Connective Ecommerce: Entrepreneurs venturing into the realm of online retail are increasingly encountering the buzz around “connective e-commerce.” Coined by the innovative mind of Cortney Fletcher, this strategy proposes boosting sales without the hefty upfront expenses typically associated with website development, inventory storage, or advertising costs.
While Fletcher advocates this approach, experts and online communities remain divided on its efficacy. Damon Didier, CEO of Win At Ecommerce, a Dallas-based consulting firm, cautions against perceiving e-commerce as a walk in the park, emphasizing that there’s no magic button for success.
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Didier contends that the connective e-commerce premise, suggesting a quick and effortless initiation and growth of online businesses with minimal upfront investment, is inherently flawed. Especially with the surge in individuals seeking additional income streams amid the pandemic, many aspiring entrepreneurs lack a comprehensive understanding of the intricacies involved, making them susceptible to quick fixes that might not yield fruitful results.
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Instead of outsourcing “connective e-commerce” development, Didier recommends adopting its principles to mitigate costs and risks when starting your online store.
Creating a website demands a modest monthly investment of approximately $20 for hosting. Utilizing user-friendly platforms like Wix or Shopify allows you to design a professional-looking website without the need for a designer. However, the real challenge lies in attracting visitors to your site and building trust.
Didier stresses the importance of organic growth, especially since paid ads can be expensive and don’t guarantee instant success. Leveraging existing followings on platforms like YouTube or Instagram, particularly the latter, which seamlessly integrates with Shopify, facilitates directing potential buyers to your website. Trust is key, and cultivating relationships with your audience on social media platforms can significantly contribute to your success.
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One of the primary hurdles in online retail is managing inventory costs. Connective e-commerce introduces the concept of drop shipping, allowing sellers to gauge consumer interest without committing to extensive inventory.
Drop shipping is a valuable method to test product viability before investing in bulk inventory. Although it involves lower risk, profit margins can be slim as products are purchased individually from third parties. Didier recommends it as a preliminary step to validate ideas. If your product gains traction, transitioning to holding inventory becomes the next logical step.
Owning inventory allows for higher profit margins through bulk purchasing. Didier illustrates this with an example: selling $15 custom T-shirts. While drop shipping may yield a $5 profit per shirt, purchasing 100 shirts at $5 each results in a $10 profit per unit. Reinvesting these profits into paid advertising facilitates customer acquisition.
In conclusion, the connective e-commerce journey involves understanding the fundamentals of sales and embracing a gradual approach. Building a simple website and experimenting with drop shipping empowers entrepreneurs to test concepts directly with consumers before committing substantial funds to inventory. Success in e-commerce lies not in rapid leaps but in strategic and informed progression.
