Global online sales increased to nearly $4.29 trillion in 2020. This was a 21.4% increase over the previous year (according to Digital Commerce 360 estimates). This was partially driven by the pandemic, but also by the fact that more and more consumers worldwide are becoming comfortable with the concept of shopping online.
If you are perhaps dithering with the decision of whether or not to enter the e commerce market, well dither no more, it’s an absolute no-brainer in the new business environment. And specialist agencies like Cliqued Media website design Ireland, are there to support you in re-positioning your business model to address e commerce requirements.
There are three main fields of e commerce, being B2B, B2C and C2C. Depending on your product category, or type of business, you’ll need to quickly get into the e commerce space. That is, if you are not involved already.
Just consider the following thought-provoking benefits of moving some or all of your business online:
Building a Global Presence
When you enter the realm of e commerce, your business potentially becomes a global one, accessible by anyone from Galway to New York. All you have to do is to ensure that you have the distribution capabilities and off your go. Just think what it would cost in traditional marketing terms to gain global exposure and access.
Increased Brand Awareness
Creating and maintaining brand awareness has always been a major objective of any marketing strategy. Well, without over simplifying, if you do a good job with your brand narrative online, your awareness will grow exponentially. Although you may be focusing particularly on ecommerce, your brand will naturally benefit from exposure on the various channels that you use, to drive consumers to your online store. Click here to learn some of the effective e commerce web design.
Reducing Cost of Sales
Marketing and selling online has the potential to save millions in overheads and marketing budgets. Take for instance the cost of distribution. For many companies, the need to maintain a physical presence in the form of retail outlets has disappeared, as consumers move online.
Sure, this does not apply to all product categories, because some products require a physical interaction. In these cases, both a physical and online presence is desirable. But if you’re lucky enough, a good online presence alone, will do the trick. Add to that the cost-effective nature of online, compared to traditional marketing, and the fact that you no longer need a salesforce, and there you have it!
24 Hour Sales Opportunities
Imagine running your business 24/7, without having to pay exorbitant overtime costs, or worrying about security issues at night. Well, e commerce makes this possible, without most of the expenses incurred with a physical outlet.
Developments in AI, mean that your system can handle orders seamlessly and reliably, without the need for expensive staff. At the very least, and depending on your business commitment, you may need to maintain order desk staff or people to assist with online queries and complaints.
Greater Customer Satisfaction
As far as customer satisfaction is concerned, e commerce is streets ahead. You’re building brand loyalty by making customer’s lives easier. You’re providing people with convenience and taking a major risk factor out of their lives, by enabling them to buy online.
Trading hours become limitless, and customers can browse online and shop at their leisure, anytime the need arises. It means that customers can act immediately on a whim if so required – talk about increasing impulse purchase opportunities and growing potential sales volumes.
Better Customer Relations
Any comprehensive e commerce strategy entails using a selection of internet channels, that should all serve to drive people to your online store. There you can attempt to convert and sell to them. The clever use of social media, blog posts and forums in particular, sets up a platform for live interaction and discussion with potential customers. Here you can begin to create relationships and loyalty.
Finally, when a buyer is interacting on your online store, you are able to monitor their behaviour on site and also, whether the purchase is completed. Failing completion, you’ll also be able to follow up with personal reminder messages, emails and other relevant communication aimed, at stimulating further purchases.
Broader Distribution and Product Offering
Expanding your sales territories and width of distribution will no longer be a huge and expensive undertaking. Why, because you’ll essentially be working out of one location. Just a single virtual online store is all that is required and from there, the world becomes your oyster. And because shelf-space is no longer a restriction, you’ll be able to offer a broader product range as well. Even diversify if desirable.
Communicate effectively on the right channels. Aim your message at the right people. Offer a good quality product or service. Guarantee fast and reliable delivery and returns. Finally, support this with secure payment options and your business is sure to flourish.
More Marketing Opportunities
One of the great things about internet marketing and e commerce, is the number and selection of channels to choose from, all of them clearly targeted at distinct markets, and each appealing to millions of like-minded consumers.
Some of these different opportunities and marketing ‘tools’, include the likes of social media platforms, e mail marketing, search engine marketing, SEO, content-marketing, blogsites, Google Display advertising, Pay-Per-Click and the like.
A far cry from the old radio, TV and print scenario. It must be emphasised however, that this does not mean ignoring traditional advertising strategies. Traditional and online marketing should work in synergy to achieve the same goals and objectives of attracting loyal customers.
Using the Professionals
Developing a new e commerce strategy and setting up for this, is usually a relatively low-cost exercise, when compared to traditional business models. That is until you don’t do it properly or decide to do it on the cheap. The result of taking short cuts, can be a bunch of highly disillusioned customers, and the destruction of much of the loyalty and goodwill built up for your brand.
Doing e commerce effectively, requires a great deal of strategic thought, and the advice of experts. It’s really important that you take a strategic approach and make use of the e commerce professionals. Any upfront investment will be paid back handsomely if the homework is done correctly.
Luckily there are experts who specialise in e commerce strategy and set-up. Experts like Cliqued Media, who will work closely with your team to analyse your e commerce needs and to develop the appropriate strategy. Cliqued Media will help you to develop a comprehensive strategy that drives traffic to your online store and builds customer sales and loyalty.