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Go Online: How to unleash the potential of your business with E-Commerce

From startups to small businesses right through to huge brands, there are a huge number of companies that can benefit from their own e-commerce website, where they can sell their own products or services. In today's competitive and convenience-focused society, no longer do consumers want to venture to the high street in order to buy items. Instead, consumers want to shop from their own homes, making e-commerce a flexible solution for both businesses and buyers.


If you’re still on the fence about launching an e-commerce store then look no further, here’s the top 10 reasons why e-commerce is so important for your business and just how you can benefit from moving online this year!




1.    Helps You Reduce Your Costs

To have an online store it is not necessary that you have all your products presented in a physical space. In fact, there are different companies that operate online where they only show all their inventory through their electronic commerce.

This implies not only saving by not needing a rental or purchase of premises, but also everything that involves electricity, the Internet, etc. Or if you want to have one so that customers have a physical space, it does not have to be as large as everything you offer. In either case, you will be reducing your costs.


2.    Helps Businesses Go Global

Directly related to the previous point, this fact allows you to put your products for sale anywhere in the world. They will not have the explicit need to travel to where you are to see what you have to offer.

 

If you are running a physical store, it will be limited by the geographical area that you can service, but owning an eCommerce website will give you the opportunity to increase your outreach. It’ll offer your products & services to customers around the whole world, regardless of the distance and time zone.

Furthermore, this eliminates all kinds of geographical and linguistic tango barriers. Your e-commerce translated into different languages ​​will allow them to buy from different countries.

With eCommerce and mobile commerce as well, the entire world is your playground. Your products or services are within reach for a lot of customers who might be sitting in another corner of the world.

So, if you want to grow your online business worldwide, it is a great idea to start creating your own online store and localize your it in different languages.

  

3.    Can Be Done With Fewer Overheads & Fewer Risk

Starting an online store can mean significantly lower start-up costs compared to a brick-and-mortar retailer. The retailer or the online business owner doesn’t have to take into consideration the high expenses of shop rental, hiring a salesperson to woo the customer, utility bills, security measures, etc. This, in turn, will enable you to sell your products at competitive prices. Also, having an online store enables you to enjoy increased profitability with less risk.

 

4.    Can Broaden Your Brand & Expand Your Business

Having an eCommerce store can be used to broaden your range of products/services for sale, expanding your business, bringing you more customers and diversifying your sales. It’s the ideal way to take your brand from a traditional brick & mortar store to an innovative, well-loved one.

 

With eCommerce, there is no need to have more than one branch, just one singular online store allowing you to fully reach customers without having to worry about moving locations, you can just manage your online business from home.

 

It’s important to mention that, eCommerce will be helpful for Both B2C and B2B businesses to boost their brand awareness in the market.

 

5.    Offers Better Marketing Opportunities

Your eCommerce site is the best marketing tool that you would ever have. Thanks to the internet, now anyone can market through online tools like social media marketing, email marketing, search engine marketing, pay per click ads, and SEO helps you build very useful links and contacts.

 

For example, with good SEO, your online store will appear in the top results of SERPs. Also, social media networks will provide you with a platform to engage and build trust with your customers through reviews and ratings, as well as keeping them informed with regular posts about your products and offers.

 

6.    Online Store Will Stay Open 24*7/365:

Also, one of the great importance of eCommerce that eCommerce retailers can enjoy is store timings are now 24/7/365 as the eCommerce stores are open 24 hours a day, 7 days a week, compared to the regular stores.

 

In this way, retailers can increase their sales by boosting their number of orders. However, it is also helpful for customers as they can purchase products & services whenever they want no matter whether it is midnight or early morning.

 

7.    eCommerce Is Easier & More Convenient

People’s lives are hectic; getting to a physical store means taking a lot of time and effort. So, starting an online store that means you can fit into your customer’s busy lives, making the products they want accessible when they want them.

 

The enjoyable thing about eCommerce is buying options that are quick, easy, convenient, and user-friendly with the ability to transfer funds online.

 

“In online shopping, your item is always one click away as opposed to physical shopping where you may be forced to wait for weeks or months before an item you ordered is available,” says Heritage House, which sells boy suits online.

 

Thanks to eCommerce’s convenience, consumers can save lots of time, effort as well as money by searching for their products easily and making purchasing online.

