How Group Buying is Useful for Business?

There are about 1000+ Groupon Clone in the market. There is good surge in the market for group buying sites which provides huge discounts to the customers across multiple industrial verticals from restaurant to Spa. The group deals become active when certain number of people are ready to buy the products at the available rate within the ticking time. When the number of persons join, then the deals becomes active, otherwise deal is closed. There are lots of advantages for the Group buying business and some of them are discussed below.

Attracts customer:

Since the main function of Group buying site is to provide huge discounts to the customers, it attracts more new customers into the business. People may be attracted with 50% to 90% discount offer which push the sales on the site.

Product introduction:

New product can be introduced to the customers with discount offers via group buying deals. It helps for building brands as well as gain recognition in the market. People tend to revisit the site again and again when they are impressed with the offers.

Social media influence

More number of people can be attracted to the site using the social media such as Facebook and Twitter. The group buying sites promote referral programs which encourage the customers to refer others to the site to earn referral income. This can keep the people engaging as well as attached with the site as they get income without much difficulties.

Move inventory:

The group buying site allows the sale of bulk products. Also, the products that are slow moving in the market can be sold easily via group deals. Inexpensive products can attract the crowd. Mostly, the deals related to restaurants, food, and travels have huge welcome in the crowd.

Mobile deals

The deals can also be availed by the customer via mobile which makes it flexible for user to buy products. They can browse the deals via smartphones and make a purchase quickly and cost effectively.

Conclusion:

Group buying scripts are available in the market which allows to build group buying sites quickly and manage a hassle-free business. The site allows to manage the inventory and support multiple payment gateways. One can also build groupon clone site that supports multiple currencies and language. Hence groupon clone script helps to build a functional ecommerce business online which can increase the sales potential. Group buying site can be worthwhile to make a profitable business.

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Do We Really Need Social Commerce?

Earlier when ecommerce was ruling the business, there were many methods adapted to influence the business sales. Regular newsletter were sent to the customers. Attractive image of the product was included along with call-to-action buttons. Brand names were established by creating awareness of the product/service via emails, blogs, and forums. The site was optimized with SEO promotion and much more. Inspite of all the above methods, social media made a major contribution in promoting the products.

Introduction of social media into ecommerce opened a new channel for marketing. A study reveals that around 75 % of socially-generated e-commerce sales in 2013 came from Facebook, Twitter and Pinterest. A majority of consumers now use social media to guide their purchases. About 4 in 10 social media users have purchased an item in store or online after sharing it on Facebook, Twitter or Pinterest. About 39% of Facebook users like brand pages to research products.

U.S. consumers are expected to spend an eye-opening $327 billion online in 2016. Facebook allows users to build brand awareness. They are also used for replying customer queries and promote seasonal sales. The Facebook page is also used for running ecommerce store which has more advantages. The YouTube help to create short and quirky videos in order to provide face to brands. Twitter keeps the customer engaged with tweets and sharable hashtags. Pinterest provides exclusive merchandise and organize previews. Each social media has its own advantages in promoting the sales and establishing social commerce.

Customer base can be increased using social media by marking an online presence in the market. The visibility of your products on social media can be increased. People may like or follow the product which can create product awareness in the public. Your business shared is your business doubled. Blogs and other online contents can be useful to share products on social media. The company has to simply impress one customer who can bring in more loyal customers. Specific demographics can be targeted by social media.

Some of the basic features of social media which impacts the social commerce include

* Can generate free website traffic
* Engage people with visual appearance
* Keep the customers happy
* Repeat customers
* Search-engine favorite social media
* Low marketing cost.

The social media creates a brand awareness about the product quickly and cost effectively. The customers may get influenced by the media for decision making. A good customer relationship can be built by providing loyalty via social media. As per statistics, 74% of customers rely on social media to guide their purchases. There is wide opportunity for social media to influence buying pattern of customers via social commerce.

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How Do Social Media Influence Online Shopping?

Social media has become an inseparable part of our life. Apart from the purpose of communication, the social networking sites play a key role in the field of ecommerce, perhaps mobile commerce. Around 64% of smartphone users shop online using their devices. The attitude of people to recommend or place likes on the product has become an unbiased opinion for the social media users to buy products. A study reveals that more than 78% of the companies’ social media pages create a great impact on their purchases.

