16 Hours of Sales That Your Business is Missing Out on Every Day
Does my business need E-Commerce?
Let’s face it; we’re not superhumans. Aside from our hustle, we need time for sleep and leisure. That’s why if you own a brick and mortar (B&M) store, it only stays open for 33–50% of the day. But what if I told you you can keep your “store” open all day and have sales flowing in while you’re sleeping or relaxing? Introducing e-commerce, the solution that has been around for over 20 years but not enough businesses are taking advantage of. Here are three reasons why for your enterprise to stay alive in 2017, e-commerce is a must:.
1) Meet your customers where they are
People now make over 50% of their purchases online. You owe it to your customers to bring them not only good products, but also convenience. Your products can be accessed across a host of different devices, from computers to tablets to mobile phones and even wearables. Customers can also quickly navigate your store to find and price the products they need.
2) E-Commerce allows your business to expand faster
If you’re the local florist, you may not be seeking to bring your business across the entire globe. But if you are looking to expand your reach beyond local area, eCommerce is the way to go. An eCommerce solution can change your target market overnight from a geographic city or state to a country, continent, or beyond. Cross-channel selling (selling on your own site + popular eCommerce networks like eBay and Amazon) combined with good digital marketing efforts (SEO, PPC, email marketing, etc.) is a recipe for long-term growth and faster return on investment (ROI).
3) E-Commerce reduces costs (more than you think)
E-Commerce websites have different costs associated with them, but they pale in comparison to the costs of operating a physical location. The digital age has left brick and mortar (B&M) on a steepening decline. Netflix is a perfect example of how eCommerce can absolutely destroy a B&M business like Blockbuster. Brick and mortar expenses can prevent many from starting a business and put some small-midsize enterprises out of business. E-Commerce is now allowing more entrepreneurs and self-starters to enter the marketplace. They not only cut overhead expenses, but they can also reduce customer acquisition costs (CAC). By doing so, it also allows many businesses to reduce prices as 71% of shoppers believe they will get a better deal online than in stores.
In the US alone, eCommerce sales totaled $341.7 billion in 2015, up 14.6% from the previous year (US Department of Commerce). We even have an unofficial holiday dedicated to it on the Monday following Thanksgiving. So what are you waiting for?
Venture into the eCommerce marketplace today and contact us for more information.
Samuel Corso is the CEO of TechSuite. He is passionate about bringing quality technology to business leaders and entrepreneurs.