Ecommerce Jargon For New Web Store Owners
By | February 8, 2010
There are lots of shopping cart software providers out there (3d shopping cart, Agora shopping cart, to name a few). But whether you are using a low cost shopping cart solution or one that costs a bomb (or better alternative: you’re getting InstanteStore), a newbie online merchant might get lost in all the ecommerce jargon strewn across cyberspace. It seems that everyday new terms are being coined. Some terms stay on but many more are dismissed just as easily as the were coined. Here are 5 terms which have been here been with us for a while.
SEO
Search Engine Optimization or SEO is a way of driving quality traffic to a site without any financial outlay. This natural or organic method involves tweaking the site’s content, coding and HTML (Hyper Text Markup Language) to raise its relevance to certain keywords and make it easier for search engines to index and subsequently improving the site’s visibility on a search engine’s result’s page (SERP).
SEM
Search Engine Marketing or SEM is a way of advertising a site via the use of paid placements or paid inclusion. This form of internet marketing can raise your visibility in SERP’s much faster then SEO alone, but at a cost of course. Before engaging in an SEM program, make sure you carry out a viability study. Ensure the returns can justify the investment before you go out and spend your hard earned cash.
Hard Goods And Soft Goods
An online store may sell various goods that are generally divided into 2 categories - hard goods and soft goods. Hard goods are tangible items like books and MP3 players. Soft goods are products that exist electronically like MP3’s, software and ebooks - items that can be downloaded. The excellent thing about soft goods is that you need not worry about packaging, shipping and storage space. Practically every process involved in the sale and delivery of soft goods may be completedautomatically. Selling soft goods is popular with plan to increase their manpower.
Internet Merchant Account
An internet merchant account facilitates the receiving of online payments, generally by credit card. If you have problems obtaining an internet merchant account, you can consider the services of a merchant broker. A merchant broker would then charge a setup fee and provide the software and hardware necessary either by lease or sale, as needed.
Conversion Rate
Conversion rate has nothing to do with religion. But rather it pertains to the percentage of visitors to an online store who are converted into buyers. Conversions do not happen automatically and depend on a few factors to help capture a visitor to buy from a certain store. The clever use of images, content and call to action phrases all play a part in this process of conversion. All content should be concise and to the point. In actual fact, everything on a web store should be geared to convert traffic, whether directly of indirectly. Web pages should be clear from clutter and all elements that may distract a visitor for the actual converting into a customer.
So before you sign up for a feature-rich yet cheap shopping cart solution like InstanteStore, be sure you brush up on your ecommerce jargon.
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