The five advantages of eCommerce
The internet has put convenience at the heart of modern commerce. Of course, we don’t need to sell you on the benefits of eCommerce, but some of your clients may need convincing to take the plunge into this hugely competitive and fast-moving world. They don’t have to be left behind; here’s five ways your clients can get ahead and ‘win’ at eCommerce.
1. Acknowledge that online is the future
Even though ‘cash on counter’ sales will never go out of fashion, businesses have to adapt and cash in from the bigger online trend of consumer spending as a sign of rapidly changing times. Online is a thing of the future and it’s here to stay, so it’s important for businesses to get with the program and adapt their strategies to suit the changing needs of consumers.
2. Turn a local market into a global one
The sky is the limit for an ambitious business. You have unlimited virtual access to a global market of clicks, more than any traditional method of marketing. Online trading can expand a brand’s horizons into new competitive markets on an international scale.
3. Save money on investment but boost your ROI
How does that work? Well, online marketing requires considerably less investment than the cost of bus and magazine adverts (social media is free), and the cost per transaction from eCommerce is far cheaper with fewer resources, compared with traditional sales transactions and the associated overheads. This means businesses can save more money whilst increasing their profit margin, enabling sales growth.
4. Build a customised service and get to know your customers
Today’s savvy shoppers know what they want, and will waste no time getting it. Unlike conventional selling that targets everybody at large, eCommerce enables businesses to personally customise their products and services to the individual needs of their customers.
Whether it’s online shopping or online dating, brands have the opportunity to meet those exact needs and build a closer business-to-consumer relationship.
5. Reiterate and reinvent
Now more than ever, we’re seeing the need for businesses to find ever more inventive ways to catch the eyes of consumers because they’re spoiled for choice.
Technological change, and growing demand for online services, offer unlimited opportunities for companies to create, iterate and reinvent their business model, flexible to the changing external environment. The difference for a business is life or death; the recent fall of BHS was attributed, in part, to the retail giant remaining firmly behind the times when it came to their online offer.
The ability to scale a business up or down can encourage brands to take control of the competition, and tailor their online marketing strategy to increase sales revenue on a wider scale.