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Making Money with eCommerce

Tim and Steve are whiz kid in Internet marketing, as we know their previous product “Commission Blueprint” became so much popular amongst rising internet marketers. So they have decided to launch “Niche Blueprint” as a follow-up of “Commission Blueprint” Grab the Niche Blueprint Review for details. Now lets talk about e-Commerce with following article.

E-Commerce - All You Need To Know

This article talks about Electronic Commerce, what it is and its advancing role in this Internet age.

What is E-Commerce?

E-Commerce or Electronic Commerce (EC) is the practice of buying and selling varied good and services on the World Wide Web (Internet). E-Commerce in its basic sense means the same as traditional commerce where buyers and sellers come together for doing business by buying and selling goods and services. The difference is that e-commerce happens over wired communication lines connected throughout the globe where the World Wide Web serves as the central
medium for all trading transactions. E-Commerce also happens through the use of more limited forms of communication such as email, facsimile or fax.

E-Commerce enables sell and purchase of commodities and services right from your home and without leaving for seeking what you need. You have to simply hit the service provider’s website, search for what you need or setup what you want to provide and instantly get the business done. If you are making purchases online for virtual products and services, most of the time you will get the products and services at the instance of your payment acknowledgment.

Monetary transactions happen over secure gateways and encrypted channels, so we can term e-commerce to be a reliable trading environment. Payments can be made with the use of Credit Cards, e-Checks, Payment Gateways or even through traditional payment systems.

Types of E-Commerce
Today, e-commerce can be found in various different types such as -

• Business to Business (B2B)
  Business-to-Business e-commerce has been around for some time. Over 90% of all e-commerce transactions on the Internet are B2B. B2B enables automating transactions between trading partners for business efficiency. B2B is also known to be Electronic Data Interchange (EDI).

• Business to Consumer (B2C)
  Business-to-Consumer is considered to be one of the best things to happen for e-commerce and the Internet. It continues to grow by leaps and bounds with every passing day. Popular websites such as Amazon and like have cashed in over the rise of purchases that happen over the Internet. B2C involves direct selling to the consumer over the Internet. The service or product that is being sold does not necessarily be virtual or intangible, but as a matter of fact most transactions that happen are related to tangible goods.

• Consumer to Business (C2B)
  Consumer-to-Business model is a complete reversal of Business-to-Consumer model. In a Consumer-to-Business Model a consumer offers goods or services to companies and the companies pay for them. We can see examples of C2B in forms of affiliate marketing, answering online polls for companies, being a free lance developer, etc.

• Business to Employee (B2E)
  In a Business-to-Employee e-commerce, companies offer products or services to their employees in an intranet environment. B2E typically is used for automating employee related work processes. Examples of B2E applications can be seen in online insurance policy management for employees, offers and rewards program for employees, etc.

• Consumer to Consumer (C2C)
  In Consumer-to-Consumer e-commerce a third party builds a transaction bridge between two or more consumers involved. Online Auctioning can be considered to be a good form of Consumer to Consumer e-commerce model where consumers set up sale of goods and services for other consumers where other consumers have to bid and win the specific good or service. The third party which connects consumers charges a nominal fee for their services. They are in no way related to the goods and services being sold or bought and they are not responsible for QA and other such factors.

Advantages of E-Commerce
Starting with Electronic Commerce? These are some of the advantages that will help you understand the power of e-commerce applications.

• 100% Business Uptime
  E-Commerce systems are available for people for 24 hours a day, 7 days a week and 365 days a year. They never take a break or close down for the day or take public holidays.

• Global Access
  E-Commerce systems can be accessible by any one across the World Wide Web. Any person or business having just an Internet Connection can access e-Commerce systems.

• Quick Response Time
  Transactions can be handled over the Internet instantaneously without high response times, most of the times much faster than offline systems. Messages are delivered to the end of the globe at the snap of finger, enabling quick commerce.

• Cost Efficiency
  E-Commerce is very cost efficient and economical. General costs of running a business otherwise are far higher than that operated with the help of technology and e-commerce. Staffing, middlemen, overhead costs, etc can be reduced drastically making handling business handling and administration much more easier. Most of the transaction procedures can be automated without any human intervention.

