Are you looking for an easy and proven way to boost the revenue of your business? Whatever industry you are in, if you do not leverage the power of e-commerce, then you are leaving a lot of money on the table.
The reality is, most of the world has already moved online. Consumers are no longer waiting to get home and to their office to do their research and do emails. Also, people’s noses are always on the screens.
If you are not convinced yet, reports show that the value for the global e-commerce sales this 2019 is projected to be around 3.45 trillion dollars.
So, how does this affect you? In this article, we will walk you through the top nine reasons an e-commerce site can boost your business’ revenue.
1. Convenient for Customers
These days, more and more people are tapping into the convenience of online shopping.
Rather than spending hours on shopping malls and physical stores, a lot of consumers are buying stuff on the internet during their breaks. Even more, when the weather is particularly bad, and it is quite challenging to get to shop downtown.
The presence of the online market has made it relatively easy for busy people or people with special needs to shop and make purchasing decisions without the hassle of being in an inaccessible place.
2. Larger Audience Reach
An e-commerce website makes you easily tap the global market, where you could easily reach out and offer your products and services. Meaning you can do business with people worldwide, no matter the time zone or distance.
By having a site that is open 24/7, people could easily enjoy the round-the-clock convenience to be able to buy whatever they want, whenever they want it.
You will not be losing out sales, unlike a physical store, because you have an online shop that is open 24/7.
3. Cost-effective
It is easier to sell your products and services online because you are selling them on an online platform. Unlike traditional retail businesses, you do not have to worry about the high cost of shop rentals, utility bills, and a large team of employees.
As a result, you will be able to sell your products and services at a more competitive price.
4. Customizable
When you work with a professional design team, you will have a greater chance to come up with an e-commerce site that is highly customized and perfectly tailored to fit your needs.
A customized website lets you strategize better, which benefits and features you need to highlight more on your online store.
Moreover, it makes it easy to highlight your brand logo and other branding icons that work best for your business.
5. Better Conversion Rates
No matter how famous your brand is, if you have low conversion rates, your profits will be low as well.
An e-commerce site will help you boost your conversions because people can instantly buy from you rather than wait for your physical store to open.
6. Purchasing Decisions are Easily Influenced by Ecommerce
When people put their minds into buying something, they will usually start off on the internet.
That’s why you should consider your site as your showroom, where customers can easily check out the products you are selling and know why that particular product is right for them.
Now, imagine you have an e-commerce site, and people can conveniently buy that product in just a couple of clicks. You will get money from the purchase without physically opening a store.
A website that is well-managed, easy to navigate, and professional-looking can easily influence your customer’s buying decisions, simply by showcasing your products and services at its best. You will get better revenues as well.
7. Enhanced Customer Experience
A lot of people want to research a particular product or service first before buying them online. A well-designed e-commerce site will help them achieve that in the fastest and most convenient way possible.
A professional-looking site will let prospects know that you are committed to giving them the best possible customer experience, both online and offline.
You can also use your e-commerce site to connect with your audience via press releases and social media content.
8. Open All the Time
Although other physical stores like convenience stores, fast-food chains, and gasoline stations can manage to offer a 24-hour service, it is quite an impossibility for other businesses, especially if there is no internet.
One of the major advantages of having an e-commerce site is for your prospects to access your products and services at any given time, whether it is day or night.
Imagine if you are open 24/7, and how it could benefit your business. A lot of people may look up your products and services after work or school hours, at times where your physical office or business is closed.
The good news is that your website can serve as your 24/7 salesperson to answer any questions, and can generate leads (and even sales!) for your business.
9. Less Risk
Setting up an e-commerce store allows you to enjoy more profitability with fewer risks.
You are likely to employ fewer people with low chances of shoplifting, damages to your products, and working with rogue workers that could easily happen when you open a physical shop.
10. Greater Brand Awareness
When you have a business online, you will be receiving regular social media mentions, gaining brand new customers through search, and tapping into new markets online, which helps boost brand awareness.
As a result, more people are aware of your company and interested in purchasing what you have to offer.
Building a successful e-commerce site can also have a snowball effect. As more and more people share and spread the news about your products and services, your brand awareness grows, so as your sales.
Final Thoughts
Sure, you might be offering products and services in your physical store. But you also could not deny the value and convenience an e-commerce store offers.
You are also losing out on the opportunity of bringing those excellent products in front of the eyes of a larger market to gain more sales.
That’s why you should not let your anxiety and apprehension get in the way of setting up and creating an e-commerce site for your business.
Setting up an e-commerce store will give you a competitive advantage over your competitors who have not yet decided to embrace the world of e-commerce. A world where a lot of prospects are always looking for the easiest and the most convenient ways to purchase what they need, in spite of a busy lifestyle.
This article was written by Juliette Anderson.
