Why Enterprise E-commerce is Getting Popular – 3 Reasons to know!
With the development of enhanced technology and the creation of the internet came the e-commerce industry. And since then has grown and expanded such that today it is one of the most popular industries in the world that shows no signs of slowing down. Day by day the competition is increasing between businesses due to the birth of companies every now and then.
This is why many companies are shifting to the online world for doing business and as result e-commerce is becoming more common and popular.
E-commerce allows every enterprise owner to save costs such as that of employment and overhead expenditures.
In this article, we will discuss the top four reasons why Enterprise E-commerce Is Getting Popular and why businesses are preferring to switch to online mode.
Convenience for Providing Services
Doing business online helps enterprise owners to provide services conveniently and with lowered costs and expenses. The cost of labor is cut down because a lesser number of employees are required to run the business. In addition to this, the company no longer has to worry about inventory management, billing, payments, checkouts, and other such operational work because they are eliminated or at least reduced which helps save costs.
Platforms like Big commerce make conducting business online easier by offering multiple services, robust features, security, mobile responsive design, customer support, and increased traffic. On the other hand, customers also get many benefits including discounted prices.
It also allows the customers to shop from the comfort of their home without having to travel long distances to buy a product. They can view the product virtually and make a purchase in just a few clocks. This saves the time and energy of the customer. Previously used advertising mediums such as newspapers, radios, television ads, and posters can be very expensive. Online enterprise owners don’t have to worry about the cost of advertising and marketing because of social media.
In today’s time, everyone has easy access to the internet and accounts on different social media platforms. This makes social media the hub of customers where enterprisers can advertise their product, all they need to do is build a social media presence.
Exposure of Business to a Larger Audience
Offline businesses have to open multiple stores in different locations in order to attract more customers and build their name in the market. This can be a time-consuming process that requires a great amount of investments and costs. But the owner of an e-commerce store can reach a larger audience not just from different cities but from all over the world.
Building a strong presence on Social media is a great way to increase traffic and its super easy. It is important that the enterprise owner creates an account on a platform where his targeted customers are most likely to be such as Facebook.
According to statistics, Facebook now has 500 million active users worldwide, and 56% of online shoppers use Facebook. In other words, you can expand your audience within minutes by using Facebook and advertising your product there. 11% of retailers consider social media to be their most effective advertisement tactic.
Eddie Machaalani, co-founder and co-CEO, Bigcommerce said, “Because of the increased use of social media on smartphones and social media’s involvement in retail sales, “social selling” has become red hot. Anyone hoping to improve their online sales success must take advantage of emerging trends.”-
Once on social media, enterprisers can encourage their customers to tell their friends and circles about the brand and its products by using different techniques such as Groupons. Groupons offer its patrons a deal from any local shop such as a food deal, but the deal is only available if a certain amount of people have ‘liked’ or ‘shared’ it. This encourages users and customers to share the product and tell their friends about it which is basically free marketing. This increases traffic and sales.
“You can’t just open a website and expect people to flood in. If you really want to succeed you have to create traffic.” – Joel Anderson, Walmart CEO
Development of skills
E-commerce gives enterprisers an opportunity to sharpen their skills. It helps build strong connections with customers more easily because business people understand the needs and wants of the customer. It instills in them a strong appreciation and acknowledgment of the customer and makes them value customer experience.
It encourages them to see the business world from the eyes of a customer which allows them to identify flaws and improve their brand and products. It helps build skills which an enterprise can use in the future.
Ashton Kutcher said, “In e-commerce, your prices have to be better because the consumer has to take a leap of faith in your product.”
Over the years, e-commerce sales have grown on average 19% annually which is way faster than offline businesses. We live in a digital world where everything is becoming linked to the internet directly or indirectly. Online merchants are at an advantage not only right now but also in upcoming days.
“People were doing business with one another through the Internet already, through bulletin boards. But on the Web, we could make it interactive, we could create an auction, we could create a real marketplace. And that’s really what triggered my imagination if you will, and that’s what I did.”- Pierre Omidyar, Founder of eBay.