What Are The 4 Myths Of E-Commerce Business Updated for 2024

What Are The 4 Myths Of E-Commerce Business by Tony de Bree

Updated: May 25, 2024

Hi, how are you today?

E-commerce business has gained immense popularity since the beginning of the Covid-19 pandemic and there is a lot of knowledge about the industry. New surveys are being conducted on a daily basis with new theories being used.

Many small business owners often fail on a daily basis because they listen to the myths floating around about the e-commerce industry. Don’t let this happen to you. If you are to be successful, you need to know which “advice” is not worth following. What are some myths that can be dispelled right now?

  • You Just Need A Website

Too often, actually  already during the first .com bubble in 2001, business owners  believe that getting into the e-commerce business takes just getting an e-commerce website built or start one yourself. While you might need an e-commerce website, it’s not all there is to it! You have to do more. If you’re going to be successful, you need to do much, much more.

For example, you need to do research on your nichmarket. You have to learn what the market trends are of people that you can serve best. And implement them into a well-thought-out niche marketing campaign. Learn what the possible risks lie with the company and make a plan to address the issues. You also need to learn about your customers and what they’re looking for, even better, what they really need! How will you address their questions or concerns?

While a website strategy is good, it’s not the end at all, be all of an e-commerce business. A website is a tool, nothing more and nothing less.

  • Customers Love Low Prices

Believe it or not, this is a myth, but it’s one many e-commerce companies believe. While it’s true many customers love low price; if you fail to address other factors, they may choose a competitor with a higher price. What customers are really after is the brand’s reputation, high-quality customer support, a great shopping experience and getting the most bang for their buck. Therefore, if you offer lower prices with none of the other aspects, your customers are unlikely to stay customers.

More: How To Keep You Business Relevant During Covid-19? & 5 Benefits of A Digital Products Business 

  • Web Traffic Is Automatic

Many people do not understand how to generate traffic to their website. In fact, some feel that coming up with lots of products for a well-designed website it all they need. However, how is anyone going to find all the stuff you have to offer on this nice website if you fail to take the necessary steps to bring them there? And much more important: why should they buy from you?

You need to advertise your e-commerce business and promote it. Remember, you have a lot of competition if you sell products that evybody is selling, which means you need to stand out among the crowd if you’re going to be successful.

I advice you to make sure yoy make a different in the lives of specific customers and really try to help them, instead of building a ‘me-too’ e-commerce business.

  • It’s Easy To Make Money Via E-Commerce

You can easily make money selling products through a website… at least that’s what you’ve heard and been told. However, just creating a website and putting up products to sell isn’t going to make the easy money you think. To make money, you have to spend your time coming up with strategies that will earn you the profit you want.

There is no immediate success in the e-commerce industry. You have to work to earn it!

Keep in mind that you don’t need to figure everything out on your own. There’s help available. Anyway, you really have to make sure you take the right decision with the help from the right people. People you can trust.

Keep in mind that you don’t need to figure everything out on your own. There’s help available. Anyway, you really have to make sure you take the right decision with the help from the right people. People you can trust.

If I can help in any way, please do not hesitate to call me on Skype on tony.de.bree or email me here.

Kind regards,
Tony de Bree

You can also follow me on LinkedIn or on Instagram here.

About the Author: tonydebree

Tony de Bree worked in Financial Services including in corporate venturing and e-commerce for 26 years and he made the transition from banker to entrepreneur working from home and making money online with his own "online plan b" with digital products as side-hustles in 2000 and as hybrid business owner since 2011. Since the beginning of the Covid-19 pandemic, he helps corporates, small business owners, startups & scaleups to define and implement the best digital survival strategy and he helps managers and employees to become a successful entrepreneur with a personal digital-right skilling plan.

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