10 Ecommerce Marketing Tips to Follow in 2021
The rapid development of e-commerce in recent years could not but affect the theory and practice of promoting goods on the World Wide Web. Marketing hasn’t just developed new e-commerce techniques. On the basis of traditional marketing, described many times in textbooks, the so-called. „Internet marketing“, the distinctive feature of which is that all network participants have incomparable starting conditions.
Internet Marketing as the Main Tip to Follow
Internet marketing has the same structure as traditional marketing but operates at a qualitatively different level of economic relations. The main area of application of Internet marketing efforts is transaction costs and new opportunities associated with their reduction. Therefore, the primary role here is played not by product policy (as in traditional marketing), not communicative (as in the industrial economy), and not even marketing research. The primary role in Internet marketing is played by the sales policy, which allows making the product available to the maximum number of potential buyers.
At the present stage of the development of market relations, a special role is assigned to the tasks of improving the innovative component of the entrepreneurial activity of enterprises in order to increase the efficiency of the business. The emergence of the global computer network was marked by the emergence of a new communication environment and a market with a large number of potential consumers with a fairly high level of income.
E-commerce in general and internet marketing, in particular, today perform communication functions and provide opportunities for concluding transactions, making purchases, and making payments. At the same time, the segment of online marketing and advertising is growing both in the consumer sector, as evidenced by the emergence of new online stores every day, and in the B2B market (business).
Top 10 Tips to Follow for Ecommerce
- Pricing is second in importance in Internet marketing. This is due to an objective reduction in transaction costs for sellers, due to which small virtual entities can compete with large traditional market participants.
- Transaction costs in e-commerce are much lower than in conventional commerce. Therefore, the price opportunities for attracting buyers from virtual companies are much greater than in traditional businesses.
- E-commerce opens up new horizons for business development, which is why the presence of an e-commerce system is a prerequisite for the formation, growth, and development of the country’s economy.
- All over the world, the turnover of e-commerce is increasing annually at a fairly high rate, since the electronic environment provides great opportunities for promotion goods.
- The trade infrastructure in traditional marketing consisted of a large number of intermediaries with supply arrears, inventory, specificity of sales markets, and associated supplier problems.
- If the goods were delivered on a prepaid basis, then the intermediaries ordered a limited amount of goods, demanded an increase in discounts, and easily made contact with competitors.
- If the goods were released for consignment, then there was an overstocking of intermediaries, turnover slowed down and problems with payment for deliveries began.
- At the same time, each level of the distribution channel provided a trade margin in the amount from the minimum profitability to infinity, depending on the distance of the supplier.
- New resellers, in exchange for their services, along with a trade discount, gain the right to sell the supplier’s goods on the Internet without having them available.
- They do not create inventories in their own right and do not create working costs for the supplier.