Everything you need to know about E-Commerce

Introduction

---

 

E-Commerce stands for electronic commerce and it is all about how transactions take place through the internet. Whenever an individual or company buy or sell products/ services they are using e-commerce. E-commerce covers other activities too, such as, online auctions, internet banking, payment gateways, and online ticketing. The first transaction of its kind was made back in 1994. Phil Brandenberger made history by being the first person to purchase a product on the online market. He bought “Sting’s Ten Summoners’ Tales” for $12.48 using his MasterCard. It was the first time that encryption technology was used to enable a purchase online. This global signal showed that the internet can now be used as a marketplace where products can be sold.

 In marketing, e-commerce is used in innovative ways to sell products/ services to a specific audience. Throughout the years, this has been made easy with emerging information technologies. Companies use the internet to provide ongoing services and support, which creates strong, long lasting relationships with their customers. This allows a company to communicate to its audience explicitly about products and gives them a place to purchase them.

 

Benefits 

---

Marketing benefits from E-commerce tremendously with being easily accessible and user friendly, not only for organisations but for consumers too. It enables customers 24/7 access, meaning they are able to shop or do any other transactions at any given time, in any place in the world. Customers are also spoilt for choice; they have the opportunity to select from many different vendors and a range of products. It provides quick delivery time, meaning that customers will not be waiting around long for their product, especially digital products that are received instantly like video games, books, and music.

E-Commerce allows customers to interact with each other in online communities where they can exchange ideas as well as compare experiences. These communities are found on social media platforms usually as it is so easy to gain information on a specific product. It allows consumers to essentially pick the best product, that meets their requirements.  For example, AliExpress is an e-commerce site that sells a range of products, with hundreds of different vendors. Customers will look at reviews and rating before deciding on their purchase.

 

Conclusion 

---

The impact E-commerce has on marketing is huge, as it has helped pioneer how business is run today. Product promotion has been enhanced by e-commerce by being direct, information rich and interacting with consumers. Senders are able to save substantially by delivering information to customers over the internet. Customer service helps enhance the experience by allowing customers to find any information they need online. The order making process becomes simplistic in comparison when done online, as it saves time, reduces expenses, and increases sales, which then gives people more time to sell their product/ service. Advertising and customer value in marketing used to be very traditional but now it has been hugely influenced by the internet, using more innovative ways to target their audience.

Technology is becoming very refined and costs are dropping, which makes the internet easy and cheap to access. In the direction we are moving, even for simple products that can be bought at a store close by, customers may use the internet to place the order, and receive the product immediately.

 

For better insight come check out my Twitter @ADigitalDiaryMarketing

 

Additional Information:

Impact of E-Commerce on Marketing

The story of the Very First Thing Securely Sold on the Internet

AliExpress