Electronic Commerce, “eCommerce” or E-commerce (for shorthand purposes), is a true agent of change for organizations, both small and large. Whether you sell products or services, today’s electronic consumption opens up a whole new array of possibilities and allows you to generate a new ideology for your company.
New opportunities for everyone
Among the many advantages of electronic commerce, is the possibility of finding new marketing opportunities, even for small businesses, allowing everyone to participate in a global economic dimension.
In fact, speaking of finances, the international firm Deloitte, cited in a 2018-2019 report of the TradeGecko platform, stated that “e-commerce sales will reach a total of $ 4.5 trillion dollars by the year 2021”.
With this huge number in sight, brands have now the possibility of building new consumer channels for their customers, eventually resulting in an increase in profits and, of course, a continuous fidelity of the consumer audience.
The advantages of eCommerce for your business
Although the high expectations could be reason enough to raise your company to the world of electronic commerce and look for a niche market, there are some specific advantages for which it is important to venture into e-commerce – yes, always considering that there will be some challenges to achieve it. In any case, here we show you some advantages of eCommerce for your business, one by one.
Your sales can be benefited by the new “word of mouth”
Have you decided to stay in a hotel or hostel particularly by the recommendations of other users? Have you decided on a pair of sports shoes mainly for their average rating on an online shopping platform? Perhaps your answer is yes; In fact, this may also be the response of thousands of other users in the world.
Based on that point, I must tell you that being present with a web site enabled with an e-commerce system, or through a marketplace like Amazon, is quite convenient; the user’s purchase is only a click away, and often than not, this click is the product of a quick impulse or a conscious decision-making, but in both cases it can be affected by a digital word of mouth, in where the ratings and opinions of other users end up playing a crucial role in the act of consumption.
Regardless of whether it is one or the other, the important thing is to be present, with the possibility of offering our product or service to that person who is looking for it. Believe it because if you don’t, someone else will.
Take longer steps towards operational excellence
Good inventory management is critical to the success of e-commerce in your business. Adapting to this point is something that costs the most to any organization, even though in the long run it generates numerous benefits.
The above includes visible improvements in productivity, efficiency and internal performance; In addition to this, eventually the improvements of an internal nature lead the company to be more competitive in the market and, therefore, to have the ability to monopolize a greater volume of market share.
You should really consider this as a critical point, to implement no matter what, especially if the size of your company is not yet very large; It might surprise you to know that the bigger the company is, the harder it is to get hold of technology for e-commerce management – in fact, according to a 2017 study by Eicker & Cilliers, half of the companies valued at more than US $ 5 million prefer to use Excel sheets or Google rather than an efficient inventory management system for e-commerce.
Your presence in social networks is strengthened
Finally, I must mention this point. What eventually results in a purchase will be the first step towards a satisfactory brand experience, and that is only one more step towards growth and loyalty of the audience in social networks (part of the main channels for the brand promotion nowadays).
Many small businesses that are set up in electronic commerce see positive results in their social networks presence (of course, as long as the experience is satisfactory), which allows content and advertising efforts to be much more intelligent and effective.
Thus, your company can enjoy this benefit as well, just think about the possibilities! – Even though Facebook remains as a good channel, depending on your line of business, you should also consider the presence in other networks (with direct customer service channels), such as Instagram, Pinterest or Twitter.