E-commerce is creating a new way of doing business for many companies. This marketing channel is connecting businesses to customers, suppliers and producers via the internet resulting in companies with new business models that are turning traditional companies on their heads. Companies that ignore e-commerce will become less and less relevant as cheaper internet access becomes available across the globe and more customers become comfortable with buying on-line. Already, companies in Europe are experiencing exponential growth in online business as more people prefer to shop on-line.
The internet is being used to buy everything from cars to groceries, to clothing, to computers, to books, to art. The internet allows customers from across the globe to see , design, order and pay for goods anywhere in the world while realtime banking transactions mean that customers can pay for commodities and expect delivery of products without the hassle of physically going out to shop. In many countries, the mundane tasks of grocery shopping have been substituted by a few minutes on the Web.
Benefits of selling on the Web
- Opportunity to increase revenue.
Websites provide an opportunity to launch new sales channels as website audiences become a key source of revenue for many companies.
- Ability to expand into global markets
There are millions of potential customers on the internet. Traditional advertising and promotion is extremely complex and expensive for cash strapped businesses wanting to expand globally and the internet provides a marketing opportunity with immense potential.
- Websites are open 24/7
The internet never sleeps. Therefore your site is open for viewing all the time. With purchasing applications and software, customers across the globe can select, and pay for goods while you sleep.
- Social media increases interaction.
The Web offers the opportunity to interact with customers and the community on a one to one basis. Linking social media pages to your website increases the potential for engagement.
- The power to educate.
Customers are no longer just buying products and services, from anywhere, but are actively seeking information about alternatives before making purchases. The internet allows you to inform, show, demonstrate, explain and talk to your customers about your products and services.
- The ability to lower the cost of doing business.
Properly promoted, a website can reduce the cost of doing business by reducing your acquisition costs.
- The ability to spot new business opportunities and to capitalize on them.
E-commerce allows your company to serve increasingly fickle and choosy customers. People want more time to do the things that they enjoy and buying or transacting over the internet frees them to do this.
- The ability to grow faster.
Research in the USA shows that companies that effectively use the internet to promote their businesses, products and services grow faster and have more exposure.
- The power to track sales results.
The Web gives companies the ability to track the activities that are happening on their sites, including clicks, and purchases.
E-commerce is the now and future of retail and services marketing and selling as more companies realise the benefits of the web in reaching local and global customers. Even in countries where use of the internet is still limited by technological challenges, a journey of a thousand miles is begun by taking a step. Reaching out to those customers that do have internet access and creating innovative online experiences will endear your company to your customers. Take a step into the World Wide Web, you never know where it will take you.