Monthly Archives: June 2021

Digital Marketing, Social Media Marketing, Video Marketing

Everything You Need to Know About Ecommerce (2021)

eCommerce

In 1969, an insurance company owner was looking for a computer. He was Harry Gard. Harry was looking for something that can store a lot of data. Unfortunately, the available computer has too much data storage. So, his son-in-law, Jeffrey M. Wilkins, suggested that they buy it out and have the extra capacity rented. Jeffrey resigned from the burglar alarm company where he was working. He joined Harry in running a new company. This became CompuServe in 1979, the first American online service provided. On the other side of the globe, an English inventor, Michael Aldrich, connected a modified TV to a transacting computer via telephone lines. Alas, there was online shopping! Michael became known as the father of eCommerce. 

Three years later, the Boston Computer Exchange was launched. This is the first eCommerce company. It was followed by the first online marketplace for books in 1982 – Book Stacks Unlimited. Then, there was Amazon which also began as an online bookstore in 1995. In 1998, PayPal appeared as a money transfer tool for eCommerce. Then came Alibaba as an online marketplace for different products. The year 2000 witnessed the launch of Google Ad Words. This became a way for eCommerce businesses to advertise using Google search. They began using the pay-per-click (PPC) context, which was then separated from search engine optimization (SEO). Shopify, the first eCommerce platform with a point-of-sales system, rose in 2004. Until 2011, Facebook rolled out Stories ads to join the eCommerce bandwagon. 

Today, eCommerce has gone a long, long way. Since the beginning of CompuServe in 1969, technological innovations have driven its growth. To meet the consumer’s convenience and safety, eCommerce changes at a fast pace. Let us try to lay down everything you need to know about eCommerce in 2021!

WHAT IS ECOMMERCE?

A digital marketing speaker Hong Kong defines eCommerce as the buying and selling of goods and services over the Internet. It also involves the transfer of data and money to complete the sales. The name eCommerce began as the Internet was served using computers and electronics. The “e” stands for electronics, while “commerce” was referred to as the exchange of goods and services. This year, the global eCommerce market is expected to have annual revenue of $4.8 trillion. As 76% of consumers shop online, people realized the convenience of eCommerce. Like what a social media agency Hong Kong always says, with eCommerce, people do the following:

  • Don’t have to leave their bed while shopping.
  • They can opt for next-day delivery of their online orders.
  • They have a more personalized shopping experience by having more access to products and services information.

THE DIFFERENT ECOMMERCE MODELS

There are 5 different traditional eCommerce models, but there are more other niche models sprouting today. Among the traditional ones are the following:

  • B2B (Business to Business) where a business sells to another business like a manufacturer selling goods and services to a wholesaler and a wholesaler selling goods and services to a retailer. This eCommerce model does not involve consumer interaction. They commonly involve the sale of products that are combined, raw materials, software, etc. 
  • B2C (Business to Consumer) where the sale is directly taking place between the business and the consumer. This is the most popular type of eCommerce and the one adopted by Amazon and Shopify. 
  • C2B (Consumer to Business) where an individual sells products and services online to a business. Typically, it involves selling freelance services like consultancy, digital marketing, photography, writing, etc. A popular C2B platform today is Fiverr.
  • C2C (Consumer To Consumer) where an individual sells products and services online to another individual. Again, it typically involves the selling of freelance services like consultancy, digital marketing, photography, writing, etc. The most popular C2C platforms today are eBay and Etsy.
  • D2C (Direct to Consumer) is the newest eCommerce model. It means that a brand directly sells goods and services to its end customer without passing through a distributor, retailer, or wholesaler. Its most popular item is paid subscription features from varied social media networks. 

DIFFERENCE BETWEEN AN ECOMMERCE PLATFORM AND A WEBSITE

eCommerce is powered by online platforms and websites. 

An eCommerce platform is a software that allows the buying of goods and services online. It has all the components you need to run an online business. Instead of creating a website from scratch, an eCommerce platform allows online businesses to upload their product catalog using an interface. They can also consolidate data, design, manage, and promote their digital shops according to their preferences. An eCommerce platform is also equipped with an integrated payment system, security, and support. Some popular eCommerce platforms today are the following:

An eCommerce website is a site that facilitates the buying and selling of goods and services online. It adheres to the different eCommerce models. Retailers with brick-and-mortar stores can sell their products and services online by creating an eCommerce website. This website also serves as a link between freelancers and potential clients or service providers. It also allows product or software downloads. A recent trend on the eCommerce website has risen to the spotlight. Dropshipping allows the selling of goods without holding any inventory. Under this eCommerce niche, third-party sellers wait for an order before getting a supplier to fulfill the sales. Among the most popular eCommerce website today are the following:

THE BOTTOM LINE

Running an eCommerce store is not easy, but overcoming the challenge is worth it. You have to focus on earning the consumers’ trust to buy your products and services. The best way to do this is through mobile optimization as 6.4 billion people use smartphones today. According to a video marketing agency Hong Kong, brand storytelling has made eCommerce highly successful. This is by creating short clips about a brand, product, or service.

Reference: https://www.oberlo.com/blog/what-is-ecommerce

Digital Marketing, Social Media Marketing, Video Marketing

The World’s Top Social Media Influencers (2021)

Top Social Media Influencers

Today, more than half of the world’s population use social media. With around 4.66 billion social media users, influencer marketing among social media platforms is forecasted to be a $15 billion industry by 2022. Around 90% of brands and businesses believe that influencer marketing is very effective. There are 56% of them partnering with the same influencers across different campaigns. 

