If you’re wondering, how to start a successful e-commerce business You can stop scrolling now, you’re on the right page. Further, if you’re even more inquisitive, and are pondering do I really need an E-commerce business even though we have a profitable brick and mortar business? Undoubtedly, the answer is a resounding YES + YES!!!!!!! Thanks to the uninvited Covid 19. But in all honestly, we can’t completely blame the pandemic for the uptick of Ecommerce.
It should be noted, the E-commerce business model has been brewing for over 25 years. Notedly, two of our largest companies in the country have been in the online e-commerce space for more than 25 years. In all actuality, E-commerce is no longer a mishap or let’s just wait to see what happens. This online business model is a proven and viable small business strategy. that should be woven into our marketing mix
This article was crafted to help clear the smoke, if any, about the benefits of e-business. Here we’ll outline 9 Advantages or plus points. Keep in mind, there are many advantages of Ecommerce below we’ll outline why adding an E-commerce element to your marketing channel is a Must-Do, Period, … hands down!!! (For most businesses)
“By 2020, brick and mortar retail spaces will be little more than showrooms”
Eddie Machaalani & Mitchell Harper, Co-CEOs of Bigcommerce
Let’s start with a simple definition of eCommerce
What is Ecommerce?
To keep it simple the “E” represents electronic, and Commerce are the goods and services sold. So Ecommerce is the transfer of goods, and services that are brought and sold electronically. It’s trending because of the simplicity and ease of the transitions. Moreover, it makes for a smooth seamless transfer. To emphasize, you can browse and buy from the comfort of your device.
According to research, for the past 10 years, customers have been searching, price comparing, and shopping online. Addedingly they are checking social media networks and reviews before making purchasing decisions. Consequently, as small business owners, our job is to be visible or unfortunately become obsolete.
In view of this, the days of putting up a sign, shaking hands, and smiling are gone. Contrarily, the facts are if you’re not engaging with your customers, they’re engaging with your competitor’s satisfied customers., and that could spell Danger!!!
Thus, if you’re still asking what all this has to do with starting a successful eCommerce business… the answer is “EVERYTHING”. An Ecommerce business gives you an unfair advantage. Clearly, we aren’t saying that brick-and-mortar businesses are dead, no to the contrary. However, to add an eCommerce leg to your business, without doubt, can Future-Proof your business and build brand loyalty, that’s difficult to duplicate otherwise!
“When you say it, it’s marketing. When your customer says it, it’s social proof”
Andy Crestodina, Co-Founder / Strategic Director Orbit Media Studios
- In 2017, the global retail e-commerce market hit $2.3 trillion in sales and is projected to exceed $4.5 trillion in 2021.
- Also in 2017, U.S. shoppers spent a record-breaking $5 billion online on Black Friday.
- More than 12 percent of the 100,000 highest-traffic websites are e-commerce.
Advantages of eCommerce
1. Direct buying process
2. Built-in email list builder
3. Cheaper prices
4. More affordable advertising and marketing
5. Simple setup
6. Easier product expansion
7. Reduce workforce
8. Faster response to buyer/market demands
9. Several payment modes
Direct Buying Decision
Traditionally, firstly, customers had to drive to the destination, walk around the store, look for a salesperson, if it’s a big box store. (Where many of the salespeople may or may not know product knowledge). Secondly, after an hour or so, you discover the product isn’t in stock. Next on to another store, we all know the routine“
Fortunately, today with e-commerce, we can let your fingers do the walking; scroll, scroll, “got it”. Next, you read the description, specs, and choose payment options. Finally, you make a purchase and set up shipping.
Despite how that sounds, the even better news is that the local stores don’t have to miss sales. Seeing that they have the option of adding an e-commerce channel to their marketing mix. Proof of this; many of us have experienced, the salesperson says, “it’s not in stock but we can order it. Addedingly, they can even give you an ETA…WOW has times Changed!
Built-in Email List
Unsurprisingly, we’ve all heard the fortunes are in the follow-up. Along with that, we’ve all heard the stat that for every $1 spent on email marketing $42 is made in return. Guess what you retrieve when your customers order from your website… you guessed it.
They fork over their personal information. In view of that, all you have to do is ask for permission to send future emails. Some will, some won’t. If you haven’t started your email list building yet here’s one suggestion:
With this in mind, securing an email subscriber list is a whole other ball game. It’s too much to discuss here but there are positive plus points, it’s another must-have component to the online marketing arsenal
Unquestionably, it’s sad but true, most small businesses can’t beat out the big box stores on the price point. But what if your customer could order from your website to buy directly from the manufacturer? In this illustration, you’re just the middleman who collects the toll.