Disadvantages of E-Commerce
Like everything that is good has some of its own disadvantages, e-commerce too has certain disadvantages. Some of which are -

• Delivery Time
  Physical goods take some time to reach your home when you buy them online whereas if you go to the local store and buy them, you can get them instantly. Delivery times may range anywhere from a day to even a month. Moreover, perishable goods cannot be considered to be shipped for such long delivery times as they tend to get destroyed during transit.

• Hesitancy
  Most customers and businesses are hesitant to do transactions online. This is due to the fact that if a person wants to feel the service or goods he is paying for, he lacks that on the Internet. Moreover, some people are accustomed to shop with family and friends and hang out to malls and big outlets, which is otherwise unavailable on the Internet.

• Online Safety
  Online safety is a critical factor that most people consider before even thinking of performing commercial transactions. Customers and businesses should be assured of privacy implications, confidentiality, security and like factors. An amount of trust has to be developed before starting or involving into transactions.

Continue reading about how to make money with eCommerce

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Ecommerce Business Plan - A Plan of Action

Niche Blueprint will show you how to design your eCommerce business plan to grow your business on web, globally. So lets understand first what Ecommerce Business Plan is.

The Ecommerce Business Plan is a plan of action. An action plan dedicated to the needs of the customers. Make sure your Ecommerce Business Plans meet these needs.

Enlarge Image This is where the online business venture begins.The ecommerce business plan is a plan of action, without which nothing of real value can ever be achieved. The ecommerce business plan will cover a number of features from the design of the web site to the fulfillment service methods; each of these features should be the best available with a heavy bias towards the customer. The product, around which the whole ecommerce business plan will revolve, will have to fulfill certain criteria in order to make the online venture a success. These are:

Homogeneity - the product, though obtained from different suppliers/sources will have to be of a homogenous quality and dimensions. Whether it is a mobile set or a book the item should be favorably comparable to the ones that are bought elsewhere.

Ability to ship the product - before you launch your online venture you should find out whether the product can be shipped easily. This is will a daunting task if the product is bulky or very fragile. If the customer cannot get the product quickly and in tact, you will loose repeat customers and word of mouth advertising.

Cost of delivery - in similar manner heavier items will cost more to deliver to the door step than lightweight items. The cost of delivery is an important factor that decides the customer uses when deciding whether or not to buy an item. Hence, keep this cost as low as possible.

Cost of the product - many customers are attracted to the online shopping because they get many of their favorite products at a much lower cost than in the real- shops. You need to keep the cost at least 10 percent less than what is available in the brick-and-mortar market.

Availability - do you plan to have a good stock of the product that you propose to sell or do you have a good tie-up with some supplier(s) which can provide you with the product on the spot. If the product is not available easily to the customer - after the payment is processed - you will have a very unhappy customer.

Target market - think whether you need to address the needs of a certain age group, geographical area, or it is to be available for all people, all over the world.

Payment options - what type of payment options you are offering will greatly influence the sale of your product.

All these and more will have to be taken care of right at the beginning; at the stage where the ecommerce business plan is completed.

Kerry Ng is a successful Webmaster and publisher of The Ecommerce Blog. For more helpful information about Ecommerce

visit ecommerceinfoblog.com

By Kerry Ng Published: 7/20/200

E-Commerce Strategy Development - Online Music Case Study by Sam …

The UK online music market is a potentially huge market. Over the last eighteen months a great number of legitimate music services like ourselves have emerged to take advantage of the new music distribution model pioneered by Napster’s Shawn Fanning in 1999. Although we currently hold 35% of the online music market, we will have to continue to develop our strategy and online practises if we want to build our market share and compete with the big international competitors, namely the iTunes network. This document is both an analysis of our current strategy and a proposal to extend it.

