4 Reasons Why You Need to Get Onboard with E-commerce
Updated: Aug 4, 2019
1. Lower operating costs
By having an online presence it allows businesses to avoid the runaway costs that are associated with brick and mortar stores. There are no employees to pay the bi-weekly or electric bill that comes knocking monthly. By having a website you can keep those pesky operating costs delayed until you have the capital to move to a physical location.
Web Development can be challenging. However, over the life of your business, it will be a minor investment. Getting a beautiful website and e-commerce play established can be done in under a week with a company such as BrandSwaggin. They can streamline your process while you stick to being a visionary for your brand.
Investment will come. As you find success and build up a client list, take the time to expand. Expanding, and scaling a business is vitally important to maintain relevance. We at BrandSwaggin suggest that businesses scale, however only after they have proved their business model is viable, and have a group of clients.
From Rachel is a Montreal based company that sells women’s apparel, and they started it all on a Word Press site. They are looking to diversify and move their business to Shopify a more costly, but much easier platform to manage online payments.
Thanks to their excellent vision, partners Carolyne Parent, Alyeska Guillaud and Mélanie Heyberger have tripled sales every year and are now looking to enter the U.S. market.
2. Track your customers
The true attractiveness of e-commerce is the ability to track customers via web analytics.
You can track anything from their location to their amount spent per purchase. You can harvest the data of what is selling well, how long customers are staying on each page, and many, many more data sets.
Flytographer is a company that really focuses on web analytics. From their experience, it is the key to their business. As they get more customers they can retarget the same subset of customers that are most likely to shop there based on past sales. It is a powerful targeting strategy that relies on reinvestment.
3. Improve your customer experience
There are more and more people every year that gain access to the Internet in developing nations. The Internet is one of the major secular growth trends of our life time. Use it to your advantage.
An online site allows your loyal customers to assess your platform rain or shine, and during any hour of the night. This is such a powerful tool that too many businesses do not use to their advantage. Don’t be one of them.
Use technology in store, arm your employees with tablets, and Internet assess. Allow them to show off products, and their functions in real time. Some of the biggest companies make their stores a real experience. I am thinking of Apple here, where every store is laden with technology and service assistance with iPads.
Empire Sports has a fantastic e-commerce site, and they have grown to 15 stores from just a Word Press site. By harnessing the powers of reinvestment and starting small, they were able to use the power of the web to unlock value.
“There is a fair number of customers who will buy a snowboard online without touching it with their hands, but others won’t do that,” Empire President Philippe Grisé says. “A lot of them want to come in-store to get technical information from competent staff and also touch and compare the product to other brands and models.”
4. Expand your reach
E-Commerce is the key to reaching a global market. Don’t hurt your business by only focusing on one market. By having the biggest possible reach it allows you to test different markets simultaneously, and see what products to best in different environments. The results just might surprise you.
“The 7 Virtues” is a Halifax company that makes “peace perfumes” derived from oils that have been sourced from developing nations including Afghanistan, Haiti and Rwanda.
These fragrances are sold all over the world and it is all from a Word press platform. By focusing on small and building success, it allowed them to expand to international markets. See the excerpt from their President below.
“Our online store really complements our bricks-and-mortar presence,” Stegemann says. “You really need to go into the store to figure out what your signature scent is. Then, once you know and you want to replenish, online is the perfect way to save time.”
“It also works the other way. We post articles and have a magazine featuring female role models and when people go online and read these insightful articles on our site, it makes them curious and they visit the stores.”
Tips for e-commerce success
1. Start small
As a very small business it is essential that you avoid high upfront costs. Be picky with what you invest in during your first months. Many good business concepts never get off the ground because of funding issues. Be frugal in the beginning, prove your concept, and then let the success snowball via reinvestment.
2. Test, learn, improve
Nothing is going to be perfect, persistence pays off. Use technology to test, improve, and perfect business ideas before launching them for real.
3. Be attractive
Keep things simple, and be brilliant. The best marketing campaigns in the world have come from simple, attractive, and inspirational designs. Think Apple under Jobs. Be attentive to details, write clear product descriptions, place only the essential pictures, and don’t overload on products, keep it small yet effective.