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6 Reasons Why Businesses Should Invest In E-commerce Strategies

Are you looking for ways to scale your business and grow your sales globally? Over the past decade, consumers and buyers’ purchasing habits have significantly evolved. Customers nowadays search, compare, and purchase products online at the comfort of their homes or offices. This is why many businesses are playing catch up. Many brands are utilizing innovative technology to enhance their customers’ experience and boost their sales. 

Nowadays, online business presence alone isn’t enough. You need ecommerce strategies to experience true business growth and achieve your goals. If you’re looking for reasons why you should invest in ecommerce strategies, look no further. Here are six reasons to consider: 

ENHANCED CUSTOMER EXPERIENCE 

While the number of online shoppers has constantly been growing over the years, some of them want to physically visit and touch the products they are purchasing, as it would be in a brick-and-mortar store. Ecommerce strategies help businesses offer their customers the best of both worlds.

Basically, an ecommerce strategy enables your customers to shop from anywhere in the world round the clock. To enhance customer experience, you can add apps and features that allow the customers to review the products upfront. You can also enable them to chat directly with your staff and get reviews from previous clients. 

This advantage also manifests on the company side. You can equip your store employees and staff with smartphones and tablets to improve the store experience. This can enable them to showcase your products online and even take orders forthright. 

Ecommerce strategies also boost customer experience by making your products and merchandise easier to find. Your customers can find what they’re looking for from your homepage as well as the product categories and pages. Also, with a search tab, your customers can simply type in what they want and find them right off the bat.

Business Growth

Business growth and scalability are some of the major benefits of investing in ecommerce strategies. Ecommerce enables you to grow as your clientele and demand for products and services increases. 

You can easily add more products, payment options, and even expand your shipping locations. This eliminates the need to move to a larger store, which might take a few years, as is the case with traditional stores. Ecommerce exposes young businesses to more growth opportunities. You can also expand to more international channels faster.

Also, with the rise of drop shipping, business owners can bypass many business complexities present in the earlier years. For example, you might take a while to learn inventory and supply chain management as these take time and experience to learn.

However, with ecommerce strategies, you can set up an ecommerce store from scratch and grow it much more easily. Generally, in drop shipping, you don’t need to physically have the goods you’re selling, unlike a physical store. Once a sale is confirmed, the goods are shipped directly from the manufacturer to the buyer. This makes it easier to carry out business transactions and scale your business. 

Savings

Setting up an ecommerce store provides low-cost platforms. This makes it inexpensive to operate when you invest in ecommerce strategies for your business. This low-cost nature of ecommerce strategies cuts across various business operations, from startup operations, inventory management to shipping.  

You can also cut costs by integrating your ecommerce strategies to your brick-and-mortar operations. 

Like in every business strategy, there are various challenges to overcome, but when compared to running a physical store, ecommerce startup and operational costs are generally low. Here are a few areas that help you save funds that would have otherwise been used to run a physical store: 

  • Advertising – Digital advertising is generally cheaper compared to traditional forms of advertising. Even better, various digital marketing strategies can be adjusted to suit your budget and needs. For example, your ecommerce strategy can make use of cost-effective emails to advertise your products and reach your target audience.  
  • StaffWith ecommerce strategies, your business could entirely be online-based and not have a physical store. This means you won’t have to hire sales and customer service staff for your business. In their place, ecommerce strategies allow you to use chatbots to handle business inquiries. You can also have a virtual assistant to handle any customer service needs at any time of the day.
  • Rent Like any other business, you’ll need initial capital for your business, as well as other recurring costs. However, you won’t be paying rent for your store. Rent can significantly increase a business’s expenditure and affect your profits. With ecommerce strategies, you’ll only pay for your web hosting and probably shipping for your products.

The more your business grows, the more you can increase your business spending to enhance your product’s quality and boost your marketing efforts. You can also plan to build a custom site as your business scales.

Brand Visibility and Awareness

Business owners need to utilize various strategies to increase their brand’s visibility and awareness in today’s business world. This should be to ensure that your customers can recognize your brand or products even without seeing your name. 

Ecommerce strategies help you enhance your brand’s visibility and awareness. While placing your business online can help increase visibility by itself, you need to go a step further in your efforts. Fortunately, not many ecommerce businesses are making use of these strategies. This means that if you utilize them well, you gain an edge over your competitors. 

What are the ecommerce strategies that will help you build awareness for your brand? Here are a few to take note of: 

  • Give value on your blog A blog is one of the most powerful tools to boost your brand’s awareness and significantly scale your revenue. Many online buyers make purchasing decisions based on something they read. When creating content for your blog, make sure it answers your readers’ questions and offer them value for their purchasing decisions. Your blog should bring in more traffic for your ecommerce site.
  • Have a social media strategy  – Nowadays, it’s not enough to just have a social media presence. Everyone now knows that social media is powerful, so you need to have strategies to use it well. Some social media marketing strategies you can use include going live, linking your site to Facebook messenger, creating YouTube videos for your products, and using social media influencers to create testimonials.  
  • Leverage on emails – Any ecommerce owner should know that emails are a lead generation strategy. However, only sending promotional emails to your list isn’t enough. You need to constantly remind them of your brand so that when the time to purchase comes, they instantly think about you. 
  • Boost your presence on Google – Google has a 90% market share of the search engine industry. This means it’s by far the most important search engine tool for any business. There are various ways to increase your presence on Google, such as signing up for Google My Business and Google Shopping.

Effect marketing strategies

The internet exposes ecommerce businesses to various marketing opportunities that are otherwise not available to brick-and-mortar establishments. Primarily, a website is one of the most powerful marketing tools a business can have. With the right SEO, you increase the chances of your business being found online. 

But that’s not all. Ecommerce strategies can help you with better target marketing and personalization. This is because ecommerce allows you to gather and analyze customer data more easily compared to traditional channels. 

This can become very instrumental when considering customer retention strategies, such as loyalty programs. You can track their past buying habits and then create your program based on this data, making it more effective.

Because you have your customer data and habits, personalisation becomes easier. Think of how leading e-commerce sites have a “recommendations” section, where you find products customised to your own liking and needs. This data can also be used to recommend products based on location or spending habits.

Also, in traditional business models, upselling and cross-selling is difficult as you don’t want to piss your existing clients off by recommending more products, which might be more expensive. Because you don’t communicate face-to-face, ecommerce makes it easier to provide suggestions for products that your customers can add to their cart.  

Access to a larger target market

One remarkable thing about the internet is that it provides a level playing field. This means that a small business can punch above its weight and take on much larger competitors. Ecommerce strategies allow you to reach beyond your geographical ability. You can get clients miles away from your location. 

Also, there are no time limitations. An ecommerce business can take orders at 3 a.m. and bring in revenue regardless of the time. With a brick-and-mortar business, customers have to come during the operational hours. 

Ecommerce strategies give you access to the entire world. Businesses that utilize ecommerce strategies have the upper hand compared to their competitors.

In conclusion

Ecommerce strategies offer business owners a whole range of opportunities and reasons to invest. Ecommerce helps you improve your customer’s experience and boost customer retention. This leads to higher sales numbers and ultimate business growth. Ecommerce strategies also help you save on regular business costs, such as rent, staff salaries, and advertising fees. 

Ecommerce strategies also expose you to brand awareness and visibility, as well as let you gain access to the global market.