Online Store Business Models
Discover the 10 Business Models That Will Revolutionize Your Online Store and Skyrocket Your Sales!:
E-commerce
This business concept is offering real or digital goods for sale online via an ecommerce website or a website in connection to online market place like Amazon or Etsy.
When you sell digital products (like software, content, courses, etc), you need an ecommerce website with a payment system. You also can sell clothes in an ecommerce website connected with a dropshipping clothes provider for example (check our merchandise store ai4k.shop), in this case you don’t need an inventory or a logistic plan.
You can use an ecommerce website to sell physical products (you may buy wholesale products and then retail it through your online store). Or buy handcrafted designs and create an ecommerce website store with unique products.
Subscription-based
This business strategy entails providing a good or service on a continuing basis, such a membership to a content website or a monthly magazine subscription.
Service-based
In this business model, a service or consultation is provided online, such as web design, coaching, social media management, social events or freelance writing. This applies as well for Professional Services like Psychologists for example, that provide online consultation or via scheduling appointments.
Affiliate marketing
Affiliate marketing is a business strategy that entails advertising goods or services from other businesses in exchange for a commission on each transaction that results from a special referral link.
Any of the business models mentioned here are compatible with Affiliate Marketing. In your online store of any kind you can add links or ads using affiliate marketing.
Dropshipping
In this business strategy, a third-party provider is used to sell products and handle shipping. This business model requires some additional work, like products and providers research. You still need a sales channel and the customer service can be challenging as well. You can list your products in marketplaces but if you want to build a reputable brand you should have a website or an ecommerce website, adding more value for your customers.
Crowdfunding
In this approach, a project or product is funded by enlisting the small financial contributions of a large number of individuals, typically via an online platform. For crowdfunding there is third party services that can be connected with your online store.
Software as a service (SaaS)
This business model entails renting out a software program or utility, generally via a cloud-based platform. There are a lot of examples of SaaS business model which use AI platforms API connected to a website.
Other similar SaaS business model is a NFT store.
This business model requires additional web development.
Online courses and education
This business model entails charging for educational materials like video lessons or printable worksheets. You are basically a content creator, a coach, or a teacher. This business model is quite compatible with other strategies. We sell several add-ons that can help you launch a courses platform with membership for example.
Virtual events
In virtual events concept, conferences or workshops are held online utilizing tools like Zoom or Google Meet. For presencial or virtual events we offer add-ons or niche websites.
Specialty marketplaces
This business concept is creating an internet market that serves a particular niche or industry, like art or home remodeling. Sale channels for this concept usually are Etsy, Google, Amazon and Pinterest, where you can publish the products listing for a monthly subscription. Meta ads (which include Facebook and Instagram) works very well in this sector. The best way to do this is through an online store that connect directly to the sales channel.
In any case, remember you need a sales channel, through a marketing plan, by SEO and SEM strategies, through listing on marketplaces, or both.
Depending on your market you may need more currencies configured, not only to show the prices of your products but to process the payment in the best currency and ecommerce payment processor for your profits.
Marketplaces, ecommerce profiles by a monthly subscription, or solutions like Shopify may be “easy” to set-up and maintain, but they charge for the store and for every transaction, listing publication, web positioning and other features. We don’t recommend those services because they are expensive in the long rung and very limited in customization and on what you can do with your business.
If you expand your sales out of your country you should think in translating the original language of the ecommerce store as well.