Hello Everyone!

Website monetization is a vast topic and we discussed about advertising and affiliate marketing techniques in the past.

Now, we shall discuss about another lucrative topic: E – commerce store

I need not explain what it is: Simple buying and selling of goods using online interface. You all know as you all have seen Amazon & Ebay at least once in your lifetime.

It isn’t as simple as it seems. A basic e – commerce website structure is explained here.

http://writedge.com/avoiding-failures-in-electronic-business/

Challenges to be faced

There are multiple users on your website. They have their billing information safely stored (among other data) on your website. The first and the biggest challenge is: user security.

This isn’t easy enough. You also need to have a wide product portfolio. Amazon and Ebay have 1 million pages. Please note that more pages means more indexing by search engines. The second challenge is: audience reach.

However, more and more users and pages make websites heavy. Slower loading time = no user actually visiting your website. The third challenge is: website loading time.

E – commerce industry seems in boom initially but the thing is that profitability is actually a challenge. Only 5% of e – commerce websites are actually making profits and others are mostly covering the costs. The fourth challenge is: profitability

Infallible and working tricks

I hope that challenges are taken care by you. The challenges aren’t as heavy as it seems. However, it is virtually impossible to discuss all such challenge management here (these are quite basic and it is assumed that you already know these).

We shall discuss innovative tips here in order to make this ecommerce a success.

Try implementing social network

It is always nice to people befriending each other and discussing before actually buying out. It is likely that you have certain demand and someone in your friend circle already tried it. Also, most of the problems may get sorted out between people rather than coming to your support. This way, you have a simpler and a better system.

Having a social networking system might aid in more and more users popping in as well. After all, humans love to chat.

Benchmarking

There is no management lesson better than benchmarking. It is always recommended to learn what world leaders are doing and accordingly, make the right strategy.

The strategy of Amazon is analyzed here

http://writedge.com/marketing-tips-for-electronic-business-part-2/