Benefits of E-commerce to Business Video Lecture | E-Commerce - B Com

hi it's ground from compiler again with
the next video about the benefits of
e-commerce for your business this video
will show you why you should be using
e-commerce in your business so let's get
started the first question that we need
to answer is what is ecommerce you may
have heard of the term before without
realizing what it really means ecommerce
is essentially an Internet transaction
it's a commercial transaction that is
undertaken using the Internet
a customer places an order using their
computer or a mobile device connected to
the Internet this means that you can
sell products or services online the
customer will have the option to order a
product or service from a specific page
on your website you will be notified of
the sell instantly and can then pull all
the order if your product is in digital
format such as software or an
information product such as a report or
guide then this can be delivered
instantly to them in the form of a
download page ecommerce is suitable for
b2b or b2c customers businesses and
members of the public are used to
ordering things online these days the
bureau of doing this has long gone the
payment collection is done it using the
secure HTTPS protocol in order to accept
payments online you will need a payment
processor a payment processor accepts
payments from credit cards and debit
cards and sends them to your account
which can then be transferred to your
bank PayPal is one of the biggest
payment processors out there and the
advantage of using them is that many
people already have PayPal accounts and
they trust them more on this later if
you plan to sell a lot of product online
then you should consider a shopping cart
shopping cart software can be integrated
into your website so that people can
make more than one purchase at a time
big ecommerce sites such as Amazon use
shopping cart software all the time
there are free and paid versions of this
software available once you are set up
for e-commerce you effectively open 24/7
365 your ability to sell your products
and services is always available
customers can place orders with you even
when you were sleeping now let's take a
look at ecommerce benefits there are
many benefits from integrating
e-commerce into your website and we
would look at the top ones here starting
with No Boundaries it does not matter
where your business is located you can
sell to anyone in the world with the
e-commerce most payment processors offer
the ability to change sterling amount
into dollars euros and multiple other
currencies you just need to decide which
countries you want to sell to and what
shipping charges would apply etc this
offers you greater possibilities of
attracting new customers you do not want
to combine your business dealings to
just your local area
you can expand to providing your
products and services to the whole
country
and beyond ecommerce will help you do
this another advantage to e-commerce is
lower costs once you have set up your
e-commerce arrangements all you have to
do is provide the product or service to
the customer the customer will have paid
upfront so there are no costs associated
with chasing invoices etc you will be
notified of all sales electronically as
they happen
ecommerce is growing all of the time
because customers like it
a lot of people prefer to shop online
rather than have to travel to the town
center and fight through all the crowds
business is also like e-commerce because
they are busy and don't have to provide
paper based purchase orders and write
checks it's all about convenience and
your customers can place orders at any
time because you are always open you do
not physically have to be there to
accept an order from a customer the
e-commerce system will handle everything
it will send a confirmation to the
customer of their purchase as well as
inform you about the order also
ecommerce is globally acceptable people
all over the world are using e-commerce
and the numbers of transactions are
growing exponentially
there is now a true global acceptance
and with currency conversion standard
these days international ecommerce
transactions will continue to grow let's
now have a look at the benefits to
customers the reason that ecommerce has
become so popular across the world is
that it offers many benefits to
customers we will look at the main
benefits here starting with 24/7 you can
buy something online at 3 a.m. an
ecommerce store never closes a lot of
people work hard all day and to not have
the time to go to the shops so in the
evenings and at the weekends they like
to shop online e-commerce also provides
customers with more options when people
are looking to buy online they are not
pressured by salespeople and they can
spend time looking at all the different
options for a product purchase they are
also more likely to buy related products
online as well they know that they will
receive fast delivery if you are
providing physical products that the
fast delivery to the customer is
critical
most ecommerce sites on the same day and
next day delivery people are prepared to
wait a day or two for their purchase to
arrive as they know that it saves from
the hassle of going to a physical shop
if they are buying software or
information products the delivery is
instant
the rise in popularity of e-commerce has
