How many times a day do you use the internet to find different kinds of products you want to purchase? Don’t remember, do you?
Finding businesses and products on various search engines comes like second nature to human beings. Not to mention it’s a very beneficial portal for quick and useful solutions. But have you given a thought to the need for e-commerce?
Did you know?
About 64% of small businesses have a website. That’s your cue to join the game!
E-commerce is essential because, from the consumer’s point of view, it provides a wide range of options. Everything has become online these days, and as a business, you will find it difficult to reach a wider audience base without being online.
So let’s dive into understanding how could going digital benefit businesses, especially yours!
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The 10 advantages of e-business
As mentioned earlier, to gain a faster and more vast audience, going online is the best option. You need to understand the countless benefits of online business, especially now that we are moving into a more digitalized world.
1. Round-the-clock business availability
Your e-store, unlike your physical store, can efficiently operate 24×7. Customers can make purchases anytime and anywhere, which will make your facilities more appealing.
2. Lower set-up cost
Setting up an online business is very simple and doesn’t require substantial investments in the early stages. All you need to figure out is what your consumers need, select a domain name and site location, and manage your business activities!
3. Increased brand visibility
By listing yourself in online business directories, and being active on social media channels, you can make your presence known to the customers. Furthermore, you can use different marketing strategies, like email marketing, social media marketing, etc. to reach more consumers.
4. Quick transactions
A customer usually visits a physical store with a pre-decided to-buy list. However, with online stores, people don’t need a specific location or pre-decided list to make purchases. Looking for quick transactions? Display routine promotional offers and related items to the consumers, and see a boost in your sales!
5. Detailed product descriptions
Consumers generally prefer to look at a detailed overview of items before making purchases. They like to know the characteristics and utility of the product. Using FAQs and product catalogs will increase your consumer purchases.
6. Cheaper marketing tools
You need to market your business and put yourself out there, right? You can hire field experts who can use the best SEO, SEM, and other digital marketing solutions. This is way cheaper than going after outbound marketing techniques. Outbound marketing techniques include print advertisements, billboards, TV ads, etc. while Inbound marketing techniques include SEO, blogs, social media campaigns, etc.
7. Higher scalability
Higher physical store visits usually dampen customer experience due to cramped space and insufficient staff. However, expanding business via an online store is much easier. Prepare additional inventory, storage space, and some changes on your website and you’re good to go!
8. Customer feedback
As a business, you need to know what customers think about your product. With better feedback options, like reviews and ratings, you can effortlessly get customer feedback and showcase your customer satisfaction statistics to others. This will help you retain your customers by building trust and creating new leads for your sales!
9. Customer data insights
Consumer preferences are necessary to set up a successful business. With customer feedback, social media insights, and website insights, along with other informational data sources, you’ll be able to look into customer preferences more effectively and cater to consumer needs accordingly.
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10. Several payment modes
E-commerce platforms accept payment modes such as UPI, cash on delivery, EMIs on credit or debit, card on delivery, net banking, and pay later card facility. This means as a business, you will no longer lose a potential customer due to a lack of available payment methods.
As a consumer, it’s in-built in us to appreciate the significance of e-commerce. As a business, you should take into account the advantages of online business and reap its benefits.
E-commerce websites have an average conversion rate of 2.86% according to Zyro. Not to mention after the pandemic hit, many businesses shifted online, and buying online products has become the “new normal” for a lot of internet users. Setting up your business online will provide increased sales and benefits for you!
However, setting up a website and its management does require a proactive agent. E-commerce marketing companies are the best fit to provide you with digital solutions to take your business to the next step!