As the level of technological advancement and particularly the Internet continues to penetrate in newer areas, more and more avenues are starting. Who thought that this ecommerce can come this far that millions of people are engaged in it. In the midst of the bustling Internet are two prominent ventures; affiliate marketing and e-commerce.
Naturally, the two are perhaps a snippet of how the modern-day savvy entrepreneurs can leverage the power of the internet and the mammoth following for a hefty pay. Affiliate marketing is more of having your site up-and-running, but directing traffic to another site for a commission. While many marketers kick-start it as a part-time gig, its massive returns in the long run often make then turn it into a full-time job.
Alternatively, running an e-commerce store is wholly different, yet quite lucrative in its measures. E-commerce stores are rapidly gaining mainstream acceptance as they necessitate the transfer of funds through the Internet. It knows no distance and time barriers and essentially runs all day long, all year round. As it stands, e-commerce stores seem the way to go as it is pretty lucrative with little risks.
Starting an online store may seem like a hard nut to crack if you aren’t aware of the principal dos and don’ts. However, starting one is easy when you are an Internet enthusiast with a bit of what the whole art entails. Practically, starting an e-commerce site involves the following.
1. The first idea is starting with what you would like to deal in. it is also the most challenging part as it can be your make or break point. Experts will mention that you go for what you particularly love or what’s trending.
2. After you have pictured out one or more products, evaluating each of them soberly and in a systematic manner is imperative.
3. By now you know what your products will be. Where you will get and how easy you can access them are equally important. For a clearer perspective, you might need to peruse the Internet or speak to the renowned e-commerce merchants for an idea as well.
4. Finally, you will come up with a comprehensible, realistic business plan, research the nature of your niche and register your new venture.
5. Remember, setting up your business including its logo, its name and other important details and promoting it on the Internet is critical and can’t be overlooked.
Advantages Of E-Commerce Business
1. Cheaper to set up and run
2. It eliminates time travel and costs which are excellent for both the customer and the seller
3. Allows easy location of a product
4. Often offers coupons, discounts, and bargains
5. Comparison shopping
6. Offer tons of information about the commodity
7. Is open all the time and has no geographical limits
Disadvantages Of E-Commerce Business
1. Lacks that personal touch
2. Many of them are prone to delays
3. Not everything can be purchased online
4. Anyone can set up an online store including selling illegal, faulty or harmful substances
5. Some sell harmful stuff while others deliver wrong products altogether.
How to Do Affiliate Marketing
Much like the conventional stores, setting up a successful online business require proper planning coupled with enough financial power among innumerable factors. Establishing an affiliate marketing venture particularly is a no-brainier for any tech-savvy enthusiast. It involves the following.
1. Creating a website or a blog that links your visitors to where the products are based is implausible. It typically costs little to set up one and ensure that it runs.
2. Decide the niche that perfectly befits you, mainly depending on multiple factors. You can choose to deal with mobile phones, jewelry,foodstuff, the hospitality industry, etc.
3. Once you have your niche, find the products and services to promote. Affiliate networks are there to link up online merchants with affiliate site publishers. Some prime examples include Clickbank, E-junkie, PayDotCom, Commission Junction as well as the most common one, Google AdSense.
4. Since affiliate sites ought to attract traffic in tons to succeed, besides directing them to the merchant site, it is imperative to be witty enough to turn them into money. Therefore, you can employ the following tactics.
● Paid to advertise – through call to action and compelling graphics
● Free advertising – through prominent sites like craigslist
● Article marketing to gain higher ranking in the search engines
● Email marketing – by coercing site visitors to leave their email addresses for regular newsletters.
Advantages Of Affiliate Marketing
1. More sales translate to more commission
2. Merchants get more clients without spending much
3. It is comparatively cheaper to set up on the affiliate’s part
4. The affiliate has no barriers and time limits as the whole job can be done passively
5. It can be perpetual, lucrative venture
Disadvantages Of Affiliate Marketing
1. False advertising from the affiliate can severely destroy the merchant’s image
2. Affiliates risk missing out on their commission
3. Some individuals have devised a way of hijacking affiliate links
4. High commission payments can hurt the merchant and eventually kill the business.