Do you run a business and you are thinking about how to enlarge it globally? look no more, this article will give you more understanding of the benefits of e-commerce to your business.
First, what is e-commerce?
E-commerce is also known as electronic commerce or internet commerce, which refers to the buying and selling of goods and services using the internet.
It can also be described as any type of commercial transaction that is carried out through the internet.
E-commerce refers especially to the transaction of goods and services.
There are also 4 types of e-commerce, which are;
- Business to consumer (B2C) which means when a business sells goods or services to an individual consumer.
- Business to business (B2B)which means when a business sells goods or services to another business.
- Consumer to consumer (C2C) which means when a consumer sells a good or service to another consumer.
- Consumer to business (C2B) when a consumer sells their own products or services to a business owner or an organization.
E-commerce has varieties of form, which include:
The selling of products by a business owner to a consumer directly without any middleman.
The selling of products in a large proportion to a retailer that sells them directly to the final consumer.
The selling of products, which is manufactured and shipped to the consumer by a third party.
The automatic recurs of products or service purchase on a regular basis until the subscriber chooses to cancel it.
v. Physical Products
Any physical that requires inventory to be replenished and orders to be physically shipped to customers as sales are being made.
vi. Digital Products
Downloadable digital goods, images, templates or media that must be purchased for personal use or licensed use.
The action of helping someone in exchange for compensation,
Here are the points to know more and understand the benefits of e-commerce to business owners in Nigeria. http://www.desdia.org
- Overcome Geographical Limitations
If you have a physical shop, you’re limited by the geographical area that you’re, which means not everyone will have access to your products, which limit the number of consumers from you.
But with an e-commerce website, the whole world is at your palm.
- You Gain New Customers
Physical store is identified by branding and relationships.
But it won’t drive more consumer to you, however, if your business is online, you’re gaining additional customer and exposing your products to people all over the world.
- Lower Cost
E-commerce will lower your cost on a lot of things, like rent, paying staffs and all.
The only cost incurred is your data, so you can have access to the internet or if you want to hire a marketing specialist, if you are looking for people to run your customer services.
- Sales On Advertising
When you advertise digitally, its actually inexpensive compared to the traditional methods, the likes of your billboards, television, radio and so on.
But digital advertising can be more adjusted to fit your budget and save a lot of money through the media e.g Facebook, Instagram, Twitter, email etc. https://www.theenterprisemind.com.ng/blog
- Better Targeting
Digital marketing helps you target and know who your audience is.
By gathering customer information and data, you can able to gather your customer information and also track their buying habit.
So, you see that e-commerce allow you to do all these without any stress.
- Easy Growth
One of the key benefits of running a business online is that you can easily optimize your budget.
For example, you can run Facebook ads, Instagram ads as well as google ads at your own convenience, by doing these, you are creating awareness for your products or brands which indirectly is growth.
- Its Makes The Product Easy To Locate
With E-commerce, customers can quickly locate the specific products they want to purchase without any hindrance.
By making use of the search box on your eCommerce website, it makes it easier for customers to come back and shop more.
- It Eradicate Travel Time And Cost
If a customer or consumer is to go to a physical store to purchase a product, it takes time, but on e-commerce, all you have to do is to visit the website, click on what you want to buy, pay and get what you paid for.
Easy right? Yes.
- It Also Provides More Information
There is a limit to the information you can get in a physical store.
E-commerce can make extra information and put it across their products for consumers to see without having to call or ask anyone.
Most information is provided by vendors and it doesn’t cost anything to create.
- It’s Always Open
There is no time barrier on E-commerce websites, Unlike a physical store that does have closing and opening time.
It’s open 24/7, which makes it convenient for customers to shop without any fear of anything.
You shop at your own convenience.
- Massive Earnings
With the “Always Open” option e-commerce website are gaining more.
This also boosts your revenue and it won’t affect your sales because you’re always open for business.
Things to note, you have to bear in mind of investing in professional web developer/ designer to help you create a solid website that will be sustainable and secure over a long period of time.
So, I’m sure you know the benefits of e-commerce to your business now.http://www.bizmarrow.com
In a general sense, its easy, low risk and low cost to start an eCommerce business.
Apparently, the e-commerce business is not for everyone, but you have to take these steps to enjoy the benefits of eCommerce to your business or it might not be the right time for you to start. But its important to consider it if you have a business.