led to lower prices ecommerce stores are
fighting each other for business and as
a result keeping the prices low
customers know that they are very likely
to make big savings by purchasing online
as opposed to buying in a shop because
the overheads are lower and the
competition is intense ecommerce sites
also provide the capability to leave
reviews a lot of buyers want to leave
reviews about a product or service and
this is not easy to do in a conventional
buying environment
most ecommerce sites provide the
purchaser the option to leave a review
about the product this helps other
buyers to make a purchase decision now
we will take a look at benefits to
businesses ecommerce offers tremendous
benefits to a business and here are some
of the top ones starting with the
ability to expand markets this means
that you can expand on your existing
markets and develop and grow new ones
you can sell to customers on a national
and international basis there are no
barriers with e-commerce this will also
help you to reduce costs consider for a
moment the costs associated with opening
stores across the country and then
overseas with e-commerce you do not need
to do any of this there are other cost
savings to be made to as the e-commerce
software deals with everything you can
then turn your attention to customer
service with an e-commerce solution all
you have to do is fulfill the orders you
concentrate on doing that really well
and prominent customer service this will
not go unnoticed and customers will
provide testimonials to you about your
great service which you can publish on
your site the e-commerce system will
handle all the notifications and will
allow you to contact those customers
again to offer them more products and
services all of this means reduced
paperwork
you do not need to use endless amounts
of paper when you sell online there is
no need to send invoices as this is all
handled automatically by the e-commerce
system some businesses like to keep
paper records of all the transactions
but there really is no need to do this
this will lead to increased productivity
you do not want your employees to be
bogged down with paperwork it is better
that they concentrate on marketing and
customer service to grow your business
you do not need sales assistants with an
e-commerce business an ecommerce site
will also help with your brand awareness
people talk if they have had a good
experience buying online from you then
they will tell the people that they know
about it and give them your site address
Amazon and other ecommerce sites have
grown considerably with this philosophy
ok time to I now have a look at
ecommerce platforms
there are many e-commerce solutions
available today that will integrate into
your website and then they will use to
sell online the first thing to note is
that a plural ecommerce solution is not
always necessary if you're only selling
a small number of products or services
then a full-blown ecommerce solution is
not always required if you sell
somewhere then you can just have a
purchase page on your site and redirect
the buyer to a download page once the
transaction is complete what you will
need for this is an online payment
processor I have already discussed this
but you can use a payment processor such
as PayPal to checkout Skrill and many
others to accept the payments for you
and then add them to your account -
their transaction fees all of these
payment processors enable you to set up
by nail buttons on your pages which will
take the user to a payment page most of
these accounts are free to set up and
their cost per transaction is small if
you decide on a full-blown e-commerce
solution then you need to be aware that
these are both free and paid
there are many e-commerce software
solutions available and it will be
impossible to assess them all in this
video some of the solutions are based on
open source code are free others have a
one-up cost or run monthly subscription
to pay they all offer similar facilities
but you are likely to get more
facilities with the paid options a
classic free e-commerce platform is
Horus Commerce
howís Commerce has been around for a
long time and they have over 260,000
store owners and over 7,000 add-ons to
enhance your store which have been
developed by their community there is a
lot of support available and if you're
on a tight budget then this can work
well for you if you remember to pay for
the software with guaranteed support
then you can consider Shopify this
e-commerce solution has been growing in
popularity they claim that you do not
need any design or technical skills and
you can sell one product or millions the
software is purchased on a monthly
subscription basis and this is related
to the size of your store an alternative
to this is Magento Magento is owned by
eBay and is very popular because of this
they have a paid option which is known
as the Enterprise Edition which is
packed with features and has guaranteed
support it supports both desktop and
mobile sites again the payments are
bimonthly subscriptions
if you do not have ecommerce on your
website then you are missing out on a
lot of potential customers and sales
take action today and investigate how
ecommerce can take your business to the
next level well that is the end of this
video I hope that you found it
interesting and informative in the next
video we'll be discussing email
marketing so see you then