Analysis of current system

The strategy we have developed over the last two years centres around selling songs on a price per song basis. This is one basic strategy that all online music vendors have adopted. One of the key factors in Apple’s success was its famously low 99 cents per song price tag. Because of this, we, like many other online music providers will find it very difficult to compete in pricing. According to popular legend, Apple secured this low price by refusing to sign the terms offered by the record labels then going ahead and launching iTunes anyway, daring the record labels to pull out. Labels have repeatedly tried to renegotiate this deal to no avail. None of the labels are willing to risk pulling out of the iTunes network and losing their foothold in the paid download business. As well as ‘pay per song’ there are a number of other tactics for selling music online. One method proposed by Ken Hertz, who represents Alanis Morrissette among other recording artists, is a flat fee collective licensing system. In flat fee collective licensing customers pay a fixed subscription fee to be allowed to download as much content as they want. This income is then divided among the content providers based on the percentage uptake of their content, as opposed to the unit uptake of their content (Fisher. WW, 2004). Fisher believes this model will lead to a reduced profit per song but an increased uptake of the service. This has already been shown to be an effective business model when applied to video rental. Having been pioneered by Blockbuster with their 13.99 online video rental service it has since been adopted by Amazon and Screen Select to provide similar services. I believe this model would be successful for us as it lets customers believe that by using the service regularly they are getting good value for money. Value for money has been a sticking point for music fans for a long time. Often, many people justify using illegal services like Emule or Limewire by claiming that the cost of purchasing music legally is excessive for

the product. The main problem with this model is that it would require the content owners (the record labels) to license their work to distributors.

Review of competitor activity

Our market is currently divided among a number of legal and illegal music services. These include services like Amazon where you can order a physical copy of a music CD online, services like the new Napster where you can search and download both free and paid for music and (semi) illegal services like Emule P2P where you can download anything you want for free.

Napster:

Napster has been involved in mainstream online digital distribution of music longer than any other company, and is arguably the most famous company in the field. Napster was launched as a free music sharing facility in 1999, and faced legal battles from the outset. It was finally forced to succumb to business pressure in 2001, at which point it began the six month process of re-inventing itself as a legal service. This brings us to the Napster we see today. Napster currently offers its customers three packages, ‘Napster To Go’ for 14.95 a month, Napster Membership for 9.95 and Napster lite. ‘Napster To Go’ and Napster Membership allows customers to download as much music as they like to their Computer. ‘Napster To Go’ also allows music to be downloaded via special terminals in high street stores and internet ready televisions direct to MP3 players. Napster Lite is Napster’s basic free package. It allows customers to pay for music on a per song basis at 79p. Customers can choose what they want by listening to 30 second segments of the content before they commit to purchasing. Napster lite also allows its users to access music stored on other Napster users shared space, but this is carefully screened to prevent piracy. One flaw in the Napster system is that in order to continue using the content you download, you need to keep paying for the service. This will to lead to consumer scepticism as people won’t like the idea of being trapped in the service to keep their music collection.

iTunes Music Store:

iTunes music store opened its door for service on 28th April 2003. Its strongest asset is its seamless operation with the Apple iPod. The iPod is the most popular MP3 player currently available and like most Apple products, usability was high on its priority list during development. The existing popularity of the iPod and iTunes combined made the process of extending the commercial attributes of the system a simple task. The music content is protected with Apple’s fair play digital rights management (DRM) but there are several hacks for this which Apple has so far been unsuccessful in blocking. Since its launch the range of features it offers has continued to expand. You can now buy gift certificates, download video and special content, create your own iTunes store and upload your own music via garage band, Apple’s music production suite. By allowing their users to produce and sell their own music apple has opened the door for their service to be used in many novel ways. For example Stanford has recently started using iTunes to freely distribute special academic and promotional content centred around learning and living on campus.

