You should know that the world is going digital and that applies to physical shops, in the form of ECommerce. As with most technology, ECommerce has its doubters and naysayers. However, it is undeniable that ECommerce has become critical in today’s business.
If you are still unconvinced, here are some absolute truths on why you need to set-up an ECommerce store right now (if you haven’t):
Follow The Money $$$ & Numbers
It goes without saying that your business needs to be where your consumers are. Guess what? They are online.
ECommerce sales worldwide have reached USD $1.3 trillion in 2014 and is estimated to hit USD $4.5 trillion in the next 3 years. If you think this only applies to B2C businesses, think again. B2B ECommerce sales have surpassed their B2C counterparts by almost 234.78%.
ECommerce has become integral in almost every form of business to upscale their sales figures. An important side note: Ensure that your ECommerce store is mobile-responsive as well, given the increasing amount of time spent on mobile devices.
Improve Your Accessibility
Unlike a physical store, an ECommerce store doesn’t have opening hours. It’s 24/7.
Your business thus becomes available to busy bees, early morning risers, night-owls and across borders (depending on how far you ship to), opening up to more revenue. With dwindling numbers of individuals having the time to shop physically, an ECommerce store provides the convenience that a physical store can’t replicate.
Beyond your regular consumers, ECommerce opens up your business to reach a wider network of audiences and receive traffic from search engines.
Understand & Manage Your Consumers
It is essential to understand your revenue source: your consumers.
A helpful feature in ECommerce on that regard is the reviews section, which allows your consumers to post their comments on your products and services as feedback. Through feedbacks, you can improve your products and services.
By following up on constructive feedback, you’re able to manage consumers’ satisfaction levels and open your business up for referrals and subsequent sales.
Positive feedback from your consumers can also serve as a free marketing tool.
Data Is The New
ECommerce affords tracking and user data, which is an invaluable data mining tool. Through ECommerce, you are able to observe and understand trends and consumer behaviour, such as hot-seller products, hot periods etc.
Hence, you are able to tailor your marketing efforts based on these trends and capitalise on it to increase your sales.
Easy to Set-Up
How easy? Click here.
Lower Costs = More Profits
An ECommerce store doesn’t require a physical space, reduces employees required and overall maintenance costs. Thus, an online store is cheaper and simpler to manage and generates more profits.
In fact, there are various delivery and courier services available for ECommerce sites, to do away with end-to-end maintenance.
Streamline Your Digital Marketing
Beyond just consumer data, ECommerce facilitates digital marketing on a few levels.
Firstly, with a direct link to purchase instantly, there’s a clear link for your consumers to click and act upon. You can also automate and manage promotions with your marketing efforts, allowing consumers to access them without jumping through countless hoops.
Subsequently, any digital marketing campaigns run can also be tracked real-time.
Find yourself a digital marketing team with experience in ECommerce to run your campaigns for maximum effectiveness.
Influence Purchase Decisions
Even if you have a physical store, it’s not a reason to ignore ECommerce. Many consumers are starting to do online research before making a purchase physically. Your ECommerce store will act as a gallery for consumers to browse, thereby influencing their decision making.
The reviews of your ECommerce page will also come in handy, as positive reviews will further encourage purchase. Hopefully, you’re convinced of the importance and urgency of setting up an ECommerce store as soon as possible.
Of course, if you have queries, or would like to get started now, start a conversation with an ECommerce expert to begin your journey.