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Increase your business sales online!
The Internet has changed the world in almost every possible way, and e-commerce has revolutionised how business is done through shopping and selling online. However, many small businesses, even knowing this, still haven’t realised just how large a growth spurt they can see by selling their goods and services online through e-commerce. While there are certain groups of people that are more Internet active than others, everyone is online these days. By selling online, you open your shop up to a huge market of people from all walks of life.
The Internet is the biggest market of shoppers in history. By connecting with this incredible marketplace, you can grow sales and your customer base to a far greater degree than if you only exist offline. Once your e-commerce is enabled you can sell well beyond the borders of your usual consumer base.
Here are some ways in which e-commerce helps with business reach:
- Cost savings
An e-commerce store requires complete automation of the purchasing process, undertaking check-out, invoicing, and payment processing, thus reducing the need for additional staff to manage these aspects of the business.
Online e-commerce also offers relatively low-cost engagement with existing customers and promotes the business to countless potential new customers. SMEs can save on the often-prohibitive costs of traditional advertising and marketing activities.
- Information at your fingertips
The information generated through online sales provides businesses an easy way to evaluate the effectiveness of any sales campaign, measure the success of marketing campaigns and of other customer engagement initiatives.
Detailed information is at the fingertips of existing and potential customers. You can provide easy access to in-depth information about every product you sell in your online store, which can be a great tool to help attract and retain customers. Analysis of data helps businesses understand the spending patterns of customers to better meet customer needs and offer them suitable products every time they visit the online store.
- Global reach
E-commerce provides an opportunity to break free of the limitations that physical outlets impose, enabling small businesses to sell their items of inventory stock to the world. E-commerce can expand small businesses networks across geographical borders to reach a greater number of countries. Consumers research products online to gather information and compare the many options available. Search engine optimisation can therefore be used effectively to boost small and medium-sized enterprises’ visibility to potential customers across the globe.
- Low barriers to trade
E-commerce has also helped to break down barriers by providing a way for developing countries, young entrepreneurs, rural workers, and women to participate in international trade.
With the advancement in Internet technologies, an online presence can be set up at a fraction of the cost of a physical store. This allows start-ups and small and medium-sized enterprises to set up online with a minimal investment in e-commerce solutions.
Automating as many administrative tasks as possible is key to improving your cash flow and e-commerce by nature is an automated shopping experience that can help generate a flow of short-term revenue. Because your online store doesn’t sleep, customers can shop from anywhere at any time, at their own convenience. Money that may have previously been invested in a physical store can now be used in other areas of the business.
For small and medium-sized enterprises to succeed online, they need to ensure the ability of the business to flow easily throughout the entire e-commerce chain. This means more than just establishing a business online. In addition, small and medium-sized enterprises need to determine how they will manage after-sales services.
Ultimately, the test for an SME in e-commerce is the ability of the business to deliver quality products, quickly and efficiently to anywhere their customers are, across the globe.
MAKETE is Fiji’s first private sector multi-vendor platform built from the ground up for micro and small enterprises. The sole intent of MAKETE is to provide an inexpensive avenue for the community to sell goods and services online.
Contact us at [email protected] to find out more on how to get your online store on MAKETE.
“My vision is to build an e-commerce ecosystem that allows consumers and businesses to do all aspects of business online”. – Jack Ma