That’s one of the many benefits of e-commerce. In this case, the merchandise is ordered and is dropped shipped straight to the customer. Quick story: One black Friday I order curtains from Macy’s, well that’s what I thought. Later I was made aware that the order originated from Kohls. I called Macy’s for a return they directed me to kohls. It’s a new day.
More Affordable Advertising and Marketing Budget
Again, because you’re working online, you’re advertising and marketing budget is cheaper. As a matter of fact, many of the marketing channels are free. Although social media marketing takes time and know-how. But once you get it you Got it. There’s still an advertising cost but not as much as T.V. and radio and another traditional promotion cost. Presently, there’re many less expensive ways to attract your target market.
- Social Media Networks
- SEO-Search Engine Optimization
- Mobile Marketing
- Email Marketing
- Content Marketing
- Video Marketing
- YouTube Marketing
Another driving force behind starting an online business is the simplicity of the setup. Ecommerce sites are an easy option, especially since everything you need is under one umbrella.
Depending on the complexity of your business many times you can be up and running in a few hours. This was proven when the pandemic hit. Granted what would normally take businesses months to complete, some eCommerce stores were up and running in hours.
With this in mind. like the Great Anthony Robbins is known for saying, “human beings will do amazing things when it becomes a “MUST”. Those companies that pivot quickly, increase sales during the pandemic with their newly found additional stream of income.
There are companies such as:
One of the best eCommerce platforms is Shopify. They pride themselves on having a robust platform that comes with complementary tools and features. Shopify has three price options, customer support option, callback, and multiple languages, along with more features and benefits.
If you’re looking for a user-friendly, customizable, drag and drop website then you may want to check out Wix. They also offer multiple price options. Adding, they offer a free basic service, but it’s limited and if you’re planning to grow your business you’ll soon have to upgrade.
Here’s the big daddy of them all. BigCommerce is more complex, but there is more flexibility. An important element is you can sell internationally. Like the others, you can integrate with Facebook, eBay, Amazon, and others.
Easier Product Expansion
E-Commerce stores aren’t confined to selling only what’s in stock. With an online presence, you can sell products from all around the world without housing or paying for inventory. Dropshipping made this process easy. Hence, your customer can order from your online portal and the drop shipper will deliver, just like that!
As an E-Commerce business, the world is your market… WWW (world wide web). Here where SEO done right can extend your reach to buyers from around the globe.
Expanding your business internationally has never been easier. (Consult with your legal team, to dot your (I’s) and cross your (T’s). However, expansion costs a lot less opposed to flying across the world to open a stick and brick.
Reduced Work Force
By adding an online presence to your marketing mix you eliminate having to employ additional in-store help. Yes, you will need SMM assistance, but that’s a must anyway. But there are other alternatives, you can outsource or hire an agency to maintain your SMM.
Moreover, they are plenty of help online, courses and resource, whereas you can learn or assign one of your team members to learn the game. As an example: Google and Facebook have free certificate classes, you can learn how to run free and paid ads and learn social media marketing all at No charge. ( click on the links above).
Faster Response to Buyer
The advantages are continuously coming. While you’re online ordering your desired product or service, this cuts down on the response time. It’s natural for customers to have questions or concerns when ordering. However, they can be addressed with a click of the mouse. Recent research shows that customers prefer websites that have chatbots or live chat, yes your customers want answers and they want them NOW!!!
Customer service is the new gold. This is an invaluable asset. Live chats and bots are running the show. Unbelievably, many of the chatbots don’t require you to learn code and are simple and easy to set up. These chatbots can automatically add leads and generate sales: Learn more here: Chatbot.
Several Payment Modes
Lastly, but very relevant, online spending garner a variety of payment options. Given that, different demographics have different preferred payouts. There is something for everyone. The last thing you want to happen is to have a customer at the end of the buying cycle and you lack their preferred payment choice.
As an example customers 50 and over, prefer PayPal, because they are tried, true, and trusted. 30 -45 use Apple pay or another cash card. The younger generation uses cash apps.
A successful Ecommerce business can help busy small business owners in many ways. Further, small businesses and entrepreneurs who may not be in a position to financially afford traditional expansion find it more affordable to incorporate a website.
To recap: An e-commerce website can:
- Expand internationally without high travel cost
- Offer cheaper prices
- Allows you to build a worldwide business- with no inventory
- Incorporate AI for lead gen and customer service
- Boost profits and efficiency
We hope we answered the question of how to start a successful Ecommerce business. Whether you want to scale your business, stop doing tasks that annoy you, or just want more free time, an eCommerce website is a game-changer. I think you can see how adding an e-commerce website could be key to your success.
Hope this helps you to decide if this is right for your business.
If you’re not using an eCommerce website already, then now is a good time to start!
Do you have an E-commerce success story to share?
Let me know by leaving a quick comment below.
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