So how can your small business benefit from e-commerce in terms of sales?
There are lot but here are some of the benefits of e-commerce for small businesses to be considered by entrepreneurs:
1. Increased Reach: The most obvious benefit of e-commerce is how it expands your customer base. If you are a small brick and mortar store, you can’t reach an audience beyond your local customers. On the other hand, when you have your e-commerce website, you can reach customers globally.
2. Low Operational Cost: One of the benefits of having an e-commerce store is that you don’t need physical stores at all the locations you want to serve. A single E-store will do that for you. This will keep your business operational cost on the lower side.
3. Increased Revenue: With an E-store, the whole world comes into your reach. Small business owners do not have to solely depend on foot traffic and can sell their products and services across the world. As your business reach widens, your customer base would increase, which will directly impact your number of sales and boost your revenue.
4. Free or Cheaper Promotion: Unlike traditional marketing, online advertisement costs less. The cost of advertising in the newspaper or TV has continued to increase and physical advertising elsewhere can cost thousands. The Internet, on the other hand, provides cost-effective advertisement options.
5. Customer Buying Analytics: In a usual brick & mortar store, it is not possible to track customer buying cycle & behavior. While on the other hand, online stores empower small businesses to to keep an eye on customers’ buying behavior & interests.
6. Timing Flexibility: E-store will remain open for 27*7 for your customers & new orders, which is not feasible in the case of an offline mortar & brick store.
7. Social Recommendation: Majority of consumers who got impressed with your products and services voice their opinions and recommend e-stores to their friends on social media. This is an added advantage for the small businesses who provide better products and services than the big guys but fail to get customers because they are unknown.
Hence, the conclusion is that there are a lot of advantages of an E-store. It saves time, energy & most importantly your money. You can sell your product or service to a huge audience with just a click of the mouse.
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