P2P networks:

The P2P networks are arguably the greatest threat to our model of business. Despite frequent law suites and attempts at sabotage record labels have been unable shut them down. A peer to peer network is basically a distributed file system where the shared content on every connected computer gets grouped together into one super directory. A search facility then allows connected users to find and download what they want to their local shared directory. As content gets spread across the network it becomes more accessible to other users. From the users perspective this has the advantage of being free, but the disadvantage of being unreliable. Content is often mis-labelled or incomplete. There are a number of tactics employed by content owners to further disrupt P2P activity including suing downloader’s, distributing mis-labelled content, and distributing content that harms a downloader’s computer. Record labels have also attempted to stop piracy at the source, by preventing users from uploading their music to their computers. However, this method has proven unsuccessful as it can be easily circumvented using real time encoding software, which encodes the music straight off the microphone jack. Record labels have also been sued by consumer rights groups and had their reputations tarnished over the legality of this tactic.

Online CD sales:

Among many consumers a consensus seems to have formed that paid music comes with CD and downloaded music is free. I personally like to have something physical to own when I purchase music. For this reason online CD sales are still very popular. CDNOW, Amazon and HMV online are some of the most popular retailers for this in the UK. A CD has the advantage of being a more tangible asset than a download and is therefore better suited to being given as a present, which will make a big difference to sales over the holiday season. It also doesn’t require the same expertise to use as a downloaded track. A CD essentially works like a little metal version of a vinyl. It is self explanatory to every generation how to make a CD player play a CD where as many people, particularly in older generations don’t know how to use a computer. This gives a CD a much wider potential audience. It may be beneficial for us to also consider selling music on physical media.

E-Commerce strategy

In order to plan our future direction we need to take stock of our current position. We can do this using a SWOT analysis.

Strengths:

1) We currently hold 35% of the UK downloaded music market, in business terms this equates to a majority. This is a large base of customers who will hopefully stay with us if we can continue to extend our services to compete with those of our competitors.

2) With the help of this plan we have a number of new revenue streams that we will hopefully implement soon. These will, if implemented properly, lead to an increase in our revenue and customer base.

Weaknesses:

1) We have not attempted to compete in the international downloaded music market. It makes no sense for us to only sell to UK customers. Traditional geographic limitations don’t apply on the internet. The complication of extending our system to sell music in many currencies is small compared to the benefit of increasing our potential customer base a hundred fold.

2) We don’t yet have systems in place to deal with things like gift vouchers or coupons that could be used for promotion.

Opportunities:

1) We current only allow our customers to purchase one song at a time off us. We could also allow them to purchase whole albums or customised content off us.

2) Although iTunes has secured a much better per song price than we could, they do not currently offer a subscription service. Our second most popular competitor, Napster does offer a subscription service but their customers have to continue paying for the service to continue using the content they’ve downloaded. If we can negotiate a subscription service that doesn’t lock the customer in we will be seen as the superior service.

3) iTunes is never advertised by itself. It’s always ‘iPod + iTunes’. If we can adopt a similar music player, develop our software to work seamlessly with it and negotiate cross promotion we will be doubling our exposure and simplifying the use of our service for the customers. This would also allow us to extend our service in a similar way to ‘Napster To Go’. We could begin to sell our content in high street stores using dedicated terminals or via internet television. This would allow our customer base to grow beyond the computer literate.

Threats:

1) File sharing networks offer the same service as us for free. Attempts to close these services down have so far been mostly ineffective. Although the close of Napster in 2001 was highly publicised it was ineffective as by this point many more services with more tenable legal position had emerged.

2) Many people expect to get something tangible like a CD or DVD when they buy music. One of the major tasks that faces the downloaded music industry is convincing people of the value of an intangible asset like a computer file.

3) Our primary competitors, Napster and iTunes continue have a larger international customer base than us. They have more exposure and more assets to extend their service with. We can’t hope to compete by trying to out compete in existing models, we need to develop new methods of selling music.

4) Our primary competitor, iTunes, has negotiated excellent prices with the content providers. Without the same economies of scale on our side it will be difficult to make the same deal.

In order to build what we have achieved so far I have compiled the following list of extension to our service that we could implement in the near future:

1) Develop a subscription service - We should develop a subscription service based on flat fee collective licensing that doesn’t trap customers in the same way as Napster’s services. This will be seen as a superior product by our target audience as it allows them to get good value for money from the service.

