The first installment in our series on eCommerce described what eCommerce is, its various types, and some of the main options and results you can expect from it.
In short, eCommerce allows companies and their customers to make transactions over the Internet. Since eCommerce first began in the mid-90s as a bit of a novelty, it has evolved into an incredibly important part of society. Every day, millions of people across the globe engage in eCommerce for goods and services. eCommerce can be conducted from business-to-consumer (B2C) or business-to-business (B2B), and there is a wide variety of eCommerce solutions available, including: SuiteCommerce, Magento, and Shopify.
Now that you know what eCommerce is, you’re probably wondering why your company should adopt an eCommerce platform. There are numerous reasons why you should do this, but these are our 5 favorite reasons to get started.
1. Save Time and Money
This is easily the biggest benefit of converting to eCommerce. By conducting your sales online, you will no longer need to have a physical storefront or a large employee base, which will lower your fixed costs. Since everything is automated, the transaction process will go significantly faster than it would in a physical setting.
Furthermore, marketing an eCommerce store is far more cost-effective than offline promotions. You can use platforms like Google Ads, Facebook, and other social media networks to bring customers directly to your store. You can then pass your savings onto your customers by offering lower prices than the competition.
2. Stay Open, Always
With eCommerce, your store never closes. As a result, you can interact with your customers on a 24/7/365 basis. Even if your customer support team is off the clock, your eCommerce solution is automated, meaning you can conduct sales any day, any time.
3. Expand Your Brand and Find New Customers
Before the Internet, the vast majority of storefronts were limited by their physical location. If you wanted to increase your potential customer base, you’d have to open more stores (and face more managerial headaches!). With an online storefront, geographical boundaries are a thing of the past. Now, you can sell your goods and services to people across the world and you can enhance the image of your company by painting a much bigger picture of your brand.
Also, having a digital storefront will expose you to niche audiences who you probably would not have access to otherwise. You can bring this new audience to your store through an array of online touchpoints, including: search engines, social media networks, and online forums.
4. Maximize Scalability
Similar to #3, scaling a storefront in the pre-Internet age was a lofty ambition. You’d need to acquire more floorspace, hire additional staff, and re-configure your inventory and shelf space—all of which required significant time, money, and effort!
Growing an online store, on the other hand, is a piece of cake. Just make a few changes to your website, perhaps increase how much inventory you have on hand, and add some more storage space if needed. While doing each of these requires time and money, it’s nothing compared to what’s needed for a physical storefront.
5. Provide Better Customer Insight
When customers make a digital purchase in your store, they provide you with invaluable information. In addition to their basic information, you will also learn about their consumption behavior and demographic data if you use Google Analytics or similar services. This will let you understand exactly who your customers are, meaning you can target new customers with pinpoint accuracy.
You can also use customer data to retarget audiences. With data insights, you can email a potential customer who may have abandoned their cart and offer them an exclusive discount to motivate them to complete their purchase. Additionally, you can re-engage with past customers, telling them about new products you think they’d be interested in.
These are just a few of the many benefits enjoyed by eCommerce organizations. Of course, you cannot experience the benefits without starting the journey. CTR can assist you in beginning the process. If you already have an eCommerce site, but need enhancements or improvements, we can help you there too.
At CTR, we can make your eCommerce dreams a reality. If you’re ready, we invite you to learn more by contacting us at email@example.com