commerce solutions. Whether to develop their own websites or selling products with the affiliation of other famous marketplaces.
How to select the best eCommerce solution
Choosing a Marketplace
Choosing a third party website which contains various products listing in different product categories is known as selling products in a marketplace. Some of the famous marketplace websites are Amazon, eBay, Walmart, etc. The concept is similar to starting a physical shop and taking a place for rent in a renowned mall. The benefit of this approach is that you save your penny on marketing. Because, the mall is famous and a big crowd comes there daily, so you will automatically have some percentage of that crowd to your shop resulting in increased sales. But, there are some drawbacks also, you will have to follow the rules and regulations of the mall. Apart from paying the routine rent, you will also have to pay commision to the mall at every sale you made.
Similarly to sell a product online in a marketplace, There are some advantages and disadvantages. If you are in association with a famous website, you will receive a heavy traffic on your product without doing its marketing. But, the major drawback is that you will not get the details of the customer to whom you are selling your products. Because they are the customers of the marketplace, not yours so you do not get the contact details. Due to this, You are not building the customer relationships and if that particular platform removes you from their listing, you will lose your online existence. Hence, selecting Marketplace may be easier for short-term business but it becomes very costly if you want to do long-term business.
Having Your Own E-commerce Website
Selling Your Products Over your own E-commerce website adds the wings of freedom to your Business. You have total control over your Product. It allows to select the custom style of product listing and give a unique experience to the customers. You can directly interact with the customers and create your brand awareness. Building a proper customer relationship gives the advantage of iterative selling to the same customer. The margin of profit is according to you. But, the other dark side of having own website is that it becomes very tough to drive traffic to your website. If we talk about efficiency in terms of cost, then having the own website may be expensive in the initial phase but it is seller friendly for long term Business.
Building the website does not require rocket science but just building a static information page is not enough. Deploying proper and latest technology for website development and design is a mandatory part of an ideal E-commerce solution. Further proper android and ios application for the platform act as a catalyser in improving the reach. After the platform is ready, you require marketing. Especially, there is a strong need for Search Engine Optimization(SEO), Social Media Marketing, Email Marketing etc.
You can do these things by yourself if you have a tech background. But hiring a web design company who also provides the service of Digital Marketing is always the best option. Some of the IT service companies provide you with the best IT solution. This support makes you free to focus upon your Products. Note it that proper website design, android app development, payment gateway integration and Digital Marketing Services add wings to your E-commerce Business and can make you a Millionaire. Hence, Select the companies who have the team of experienced professionals in each of these domains. After having such an IT support, you are all set to start your Online store.
The selectivity of choosing an E-commerce solution depends upon the type of product and the associated sector. Both the marketplace and own website have its own pros and cons. However, Having your own website with an ideal IT support is always a better and long-term sustaining Decision.