Studies show the world of e-commerce is now valued at $4.13 trillion. It's a staggering number and shows the ever-changing nature of consumer behavior across a wide array of industries.
You must be asking, who am I and why is my opinion important?
My name is Ryan Berkness and I'm the founder of PERC, a reputable digital marketing company with years of experience in building some of the world's finest ADA-compliant e-commerce websites. When it comes to creating a robust digital footprint and selling online, we know how to do it well.
Keeping this in mind, it's time to look at why setting up an e-commerce site is advantageous. Here are the top 10 reasons e-commerce is not only the present but the future of retail too.
Reasons to Build an E-Commerce Site
Reason #1: Wider Market
The average consumer wants things to be simpler, faster, and cheaper.
With the help of a robust e-commerce website, it's possible to expand your reach in the market. Whether you are running a local, national, or international business, it's important to expand your target audience by presenting a secondary option (i.e. online shopping).
Why lose customers that are not near your physical shop? You don't have to anymore!
Put up a high-value e-commerce site and watch as new customers hop onto your website each day. It can become a powerful tool to increase your bottom line quickly.
Reason #2: 24/7 Sales
Most businesses are going to work within specific hours, but what if you could sell throughout the night? It's possible to do so with a well-designed e-commerce site.
You don't have to worry about wasting energy, paying additional labor, or dealing with wear and tear. Instead, you just keep the website running and it's going to draw in customers at all hours of the day.
By having an e-commerce website, you maintain a constant drip of sales while giving customers another option to interact with your business. It's a win-win!
Reason #3: Helps Nab Search Audience
Research has shown approximately 80% of all customers are using Google/Bing before making a purchase. This figure illustrates the power of search traffic when it comes to buyer-intent decisions.
Why lose out on this traffic? Why not tap into this segment of your niche and increase your profits?
It's a no-brainer and the only way to do this is with a clean e-commerce site. You want to make sure all search traffic coming to your website goes through the digital sales funnel and converts into a sale. This can be done with a qualified digital marketing agency designing your website.
Reason #4: Increased Conversion Rate
It's wonderful to see a new burst of leads, but what does it all lead to?
E-commerce sites are wonderful because those leads convert into sales. People go through a well-designed e-commerce site, follow the various call-to-actions, and take out their credit card to complete the sale.
The increase in conversions is powerful and will reduce your expenses. Even a 10-15% increase can be a massive difference-maker and will push your business to the next level.
Plus, I have seen businesses continue with an upward trajectory for years on end. More customers shop online with their smartphones, tablets, and/or laptops making it essential to have an online presence.
Reason #5: Improved ROI
Your ROI or return on investment is critical in the long-term.
If you are building a business, you want to make money. It always comes back to that right? Well, an e-commerce site isn't just for show because it's going to bring in new leads and more sales.
I have seen it again and again over the years. Businesses hop online, build a good e-commerce site, and see a tremendous increase in sales. It's almost like opening the tap and seeing water pour out quickly and consistently.
It can be a real game-changer especially during these times with COVID-19 on our minds!
Reason #6: Easy to Integrate Social Assets
E-commerce is the future for several reasons and it has to do with digital integration.
Most customers are going to assume your business is the "real deal" when there are relevant and growing social media accounts attached to the company's name. It's about creating a viable network of digital assets that interlink to each other and keep the customers hooked.
This includes social media accounts, websites, and even an e-mail list or two. You need to keep people within your network and of course, this can also include giving them an option to visit your physical store too!
Reason #7: Reduced Risk
Physical shops are risky and they will cost a pretty penny too!
We have seen a considerable change over the years when it comes to businesses wanting to reduce the risk associated with their business plan.
This includes going online and building a strong e-commerce site. By doing this, you can test the market and see what customers are looking for without having to keep a shop open all the time.
You can continue to bring in new data and learn more about your target audience around the clock. It's a powerful way to save money over the long-term.
Reason #8: Improved Brand Awareness
Look at some of the world's largest companies. It's all about branding.
Whether it's Apple, Microsoft, or Disney, they've all taken the time to integrate the e-commerce experience into their business plan.
It's the way of the future because people start recognizing your brand whenever they're online. This can be through seeing your social media accounts, noticing your e-commerce site pop up in the search results, or clicking a digital ad that came up linking to your website.
Everything helps in gaining traction in your niche and that's what matters.
Reason #9: Complete Personalization
Personalization is a powerful component during the sales process and it should never be underestimated.
Customers want to feel like they are interacting with the business on a personal level. It should feel like they are the center of attention and it's their opinion that matters most.
E-commerce sites allow you to do this with all customers. It's a great way to cut through the nonsense and make sure you optimize the experience based on what the customer wants.
In the end, that's what matters most!
For me, a personalized experience is something that is going to be a great selling point and make a tremendous first impression. This is what you have to aim to do as a business.
Reason #10: Customer-Friendly
Most customers start associating reputation with a company's online presence.
If you don't sell online, they refuse to see you as a "legitimate" business. This is why future-proofing your company is important and the best way to do this is to increase your digital footprint using an e-commerce site.
When you begin to flesh out a full-fledged digital network of assets (i.e. site, social media accounts) that's when people take you seriously.
Even if you are running a world-class business, you need to hop online and grab as much of the market share as possible.
E-commerce is and will continue to be a big part of new-age marketing.
I believe companies must integrate the digital world into their business strategy. It offers a greater return on investment, improved brand awareness, and helps cut through the competition.
At PERC, we are more than happy to help you turn your digital dreams into reality. Reach out to our team to gain access to an experienced set of professionals that can have your website ready in a matter of days!
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