E-commerce opportunity
There are some acronyms and terms that we need to understand, one might say “hey, isn’t this S-E-O?”, and the answer is not exactly. These terms could be “key performance indicators” yet at the end of the day, they exist as gears of the electronic commerce machine.
click-through rate (CTR), the percentage of people who clicked your ad from the total impressions.
“Landing Pages”, should be related to the ad that clicks to it.
“Conversions”, must happen after a click, and are always more valuable than a click.
- Filling out a form
- Downloading an eBook or case study
- Signing up for your eNewsletter
- Making an online purchase
Pay-per-click (PPC), an advertiser pays the website if the ad is clicked. Google, Amazon, Bing (Miccrosoft). Social networks like Facebook, LinkedIn, Pinterest and Twitter also use pay-per-click as an advertising model.
What is an impression? An add that is served, a page may have more than one ad. Usually impressions are paid out per one thousand, so you will see “CPM”, or cost per one thousand (impressions), the “m” stands for “mille” or one thousand
So with a few terms now better defined in the mind, we can progress to the business of electronic commerce… We have a poetic posting style at elementarray… The following serves as a means to enlighten and plant the seeds to just how we can dip our toes into the binary seas. I love analogies and metaphors. Pictures say a thousand words, what we aim to do here at elementarray is create word pictures in the mind through well crafted literary devices. Sail on!
Set up an E-commerce site Woocommerce &
Shopify. I’m going to plug my favorite CMS here, WordPress. So what can we sell with WordPress & WooCommerce or Shopify for example?
- Services
- Digital products (anything downloadable, software, artwork, ebooks).
- Physical products (make arangements for distribution!).
- Bookings (vacation properties, concert events, psychiatric appointments… what ever you can think of).
- Subscriptions (comiczines, maintenance programs, monthly software installments).
- Be the middle man, sell third party products as an affiliate.
Affiliate marketing – 80% of affiliate programs today use revenue sharing or pay per sale (PPS) as a compensation method, 19% use cost per action (CPA), and the remaining programs use other methods such as cost per click (CPC) or cost per mille (CPM, cost per estimated 1000 views).
“Pay-per-click” advertising (Google Adsense), cost-per-click AdWords are the advertisements that show up on the top of Google search result pages. AdSense is the reverse, allowing publishers to tap into Google’s immense advertising network so that other advertisers can run ads on their website.
Sell advert space and you can get paid depending on how many visitors you get. Typically it’s quoted as a dollar amount per one thousand impressions (CPM). You might see it as $5 CPM. If the website gets 100,000 visits a month, that ad price translates into $500 bucks. The good thing about this approach is that if your site gets a ton of traffic from different sources, your simple banner ad pricing can go up to as high as $5000 per month! The obvious downside is that if your site doesn’t get a lot of traffic, you can’t expect to earn much either.
Sell digital products (Ebooks etcetera)
PayPal, accept donations From visitors – how to make and put a paypal button on your website. Be aware and prepared, we need a paypal account and if we want to get paid, join it to a bank account.
Pay per post & selling sponsored posts
Flip websites?!? (Alot like buying a”fixer upper”, buy the property, build it up, turn it over, repeat…) Flippa