The most influencing social media is
Facebook which contributes about 30.8% of purchases,
while Youtube and LinkedIn follows with 27%,
Google plus 20%,
Pinterest 12% and
Twitter 8%.

(Click the below image)

Socializing Ecommerce Infographic

Major product categories for social-to-sale purchases include food & drink 26% in Pinterest, 14% in Facebook, and 13% in Twitter. Purchases related to art & design count to 21% in Pinterest, 5% in Facebook, and 9% in Twitter.

From the consumers side, around 71% of them are more likely to make a purchase based on social media referrals. Infact, 45% of the online shoppers have bought something which they otherwise would not have bought in person. If the online shop provides free shipping, then 96% of people are likely to make a purchase. Around 87% are likely to shop on a site if it provides free returns. Rarely

62% return the items bought online. The main motivating factor for the online shoppers to make a purchase is positive customer review and retailer’s description. The affect of negative customer review is comparatively meager on users to buy something online. A study reveals that 4 out of 5 people shop online for a broader selection, 2 out of 3 shop online because it is cheaper, and 7 out of 10 shop online for better sales and promotions.

Some of the common social and community tools that impact buyers include
Customer reviews (59%),
Question & answers (42%),
Internet forums (26%),
User-generated videos (15%),
Facebook fan page (13%),
Facebook newsfeed (13%),
Mobile (9%) and
Twitter (9%).
People use the social media to find different needs which makes life simple.

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Your Social Media Contacts can Win You More Mobile Commerce Sales

Way back when e-commerce was introduced, retailers found the new medium to bring in more business and sales. Study reveals that the US online retail sales are expected to hit $370 billion by 2017. Later, the mobile commerce became very user-friendly and attracted more number of sales just with few clicks on the mobile.

Why Social Mobile Commerce?

Adding more light to the mobile commerce, the introduction of social media doubled the chances of sale. It is interesting to note that, almost 20% of online purchases are accomplished after surfing through social media sites. People found it very reliable and trustworthy when near and dears recommended a product on social media which led to increased sales. One of the other impeccable reason for people to believe in social mobile commerce is that they could find better prices and better values.

Social Media Influence

In 2013, 35% of the world online was influenced by social media where there were about 340 million tweets/day and one billion Facebook users. Businesses are utilizing the social media as part of their marketing strategy. Majority of about 83% use LinkedIn, 80% are Facebook and Twitter users, 61% use YouTube, 39% use Google Plus, 26% use Pinterest for promoting their mobile commerce products.

Mobile Channels for Gaining Traffic on Site

Internet shopping growth is out-pacing overall retail growth. According to a study, by 2015, it is estimated that $119 billion in goods and services will be purchased via mobile channels, both tablet and smarphones. Nearly 65% of marketers increased their social-marketing Ad budgets in 2013. Business prefer paid social ads since it targets the right audience. It increases the traffic on the site and helps to gain new customers.

Strategy Behind Social Mobile Commerce

Most reliable social media marketing strategy adopted for ecommerce websites include:

  • Understand the basic platform for why the customers seek the social media
  • The content should be shareable
  • Be in contact with the customers
  • Meet the people at community
  • Relationship should be build with social influencer

Thus, social mobile commerce plays a vital role in marketing the products across the social networking sites. Apart from the craze of mobile commerce in the market, the combination of mobile and social video is building new opportunities for marketers.

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Converting Your Offline shoppers into Online Shoppers

Online shopping has become the latest trend in this fast moving gadget-filled world. One of the studies taken in 2014 reveals that nearly 47% of teenage US males prefer online buying while 26% of US teenage females are involved in ecommerce shopping. This is a tremendous improvement when compared with online shopping in 2013 where only 20% of male and 18% of female teenagers were involved in the activities of ecommerce.

On the other side of the coin, one cannot deny the fact that more number of people still prefer the traditional offline shopping. In 2013, the number of teenage male and female offline shoppers counted to 80% and 82% respectively. However, the count decreased to 53% male and 74% female in 2014. Yet, when compared to online shoppers, people prefer offline (physical store) shopping owing to various reasons.

Shopping via internet can be one of the awesome experience for the end user because of its flexibility and convenience. Some of the main features that can be considered for converting the existing offline shoppers into online shoppers are discussed below.

