With how comfortable it is to shop from one’s home using a smartphone or a computer, it makes sense to see the ecommerce industry doing better than ever.
The growth of ecommerce presents entrepreneurs with opportunities to sell goods online and make money. These days, brick-and-mortar stores seem to be a thing of the past, meaning that a thriving business no longer needs a physical storefront.
There are a few different options when choosing where to sell your products. Below, you will find the list of those options.
Established Platforms
The advantage of selling your goods on an already established platform is that it is hassle-free. You do not have to worry about developing a website from scratch and constantly monitoring it to make sure that the site is working properly.
Another benefit is exposure. For instance, if you sell your goods on Amazon, you can expect more exposure to a big pool of customers.
Consumers prefer to shop in a store they know and trust, and when it comes to the likes of Amazon, the website receives a lot of traffic.
Self-publishing is a great example of how you can make money on Amazon. The program eliminates the need to deal with traditional publishing agencies. Instead of receiving rejection letters, you can publish an e-book directly on Amazon and sell it there.
Of course, it is not just Amazon that you can use as your primary selling market.
Skillshare and Udemy are the go-to choices for educational content because the users of these two visit the platforms to browse online courses.
eBay is worth a shout as well. Some argue that it is just as good of an option as Amazon, particularly if you plan to sell second-hand goods.
Gumroad is quite decent as well, though it is mainly used for digital goods, such as checklists or resume templates.
On the other hand, a platform like Gumroad has its downsides. Transaction fees can be quite off-putting. Thankfully, there are Gumroad alternatives like Sellfy or ThriveCart that offer more flexibility.
Your Own Store
Some entrepreneurs might prefer establishing their brand online by creating their own online store. Services like Magento, Shopify, and WooCommerce are usually the go-to platforms for creating an online store.
Personalization is one of the biggest advantages when you run your own store. You set up an online storefront with a personal domain and a dedicated host. Customizable mobile-friendly website themes usually come with the platform, though there is also an option to hire a designer who can create a custom theme.
When a website is up and running, you can upload products, track inventory, fulfill orders, and advertise the store to attract new customers.
With that said, the freedom of building an online store from scratch with your unique vision comes with certain downsides.
You might find it difficult to stand out from the competition, even if you have great products or services to offer. Ranking on Google and other search engines might take a while.
To overcome this and to make sure the sales are happening in a short amount of time, use additional resources and tools these platforms offer. Every platform has their own products or apps to help you with your business and to increase your sales and you should opt for one. Like Shopify has a heaps of apps that you can integrate with your online store and they will help in different sections of your business. Apps like Tada are perfect when it comes to minimize shopping cart abandonment issue which is one of the biggest problems for online businesses. These apps not only help with issues like this but also with increasing your subscribers and sales as well.
Then there are cybersecurity threats that, while seemingly inconsequential, can still be quite annoying even if you have enough security measures.
Selling goods online using your own store might be the right option if that is what you prefer. Weigh the advantages and disadvantages and consider whether you would be up for it.
Social Media
It was only a matter of time before Facebook and Instagram introduced a shopping feature directly on the platform. Before, brands would need to advertise their stores on social media groups or their own pages and redirect potential customers to a landing page.
However, the situation has changed since then. Now, ecommerce brands can create a digital and shareable product catalog right on social media and let their followers shop on Facebook or Instagram.
Setting up a Facebook Shop is free and easy. A business may choose which products they want to feature on their catalog, and they can customize the catalog with a cover image and colors to give a unique feel to it.
Customers discover Facebook Shops on brands’ Facebook pages and Instagram profiles. Ads and stories work as a promotional method as well.
Once a customer starts browsing a shop, they can bookmark interesting products or place an order.
In case there are problems, a customer can get help by sending a message to the business via Messenger or Instagram Direct.
Even if you do not have an audience on Facebook or Instagram, you can start building a page from scratch to attract followers and turn it into a marketplace. After all, there are more than a billion users on Instagram and almost 3 billion on Facebook, meaning that there is an untapped potential to make money by selling products on these two social media platforms.
