E-commerce is an important way to distinguish your business from the rest in your niche. Even if your offerings are superior to the competition’s, you will be at a major competitive disadvantage if you do not delve into the e-commerce realm. This is not to say you need to establish a website that rivals Amazon.com; rather, setting up a simple e-shop or agreeing to sell your products through an already established online e-tailer will provide another important revenue stream.
Expand Your Customer Base With E-commerce
The cardinal sin of business is leaving money on the table. There are likely hundreds if not thousands or even tens of thousands of people willing to buy your products. However, you will not be able to sell your offerings to these interested buyers unless you set up an e-shop. Establish an online store, spend for search engine optimization (SEO) to help interested buyers find your offerings and you will make it easy for people to send their money to you in mere seconds, regardless of whether they are located near your store or across the globe.
A Transition to E-commerce has the Potential to Reduce Expenses
Some traditional brick-and-mortar businesses find the shift to the digital realm is much more profitable than a traditional storefront. Take a moment to think about your business’s overhead costs. You likely pay rent for your store, employee wages, insurance, utilities and more. Set up an online store and you might be able to make more money online than in your brick-and-mortar store. This is not to say you should close your store; rather, you might determine it is no longer prudent to open additional locations when the bulk of your sales are online. Opening such stores is egregiously expensive. Launching an online store is comparably cheap.
E-commerce Legitimizes Your Business
Nowadays, businesses that restrict their sales to traditional stores are considered dinosaurs. Though some baby boomers and senior citizens refuse to shop outside of traditional stores, the coveted millennial demographic prefers online shopping. Step into the 21st century by launching an online store and your business really will appear that much more legitimate, especially to the young crowd that will have disposable income to spend on your offerings for decades to come. Ally with the right ecommerce developer and this group will design your website appropriately. The best online stores provide social sharing options to encourage online customers to spread the word about the business throughout their web-based social networks.
E-commerce Sales are Quick and Easy
The days of getting in the car and driving to one local business after another are gradually fading away in favor of online shopping. It simply takes too much time to drive to stores, find the desired items, complete the checkout process and drive back home. E-commerce sales are comparably efficient. It merely takes a few clicks of the mouse to find something in an e-shop and complete the online checkout. Provide your customers with the traditional shopping option as well as online shopping and they will purchase your products one way or another.
Start Working on Your E-shop Today
Though no business owner wants to learn their company is losing customers to the competition due to the lack of an e-commerce presence, it is the truth. Your business has gone long enough without this important sales channel. The clock is ticking. Start working on your company’s venture into the e-commerce realm today or you will provide your competition with a golden opportunity to dominate the online space and capture the bulk of the market share.
About the Author:
Marla DiCarlo is an accomplished business consultant with more than 28 years of professional accounting experience. As co-owner and CEO of Raincatcher, she helps business owners learn how to sell a business so they can get paid the maximum value for their company.