Consumers love it because they can shop whenever or wherever they want, as long as they have internet access.
E-commerce has changed the way we do business - and not for the better.
People spend less time shopping (and in stores) than ever before.
That means that people are buying more things online, which in turn means that businesses need to have an online presence.
But with all of the technology now available, how does one go about establishing an ecommerce company?
Here are some helpful tips for beginners.
You must first answer the question “why someone would buy from you”. For consumers, this question usually comes down to price.
If you are offering a discount, you should provide them with a reason why they should purchase from you.
A good example is sales. If your store offers products at half off, then you should explain what the product contains and why it matters.
For businesses, cost may be tied to their distribution channel.
They may agree to deal only if they can deliver orders straight to consumer doorsills.
This eliminates any freight costs while giving buyers right of first offer.
It’s no secret that technology is advancing at an alarming rate, but what if I told you that there are examples of how fast it can get even faster? In fact, some experts predict that we could see the ability to pay for things using only our phones within the next five years.
What would this look like? Let’s take a peek at one company called Level Money.
They created a product that allows users to make money by completing small tasks. You don’t have to work as hard as you do on Facebook or Instagram – these are real jobs, with hours and responsibilities.
By having various products offered, your workload helps customers gain trust in you and your brand. Once they build confidence in you, they will start relying on you to earn credit so they can use those products.
And did you know that 43% of people say that buying items online makes them feel more successful? Well, it does! That’s why entrepreneurs begin businesses in order to offer their services and products in a digital platform.
It provides easier access to consumers and helps them achieve their goals quicker. Does this sound familiar? It should because it's something we've been talking about for the past few months.
Here are all the ways business has changed since ecommerce took off:
More workers are becoming unemployed due to advances in technology. Is adding app features to your marketing strategy enough to help your business grow? Or will you need to hire more employees?
Whatever you choose, keep working out your budget; before you go after bigger expenses.
Keep investing in your staff and new technologies because you never know when things may change again. People love the convenience of being able to buy whatever they want from any screen anywhere.------
People love doing business with each other
It’s built into our society – we share resources, skills, time, effort and money. P2P transaction models work well for small purchases without a significant investment (e.g., buying music or video games).
The growth of these model over the past few years has been tremendous.
And why? It is entirely due to the increase in smartphone usage.
More and more people are downloading app store platforms like iOS and Android so they can connect and do business with others online.
These P2P network apps offer users an easy way to buy goods and services using their phones.
By cutting out the middle man (the internet service provider), consumers benefit by getting lower prices than they would otherwise.
Moreover, since many P2P networks operate at night, choosing this option allows companies to get away from the hustle of dealing with debt collectors after hours.
One of the biggest changes in ecommerce is the way buyers feel about their shopping experiences. Once, buying anything online was easy when you had to do it all alone. You would find information, then place your order, then wait for it to arrive.
But that’s no longer enough! Today, customers want to know who they can trust when they buy something online. More and more companies are taking the risk of being reviewed by other businesses instead of selling their products directly.
This change in mentality is growing people’s confidence in online purchasing and helping them feel better about their money choices. Many consumers are realizing that there are some things not worth paying extra for, like customization or fast delivery. And many are discovering brands and services that match their own values.
More and more retailers are offering their products online. They know that many people prefer this way of shopping. However, some businesses still choose to offer their products in brick-and-mortar locations.
This is because they want to have a personal connection before buying products. With physical stores, customers can also look around and find something that catches their eye. There’s no good explanation for why someone would buy something if they didn’t really want it.
With mobile apps, shoppers can grab one product while inside a store and quickly compare prices at multiple vendors from outside the retail environment.
Shoppers don’t feel comfortable making purchases without looking at the details of the price or the brand name. Even if there’s a small difference between two different websites, they try to make a choice and then research which option is better. Before investing time and money in marketing or sales campaigns, they will check out each website carefully to see what options are available.
More and more people are turning to online review platforms like Yelp, Google Reviews, TripAdvisor, and Facebook to read about customer experiences with businesses. According to one study, 50% of customers today will leave a business if their experience is negative, so keeping customers happy has become a priority for most businesses.
Social media reviews can help keep your business top-of-mind for potential customers. People reading these reviews may also be able to provide an insight into your brand through comments and feedback.
Business owners need to pay attention to what others say about their products and services and work hard to maintain a good reputation. Failure to satisfy your customers or address their concerns will only turn them away eventually.
By having a strong presence in each platform, you can make sure that all your customers know who you are and what you stand for. You can find ways to increase traffic to your website and promote new initiatives.
Set up mechanisms to take care of any complaints that come along and demonstrate your concern for other peoples’ opinions. Deal with issues as quickly as possible when they arise and avoid letting things fester.
Keep yourself forward looking and focus on how to improve your business. Stay aware of what types of stories have been out there and show readers something different from your normal content.
Technology is always changing, and the same can be said for the way in which people interact with each other. Facebook has become one of the most used websites in history, and if you have a business page, then it’s likely that your customers are going to find ways to connect with you outside of visiting your website.
You may already do something like offering coupons or special offers when people buy from you. Or you may want to offer help through social media platforms such as twitter or facebook.
These ways of interacting beyond shopping are called ‘experience economy’ concepts. The idea is that by having these interactions, you will gain trust from your users and they will feel more comfortable doing business with you.
Merchants utilizing experience economies strategies also realize that this type of strategy is very cost effective. You may only need to make a few budget changes to run an experience economy strategy; yet another reason it should be part of your ecommerce software.
Consumers today have more purchasing power than ever before. They can compare prices, product details, customer reviews and other information about products before they make their purchases.
This ability to research products down to the last detail is increasingly being asked of customers by businesses. To keep up with this demand, companies must adapt their practices and processes for efficiency.
Technology like computerized ordering systems, online search tools and virtual shopping carts are all ways that business seek to help customers find what they want and get it quickly.
Businesses also use technology to collect and analyze data so they can improve services and sales. Data helps managers know where improvements need to be made and gives them insights into how things work in terms of marketing, production, retail, etc.
More recently, ecommerce has become more popular due to popup advertising. These ads usually try to entice you into looking at an item or buying it before it is visible to your eye.
Most people are familiar with the sound of pop up messaging when browsing apps or websites. You hear a tone and have less than a second to click on a button (or tap on the screen). Once you do, the website loads for a few seconds then quickly disappears.
Some experts say these ads can be effective even if you do not see them while shopping online. The trick works because we are constantly thinking about how things will affect us in the future.
By predicting what our next step will be, the internet encourages me to buy by offering something that I want to play out in the future. For example, if I think I might go dancing tonight, then there’s probably a new pair of shoes that would fit the bill.