There are a number of ways a business can transact online. It can set up its own dedicated website with integrated transaction functionalities so customers can complete orders and payments online. It can also take advantage of different types of ecommerce platforms, where businesses can promote their brands, products and services and transact with customers who are users of these online platforms.
There are a number of different types of ecommerce platforms, each designed to serve a particular type of business. If you are a business owner, you can decide which type is most suited for helping you conduct your business online.
Contract Sites
Contract sites are platforms where people looking for freelancers or need help with short term projects can post their project requirements and have service providers bid on them. It lets buyers compare and select the professionals based on prices and reviews. It is ideal for services companies like plumbers, builders, web designers, software engineers and SEO professionals. From the business perspective, these websites provide a large source of work. They will always be able to find people who are in need of their services.
Marketplace
Everyone should be familiar with online marketplaces. They have been around since the introduction of the internet. These are sites where people can find almost anything to buy and buy directly online. The items you will find on a marketplace website are not being sold by the company that runs the marketplace but instead by independent sellers who join the marketplace website and set up their own virtual shops to sell their products. There are a number of well known international marketplace websites. For online sellers, these marketplaces provide a large pool of potential customers. Setting a virtual store on these marketplaces is like setting a stall or a shop inside a busy shopping mall. The sellers benefit from instant exposure to millions of virtual shoppers.
Ad Exchange
Online ad exchange websites or ad marketplaces are websites designed to help content publishers sell advertising on their websites. Content publishers that have built up a large audience can't always find advertisers to fill up their ad inventory. Unfilled ad space can't be recycled so it is better to try and sell them at a lower rate than to let them go to waste. These ad exchanges allow publishers to advertise the spare capacity on their website and the ad buyers can bid on these ad spaces. It means publishers no longer need to cold-call potential advertisers to try and sell their ad space and they can just advertise on these online ad exchange websites and ad buyers from all over the world will be able to see it.
Price Comparison
Price comparison websites are websites that help consumers find the best deal on a range of things from insurance, flight tickets to hotel rooms and credit cards. Customers like to use them because they can get the prices from a large number of vendors by entering their details only once. As a result of this convenience, price comparison websites often can attract a lot of virtual shoppers. Businesses can't afford not to be listed on these websites because if their customers use it and they are not listed, there is a good chance the customer will go with their competitor instead. Those businesses that participate on price comparison websites benefit from instant exposure to millions of virtual shoppers. It is a great way to gain access to new customers and steal customers from competitors.
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