So you want to enter the online business industry. You noticed that for the right reasons, people are getting more interested in shopping online. You already know the basics of website-building, online marketing, and other skills needed to get started. The only problem is that the industry is already colossal—it seems as if everyone is into it.
E-commerce, or the business of using the internet to conduct commercial transactions, is expanding rapidly. In a statistics report by Shopify.com, global sales from e-commerce amounted to $2.3 trillion in 2017 alone. This number is predicted to increase by almost 50% in just four years.
Fortunately, with the industry’s massive expansion comes the rise of various start-up opportunities. While big-time players are growing and small-time players are sprouting all over the place, new ideas are also flowing more abundantly. If you’re looking for Amazon, Ecom, affiliate, and Facebook advertising business ideas and opportunities, here’s a few of them.
Sales Trends and Opportunities
If you don’t know where to start, following statistically-proven trends is an easy yet powerful way to enter a new environment. The trick is to look out for ideas that will work best for you.
According to a 2016 global e-commerce study by information giant Nielsen Company, stylish clothing, especially women’s, remains to be the product that people buy the most online. The rapid change in fashion trends is an excellent opportunity to bring new sets of products regularly to your customers.
- Travel and events tickets
The next one on the list caters mostly to millennials. Millennials love to travel. Travel deals that come with accommodation and tours are great for online selling. Buying event tickets to concerts and conventions are also a current trend among online consumers.
- Beauty and personal care
Even if people tend to buy durable products more than consumables, beauty and personal care products still make it high on the list. Global sales from the cosmetics industry alone have reached hundreds of billions of dollars in recent years.
If you already have a quality product, and you want a working market immediately, then you should try third-party selling. Statistics show that this venture remains to be one of e-commerce giant Amazon’s top two sources of revenue.
How could a start-up e-commerce business use third-party selling?
- Study your market. Before choosing which companies you want to partner with, you must first know what kind of people would want to buy your product. Is your target market composed of people who just want to window shop online, or are they people who already know what they are specifically looking for?
- Consider the benefits offered by e-commerce leaders. Amazon, Target, and eBay—surely, you’ve already heard some of them, right? Well, consider advertising your product on something like Amazon, a platform visited by more than 150 million people each month. People clearly trust the brand, and you could bank on that trust to better sell your products.
- These online selling giants aren’t the only ones in the industry. If your product has a particular niche, it might be wiser for you to sell them in their respective communities. For example, pop culture clothing might be easier to sell on fandom sites compared to general merchandise stores in Amazon.
The opportunity of expanding your audience to the global market is an excellent idea for two reasons: more and more countries are growing in the e-commerce industry, and more than half of online customers around the world buy from overseas.
Here are a few tips in going global.
- Clearly define your goals. Ask yourself the milestone questions: What countries and sites do you want to reach before the year ends? How much is your target sales, and which countries can make this happen?
- Know your market. Thorough research about certain locations you want to target will help you decide what, where, and when to sell.
- Set your product apart from the rest. In the global market, competition is hotter. You would want your product or service to be as unique as it can be.
Aside from preparing your product, going global will definitely require you to upgrade your marketing techniques.
A business is nothing without effective marketing. People won’t know about your product if you don’t show it to them. In a competitive e-commerce industry, which marketing opportunities should you grab?
- Social Media Marketing
With a third of the world population participating in it, social media is undoubtedly the most prominent product of the internet’s invention. Advertisers have been exponentially increasing their presence on platforms such as Facebook, Instagram, and Youtube in recent years.
Using social media to advertise your product to a bigger market is a great idea, in fact, many businesses are doing just that. After gaining a large-enough following, accounts like these are used to advertise products related to the content they produce.
Not only is this a great platform to advertise products and services, but this is also one of the best ways for a business to determine who their customer base is and what it is that they’re looking for. Businesses can use real-time data from social media ‘likes’ and comments to finetune their strategies to impress customers and boost sales.
- Affiliate marketing
Affiliate marketing is essentially executing marketing strategies for another merchant or company. A journalreview.org course webinaror any other online information sources can actually provide you various strategies on gaining success in the field of affiliate marketing.
One approach is, of course, marketing the same products that top the sales charts. As the list above shows, you can achieve success in doing affiliate marketing for businesses that sell fashion clothing, travel services, and cosmetic products.
Everything about the internet —social media, online businesses, digital information—is still undergoing an early, fiery boom. So, in starting an online business, the competition can be intimidating. However, you must remember that as long as the industry keeps expanding, the ideas will also keep on multiplying. E-commerce, online marketing, and other internet ventures are filled with fresh opportunities every year. These new ideas can be found alongside trends and practices that you can observe in your online platforms. You just have to know where to look, open your eyes, and see the possibilities.