2) Custom CD service - In order to take advantage of gift buying in the holiday season, we should provide a service where customers select a set of tracks to be put on a CD or DVD, design a cover, and maybe add a personal message. The CD will then be burned and the packaging will be printed and sent to the customer for an additional fee. Basically what I’m proposing is a professionally produced version of a mix tape. This provides an extra income for us on top of the audio track sales and gives the customer something physical to give as a present. This is a service that none of the music-download companies I have found currently offers.

3) Ally ourselves with a popular MP3 player - A big part of iTunes success is its strong links and seamless operation with the iPod. By adopting a similar MP3 player, possibly the iRiver, we could tightly integrate our software with it, negotiate cross promotion and develop special terminals to sell our content in music stores, super markets, airports, train stations or anywhere else people are likely to be in need of quick entertainment.

4) Develop our international presence - We should extend the functionality of our site to allow it to sell music in many currencies. By accepting Euros and dollars we would be extending our potential customer base to twelve European countries, America and a number of smaller countries. This is potentially ten times as many customers.

5) Host a music community - We should allow customers to upload and sell their own content, taking a percentage of the income for administration. We could get a much better percentage of income from independent artists than we could off a major label with bargaining power and experience. Some of the artists we host may well end up becoming the next big thing. This would be great advertising for our company.

6) Incorporate gift vouchers, coupons and special offers - Gift vouchers are a popular Christmas present. Coupons distributed in the music culture magazines or by email like ‘Buy two tracks, get one free’ or ‘First five tracks free when you sign up’ would allow people to try our service before committing to it.

7) We could extend our system to recognise the sort of music a particular customer is likely to want based on past purchases. This would allow us to promote the right content to the right users so long as they’re logged in. Amazon has a similar technology built into their website and it has prompted me to buy books and DVD’s I wouldn’t have otherwise found. People often have very specific music tastes, so once we ascertain which genres of music a customer likes it will be a simple task to predict what they will purchase in the future.

Social/legal challenges

If we are to start selling internationally how should we approach pricing? The relative value of currencies changes daily. If for instance we were to offer our subscription service for 19.99 GBP per month, at the time of writing this would exchange to $35.00 USD and 30.00 EUR. When the exchange rate changes what should our policy be about updating prices? A policy that results in a rapidly changing price scheme will confuse our customers but a policy where prices can’t change quickly could result in us offering our service for too much or too little financial return. Another option would be for us to offer our service at different prices in different countries. This would allow us to better match the pricing trends in the local music industry. However, if we choose this option there is a possibility that our customers would start signing up in the region that has the lowest prices.

In order to implement a subscription service we will first need to negotiate a collective licensing scheme with the content owners. As discussed earlier a collective licensing scheme will likely lead to a reduced profit per track downloaded but an increased uptake of the service. We therefore have to convince the content owners that this model is potentially more profitable than the current model of setting a fixed price per unit or collection of music content.

We will need to protect the rights of the content owners by incorporating anti-piracy measures. Preventing piracy is a very difficult task that no one has yet mastered. Every time a new anti-piracy measure is introduced it is usually circumvented within three months (Moser, 2001). Apple currently uses fair play digital rights management and Napster currently uses Windows Media digital rights management. Both of these systems have already been circumvented. Content owners might not want a new service to operate on a security system that’s no longer effective.

"This was the case study of how eCommerce worked so far in Music industry. Tim and Steve’s latest product Niche Blueprint will show you how to increase your online business with N number of eCommerce strategies."

Electronic Commerce & the Digital Economy

The term electronic commerce refers to business transactions that take place on the Internet. Electronic commerce is far and away the fastest growing area of business in the world today. The convenience and speed that it offers both consumers and merchants is simply unrivaled by any other method of business available today. It affords people the opportunity to buy and sell products and services without leaving their home or office. Experts agree that electronic commerce will continue to grow with the Internet and the number of people who are gaining access to it every day. Below are links to information about electronic commerce and digital economy.

eCommerce is one of the fastest way to earn money on web. It’s the key to earn thousands of dollars but still under suspense! But now with Niche Blueprint Bonus pack you can learn those secrets and find your own way to become a master on eCommerce techniques. 

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