Benefits of ecommerce for small business in 2020


benefits of ecommerce for small business

Introduction

Are you bashful about turning your traditional business into an e-business? Transform your conventional business into an e-store and ride the current wave of trends ahead of your competitors. Getting into an E-commerce business model is the right step to sustain your business in today’s world. The ease of the web development process and abundance of web development companies have made e-commerce websites affordable for all businesses irrespective of its size. The transformation of your business from offline to online might seem as challenging for you. But through proper guidance and with the right e-commerce development company, the transformation of your conventional business to the online platform becomes effortless.

Statistics says that by the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. By the year 2040, as much as 95% of shopping will be facilitated by eCommerce.
Allow us to take you through the advantages and benefits that you can reap from having an online store. Let’s discuss deeper into the benefits of ecommerce for small business.

What do you get from this article?

  • The benefits of turning your physical store into E-store
  • Importance of having an E-commerce website for your small business

Benefits of having an ecommerce website

E-commerce websites have surplus benefits to shoppers. The main advantage of online shopping is the ease of use feature, that it comes pre-built with for searching, comparison, shortlisting, and payment. E-commerce steers clear of all the hassles that come with traditional shopping such as commuting, finding a parking spot, confronting crowds, and more.

Advantages of ecommerce website

As per the statistics, about 1.8 billion people across the world purchase goods online & nearly half of the population prefer to shop online rather than from a direct store to get an ultimate shopping experience. From a consumer perspective, the above-mentioned, benefits of ecommerce for small business are considered advantageous and that is exactly why you must opt for an E-commerce solution for your business.

Heightened revenue

No matter how popular your stores are, it always has a  restriction governed by its geographical placement. Whereas in an Online store, the sky is your limit to create a  customer base as there are no limits to when customers can shop, and from where they can shop. Unlike a physical store, e-stores are open 24*7/365, which alone increases sales and boost your revenue. Clearly, this shows the importance of E-commerce for your business, and how it helps small business owners to reach another level of growth.

Prominent Customer Acquisition

An E-commerce website is where your loyal customers land up to make their purchase for their requirements and needs. Also, it’s where you gain their trust with excellent customer service. Hence an E-store is reliant on branding and customer relationship.

One of the best ways to acquire your target audience is, by developing your website with pages that can be indexed by search engine crawlers. Search engines drive a huge amount of traffic to your store, which increases conversions. But only Logical SEO efforts ensure the conversion of visitors into leads.

Low functionality cost

One of the enticing benefits of ecommerce for small business owners is that the overall cost of running an online store is way less compared to running a physical store. But how?

For a physical store, finding the right commercial space within a business buzzing area is hard and builds up the cost. Business owners have to spend a huge amount of money on business premises, which is fundamental and unavoidable when it comes to a physical store. On the contrary, the online store doesn’t need any location, all you need is a trustable E-commerce web development company to accomplish your store online, it doesn’t take up the cost as high as a physical store. Also, the investment on the website creation can be easily compensated from the profit of selling, in a short period.

The overall process of E-commerce including inventory handling, shipping, and payments have been automated. This greatly reduces the amount of management required to run a small scale business.

Cost-effective advertisement

Advertising and marketing is a vital factor for any kind of business. If people don’t recognize your brand, then the effort and the investment behind your business will be worthless even if you have quality products and services to serve.

Earlier, marketing was defined differently. People had to approach newspaper ads or TV to market their brand, which costs more,  but now the internet has changed the very definition of marketing by providing multiple ways for reaching your customer and establishing your business across the world with almost 100 percent accuracy.

Access to social media channels at everyone’s fingertips makes the way of promoting much easier. Posting your business on popular sites like LinkedIn, Twitter, Facebook, and Instagram are helps to spread your business and speed up sales quickly. Social media is a powerful platform where you reach your potential customers and create awareness about your brand. Once you get such customers, you don’t have to do anything in marketing beyond providing quality products and services.

Larger Marketing ROI

With an online store, business owners are not solely dependent on local customers. Their horizon opens up to bring in domestic as well as international customers by advertising their products and services.

Marketing ROI is associated with profit and revenue growth to the impact of marketing initiatives. By calculating the market ROI, companies can measure the level to which marketing efforts contribute to revenue growth.

Ease of buy and sell

The complete process of E-commerce sounds a lot easier. It’s easier for you to sell and much easier for your customers to buy. This simplicity makes your customers look for products online. Also, you can rapidly track the status of your inventory to find where the product is and when it will reach your customer. Additionally, you can also track the products that run out of stock from your inventory even before it happens.

Customer Reviews

Customer reviews have the power to build credibility and trust for your brand. Positive reviews will sure show a significant surge in sales. As per the statistics, 76% of consumers believe in online reviews as much as personal recommendations to make final purchase decisions. But, in the physical shop, it’s hard to get customers’ feedback whereas, in an online store it’s much more comfortable and hassle-free.

Customer purchase Analytics

Analytics plays a major role in managing demand and developing a marketing strategy to do smart business. With the help of analytics, you can understand, the current shopping trends and know what is exactly in demand at any given point of time. This information can help you determine what kind of offers motivates the customers to buy. So analytics helps you to meet the customers’ needs precisely.

Google Analytics is by far the best choice to analyze in-depth detail about the visitors to your site. The insights provided by Google are considered more valuable and helps to structure your business more effectively.

Final Thoughts

As far as our team at Spidergems is concerned, an E-commerce website is an essential requirement for today’s business environment as it would save time, money, and effort. It would also help your business have an edge among your competitors, improvise sales, boost revenue, and enhance customer relationships in an effortless manner. Experts have realized, making your business presence online is a good strategy for better growth.

To sum up, building your online store is more beneficial in monetary terms for small and medium-sized business owners and does wonders for your business in a short time. If your business is not a part of E-commerce yet, and not aware of the benefits of ecommerce for small business, reach us at Spidergems. Our vision is to deliver tailored e-commerce solutions for our client’s requirements and assist in their business growth.

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