1. Feel the product

One of the main reason for people preferring the in-store purchase is because they get the feel of the product. The buyers has to be assured that the product is convincing as it appears. Therefore, the product presentation should be good in order to attract the people. People keep gazing when the product image is clear and attractive. This can be a good contribution for sales conversion.

2. Design/Layout

If your shopping cart is monotonous then you can least expect the customers. The online shop should be easy for browsing and navigation. The design and layout should be intuitive such that user could find their need easily. The sites that are user-friendly ultimately remains in the heart of the customer which brings in more repeat customer.

3. Variety of choice

There are plenty of ecommerce solutions in the market which provides different kinds of service like regular products, group deals, etc. The shopping cart that includes maximum variety of selling methods like group deals, auction etc will attract more customers to the site. The buyers should be influenced by providing deals and offers that can save their money.

4. Shipping/payment

This is the most affecting part of online shopping. People easily get frustrated if the payment methods are complicated. Infact, people think twice before they submit the credit card details or bank account. This illusion can be broken down by integrating a safe money transaction method with clear shipping methods.

5. Interactiveness

People like to get opinion from others before they make a purchase. The online shoppers can be engaged with sharing of product ‘likes’ and ‘comments’ on social networking site. Social media can be the best option to reach maximum number of users cost effectively.

Some of the main areas to focus for converting the physical store users into e-shoppers are discussed above. There are also many other methods like inclusion of GPS & geolocation of stores, customer feedbacks, email & newsletter subscription, referral programs, mobile apps, built-in SEO, community forums, support, etc.

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Scope of Economical Growth in the Field of Ecommerce

The internet plays a great role in influencing the economy of the country. The ecommerce field shows a rapid growth of $12.6 Billion in 2013 with an average of 30% growth. The wide range of products provided by the ecommerce sites with best offers for the consumers attracts more number of people. Also, the flexibility in making the payments keep the customer more glued with the concept of ecommerce.

In a country like India, there is good scope for implementing the ecommerce where the population is increasing each day. More number of people have started using the internet via both web and mobile. Hence merchants can promote their products via ecommerce solutions, and build their business quickly by reaching more number of people.

Study reveals that there are about 200 million internet users in India, and it is expected that it will increase to 500 million internet users by 2015. This statistics is most favorable for the online retail business. Infact, the highest percentage (70%) of users are favoring the travel industry to book their travel tickets and stay places. There are lots of other ecommerce solutions that play major role in increasing the economy.

There is great contribution by Foreign Direct Investment (FDI) in improving the economy of the country. But in the field of ecommerce in India, only B2B options follow the FDI while there is no facility for B2C ecommerce. The government is allowing 51% FDI in multi-brand retail which is an advantage sought by ecommerce major players like Amazon, Flipcart and eBay. Still there are only minimum of 12 states involved in investment.

Penetration of internet via smartphones also help for improving the commerce activities. It is estimated that there is 56% revenue growth in the ecommerce company. Major portion of the population have access to mobile internet which makes it possible for them to compare prices and make the purchase online with no concern about spending. If foreign investments are encouraged in ecommerce sector, then there can be good growth in infrastructure facilities.

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Make Your Retail Marketing Agile via Online and Smartphones

Picking a telephone directory to find a business has become old fashioned with the advent of online e-commerce and mobile applications. Type it on the Google, Yahoo, or Bing and get your answers for the search within few seconds! The mobile and online presence has become very much essential for all purpose including retail industry.

Retailing or method of selling products to the consumers has set a new trend for carrying out its activity with online marketing. More than 90% of the people use the search engine to find the local business or product online which increases the scope for online retail marketing. About 80% of the people refer reviews and recommendation from other users before making a purchase.

The retail e-commerce marketing often depends upon multiple criteria like different geographic location of the market, shipping method, payment method, remote customers etc. Apart from this basic requirements, the online retail marketing also depends upon various features such as website design, speed (slower the site,lower your sale), selection of products (neat presentation), product detail page etc. There are multitude of open source e-commerce software in the market which helps to build the most successful retail e-commerce site.

Currently, the smart phones have influenced the retail marketing online. People get access to the online retail store via their mobiles which keeps the market agile. Retailers are able to reach the customers via online and via smart phones. User gets the facility to buy from anywhere at anytime with transparent pricing and automated price comparison. It is expected that by 2016, Mobile-driven online sales in US will be $62.2 billion.

