Why Every Business Should Consider Ecommerce
Ecommerce has been one of the most talked about sectors in the new age. While the majority of the internet blog space has been occupied by the giants, the likes of Amazon and Alibaba – it’s really the smaller (comparatively) businesses that stand to gain the most. Independent merchants looking to go online have two options at their behest – become a seller on one of the platforms (like Amazon) or set up their own ecommerce store.
Joining hands with a platform like Amazon has a lot of benefits and makes the whole process rather easy. They even take care of shipping and returns, allowing you to solely focus on production and handling operations. But if you’re looking to build your own brand and be in complete control of every aspect of your business, you’re better off setting up your own ecommerce store.
Businesses that have been flirting with the idea of ecommerce for sometime now should consider getting serious about it. The advantages of having your own ecommerce far outweigh the amount of time, effort and money you’d spend on setting it up. Here are some of the reasons why every retail business should consider an ecommerce store:
commerce Helps You Go From a Local to a Global Seller
As a brick and mortar store, your customer base is usually confined to the people living within a certain distance from you. Going online opens up a whole new customer base – anyone, anywhere in the world, interested in what you’re selling can purchase your product. The right marketing strategies coupled with a kickass customer service can rapidly grow your business. You need to have the basics in place, however, before you can capitalize on internet marketing and win.
The basics of setting up an ecommerce store include:
Recognizable Brand – Invest in creating a brand that people will be able to recognize instantly. So many businesses undermine the power of brand, only to realize later on when it’s too late. A brand gives your business it’s own personality – and your businesses’ personality dictates how users interact with your business.
Solid ecommerce platform – Because of the ecommerce boom – a lot of out of box solutions have come into being. They allow you to set up a store within minutes, with minimum investments. While these options are quite good for newer businesses looking experiment, established businesses should always look towards a customized solution. Building your own ecommerce store from scratch gives you the power of flexibility. As a business looking to be a global force – you need to have complete control over what your site looks like and how it works.
Ecommerce Reduces Your Business Overheads
The biggest advantage of selling your products via an online store is that you save costs on renting, managing and running a physical store. You don’t to pay exorbitant rents, no store managers or even physically keep a stock. All you need a storage space where you keep your inventory, a few people to help manage and a solid ecommerce store.
Expanding your service into a new geographical area doesn’t require much as well – all you need is a delivery partner who services that area. And ofcourse, the business operations to handle the growth. The reduced overheads mean that you can effectively sell for a lot cheaper than the physical stores. Coupons and discounts are an instant advantage. You can invest the difference in marketing that’ll have a bigger, more direct impact on your business.
Ecommerce Has Leveled the Playing Field
One of the biggest differentiating factors between you and your competitors can be the uniqueness of your product. If your business targets a niche that’s not very competitive, you’ll have an easy time promoting your business on the internet. Again, leveraging internet marketing channels will help you be found by your global target audience.
If you’re competing in a very populated segment, your customer service and the product quality could be the differentiating factor. No matter how you plan to position your business, competing for views on the internet is a lot easier than using traditional media sources. Old school advertising practices and channels are way too costly. Business with the deepest pocket would almost always win when playing on traditional media channels.
Internet has proven to be a great leveler. Anyone using the right SEO practices with a high value proposition can get found by their target audience. Forums and review platforms have allowed customers to review and rate businesses. Because the transparency is rather high, businesses strive to compete on quality rather than the amount of money that have.
Ecommerce Helps You Be Where Your Customers Are
The world is moving towards digital. There are more mobile phones in the world than people. The rate at which people are adopting technology is far higher than ever before. In such a scenario, it only makes sense to be present where the majority of your customer base is. Think of it as opening a store in a mall versus opening it on a lonely street. Malls attract people in huge numbers – being present there will get you a lot more walkins.
A study by UPS in 2015 revealed that a staggering 93% people prefer local businesses that have an online store. It gives them the convenience of online shopping with a promise of better service and unique products.
Getting an online store for your business could very well be the difference between a double digit growth versus a slow 5% growth. If you’re still not convinced – research more or drop us a message. With the way things are moving, the future of shopping could be very different from what it is currently. You wouldn’t want to miss out this this opportunity!