July 05, 2017

Which of the five business types suits you?



Which of the five business types suits you?

1. The Expert
Sometimes it’s an idea, rather than a product, that will captivate the marketplace. The expert’s e-commerce strategy is to capitalize on that winning idea, distributing it from a tiny seed, like an e-book or a newsletter, and growing it into a much larger media enterprise. Media mavens like Gary Vaynerchuk have proven the power of this expansion-oriented style of online commerce.

2. The Creative
Whether you’re handy with needle and thread or a 3D printer, e-commerce is the world’s biggest craft fair. The vanguard of the DIY e-commerce movement is represented by services like Etsy and Fiverr, where unique DIY ideas and highly-varied skill sets can be marketed to a global audience. Etsy alone sold $667 million worth of handcrafted goods produced by its army of sole proprietor vendors in 2016.

3. The Social Butterfly
Partnering with others is the driving force behind one of the most social forms of online commerce: affiliate marketing. Simply put, blogs and social media influencers promote sponsored products in return for a commission on sales that are referred through their site. According to research by Rakuten Marketing, affiliate marketing is expected to grow into a $6.8 billion industry by 2020.

4. The Market Trailblazer
Online commerce also often allows an entrepreneur to partner with a larger distributor or wholesaler to become a storefront. This allows web entrepreneurs to open up new markets for existing products, and to conduct high volumes of business without having to manage a huge inventory and overhead.

5. The Optimizer
Though online businesses have low overhead and are easy to start, they are not without risk. The Optimizer knows this, and makes it their business to lower that risk and improve their profitability. Once you’ve started turning an e-commerce idea into an optimal, well-oiled machine, it’s equally important to use the right metrics to measure your progress and iterate toward greater successes.

2 comments:

aashisiva said...

I do believe all of the concepts you’ve introduced in your post. They’re very convincing and will definitely work. Nonetheless, the posts are too short for novices. May you please extend them a bit from subsequent time? Thank you for the post.
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KarlDeville said...

Thank you for taking the time and sharing this information with us. It was indeed very helpful and insightful while being straight forward and to the point.
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