Compared with traditional retail methods, you can create a basic e-commerce store with just a few clicks. There are many e-commerce platforms, such as Shopify, Squarespace, from which you can use some pre-made templates to design your own store. The platform is responsible for hosting, maintenance, PCI compliance, etc.. There are several SaaS-based e-commerce platforms that make the sales process very realistic and simple for businesses.
The cost of opening an e-commerce business is less than the cost of opening a physical store. Most online marketplaces and e-commerce solution sites can register for free. They usually charge a small fee, which is a certain percentage of sales, to allow you to sell products on their platform. You can use drop shipping to obtain inventory without investing a lot of money. Social media, Google AdWords or organic search provide a profitable way for your online marketing business. You can run your own business and avoid salary expenses. As sales increase, you can grow your business.
Buyers start searching online
Today, potential customers often use digital channels to locate the products and services they need. Compared with 71% a year ago, about 87% of shoppers this year started looking for products online. Regardless of whether they buy products offline in physical stores, their searches start from sites such as Amazon or eBay. Buyers compare prices, brands, search reviews, etc.
Knowledge of customer data
Another benefit of online sales is that it is very simple and easy to collect data, measure data and take action. Online sales allow you to get first-hand data by tracking customer interactions with your e-commerce solution site. This data provides you with information on how to improve the customer experience and increase website sales. Tracking the availability of customer interactions allows you to identify and improve any actionable feedback loops that can help you improve the customer experience. All you need to do is ensure that this data is collected and processed ethically and is protected.
Reaching new customers
As mentioned above, there are different forms of e-commerce sales. Each channel has its own unique audience and marketers can interact with it. Online websites can also help companies reach international buyers. Social networking sites can help companies reach new people. Markets like Amazon provide you with a wider audience and can also help companies identify niche markets. The best part is that companies can use different online touch points to ensure interaction and attract many different audiences.