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Ecommerce Site: Unlocking Revenue Streams and Customer Reach
by gardenpatch Insights on Dec 2, 2022 4:46:09 PM
Ecommerce has become increasingly popular in recent years, with many people buying clothes, accessories, and other items online without trying them on first. However, not everyone is comfortable with this approach, and some people still prefer to visit physical stores to try on items before making a purchase.
- Many people prefer to buy clothes online without trying them on first
- Some people prefer to visit physical stores to try on items before making a purchase
- E-commerce has become increasingly popular in recent years
My mother, for example, is in her late 50's and refuses to purchase anything online. She believes that if you don't try on something, you don't know how it will look on you, and she would rather visit a physical store to try on items before making a purchase.
On the other hand, I am the opposite. I don't know how something will fit, but I know it will look good on me as long as it's small. Ultimately, it's not the clothes; it's the model, right?
Though many people, like my mother, prefer to try on items before buying them, many prefer the convenience of acquiring new items through e-commerce platforms. E-commerce has become increasingly popular in recent years, and this trend will likely continue to grow as more people become comfortable buying items online without trying them on first.
What is e-commerce?
E-commerce, or electronic commerce, refers to buying and selling physical or electronic items online. It has become a preferred shopping method worldwide due to its ease and convenience. E-commerce allows people to buy products or services from their homes at any time of day or night.
- E-commerce refers to buying and selling items online
- It is becoming increasingly popular due to its convenience and ease
- E-commerce growth is expected to hit 21.5% in 2019, 19.8% in 2020, and 18% in 2021
Furthermore, even less popular sectors are expected to become more open to e-commerce options. The increasing availability of online accessibility, mobile technology, and digital innovations has made e-commerce necessary for businesses that want to reach their customers and increase sales.
According to Nielsen, 85% of users (3.4 billion) spend six and a half hours browsing the web daily, which means that potential customers are spending more and more time online. This presents a huge opportunity for businesses to increase their online presence and take advantage of the growing e-commerce market.
In 2018, retail e-commerce sales grew 23.3% over 2017, and this trend is expected to continue, with e-commerce growth projected at 21.5% for 2019, 19.8% for 2020, and 18% for 2021. These numbers show the potential of the e-commerce market and the importance of having an online presence for businesses.
What are the benefits of having an e-commerce site?
There are several reasons why business owners are now considering running an e-commerce site. This can be because of the following reasons:
- It can reduce the costs of owning and running a physical store. Think about it, having a physical store requires expenses such as rent, repairs to a building or equipment, payroll, travel costs, pension contributions, and employee benefits such as health insurance, accountancy, legal fees, property taxes, etc. The list could go on and on.
- It gives you the opportunity to sell worldwide. The Internet can be reached in many places around the country. This census stated that in 2017, among all households, 78% had a desktop or laptop, 75% had a handheld computer such as a smartphone or other handheld wireless computer, and 77% had a broadband Internet subscription. This is just in the US; let’s talk about expansion. What about selling internationally? Statistics show that over 4.33 billion were active internet users as of July 2019, encompassing 56 percent of the global population.
- Selling online reduces geographical barriers. Depending on the market you want to focus on, there are no limitations once you have all the logistics and a good e-commerce site built out. You can reach customers in areas where geographical barriers would have limited you due to physical retail locations. The bottom line, e-commerce allows businesses to reach more customers than physical locations alone.
- E-commerce allows you to attract new customers through online visibility. As you have probably heard before, Search Engine Optimization is a big deal in marketing. As I shared back when I wrote this blog, applying the correct techniques and strategic content on your site allows you to reach thousands of potential buyers across the internet.
- E-commerce allows you to adapt the message according to your buyer persona. Suppose this is the first time you hear the term buyer persona. In that case, it is defined in less than 100 words: A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers. When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals. The more detailed you are, the better.
- Selling online through an e-commerce site allows you to adapt your message to the person you are selling to based on:
- Geographical location
- Age
- Gender
- Buyer’s journey stage
- Relationship status
- And many more!
One way to do this is by placing strategic forms on your website. With the information that a customer provides in different forms and the correct use of cookies on the customer's computer, you can gather and learn a lot of information from your leads and customers. With this information, your email nurturing campaigns, as well as your social media messages and advertising, can communicate the specific message that your users want to engage with.
Have you ever visited an e-commerce store and probably added some things to the cart but didn’t make a purchase? It is not unusual that a few days after that (if not hours!), you receive an email with an “abandoned cart” message.
Things to consider when running an e-commerce store:
- Consider the payment options that are available to your customers
Regarding payment options, it is important to offer a variety of options to your customers. This will make their shopping experience smoother and increase their likelihood of purchasing. Some popular payment options for e-commerce stores include credit and debit cards, PayPal, and Apple Pay.
- Make sure your website is mobile-friendly
With the increasing use of smartphones and tablets, your e-commerce website must be mobile-friendly. This means it should be easy to navigate and use on a mobile device. But don't worry; many e-commerce website builders today can accommodate this. So you can choose from the available mobile-friendly e-commerce website templates.
- Incorporate social media into your e-commerce strategy
Social media platforms can be a powerful tool for driving traffic and sales to your e-commerce store. Regularly posting engaging content and promoting your products on social media can attract potential customers and encourage them to purchase.
- Invest in search engine optimization (SEO)
SEO is a crucial aspect of any e-commerce strategy. By optimizing your website for search engines, you can increase its visibility and attract more potential customers. This can be done through keyword research, creating high-quality content, and building backlinks.
- Implement an email marketing strategy
Email marketing can effectively stay in touch with your customers and encourage them to purchase. Regularly sending relevant and engaging emails can keep your brand in mind and drive sales to your e-commerce store.
Running an e-commerce store can be a great way to grow your business and reach more people.
How to begin?
Are you looking to launch or revamp your e-commerce store? It can be a daunting task, but with our experience in the field, we can help make it a success. Our team has a wealth of knowledge regarding e-commerce, and we know what works and what doesn't.
Here are a few tips to get started:
- Identify your target audience: Who are you trying to reach with your online store? Defining your target audience will help you tailor your marketing and sales efforts to the right people.
- Choose the right e-commerce platform: There are many options out there, so take the time to research and find the one that best fits your needs and budget.
- Develop a clear and compelling brand message: What makes your products or services unique? Why should people buy from you instead of a competitor? A clear and compelling brand message will help you stand out in the crowded e-commerce landscape.
- Invest in high-quality product photos: High-quality photos are essential for showcasing your products and building customer trust. Invest in a good camera and take the time to properly light and stage your products for the best possible photos.
- Offer excellent customer service: Good customer service can greatly build customer loyalty and positive word-of-mouth. Be responsive to customer inquiries and concerns, and make it easy for customers to contact you.
With these tips, you can build a successful e-commerce store to help your business thrive.
Conclusion
So, in case you know anyone like my mom, now you are prepared to win a discussion over why e-commerce is much more convenient than visiting a retail store to purchase something (plus faster!). To be successful in e-commerce, you need a well-designed e-commerce website.
I hope this blog has helped you clarify some of your doubts regarding the benefits of having an e-commerce site. If you have any further questions or comments, let’s talk!
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