 

8.    Personalize Your Shopping Experience

If there is one of the clear advantages of having an online store is to be able to know (and monitor) what your consumer does. Physically, it would be very uncomfortable for a potential buyer to enter your store and you were all the time behind him asking what he wants or why he does not buy your product.

eCommerce allows you, for example, to know at what point in the process you left the purchase halfway and even remember that you left it in the middle by sending an email. This, in addition, can help you to improve your shopping experience for another occasion: shortening the steps to complete the order or offering those buyer products with similar characteristics.


9.    Improve the Image of Your Business

Among the advantages of having an online store, there is no doubt that it also includes improving the image of your company. Offering a good online sales platform to users will give your company a great corporate appearance.

Not only will it prove to be up-to-date, but it will also show interest in facilitating consumer purchases. For example, it prevents you from traveling to the physical place of sale and allows you to compare prices from home. In addition, thanks to what we have mentioned as loyalty or feedback, you can even implement improvements in your products that customers will value positively.


10. Easily Receive Feedback on Products

Have you always wanted to know what consumers think of what you sell in order to offer more or improve it? Well, the online store will allow you to receive that feedback so you can implement improvements in your business. Through star ratings, with the possibility of leaving comments. 

In addition, the customer will feel heard after their purchase. There is no better way to thank you for your confidence in purchasing your company’s products. What’s more, if you offer the quality you will have nothing to worry about. Enabling a direct channel where others see what they can expect from a given asset is a great public exercise of trust in your business.


Types of Ecommerce Solutions

Operating an online store isn’t one-size-fits-all; it’s an overarching category of eCommerce software that comes in a few different shapes and sizes. Before diving in head first, take time to do your due diligence on the available options.




The following are the different types of e-commerce platforms:

·         Business-to-Business (B2B)

·         Business-to-Consumer (B2C)

·         Consumer-to-Consumer (C2C)

·         Consumer-to-Business (C2B)

·         Business-to-Administration (B2A)

·         Consumer-to-Administration (C2A)


Business-to-Business (B2B)

A B2B model of business involves the conduct of trade between two or more businesses/companies. The channels of such trade generally include conventional wholesalers and producers who are dealing with retailers.


Business-to-Consumer (B2C)

Business-to-Consumer model of business deals with the retail aspects of e-commerce, i.e. the sale of goods and/or services to the end consumer through digital means. The facility, which has taken the business world by storm, enables the consumer to have a detailed look at their proposed procurements before placing an order. After the placement of such orders, the company/agent receiving the order will then deliver the same to the consumer in a convenient time-span. Some of the businesses operating in this channel include well-known players like Amazon, Flipkart, etc.

This mode of purchase has proved to be beneficial to the consumers when compared to the traditional method, as they are endowed with access to helpful contents which may guide their purchases appropriately.


Consumer-to-Consumer (C2C)

This business model is leveraged by a consumer for selling used goods and/or services to other consumers through the digital medium. The transactions here are pursued through a platform provided by a third party, the likes of which include OLX, Quickr, etc.


Consumer-to-Business (C2B)

A C2B model is the exact reversal of a B2C model. While the latter is serviced to the consumer by a business, the C2B model provides the end consumers with an opportunity to sell their products/services to companies. The method is popular in crowdsourcing based projects, the nature of which typically includes logo designing, sale of royalty-free photographs/media/design elements, and so on and so forth.

Note – the term ‘crowdsourcing’ was coined in the year 2005 as a sourcing model that facilities individuals/organizations to obtain goods/services from internet users.


Business-to-Administration (B2A)

This model enables online dealings between companies and public administration, i.e. the Government by enabling the exchange of information through central websites. It provides businesses with a platform to bid on government opportunities such as auctions, tenders, application submission, etc. The scope of this model is now enhanced, thanks to the investments made towards e-government.


Consumer-to-Administration (C2A)

The C2A platform is meant for consumers, who may use it for requesting information or posting feedbacks concerning public sectors directly to the government authorities/administration. Its areas of applicability include:

·         The dissemination of information.

·         Distance learning.

·         Remittance of statutory payments.

·         Filing of tax returns.

·         Seeking appointments, information about illnesses, payment of health services, etc.


Executive Summary

Ecommerce can be an excellent way for small businesses to stand out, offering a way to drive sales, increase visibility on the web and meet growth goals in a way that achieves everything you need. By choosing a dependable platform that can accommodate current and future needs and focusing on the most valuable features for success, it’s possible to take your business to the next level.



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