E-commerce is a rapidly growing industry. In traditional on-the-ground retail stores, business owners relied on good old-fashioned conversation or an impressive looking display to get the ball rolling with potential customers. E-commerce stores come as a complete game changer, as they allow marketers to interact with and monitor audiences like never before. In this article, we’ll explore how e-commerce helps businesses by looking at some of the inherent benefits that come with it.
Low Initial Investment Cost Starting an e-commerce business is so easy and affordable, practically anyone with a computer or smartphone could do it. There are thousands of reasonably priced platforms available for even the most amateur of business owners. These platforms are scalable, and offer tools to help you manage payment strategy, optimize billing, manage taxes on a global scale, avoid fraud, and manage personal data. Many platforms also allow for a variety of marketing solutions, including email automation, mobile marketing, audience targeting, and website personalization.
Sell Anytime, Anywhere, to Anyone The beauty of an e-commerce site is that it is open 24/7 to customers across the globe. Traditional on-the-ground stores were limiting, as they could not cater to the varying schedules of customers (not all people work on a 9 to 5 schedule). Providing services at all times of day and night allows access to customers all over the world. It helps build the brand much quicker, and sees a faster profit from both local and international customers.
Get Easy Access to Customer Data A natural part of any e-commerce check-out process is collecting customers’ personal information. Unlike traditional stores, where a person can purchase a product with the tap of a credit card, e-commerce stores require customers to input information like name, email address, company, and occupation. This information can then be used in future marketing efforts. Once you have a customer’s contact information, you can start to build that relationship by sending newsletters, articles, surveys, and other marketing material to encourage engagement.
Save Costs on Hiring In-House Staff When it comes to running a team, an e-commerce store cuts costs right off the bat. You are no longer required to pay employees for in-house, 9 to 5 work weeks. Employees can work in shorter shifts, and you can hire people from anywhere across the globe. Integrating a feature like a chatbot to replace a live agent can significantly help lower management costs.
Get More Traffic with Content E-commerce blogging is a surefire way to bring new customers to a site. The best part? It’s completely free. By blogging about topics that are relevant to your product or service, it helps bring in new traffic, build trust with existing customers, and position the company as a leader in the field. Let’s say you’re a company specializing in rock climbing shoes – you might write a blog about the best climbing cliffs in the area, or invite a well-known climber to write a guest post. Don’t forget, there are other types of content – like pricing descriptions, inventory availability, product comparisons, and product descriptions—that help inform customers and provide a better user experience.
Collect Data for Market Research Operating an e-commerce store makes it incredibly easy to collect data about customers. Often, analytics tools are built right into the software used to run an e-commerce store, and analyze things like purchasing patterns, bounce rate, click-through rate, site speed, and more. With this feedback loop, you can continue to innovate the customer experience with constant improvements and testing. E-commerce is a no-brainer for any company looking for success in today’s day and age. We recommend learning as much as you can about operating an e-commerce store before diving in. There’s a lot to learn, but the benefits are myriad. At the end of the day, e-commerce helps