Why Set Up An E-Commerce Platform For Your Small Business?

Why Set Up An E-Commerce Platform For Your Small Business?

Anuja Lath 02/06/2022
Why Set Up An E-Commerce Platform For Your Small Business?

E-commerce provides businesses major opportunities, from broadening the range of products to generating more sales.

By the year 2040, 95% of all purchases will be through e-commerce platforms.

On average, more than 85% of people who are online, shop for products through the internet. So, you cannot deny the fact that buyers are getting more internet-dependent. Especially in times of the pandemic, consumer behavior has shown a strong shift towards shopping online. If you are a small business owner, it is the right time for you to know the benefits and effects of an eCommerce platform.

For a small business owner who is not internet savvy, moving to an online platform from conventional offline business can be a little challenging. However, with the help of eCommerce platform experts, the process becomes easier.

In this article, you will get to know the top five benefits of opening e-commerce for small businesses.

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1. Online Reputation Building

75% of online businesses say online comments or reviews boost their reputational and financial status. The reviews are available for everyone and attract new customers with higher conversion rates. With online eCommerce platforms, your customers can share reviews and feedback on your social media profiles. To enhance your brand awareness, you can also start your business page on social handles, such as Instagram, Facebook, etc.

2. Flexible Timings & Reviews

Another benefit of running an e-commerce for business is to stay operational 24x7 which is not feasible for an offline store. Therefore, by online presence, you can get orders any time & no opportunity will slip away from you.

The “word of mouth” methods can help any business go viral overnight. However, in the case of brick and mortar stores, it is quite tough to gain customer reviews. Whereas, business is hassle-free and comfortable online! You can ask your clients to post a review & establish credibility by posting them on all social media platforms & other selling channels.

3. Increased Business Reach & Revenue

E-commerce for small businesses will widen your reach and your customer base will increase. This directly links to the number of sales and profits. You can also do investments in affiliate marketing. Moreover, with a high business reach, you can also grow trust and drive more traffic with advertising. For example, offering discounts on similar products can increase the upselling because customers tend to buy combinations of items put on deals.

4. Low Operational Cost

The operational cost of an online business is low as there is no need for physical outlets in all the areas you wish to sell services/products. With an online business platform, more is the customer access & less is the operational cost. Electronic selling eliminates human errors that run unchecked with man-made transactions. E-commerce helps your employees to focus on profit-making activities.

The money received from eCommerce transactions pays for the product, shipping software, and distribution, etc. The cost of maintaining storefront, displays, maintenance, and repairs is zero with an online business. Hence, the overall maintenance cost of a virtual store is far less than that of a brick and mortar store.

5. Automated Product Delivery Solutions

Efficient product delivery is another important factor for an online business. By connecting to any shipping platform or e-commerce logistics, you need to ensure your product reaches the customer safely. Using e-commerce automation, the right data flows systematically and you can keep promises with the clients. You will be able to provide services like 2 to 3 day shipping & on-time delivery.

E-commerce businesses also allow you to track products from inventory to the customer’s location. You can simply check & manage the inventory while you hand it to the fulfillment company. By clicking on the shopping cart, the customer gains easy access to track their order. Similarly, you can track your inventory and can restock the products accordingly.

Conclusion: Is eCommerce Platform for Small Business Useful?

The benefits of e-commerce business are manifold. An online presence can save a lot of energy and time. Additionally, you can sell services and products to a large audience anywhere in the world with a single click. Comparatively, it costs less than other offline platforms. By reducing the operational damages & increasing the rate of sales by better reach, an e-commerce platform can be magical for your small business!

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Anuja Lath

Digital Marketing Expert

Anuja is the Co-founder and CEO of RedAlkemi Online Pvt. Ltd., a digital marketing agency helping clients with their end to end online presence. Anuja has 30 years of work experience as a successful entrepreneur and has co-founded several ventures since 1986. She and her team are passionate about helping SMEs achieve measurable online success for their business. Anuja holds a Bachelors degree in Advertising from the Government College of Fine Arts, Chandigarh, India.

 

   

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