In this age and time, society is very competitive and convenient focused. Consumers no longer want to go through the stress of venturing to the high street to buy items. They want to get their shopping done from the comfort of their homes. Therefore, making eCommerce a flexible solution for both businesses and buyers. Whether you are a startup or a big business, there’s no doubt that an eCommerce website would be of immense benefit to you.
By 2021, eCommerce is going to grow from $2.3 trillion in 2017 to $4.88 trillion. Though popular marketplaces will yield the most, there is potential for yours. Owning an eCommerce website protects your business from the changing rules of any single market place.
What is an Ecommerce Website?
E-Commerce websites are online portals that facilitate online transactions of goods and services. This is done via means of the transfer of information and funds over. Generally, an e-commerce website is a website that allows you to buy and sell tangible goods, digital products or services online.
Types of E-Commerce websites
According to cyberchimps, different eCommerce websites are labelled or referred to differently, based on the function they fulfil.
- Business-to-Business (B2B): Electronic transactions of goods and services between companies. Example: A business sells SAS products to other businesses.
- Business-to-Consumer (B2C): Electronic transactions of goods and services between companies and consumers. Example: You buy a new t-shirt from an online store.
- Consumer-to-Consumer (C2C): Electronic transactions of goods and services between consumers, mostly through a third party. Example: You sell your old smartphone on eBay or Olx to another consumer.
- Consumer-to-Business (C2B): Electronic transactions of goods and services where individuals offer products or services to companies. Example: A Social media influencer offer exposure to their online audience in exchange for a fee.
Still on the fence about going for an eCommerce website?
Below are 6 ways you’ll benefit from an eCommerce website:
1. Broaden Your Brand
If you want to take your brand from a traditional store to a well-loved and innovative store, then eCommerce is your go-to. You can offer your products and services 24 hours. Also, your business becomes more than just a single store. Instead, a general home of your business. In addition, you get to expand your business without a care in the world about location.
Nobody wants unnecessary stress. These days, people opt for convenience. With an online store, you are available 24hrs. As a result, no matter what your customers’ schedule might be, they can still visit your store. Although people still go shopping physically, most of them check out the products online first. Customers want a flexible and convenient experience.
3. Increase Your Reach and engagement
Only people around you or passers-by will visit your traditional store. However, millions of people can visit your online store from across the world, anywhere anytime. This allows you to improve not only reach but engagement as well. The more people visit your store, the more they’re likely to engage.
There’s a huge gap between the number of people you can reach through an online store and a traditional store. Hence, if you are looking to increase your reach, taking your business online is your best bet.
4. Gives You Marketing Opportunities
You can use a range of marketing on your website that can’t be used on a platform. Your website is an incredible marketing tool for your business.
For instance, if you use SEO when building your site, you increase the chances of your business on search engines. SEO can drive traffic and customers to your store. You can optimize for search within a market place. Also, other marketing techniques such as pay-per-click can work on your website. So also email marketing and social media which can all be linked to your website.
An eCommerce store provides room for blogs. As a result, drive traffic, create leads and build relationships. No doubt these activities could drive revenue over time.
5. Build a customer email list and market directly to them
You can market to your customers directly via their inbox. Also, you can send them promotions, offer discounts and announce new products or services. However, you need their emails to pull this through. Here is where your website comes in handy. When customers buy from your website, you collect their contact information. This is unlike market places. At market places, you don’t have direct access to your buyers. As a result, there is little or no chance to promote new products or services to them.
Naturally, you would want to improve your business for customer requirements and demands. An eCommerce site allows you to make all the changes you want. For example, you can add more payment options.
To summarise, an eCommerce website offers a whole range of opportunities to your business. Opportunities that do not only generate sales but also strengthen your business.