As the world forges onward into the future, less and less sales are taking place over the counter. Instead, the rise of eCommerce has resulted in the shutting of doors and the plastering of ‘All Stock Must Go’ signs around town. If you’re a small business, it’s about time you began thinking about making a move to eCommerce and online sales platforms.
Nowadays, more and more small businesses are turning to eCommerce to boost their business’s longevity, scope, and potential sales. But why is this, and how does a business make the leap?
In this article, we’ll be discussing the benefits of eCommerce for small businesses, as well as the best platforms to use while making the move.
What are the benefits of eCommerce for a small business?
Once you’ve decided to take the plunge into the world of eCommerce, what exactly are the key benefits you can expect to be receiving?
Alongside the additional bonus of never having to encounter difficult customers face-to-face again, there are a plethora of eCommerce benefits you’ll be taking advantage of.
Let’s take a look at three of these:
- Global-scale of operations
- Small Startup fee
- Data collection, analysis, and data-driven marketing
Each of these benefits can make a huge difference to your small business.
PS: if you’re thinking about starting your eCommerce business as a solopreneur, check out this article about the benefits of being a solopreneur! We’ve also talked about how you can be a successful solopreneur here.
Small Business, Global Scale
When you work in one area, the customers you receive are limited by geographical factors. No matter how much someone may love your products, if they’re not in the area to buy them, you won’t be able to make that sale.
We know that for small businesses, every single sale counts. That’s why eCommerce is a fantastic strategy to incorporate if you’re looking to boost your company’s success.
By going online, you boost your customer scope to encompass the whole world. All you’ll need to do is arrange shipping and couriers, and come up with the best ecommerce marketing strategies. All of a sudden, the scope of your customers has expanded from your local area to your whole country. Maybe, even, spanning over multiple continents!
With more customers comes more sales, boosting your profit and ensuring you can last long into the future.
Small Startup Fee
Designing and publishing a website doesn’t have to be a costly affair. In fact, there are really only a few basic steps needed:
- Buy a domain – these can be found for a few dollars a year, especially if your brand name is creative.
- Design the website and host it on an eCommerce platform – put your graphic skills to the test. Alternatively, use a site like Upwork to hire a web designer for you.
- Go live and spread the word – Use social channels like Facebook, Twitter, and Instagram to tell people about your business.
Not only does the process of making and publishing a website not take as long as you’d imagine, but you can also complete the process for a very low upfront cost.
The barrier to entry has really never been lower!
Easy Customer Data Collection
When shopping in person, unless you’re asking an extensive amount of rather personal questions, a person will leave your store without giving your business an ounce of data. That all changes when you move online.
One of the most powerful aspects of having an eCommerce business is the data trail each customer will leave behind. Analyzing your data allows you to turn it into actionable insights, which can help you further improve your business.
What’s more, when you combine data with a data-driven marketing platform like Verfacto, you’ll be able to completely change how you do business.
Instead of making guesses about how to run your business, you’ll have an action plan that is data-backed.
You’ll be able to segment your users and personalize the content they see. Just take a look at 5 examples of data-driven marketing that resulted in impressive eCommerce sales drives.
By leveraging your user data with an intelligent tool like Verfacto, you’ll be able to boost sales, increase your AOV, and begin to raise your customer LTV over time.
Data is often overlooked but is a digital superpower for small businesses using eCommerce.
Where are the best locations to get started with eCommerce as a small business?
If you’re a small business that’s looking to get started with eCommerce, we couldn’t recommend the following two platforms more.
- Shopify
- Etsy
Each of these works wonders, but the right eCommerce base for you will vary depending on what your business sells. Let’s break these services down even further.
Shopify
Shopify has exploded onto the scene in the past few years. From 2017 to 2018 to 2019, Shopify increased their annual revenue by $1.073b, $1.578B, and $2.929B.
Those numbers aren’t something to shy away from. Shopify’s incredible growth is a testament to the power of this tool.
Shopify is commonly used as a platform for dropshipping eCommerce businesses. If you’re looking to start dropshipping, we’ve written a beginners’ guide for you here, and a guide to help you set up a Shopify dropshipping eCommerce.
That said, some of the largest companies in the world are Shopify success stories. Gym Shark and Kylie Cosmetics are just a few of the companies that have shown the true potential of this platform.
If you’re looking to boost your online presence, Shopify is a great place to start. What’s more, Verfacto’s data analysis seamlessly integrates with this program. You’ll be able to get advanced insights into your business with ease, making sure you’re always one step ahead.
Etsy
Etsy is another fantastic platform if you’re looking to take your business online. The majority of Etsy users base their business around the production of a certain craft. Whether that be arts and crafts or full t-shirt designs is up to you!
If you’re a small business that focuses on producing home-made items, then Etsy is a great platform for you. It’s fairly cheap to get started with Etsy, making it an excellent choice for small businesses looking to make the move to eCommerce.
Final Thoughts on using eCommerce as a Small Business
If you want to boost the success of your small business, it’s time to think about making the leap into the world of eCommerce.
Not only will you be boosting the number of customers you can access, but you’ll be receiving a plethora of useful data that can help further your business.
If you’re looking to get the best possible head start with your leap, be sure to check out Verfacto. The currently free plan allows you to receive actionable insights on your data and unlock the power of behavioral targeting.
Good luck with your foray into eCommerce!
