As the business world starts the recovery process following the COVID-19 pandemic many businesses are exploring the online space. Whether you are selling products or services online, operating part or all or your business online or just launching your business, you may have considered deploying an e-commerce solution. In our 4-part E-commerce 101 series we will be breaking down all you need to know about e-commerce and help you determine how you can use it to grow your business.
In part one, we discussed what e-commerce entails and how it works. Catch up on part one, here. In part two we will discuss why every business needs and should invest in an e-commerce strategy.
If this pandemic has taught business owners anything, it would be that a brick-and-mortar business is not always the best model and should not be the only model to explore. While a brick-and-mortar model has many advantages, every competitive and progressive business now realizes that an e-commerce strategy is essential for business survival. With an effective e-commerce strategy, not only are you able to serve your local customer in more ways, but you are also able to tap into the global market.
Are you still considering if investing in developing and deploying an e-commerce business strategy is right for your business? Here are some of the most compelling reasons why every business, including yours, should invest in an e-commerce strategy.
An effective e-commerce strategy can help your business:
Expand into the global market
If you are planning to launch your business into the global market, e-commerce is your best bet. Unlike the brick-and-mortar setup bounded by a physical location, e-commerce gives your business the ability to move beyond physical boundaries, timezone restrictions and human availability to bring your products and services to more people, anytime, anywhere. E-commerce gives you the edge to reach customers worldwide and compete in the global market.
Stay competitive
Today’s businesses look and operate very different from businesses that existed even a decade ago. To keep the doors open, each business needs to learn how to adapt to the ever-changing needs of their customers while maintaining a competitive edge to keep its competitors at bay. E-commerce offers just that. With a variety of ways to creatively deploy e-commerce in your business, having an online system is always a good idea to take advantage of local and global clients to boost sales. Ask yourself, in today’s economy, why would you have a storefront and not a website? Keep in mind that an e-commerce website is cheaper, more efficient and presents a much lower risk to having a storefront.
More cost effective
Operating cost is probably every business owner’s biggest concern. How can I increase profits and lower my expenditure, you ask? E-commerce is one way to achieve that. Done right, deploying an effective e-commerce solution can reduce operating costs such as rent or lease, utilities and maintenance. Frankly, the only maintenance you will need for most e-commerce systems would be to service your website and payment portal.
Are you still on the fence when it comes to deploying an effective e-commerce solution for your business? Not only is an e-commerce solution a low-risk strategy, but it is also easy on the pockets and a great tool to earn greater revenue. If you have questions about how you can deploy e-commerce solutions for your business, get in touch with us.