An eCommerce website is a site that sells products to a buyer irrelevant of the product is being digital or tangible.
The principles of making money with an online business is the same, whether you are looking to make a living from your adventure, make some additional money or save for a special holiday. By running your eCommerce business efficiently you will be able to reach any financial goal you set yourself.
If Nobody Knows About Your Site…..
Website visitors are the most important part of your plan to making money with your website business. If you are the only person that knows about your site you are not going to make any money from your online venture.
When you business has a good level of relevant visitors this will lead to sales of your products. If you eCommerce site is selling products at an affordable, competitive price then it is only a matter of time until you start generating sales and profit from your traffic.
How Much Traffic I Need?
Really, this question depends on how much money you want to earn.
To calculate how much you can make you will need the following information
- Average sales for every 100 visitors to your website. As a guide this is around 2% (for every 100 visitors 2 visitors will purchase)
- Average order value. The average order value for eCommerce sites in the UK £26, this figure is based on figures our customers experience
- Your average profit margin. 15%, some products will be more some will be less
- Average cost for each visitor. Your marketing spend divided by the number of visitors
Once you have a grasp of the traffic volumes you require to match your financial goals you can then concentrate on generating traffic via your marketing strategies.
How To Generate Traffic Via Marketing
Predominantly there are six key ways you can market your business and drive traffic to your website as listed below. Over the coming posts we will discuss each of these in turn and help you to build an understanding on the differences, benefits and pitfalls of each method.
- PPC Advertising
- Email Marketing
- Social Media Marketing
- Influencer Marketing
- Search Engine Optimization
- Content Marketing
You Can Earn Money Through an eCommerce Site
There is no doubt that anyone can make money running on online business. Being equipped with the right tools of course will help anybody who wants to make money online. You may choose to only use one or two of the above marketing methods or them all, you are in full control of what you put in and as such what you can get out of your business.