Responsive design which adapts the site to different smart phones screen size has changed the market for retailers. Mobile platform helps the end user to compare prices with different marketplaces like Amazon. Integration of multiple payment gateways make the mobile e-commerce to be more reliable along with barcode scanning. Above all, people get reviews instantly from online as well as from mobile form of retail marketing.

In this fast moving gadget-filled world, every business should have their own domain in the internet with supported mobile apps. For retailers, reaching the customers on mobile or iPad or PC keep their business endowed with opportunities.

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How to Choose a Right Payment Gateway for Your Online Store?

If you are in ecommerce business then payment gateway is a mandatory option that has to be included with the shopping cart. Payment gateway manages all the money transaction happening on the ecommerce site in a secured way in order to gain the trust of customers. Around 47% of shoppers use prepaid cards for making online payments, 30% use credit cards, 28% use cash-on-delivery, 30% use bank transfer, and 27% use paypal for making the online payment.

Paypal and Authorize.net are major payment gateways that are preferred by most of the ecommerce site for handing money transaction. These famous gateways accept credit card or debit card payments, eCheck, or via paypal account at low cost with no setup or monthly fee by charging fixed transaction fee.

Few notable payment gateways include Paypal, 2Checkout, Authorize.net, Braintree, Dwolla, Amazon payments, Stripe etc. Major points that one has to consider while selecting a payment gateway include number of card types supported by the payment gateway, volume-dependent or flat rate transaction fee etc.

Some of the key factors to consider while choosing the payment gateway are discussed below.

1) Monthly fee: Select payment gateways that has minimum monthly fee.

2) Product sale: Each payment gateway support sale of certain type of products or services. It is wise to check out the products that are supported for sale by the particular payment gateway such as physical goods, digital products etc.

3) Multiple countries and currencies: The more number of currencies the payment gateway supports, the more it is beneficial. It makes the trade to be more global.

4) Onsite/Offsite: If the payment is done within the site then it is onsite otherwise it is offsite. Onsite payment may be useful when volume of sales is more. Offsite may be preferred for small payments.

5) Sign-up fee: Select a payment gateway that does not have sign up fee. When your volume of online product sale is more then sign up fee can be effective.

6) Service/Transaction fees: The payment gateways with low transaction fees can be your ideal choice. In few cases, well established payment gateways charge a little higher transaction fees and you have to choose them since it has good reputation and trust among customers.

7) Recurring payments: Payment gateways that support recurring payments can be useful for product or services that are provided as subscription.

8) Support: This has to checked such that you can get maximum support from the payment gateways to clarify your doubts.

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Masterminding Next Gen Ecommerce Websites

You may be either a newbie or experienced pro in the field of ecommerce business, yet your commercial success or financial up-heave will only be counted for the day to establish yourself in the industry. People who visit your site and engage in activities associated with your site encompass your success or failure stories.

Some of the best practices that you can adopt to enhance your ecommerce business by converting your visitors to customers, and retaining your existing customers on the site are discussed below.

1) Make them comfortable: Customers or site visitors are the right person to whom you are going to promote your business. So let it be more customized and personal. You might have collected many information from the customers but may not have used them even once. The real success of your ecommerce site is to make the customer at home by using personalized data work out for you. Recognize your customers on their next visit.

2) Social connections: Today’s world is totally interconnected with the social media like Facebook, Twitter, Linkedin etc. You can allow your customers to share the information on your ecommerce site on other social media sites such that more people become aware about your business. Increase your opportunity to get noticed in the public.

3) Mobile compatibility: With smartphones slowly penetrating the world of ecommerce it has become essential for the ecommerce site to get featured on mobiles. It is wise to include mobile apps or dedicated mobile sites which can attract the crowd.

4) GPS facility: Promote your products to the customer who is in proximity to your business. This can be made possible via GPS facility which provides exact location of the visitor on the map. The push notifications can be forwarded to the customer mobile making him agile to do shopping.

5) Interactive UI: The bounce rate from ecommerce site is more when its UI is totally collapsed. The user interface decides the way in which the end user will interact with the site which should be simple and user friendly. The UI may also be creative and fun-filled to retain the customer.

