ECommerce has many benefits, and we’ve witnessed firsthand how digital transformation and online shopping have revolutionized how we run our businesses.
Small businesses are competitive and have found success online, opening up new markets and growing beyond their expectations. So, how can your small business benefit from creating an eCommerce store?
Attracting a larger customer base
Perhaps the most obvious benefit of e-commerce is how it expands your customer base. If you are a small brick-and-mortar store, then you can’t expect to generate customer numbers beyond what is locally possible. On the other hand, when you set up an e-commerce site, your customers are not bound by geography. You can sell to customers around the world. Even if you don’t want to get started with international shipping, you’ll still be able to sell to a broader audience within your country. The benefit for a small business comes from how the increased amount of sales is generated with almost no additional overhead cost.
Access to commercial platforms
Startups and micro operators that question – it is hard to run a business usually see their business fail. Yes, there are many challenges in operating a new enterprise in a competitive market, including how to find customers. It’s no easier for online businesses. They, too, need to get seen by their intended audience.
Customer discovery is one way to identify your audience, and strategic digital marketing campaigns can pull visitors to your website. However, SEO optimization takes a lot of hard work and investment to ensure your website is attractive to visitors and intuitive enough to generate sales. The good news is your small business can use a third-party eCommerce provider, and there are plenty of commercial platforms to choose from, including Spotify, Amazon, Etsy, and social media sites like Facebook. Using a provider that offers analytics tools, customer support, sales processing, and shipping gives startups and small businesses the tools to generate revenue without owning and managing the technology.
Free or cheaper promotion
Historically, marketing costs have disadvantaged small businesses over large enterprises. Offline marketing was expensive, but now digital marketing is where most marketing happens due to customers spending a lot of time online. This is why digital marketing is important for all businesses.
You can get started today if your business is not yet promoting itself on social media. Regular posting on sites like Twitter and Instagram can help drive up sales. The great thing about marketing online is how you can utilise the power of social media and get your customers to advertise for you, i.e., refer your business to their social media followers. If you can get them to post about your business, you reach more people and you didn’t even have to do anything beyond providing a great service and product.
Not to mention how much easier it is to personalise the marketing to suit your customers. If you have a wide customer base, you don’t need that single ad to fit all. Use various platforms and marketing strategies to reach target audience segments and ensure your promotional material is always appealing to the person in question.
Better and more personalised service
E-commerce has also helped drive sales because of the personalisation opportunities. This is especially good for small businesses, which might handcraft most items regarding customer preferences. You definitely don’t need to focus on mass production in order to make it in the e-commerce market.
You can start offering more personalized solutions as you learn about your customers. Customers of the modern era love to tweak their products and buy something that isn’t available for everyone else – uniqueness and personality are the big words of the decade, if not century.
Easier way to shop and sell
Overall, e-commerce has made the process a lot easier. Not only can it be easier for you to sell as a small business online, but the customer also benefits from the simplicity and ease of shopping this way. The simplicity can help your small business, as customers tend to look for things online before venturing out in the shops. Therefore, if you can provide a niche service, the customer is likely to opt for the ease of online shopping rather than start looking around.
E-commerce has truly revolutionised the way businesses sell. What’s better is how this revolution has boosted the opportunities available for small businesses. Small businesses are not at a huge disadvantage anymore. In fact, they can often offer a more unique experience to the customer, making their products and services more appealing.
If your business is not yet part of the e-commerce revolution, hopefully, the above points will convince you to join. You’ll experience higher sales and improved growth as a result.