According to a digital marketing speaker Hong Kong, the top social media platform for influencer marketing is Instagram. TikTok recently bagged the second spot as a preferred influencer marketing platform, while YouTube garnered the third spot as video marketing continues to be the king of influencer content. Instagram Reels, Tiktok Clips, and YouTube Shorts are continuously booming among influencer content as a video marketing agency Hong Kong says. 

Yet, the biggest challenge with influencer marketing lies in finding the right partner. Most brands and businesses are having a hard time sealing a contract with their preferred influencers because of a limited budget and niche considerations. To help them find the right partner, here’s a view of some of the top social media influencers. 

WHAT IS INFLUENCER MARKETING?

A social media agency Hong Kong defines influencer marketing as the partnership of brands and businesses with social media influencers to increase brand awareness or conversions among a specific target audience. Marketers sponsor an influencer’s online content to endorse products and services. This is to influence the buying decision of target audiences and eventually drive conversions.

There are five categories of social media influencers based on their number of followers. These are the following:

  • Nano-influencers with 1000 to 10,000 followers. They are commonly bloggers, reality TV stars, social media sensations, or vloggers.
  • Micro-influencers with 10,000 to 50,000 followers. They comprise around 81% of the active Instagram influencers. They have a large community of followers commonly interested in a specific niche.
  • Mid-tier influencers with 50,000 to 500,000 followers. These types of influencers are commonly active advocates of political or social causes like journalists and photographers. They often have radical views, so brands and businesses should be very cautious in partnering with them. 
  • Macro-influencers with 500,000 to 1,000,000 followers. Commonly, macro-influencers are thought leaders who have top-level decisions among companies.
  • Mega-influencers with more than 1,000,000 followers. They are commonly seasoned athletes, models, movie stars, and musicians.

If brands and businesses were able to find the right influencer, they can make more than 5x of what they spend on influencer marketing.

THE WORLD’S TOP SOCIAL MEDIA INFLUENCERS

Here are the world’s top 50 influencers across social media platforms:

  1. Cristiano Ronaldo, a soccer superstar with 517 million followers
  2. Justin Bieber, a Canadian singer with 455 million followers
  3. Ariana Grande, an American actress, and singer with 429 million followers
  4. Selena Gomez, another American actress, and singer with 425 million followers
  5. Taylor Swift, an American singer, and songwriter with 361 million followers
  6. Dwayne Johnson, the American actor popularly known as “The Rock” with 342 million followers
  7. Katy Perry, another American singer, and songwriter with 338 million followers
  8. Kylie Jenner, an American media personality and socialite with 333 million followers
  9. Rihanna, a Barbadian singer for pop and rhythm n’ blue music with 332 million followers
  10. Kim Kardashian, an American model, and socialite with 319 million followers
  11. Lionel Messi, an Argentinian football player with 298 million followers
  12. Neymar Da Silva Santos Jr., a famous Brazilian footballer with 283 million followers
  13. Shakira, a Colombian singer, and songwriter with 282 million followers
  14. Jennifer Lopez, an American actress, dancer, and singer with 277 million followers
  15. Beyonce, an American actress, and singer with 267 million followers
  16. Ellen DeGeneres, a famous American comedian and TV host with 260 million followers
  17. Miley Cyrus, an American actress, and singer with 235 million followers
  18. Nicki Minaj, a Trinidad-born rapper and singer with 232 million followers
  19. Barack Obama, America’s 44th President with 221 million followers
  20. Will Smith, an American actor and film producer with 217 million followers
  21. Kendall Jenner, an American model, and socialite with 212 million followers
  22. Demi Lovato, an American singer, and songwriter with 211 million followers
  23. Lady Gaga, an American rock singer and songwriter with 210 million followers
  24. Kevin Hart, a black American actor and stand-up comedian with 201 million followers
  25. Virat Kohli, the captain of India’s National Cricket Team with 195 million followers
  26. Eminem, an American rapper with 194 million followers
  27. Drake, a Canadian rapper with 192 million followers
  28. Khloe Kardashian, an American model, and socialite with 191 million followers
  29. Bruno Mars, an American pop-music singer with 191 million followers
  30. Chris Brown, an American rapper and singer with 180 million followers
  31. Vin Diesel, the famous lead actor of “The Fast and the Furious” with 177 million followers
  32. Narendra Modi, the 1st Prime Minister of Independent India with 175 million followers
  33. Justin Timberlake, an American actor, and singer with 175 million followers
  34. Billie Eilish, an American singer, and songwriter with 171 million followers
  35. Charlie D’Amelio, an American dancer with 169 million followers
  36. Kourtney Kardashian, an American media personality with 165 million followers
  37. Cardi B, a rapper for New York with 160 million followers
  38. LeBron James, a famous American basketball player with 157 million followers
  39. Adele, an English singer, and songwriter with 156 million followers
  40. Priyanka Chopra, an Indian actress, and singer with 144 million followers
  41. German Garmendia, a Chilean YouTuber with 143 million followers
  42. Wiz Khalifa, an American rapper with 142 million followers
  43. PewDiePie, a Swedish comedian and YouTuber with 141 million followers
  44. Akshay Kumar, an Indian actor in Canada with 140 million followers
  45. Snoop Dog, a Californian rapper with 138 million followers
  46. Deepika Padukone, a famous Indian actress with 138 million followers
  47. Britney Spears, an American pop star with 137 million followers
  48. Shawn Mendes, a Canadian singer, and songwriter with 136 million followers
  49. Whindersson Nunes Batista, a Brazilian comedian, and YouTuber with 135 million followers
  50. Salman Khan, a famous Indian actor with 134 million followers

Reference: https://www.visualcapitalist.com/worlds-top-50-influencers-across-social-media-platforms/