The domination of eCommerce Development sector hasn’t gone unnoticed in the recent past. With the advent of the internet, it’s no wonder why more and more people find eCommerce Stores as much more attractive alternatives for selling and purchasing all sorts of goods. As a customer, you are more likely to be showered with unbelievable discounts, have the luxury to have everything delivered to your resident. As the most renowned Magento Development Company in India, here are a few terminologies that every eCommerce Website owner should know in 2019. Let’s dive in –
1. B2B: In Business-To-Business Model, two interested parties (firms) will form a partnership in order to exchange goods and services with each other. It can either be between a manufacturer and a distributor, or a wholesaler and retailer or any similar combination. Indiamart, for instance, is a renowned platform that functions on the B2B model.
2. B2C: On the Other hand, when Business-To-Customer model is in place, then the trade is laid directly between the supplier of goods (you) and the end-users (your consumers). A huge number of successful B2C based ventures (likes of Amazon, Flipkart etc) are now the preferred outlets for shoppers worldwide.
3. Dropshipping: With the introduction of this phenomena, business aspirants were no longer needed to maintain a physical store. The requirement of stocking up truckloads of goods just for the sake of it is no longer prevalent with this phenomena. A manufacturer can directly ship his products to the customers.
4. Call To Action: Call to action is basically a pop-up or signal that encourages the user to take a certain action (usually in relation to buying your products). Options such as “Buy Now”, “Call Us”, “Know More”, “Add to Cart” etc are all examples of CTA links. These buttons prompt users to make a move.
5. CTR: Click Through Rate is an essential metric to judge the success of your ad campaign. CTR is defined as the ratio of the total number of clicks to the total number of visitors on your website/page/content. Your CTR can be influenced with paid marketing but organic leads are a blessing for your CTR output.
6. Conversions: For an eCommerce store, a conversion is said to be generated when the customer either actually goes on to buy a product, or at the very least fills out the contact info/enquiry box after visiting. Conversions are direct signals as to the interest being shown by the said person.
7. Lead Generation: A lead is said to be generated when a potential buyer comes across your services, is interested in them and consequently contacts you to make inquiries regarding the items that he/she is looking for. Someone simply visiting your website isn’t a lead, but the interaction/exchange of contact information certainly is that.
8. Return On Investment: ROI is calculated as –
ROI= (Total Profits/Investment Costs) x 100. Simply put, ROI is the net sum that you finally make at the end of a timeframe, after excluding the invested money. ROI is closely looked at by the companies to come up with strategies that continuously improve upon their net income.
9. API: An Application Programming Interface is a software that enables two unrelated applications to interact with each other. So like when you click on a certain app, and it simultaneously directs you to another app on the store, then this whole process is carried out courtesy of the API installed on your device.
10 Bounce Rate: Bounce Rate is the percentage of site visits where a visitor leaves your website from the landing page without browsing any further. So needless to say, high bounce rate is an unwanted commodity as it communicates to the search crawlers not to display your website higher up in the search rankings.
Conclusion: Future Profilez is the leading eCommerce Development Company in India. Our excellent Web Development team will create an online store for you that shall guarantee organic lead generation to your website. Our SEO/SMO techniques ensure that maximum eyes are laid onto your services.