6) Custom need: You may not buy a product when you are not convinced that it is exactly what you want. Convincing the customers to feel that the product will best suit them is one of the best practices that can be adopted with ecommerce site. You can tell him it is the color you want, it fits his budget or sometimes even paint the house model to show its appearance. The product should be applied to the life style of the customer.

7) Manage images: The image resolution and clarity plays a great role in creating the first impression on the customer. The images should be handled properly with good layouts. Scaling of the images can be done with options to view maximum images in the grid, scroll down options etc. One can even provide zooming option such that user can view the product more clearly.

8) Show what you sell: Carried away with the thoughts to provide more wonderful navigation and extra effects, some ecommerce site fail to show what they really sell. The customer’s attention should be centered over the products and not on your web gimmicks.

9) Panels: Show your best efforts in managing the menu (using DHTML and Ajax) by properly handling the categories or panels. The contents can be made dynamic and interactive. The related products or items which are relevant to the customer should be showed on the page. The product attributes like size or color should be properly managed.

10) Text handling: HTML5 has added the convenience for the people to get more textual with best typographic palette. This should be utilized to the maximum to make the site appear personalized.

Conclusion:

The ecommerce site which has all the above features will definitely live in the heart of the customer and infact bring good business and income. There are many valuable ecommerce solutions in the market which provides the above features by instantly building the site.

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#10 Ways to Promote Ecommerce Website

E commerce is an industry that is continuously growing. As per Forrester Research, e commerce sales in the US will keep growing at 10% growth rate with a total retail sale reaching upto $250 Billion by 2014. It is expected that US e-commerce sales could top $434 Billion in 2017. As per recent findings, the global B2C e-commerce sales will be USD 1.5 Trillion in 2014.

Though millions of e commerce sites are out there in the web, thousands of newer sites emerge each day giving tough competition with other sites. The success of the e-commerce solutions depends upon the marketing strategy adopted. The percent of unique daily visitors (conversion rate) decide upon the actual sales happening on the website. Normally the conversion rate ranges from 0.5% to 15%, where a successful e-commerce site should have a minimum of 2% to 5% of conversion rate.

The source which brings in traffic to the website is the main focus for the success of the online shop. Plenty of promotional activities like email promotion, campaign, affiliate marketing etc helps to bring in traffic. Some of the most contributing factors that help to increase the sales via attracting good traffic include group buying deals, auction, loyalty, Pinterest, Facebook, videos, Infographics, branding etc.

1) Affiliate marketing: A fixed percentage of amount is provided to the affiliate site when it captures and sends traffic to the online store. Promotional discounts can be provided for certain affiliates. Sales via affiliates can be monitored via Google Analytics.

2) Campaign management: Running campaign for specific period can bring in more informed customers. The customer navigation across the site can be viewed and the number of repeat customer can be focused.

3) Pay-per-click: This is a quicker way to attract traffic into the site. One should be clear in selecting the right keyword for promoting the product or service. People click the words to get directed into the site, and you have to pay for running the adwords. If there is atleast 2% conversion, it is expected that remaining 98% can be converted with re-targeting the focused customers.

4) Loyalty programs: Announcing loyalty programs can convert visitors into regular customers. Infact loyal customers spend more. By offering points on every purchase, the probability of repeat shopper is increased. By rewarding the customers, e store can ensure that he returns again for purchasing.

5) Group buying deals: The value of ecommerce solutions are increased with the introduction of group deals which attracts more customers to the site. People get impressed with the huge discounts and tend to choose group buying to make a purchase at cheaper rate. This is a win-win situation where the site earns more traffic and sales while the customers enjoy discounts.

6) Facebook: This is the fastest growing network, and promoting your products via Facebook can reach more customers quickly and effectively.

7) Pinterest: This 3rd most popular social site provides pin boards for ideas, holidays, jewels, fashion and much more which is linked with e-commerce site. It motivates and inspires the users to make an in-direct sale.

8) Auction: When a customer gets an opportunity to buy a product cheaper by using auction option then they tend to use the site again and again. Infact they can choose either to buy directly as in shopping cart or participate in auction which increases the sales on the site.

9) Infographics: The features of the product can be explained via visual data which can act like an introduction to shopping trend to promote sales and increase media presence.

10) Brands: Establishing brand names can contribute highly for increasing sales revenue.

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