5 Ways an Entrepreneur Can Benefit from Ecommerce
commerce has always been the way of the future but it is no longer science fiction. In the modern era of technology where everything is going virtual, electronic commerce has become the demand of the present time. The new buzzword is on everyone’s lips and eCommerce affects us all, whether it’s a seller, consumers, marketers, or the business model itself. Selling, buying, and marketing online are much easier and most of the time cheaper than doing it offline. It’s never been easier to get into the eCommerce business. So, it’s no surprise that eCommerce is growing so fast. All you have to do is understand how it works. The COVID-19 pandemic has changed online shopping forever. More and more consumers are buying things on the Internet instead of going to a physical store. Unlike a physical store, an eCommerce store is open 24/7 which is beneficial for both consumers and sellers. Ecommerce has transformed the shopping and changed the way of doing business. There’s no doubting it – the opportunity to sell online and buy online has changed many people’s lives and will continue to do so.
Online retail is growing fast and the industry shows no signs of slowing down. People use the Internet more than ever before. They use their computers, smartphones, and tablets to purchase goods and services online. Jeff Bezos was one of the first businessmen to realize and understand the potential benefits of creating an online business. He founded Amazon and he is the biggest online retailer now. As you can see, eCommerce is a profitable business when done right. It is more convenient and less costly and it has become an inevitable trend.
But if you are still hesitating about whether to start an eCommerce business, here’s the list describing some of the most valued eCommerce benefits.
5 Ways an Entrepreneur Can Benefit from Ecommerce:
1. Lower startup costs
There’s a reason why eCommerce is such an attractive business model and it lies in the fact that you can start your business at a lower cost. It is really cheaper than opening and operating a physical store because it helps you avoid the costs of running a physical store, such as rent, inventory, warehouse costs, water, electricity, the expense of the brand itself, and various services. You can run a business on your own, which means you won’t need to hire employees and pay them a salary. It is usually the staff that handles inventory, delivery, payments, etc. With eCommerce, the whole operational process is automated, and when you see your business is expanding you will need an extra pair of hands.
To make your business work, you need to choose the right website builder for your online shops such as Shopify, BigCommerce, Squarespace, Wix, or WooCommerce. These are some of the most popular eCommerce platforms with Shopify being the leader. All necessary functions are already available there. These platforms are only a starting point and you might need some apps that are built specifically for these platforms such as Growave. Our app is an all-in-one marketing platform for Shopify stores, and it replaces 5-7 apps.
2. Your Online Shop is Open 24/7
More and more consumers tend to shop online late at night or early in the morning. The fact that most of the stores still close between 9 pm and 11 pm gives you a competitive edge as your store is open the whole day. Besides, there’s no such thing as holidays and you have no sick days. Since most processes are automated, you can keep selling while you are at home curled up on the couch with a glass of wine and a coffee-table book. How can you beat that? By selling more at any time of the day, you can significantly increase your customer base and revenue.
3. E-commerce Business Means More Customers
With eCommerce you can go global, selling products online from the comfort of your home. Location is easily one of the biggest disadvantages when operating a physical store. That’s why online selling makes a lot of sense. Anyone can purchase anything from anywhere at any time. There’s no geographical limitation which increases the number of potential customers. You can then convert them into paying customers. You don’t have to do business where you have set up your online store. Your business is powered by the internet and that means you can expand into foreign markets without spending too much money.
Make sure that your site is optimized for search engines. The right SEO tactics will make your site visible to many people. More eyes mean more traffic and that results in increased sales. What’s more, you can improve your brand awareness.
With an eCommerce website, you’ll be able to reach clients from all over the world, not just in your city or country. Not only does expanding your business horizons increase your income, but it also helps your business grow.
4. Marketing Campaigns are Affordable
Digital marketing is cheaper than traditional methods. Newspaper and magazine advertisements can cost thousands of dollars. TV ads are also expensive. With e-commerce, you don’t need to spend tons of money to promote your products and services. You can save a lot of money.
Online selling allows you to showcase your products in all their beauty. You can use photos, videos, GIFs, infographics, and reviews to attract domestic and international customers. You might also want to try email marketing. With the help of this marketing strategy, you can connect with your website visitors and customers on a more personal level and boost sales.
You can get the email addresses of your clientele. Using consumer browsing behavior, you will be able to send more targeted messages.
There is no shortage of social media platforms for you to promote your products and services and you may also consider content marketing. These strategies complement each other well and if you want to increase your site’s visibility and increase business leads make sure you use them.
5. A Great Customer Experience
Customers should always be your number one priority. You need to keep your clients happy and satisfied and they would keep coming back for more. Happy customers mean loyal customers. By delivering a positive customer experience you can earn more money. And with this business model, your customers can buy your products without leaving their homes. They don’t have to drive through traffic to get to your shop.
The convenience of searching, browsing, and shopping in a well-designed online store can justify the added cost of shipping especially if you personalize your website to match the buying preferences of every customer. You can change the design and ways of paying to make their experience unique and pleasant.
We live in a modern world where digital technologies have become a part of our everyday life. Consumers buy more online and that’s why it makes sense to sell on the Internet. Starting an e-commerce business requires less money and is a low-risk investment. Starting an online business isn’t easy but if you are ready to work hard you can generate more revenue. If you are still unsure about starting an online business we hope this article will convince you to create one.