Ecommerce Businesses Taps New Source of Growth
Ecommerce is simply the act of electronically buying or purchasing of goods over the Internet or through online services. The term ‘ecommerce’ refers to the business of selling and buying online. Ecommerce has grown phenomenally over the past few years, from being an obscure and relatively new term just after the turn of the millennium, to one of the most popular topics on the internet today. Today, ecommerce is one of the fastest growing areas in the global economy. According to estimates, ecommerce will eventually top sales from traditional retail sales, internet banking and postal services combined. However, as exciting and novel as this sounds it is also a potential nightmare for business owners and Internet marketers alike.
There are many different ways in which ecommerce can wreak havoc on a company’s online commerce operation. Some ecommerce platform launches are incredibly risky and expensive, to the extent that they can completely wipe out a company’s capital investments in a short period of time. This can be particularly distressing for small businesses that don’t have the funds to keep experimenting with new technology. Other ecommerce platform launches are less expensive but still quite risky, as a single mistake can cause a company to go out of business. Ecommerce startups which suffer these types of failures are not often able to raise the capital that they need in order to continue developing and expanding their business.
Unfortunately, some of the biggest and most ambitious ecommerce businesses have been unable to withstand the huge challenges that face them on the road to success. Take for example the launch of eBay, one of the biggest online marketplaces in the world. Despite its huge online marketplace and proven business model eBay was unable to weather the storm caused by eBay PayPal’s sudden closure last year. This was a very large blow to eBay and its partner eBay Stores, who had invested heavily in PayPal in order to give their ecommerce businesses the security and credibility they required.
For small businesses, which rely on ecommerce to increase their sales, this can be extremely detrimental. One of the problems faced by ecommerce businesses is the inability to handle growth and expansion. Many ecommerce websites only operate within their geographical region, meaning that small businesses that wish to expand were forced to seek additional funding for an international expansion effort. The other problem faced by small businesses seeking an overseas expansion strategy is competition from existing international players. Even though eBay had tried to combat this issue by listing its own marketplace in China, Google and Yahoo still remained too far ahead to compete.
Now small businesses must instead decide how much funding they can realistically raise in order to meet these competition issues. One of the emerging trends in ecommerce businesses looking to raise capital is using Instagram as a way to attract online sales. Recently, Instagram was launched in 2021 and has since become one of the most popular social networking sites on the internet. Millions of people regularly post images on the site in order to share photos with friends and loved ones. Instgram, a company which recently raised over $20 million in Series B funding, has created a photo sharing marketplace where ecommerce businesses can post images related to their products in order to drive traffic to their website.
Using Instagram for marketing is a great way for ecommerce businesses to tap into this ever-growing trend. By using professional photographers or individual freelancers, ecommerce businesses can upload high quality images related to their products and services in order to drive visitors to their website. Once people begin to visit the site, companies can receive high conversions with purchase offers. If an online merchant already has an existing Instagram account, it is possible to quickly establish a page which allows visitors to upload pictures. With the availability of hashtags, it will be easy for ecommerce businesses to create engaging content related to their products and services which are instantly visible to users. This method is much less time consuming than traditional B2B lead generation methods and allows for a convenient transition for businesses who are new to online commerce.
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