From 1999-2020 , last two decades online business have grown online and various industries have been disrupted.
Individuals & business are finding freedom online while working remotely, The new age marketplaces have come up & are evolving. Different type of website are coming & changing the way business are conducted.
Major reasons a online business has been sucessfull is because it is less capital intensive & does not have geographical boundaries. Where as regular business has real estate, inventory & is location specific making it costly and capital intensive. There are lot of example of different website around us but still business find it confusing when it comes to choosing a particular type of website business model.
Last day while talking to a client in Miami, Florida we where discussing about websites & online business models that are popular online. It proved out to be informative discussion that finally i thought put it for a blog to share with the subscribers. Preliminary there are two different website. Each website has various way to monetize. Several online business use one to many way to monetize their online business.
When it comes to creating a website or designing a website , business find it challenging to focus on type of website they need for their project. Ideal way choose the best business model is look for various type of website, look for things what is working on their website & look for competiors website on how their website are working. Below are some example of website that have different types of business model & they leave lot to learn.
Information Website
Managing information online is big task . It attracts giants like Google , Microsoft are into it & include several business as well. Internet is super information highway & cataloging this information in various way is a big business. Lot of AI & ML investments has gone into arranging the information & providing relevant user experience based on the user requirement. Small business catalogs his business via website or blog, showcasing the world. Search giant like google catalogs the information of all kinds of website showcasing them as people look for it. They earn revenue from advertising as people make a search. Information based website normally earn from the advertising, affiliate promotions, leads generation. Here are few examples of website that they follow in this category
Bing is search engine from Microsoft. It is classic example of cataloging of the information. Its primary source of revenue is advertising. It crawls the web with help of bot & gets the information. Then this information is stored & indexed. Using its technology it retrives the information.
Makeyourwebsites is a business where using the information services are offered from the website. People share their basic contact information for a quote. Primary revenue is desirved from the Leads by selling.
Survival life is big media website, where by they attract particular audience that is interested. They earn from affiliate promotions, advertising. Here they do not have their own product.
Craigslist is classified website. The have user generated content model, where by user put the ads on the website. They earn from upsell to these customers or via advertising on their website.
Primary method of revenue in Information based website is advertising, upsell fees, affiliate promotions & leads.
Ecommerce Website
Second most online used business model is ecommerce website . This model is responsibile creating worlds richest companies like alixepress & amazon . Each one of them has multi billion dollar worth.
Here manufacturer either directly sell product on his website or marketplace platforms. The aggregator earns a transactional fees with the model.
This model works in various ways like product selling, discount selling , digital product selling, crowdfunding, SAAS & Subscriptions. Some model are resposibile for direct selling other are based on merchant bases, few others are community driven model. Below we discuss several ecommerce website & their different ways to generate business.
Etsy is marketplace where by different vendors list their products from world over. Etsy earn from the transaction that are carried out.
Upwork & Fiverr are prominent service provider portal. They catalog freelancers & agencies to provide their service from their platform.The charge a brokerage fees to earn their revenues.
Groupon is deal store. They find a deal from business & that deal is sold on their platform. They earn a fees from the store.
Themeforest is leading digital product seller . Different vendors from the world over list the products they charge a fracaction of fees on the same.
Kickstarter is where the innovators list their product they want to create. community funds the idea . Once the idea is created the product is delievered. Kickstarter earn revenue charge a fees over it.
It is an PET ecommerce website selling a pet related product on monthly subscription. Customer recieves a package monthly & is charged on recurring bases.
How are website designed & Important aspects of good website we will discuss in articles that are coming up.
If you need any help in deciding type of website, we recommend you check our one page worksheet, that can help you with your project.
We at makeyourWebsites helps business to create website , landing pages & data driven websites. To discuss your website design & development project with our team share more details about your project.