Developing an eCommerce strategy is a crucial piece for many organizations. A huge component of this is identifying your target market and understanding what your eCommerce business model will be. Here at Elastic Path we have experts with more than twenty years of experience in the four main business models outlined below.
Not taking the time to evaluate your business model and understand your target market can be extremely detrimental to your business and lead to thousands in wasted spend. Digital advertising, SEO, content marketing and more are effective ways to drive traffic and revenue and bring a large ROI but won't be nearly as effective without a thorough evaluation of your eCommerce business needs.
At Elastic Path we work tirelessly to help you identify the right eCommerce solution but that begins with properly evaluating and identifying your business model. Let's take a deeper look into the four major business models and the important differences and nuances that come with each.
The four eCommerce business models:
- Business to Business (B2B)
- Business to Consumer (B2C)
- Business to Government (B2G)
- Business to Business to Consumer (B2B2C).