Bricks and Mortar stores are so passé. Well not really, but what we are seeing especially in this new normal is that every business needs to be selling products and services online.
There are millions of people searching the internet every minute of every day, looking for your products and services. We live in an immediate world where people want their purchases as soon as possible, a world that never closes and never sleeps.
So what are the key things that e-commerce can do for your business?
1) DRAMATICALLY LOWER YOUR RUNNING AND INVENTORY COSTS
The cost of actually setting up an online store is so much lower than that of setting up a physical store. The whole sales process for your business is automated online. You will save on staff, wages, and other business expenses, like electricity, rent, etc. In fact you can be selling online with as little as $1500. The money that you have saved can then be used to market and grow your website and product range further.
2) THE BUSINESS CAN BE OPERATED FROM ANYWHERE
You can be a global player. Really! Being online removes any geographical restrictions you would normally face with a bricks and mortar business. You can be sitting anywhere around the globe and still manage your business. All you really need is a laptop, phone and a great marketing agency…like us for example!
3) GROW GROW GROW
A great advantage of having an online store is to be able to find out which products are selling well, so that you can increase their stock levels. In addition, you can diversify these products and sell a wider range of products. You will be able to increase your sales, customer base and profits. For example. like Amazon you can also grow successfully by scaling up your product range, and by monitoring closely what your customers want, which will allow you to dramatically broaden the range of products that you offer. All with very little expense and inventory costs. Try that with a normal store!
4) OPEN 24/7, 365 DAYS
Your potential customers can see your ecommerce website at any time of day, which means you maximise your profit margin and sales. Imagine having a store that trades all the time, anywhere in the world while you’re sleeping.
5) EASIER TO MEASURE SUCCESS
You may be wondering, how will I measure its success? Ecommerce websites are in fact highly measurable and trackable through systems like Google Analytics. On your website, you can see detailed statistics about how many orders are processed, how many carts you have received, your cart abandonment rate, and how much revenue your website has earned. Moreover, e-commerce advertising is cheaper than most other forms of advertising. A search engine optimisation strategy would help your website rank higher in search engine results. You would invest a regular amount each month into SEO as it’s a powerful tool to encourage further visitors to your website.
6) LESS TIME INTENSIVE
After you have set up your ecommerce website, you shouldn’t have to spend a great deal of time keeping it. Since the whole ordering and paying process will take place online, the whole process will be fully automated. With more time to develop new products to sell, special offers to launch, and to track success of sales, you can develop new products and create special offers that are appropriate for your business. It will also allow you to determine any trends in terms of which products are the most popular.
7) HIGHER MARGINS & BETTER CASHFLOW
You may want to consider a drop shipping model. This means that you don’t carry any inventory or require any warehousing. You simply sell products that are shipped directly from the manufacturer. You can even organise to have the items white labelled using your brand. This takes away the huge expense and risk of leases, minimum order quantities and being left with unsold stock. You simply pay for what you sell. Easy. As you don’t require a premises or staff to do the work, your profits will grow and overheads shrink.
8) HUSTLE ON THE SIDE
The great thing about online stores is the very cheap entry point. Even if you don’t have an existing business but have a passion for something, you can easily set up your store while you have a job or other commitment. the fact that it doesn’t require you to be anywhere at any time when you choose to work on your store is up to you.
9) SOCIAL MEDIA MARKETING
The fact is that social media has changed everything. Small business and start ups now have access to cheap and effective marketing tools. You can use Facebook, Twitter, Youtube, Instagram and others to keep your potential customers informed of what you are doing, get feedback and also run targeted ads on the cheap that can yield some very good results. The best thing is that all the content is shareable.
10) COMPLIMENT YOUR TRADITIONAL STORE
If you have a physical business trading online will allow you to compliment your offering. You can expand your market share and customer base and offer new and exciting initiatives to your existing physical customers, for example, online sale events, discounts etc.
People are no longer afraid to buy online, with the pandemic forcing many to buying everything over the Internet. Taking your business online has huge advantages. Whether you’re selling products for delivery or services, and online store will help you make more sales instantly to more people in more places.
PRO TIP: Brand and first impressions are everything so have your store built and marketed by professionals. You don’t need to spend a great deal to get good results. We are happy to chat to you about your individual situation.
So there you have it, 10 reasons why you need to be online. Start today!