How an Ecommerce Store Can Generate Sales and Improve Your Business Model

Created: July 24th 2020 By: Clover Imaging

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The way consumers are shopping is constantly in flux, so savvy businesses are always looking for ways to stay current with the latest trends in shopping behavior.

In the past, shoppers would comparison-shop with mobile sites and apps, and use social media to discover new and compelling brands, aiding their search for the most advantageous customer experience with innovative digital technologies.

Now, with the recent lockdowns spurred by COVID-19, more shoppers than ever are relying on ecommerce to access the goods and services they need for home and work. In fact, new data shows that ecommerce revenue is up 37%, with a 54% increase in online orders.

However, a recent survey suggested that up to 71% of brand executives feel like they’re playing catch-up rather than leading the way when it comes to ecommerce selling, with only 11% having functional goals regarding ecommerce in place.

That’s unfortunate, since ecommerce offers many advantages for the progressive business looking to capitalize on this area of hypergrowth.

Advantages of Deploying a Solid Ecommerce Strategy

Now is the perfect time to begin developing — and implementing — a series of ecommerce objectives to take advantage of the incredible continued growth in online shopping.

  1. Low Cost Deployment

Ecommerce stores can be created and opened with as little as a $2500 investment.

Many marketplaces are free to access, and simply require a small fee for each item sold. Other ecommerce techniques, like drop-shipping, can reduce the up-front cost of inventory and reduce on-site storage costs.

Marketing can be accomplished cost-effectively through low-cost platforms like social media and content marketing.

  1. Fast Time to Market

While traditional retail takes a huge investment of both time and money to get started, an ecommerce store can be up and running quickly by using done-for-you ecommerce platforms such as BigCommerce or Shopify or selling in an open marketplace like Amazon.

You can also have in-house IT develop a simple website or contract with marketing experts with industry-specific knowledge to have a workable ecommerce site tailor-made for the products you sell.

  1. Insights from Customer Data

Online selling gives you easy access to first-hand customer data as you track customer interactions.

Tracking online interactions can provide actionable insights to customer behavior, assisting you in improving the customer experience, developing products or services to solve pain points, and deploying marketing that is more relevant to your customer base.

Fine-tuning your sales process based on these insights will promote effective marketing, better sales, and increased profitability.

  1. Better — and more Targeted — Reach

Online channels don’t limit your audience to only those who can physically reach your brick-and-mortar location.

Instead, you’ll be able to expand your reach geographically and demographically through the use of online touchpoints that appeal to various target buyers.

  1. Ability to Leverage Content Marketing

It’s important to position your company as the authority on the products and services you offer. With an ecommerce site, you can leverage one of the most powerful authority-building marketing strategies available — content marketing.

By providing impactful information such as product comparisons, in-depth descriptions, how-to articles, and more, you can position yourself as a credible authority in your industry.

Giving customers the information they need to make a purchasing decision can help steer them toward your offerings, both on- and offline.

  1. Access to Customers When They’re Ready to Buy

Ecommerce gives you the distinct advantage of making your products/services available at the exact moment the customer is ready to make a purchase.

Customers tend to do online research when making product-buying decisions. Having an online platform that not only gives them the authoritative content they need to make a decision, but offers the right product for their needs, gives you a definitive competitive edge.

Expand Your Leads and Generate Revenue with Ecommerce

Ecommerce sites provide today’s smart businesses with a great way to improve your customers’ experience, generate new leads, reach new markets, and improve profitability with very little investment.

With the ecommerce market continuing to expand, there’s no reason not to get started now planning ecommerce strategies to tap into this growing resource for market expansion.

By rounding out your business model with options for both brick-and-mortar and online purchases, you’ll increase market penetration and build a better — and more profitable — business model.

When you’re ready to access all the power — and revenue — the world of ecommerce selling offers, contact the industry experts at Clover Imaging to get solid advice and guidance on adding this feature to your revenue stream.

Author: Clover Imaging

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