15 Mar 2017, 10:13 — 5 min read
An e-commerce website is the means for small and medium businesses to benefit from the same opportunities to market their products that large businesses enjoy. An online store allows a business owner to transcend the boundaries of geography and time, & boost sales exponentially. There are many advantages to selling online, whether you use it to sell products alongside your conventional brick & mortar store or as a standalone e-commerce venture.
Here are the top benefits of having an online store for your products or services.
1. Expand customer base
The biggest advantage of an online store is that you can reach more customers than would ever be able to simply walk through your doors. An online shop removes the impediments of travel & distance. As a business owner, you want to grow your business and attract new audiences. Online retail has the added benefit of driving traffic from search engines. For instance, if a customer searches for T-shirt printing online, if your e-commerce store provides that product, it will show up in the search results even if the customer has never heard of your brand before. An online store also allows business owners to reach out to their potential customers without incurring any ‘middle man costs’.
2. Reduce startup & marketing costs
In general, an online store costs less to set up and run than a physical shop. For a brick and mortar store you incur expenses like rent, utility costs, property tax, insurance & salary of employees. With an e-commerce store the startup cost is minimal. Moreover, a good e-commerce website becomes a company’s online identity and a platform to advertise all around the world with minimum cost, hence saving both time and money.
3. Boost brand awareness
An e-commerce website will help your brand get more awareness in the online landscape. As you develop more web pages, the search engines will index them and boost your ranking. It’s important to use relevant keywords in your product descriptions, as this is what will drive traffic to your site. As your site gets more visibility and prominence, people will become aware of your brand.
4. Open for business 24/7
The biggest advantage of an online store is that sales can be made at any time, and customers can buy when it suits them. An online store allows customers to shop any time of the day, 365 days a year, thereby giving a dynamic boost to sales. Research shows that the most popular time for online shopping is 12pm to 2pm weekdays, and on Sunday evenings.
5. Greater flexibility & improved customer profiling
An online store can be updated instantly and as often as you like – for example, you can promote a special festival sale on your store banner without incurring any additional advertising costs. Unlike selling on marketplaces, with your customised online store you can provide personalised service to your customers and choose whether you want to accept returns (30% of sales are returned) or free shipping.
Improve customer profiling, with the opportunity to target products and services at specific groups based on buying data.
6. Effectively leverage cross-selling
Cross-selling is the art of selling a complementary or related product to a customer who is already making a purchase. A common example is being asked if you'd like fries with your burger. Cross-selling can significantly increase profitability. You can easily relate multiple products to one product and thus automate your cross-selling process.
7. Increase customer loyalty
Your online store is more than just a store, it’s a community. You may recommend products to customers based on their purchase history. Also, to ensure that customers will return to your online store, allow them to sign up for emails advertising deals, promotions and new products from your store. The key to profitability lies in building a loyal customer base. Increasing the number of repeat customers is important. Marketplaces like Amazon and Flipkart don’t guarantee customer loyalty. People only recognise the marketplace and buy for the best price. There is little brand recognition for the seller. An online store allows you to interact with your customers, present bespoke offers, promote greater brand recognition and thereby increases customer loyalty.
An online store is no longer a luxury for today’s businesses. It’s a necessity. Without an e-commerce website, you’re limiting your growth potential. Fortunately, with LINKER.store, running an e-commerce store is simple, rewarding and absolutely free of cost.
Sign Up today to take your business online.
Posted byGlobalLinker Staff
We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
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