Have you ever thought about starting an e-commerce website or software to help promote your business sales? If no, you might want to consider it now and if yes, here are a few advantages and tips that will help your business grow. The e-commerce industry is expected to grow to $4 trillion by 2020. Therefore, it is just the right time to dive in.
What is in there for a company in e-commerce?
Here are a few great reasons to start your own online store.
- Low Startup Cost
Starting an e-commerce store is way cheaper than a physical store. There are tedious logistics involved in opening a physical store like store design, inventory, sales equipment, staff and more. However, starting an e-commerce store costs substantially less and needs fewer employees to maintain it.
- Always Open for Business
One major advantage of e-commerce is that it is open for business 24 hours a day. The added advantage of online ads that redirect customers to your online store can help you make sales at 12 midnight or 4 am alike. People with odd work schedules can benefit the most from it because they can’t visit physical stores otherwise.
- Global Customers
Further, e-commerce helps you to extend your business globally and with no or negligible added cost, you can sell your services or products to customers from other countries. There are many shipping services available that collaborate with online stores at a minimal cost.
- Better and Personalized Shopping
E-commerce allows you to provide a better and personalized shopping experience to your customers. You can send personalized emails with offers or more information about the product your prospect is interested in. This increases the chances of their conversion.
- Few and Affordable Employees
Unlike the physical store where you have to have the staff to run the store and deal with the customers, here you need to hire fewer employees who will run your website and process orders from their computer. You can hire the employees to work from their homes too.
- Access to Customer Data
Since the customers have to add their basic information on e-commerce websites, you will have access to a huge amount of consumer data which can be used to communicate with them and build better relations. This helps you serve them better and they tend to trust you more.
- Can Process More Number of Orders
In a physical store, customers might have to wait in a line to get their order processed but e-commerce allows you to process a high number of orders with utmost ease and at the same time.
Most importantly, e-commerce is scalable according to your budget and requirements. You can start small and can, later on, increase the number of products when your business starts to perform well. You can increase your ads when needed or get more promotional content.
Tips to Promote your E-Commerce Website or Software
- Location-based Optimization
Optimize your website to target the location where your primary audience is. It has been found that websites that focus on the local market achieve better results with local buyers.
- Make Use of Conversion Boosters
Price, discount, speed, and cost of shipping are some conversion boosters that you can use to convert the prospects into customers. Some successful e-commerce stores offer coupons, clearance sales, or better shipping speed to gain more customers.
- Toll-Free Number
Customers want to have a way to contact the store when they have some complaint or want themselves heard. Therefore, it is always good to provide them with a toll-free number which your customer representatives answer and listen to what they have to say.
- Produce Value-Added Content Consistently
Lastly, share valuable content across all social media consistently. Give your customers something to think about and give to them solutions to their problems. This increases their chances of buying from you.
E-commerce is here to stay and will expand massively in the coming years. It is for the businesses to decide whether or not they want to make the profit out of this growing industry. If you have any doubts related to e-commerce, get in touch with us at MarkSpace Media.