The world is going digital, now you can do almost anything online, from earning a degree to socializing, holding meetings and shopping.
With everything going digital, your brick-and-mortar shop should too. Here are some ways you can increase your profit if you have an E-Commerce website:
Transactions fees is the expense paid by the merchant to the service provider or website owner whenever someone decides to buy the merchant’s goods. For example, a website with multiple merchants selling cosmetics, whenever a customer purchases an item from a merchant, this merchant is charged a percentage from the transaction. Transactions fees usually vary from 0.5% to 5% of the transaction amount.
This way, the service provider can provide an E-Commerce platform for merchants and customers to buy and sell and still profit off this relationship.
An example would be Amazon which charges their merchants for every purchase.
This type of fees is either paid monthly, quarterly or annually to receive a service on a steady basis.
If you own an online magazine website or an online newspaper platform, some people may still prefer to get copies every month. These customers can subscribe annually instead of paying each month to receive the paper. A user may pay an amount of x for the magazines to arrive to their door every month.
An example would be Netflix which charges users a monthly subscription fees for them to watch movies and series.
Another profit generator is ads. When a merchant chooses to advertise on your website, they can choose to pay per impression; whenever a customer views their ad for over a second, they are charged a fee. These merchants may choose this type of ad because it is delivered to more people, allowing more customers to learn about their product.
Another type of ad is the PPC. Whenever a customer views the ad and actually clicks on it, the merchant is charged a fee, which means that the customer displayed interest for what is being advertised.
Both types of ads, the PPC and PPV are not only exclusive for merchants who sell on your website; these ads can be for any other websites or entities who want to advertise. You get paid either way. The only downside is that these ads can divert the attention of your visitor, making their attention directed to the advertiser and skipping your website all together.
The Featured Listings solves the advertising problem because it is only exclusive to your members. This is where a merchant wants to list his products on top of other merchants’ who are offering the same thing.
You can usually find this on booking websites, where hotels pay the website to list their hotel on top of the list. So when a user searches hotels in Paris, the featured hotels come on top of the list.
Having an e-commerce website is now a necessity for most businesses. In fact, it can bring additional profit in comparison with brick and mortar. If you want an e-commerce website, contact us here: https://goo.gl/sRFhpo and we will develop your website in only 3 days, built native with your own branding.